LONDON--(BUSINESS WIRE)--The smart personal protective equipment (PPE) market is expected to grow by USD 1.85 billion during 2020-2024. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. We expect the impact to be significant in the first quarter but gradually lessen in subsequent quarters – with a limited impact on the full-year economic growth.
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Labor-intensive industries such as automotive, manufacturing, construction, chemicals, and food processing are usually associated with injuries to the hands, such as cuts and chemical burns. These injuries might result in lacerations or amputations. They also increase the need for emergency room visits and can result in costly workers’ compensation claims. The increasing incidence of impact-related hand injuries in industrial activities is forcing employers to mandate the use of protective hand equipment for their employees. These factors have significantly increased the demand for smart PPE, which is driving the growth of the market.
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As per Technavio, new product launches will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other significant trends and market drivers that will influence market growth over 2020-2024.
Smart Personal Protective Equipment (PPE) Market: New Product Launches
Many global and local players in the smart PPE market are focusing on expanding their market share by launching new and innovative products. For instance, in May 2018, Honeywell launched its handsfree, wearable Honeywell Connected Plant technology. The new Skills Insight Intelligent Wearables range of the company features head-mounted visual display that responds to voice and brings live data, documents, work procedures, as well as health and safety information into view. It allows the workers to send and receive messages without the need for smartphones. Such successful product launches are fueling the growth of the global smart PPE market.
“High demand from the firefighting industry and the launch of new products with integrated IoT solutions will further boost market growth during the forecast period”, says a senior analyst at Technavio.
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Smart Personal Protective Equipment (PPE) Market: Segmentation Analysis
This market research report segments the smart personal protective equipment (PPE) market by End-user (Firefighting industry, Manufacturing industry, Construction industry, Oil and gas industry, and Mining Industry) and Geography (North America, Europe, APAC, South America, and MEA).
The North America region led the smart personal protective equipment (PPE) market in 2019, followed by Europe, APAC, South America, and MEA respectively. During the forecast period, the North American region is expected to provide significant growth opportunities for market players.
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Some of the key topics covered in the report include:
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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Smart Personal Protective Equipment (PPE) Market 2020-2024 | Risks of Physical Injuries in Labor-intensive Industries to Boost Market Growth | Technavio - Business Wire
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