Prominent players in the smart PPE market are engaging in widening their product portfolios to support a greater market share, and optimizing end use applications.
ROCKVILLE, MD / ACCESSWIRE / April 14, 2020 / The smart PPE market is projected to rise at an immense CAGR of 15.8% between 2019 and 2029. The increasing application of smart PPE products in industrial and healthcare settings are key factors, which are driving sales. Widespread end use applications of smart PPE such as mining, transportation, oil & gas, and firefighting will continue to aid the growth of the smart PPE market. This extremely promising growth prospect can be attributed to the stringent regulations by government authorities in terms of workplace safety, concludes Fact.MR in its new study.
"The global smart personal protective equipment market is largely driven by government initiatives on workplace safety. With intense competition in the market landscape, key players are investing in product innovation to retain their position," concludes the Fact.MR report.
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Smart PPE Market - Key Takeaways
- Multifunctional protective clothing will account for a major market share of 40% of the overall value through 2029.
- The manufacturing segment will account for a large end use application segment for smart PPE.
- The firefighting PPE segment will provide highly remunerative opportunities, driven by the integration of ICT services.
- Heat and flame resistance applications will maintain a high growth rate, propelled by operational safety initiatives.
- North America will remain a prominent regional market, accounting for over 35% of the market share.
Smart PPE Market - Key Driving Factors
- Integration of smart technology such as sensors and Internet of Things in wearable products are driving the adoption of smart PPE.
- Government regulations associated with workplace safety and user awareness will support growth of global market.
- The rising oil and gas production activities, particularly in North America is sustaining market growth.
- The integration of ICT services in end use applications is propelling the smart PPE market.
- The innovations in modern smart PPE to meet the requirements of varying end use applications contribute to sales.
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Smart PPEs Market - Key Constraints
- Failure by organizations and workers in terms of complying with PPE guidance continues to be a key threat which is likely to hamper market growth.
The Covid-19 Market Impact
The WHO has declared the coronavirus a global pandemic. Consequently, economic activities around the world have been substantially disrupted. In the wake of such an impact, governments and businesses are increasingly looking towards smart PPE solutions to minimize the spread of the virus, and to keep essential working populations safe.
For tech developers such as IBM, smart wearable tech is not intended as a replacement for conventional safety programs, but instead intend to use smart PPE as a way to improve the implementation of such policies. Smart PPE is capable of capturing biometric and environmental data in real time to monitor changes in body temperature, air quality, and even flag down assistance when worker's vital signs indicate sickness, protecting the workforce of healthcare and sanitation departments globally, who are at high risk of contracting the disease. These trends will sustain the demand for smart PPE through the forecast period.
Competition Landscape
The global smart PPEs market is moderately fragmented. The leading players profiled in the report include, but are not limited to Seebo, 3M Co., Intellinium, Baker Hughes, Human Condition Safety, GE Co. LLC, DAQRI, Honeywell International Inc., Dragerwerk AG, MSA Safety, VuzixCorp, uvex Group. Market leaders are investing in introducing new products to gain a larger portion of the competitive market. Manufacturers are also channeling their efforts towards the higher levels of attenuation in their products, as indicated by the Fact.MR report.
About the Report
This 170-page study offers readers a comprehensive market forecast of the smart PPEs market. Global, regional and country level analysis of the latest industry trends impacting the smart PPEs market are covered in this Fact.MR study. The report offers compelling insights on the smart PPEs market on the basis of product (protective footwear, multifunctional protective clothing, smart ear muffs, respiratory protection, and others), end use industry (firefighting industry, mining fields, construction sites, oil & gas, manufacturing industry), across seven regions (Middle East and Africa, South Asia, Oceania, East Asia, Europe, Latin America, North America).
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SOURCE: Fact.MR