Global Safety Sensors Market - By Type of Sensor (Accelerometers, Biosensors, Image Sensors, Motion Detectors), Industry, Geography, Trends, Forecast - (2017 - 2022)
The Global Safety Sensors market is expected to increase to USD XX.XX billion by 2022 at a CAGR of 15.86% over the period 2017-2022. Workplace safety and occupational health are some of the major concern for Industries across sector. A safe working environment has a direct impact on overall functioning of a company; it helps the worker to do his job more effectively which increases the overall productivity of the company. Moreover having a safer workplace also brings down the costs associated with industrial accidents, worker compensation and other legal costs.
Industries with complex and hazardous working requirements such as chemical, construction, manufacturing and miningbear more of the these industrial accidents, other than the industrial losses the cost for the workers undergoing these accidents may be permanent disability or even death.
Safety sensors play a vital role in ensuring workplace safety of employees across industry verticals. They act as bridge between human and machine interaction to provide useful, precise and timely indications to avoid any type of accidents. Moreover sensors even help and guide workers with accurate and precise information to work with, improving their working efficiency.
One the major driving force behind safety sensor market is the stringent safety regulation by government and other social agencies. There is also an increased concern for workplace safety among workers themselves on account of modern industry trends.ï¿½
The trend of automation in industries, housing and building creates a great potential for sensor market due to their safety requirements. Automation requires an intelligent machinery and environment which can work with minimal or even without any human intervention. Sensors help in creating that intelligent environment by enabling timely required indications and communication for the overall setup.
The global safety sensor market is projected to grow at a CAGR of 4.09% to reach $5.23 billion by the end of 2020 from current estimate of $4.28 billion.