Smart Personal Protective Equipment Market - Growth, Trends, and Forecast (2022 - 2027)

Smart Personal Protective Equipment Market - Growth, Trends, and Forecast (2022 - 2027)

The Smart Personal Protective Equipment Market was valued at XX billion in 2019, and it is expected to reach USD XX billion by 2025, at a CAGR of XX, over the forecast period 2020-2025. Smart Smart Personal Protective Equipment refers to PPE that connects to the internet and other devices like software or tablets to deliver real-time safety information to prevent injuries. It not only minimizes exposure to hazards, but also collects data, sends notifications, and automatically adjusts according to certain internal and external conditions.

Key Highlights

• IoT and all the smart products it creates are constantly increasing expectations about data and connectivity and at the same time are creating new channels of business value. The hardware and electronics prices are witnessing a decline so the costs of connectivity and embedded sensors no longer deter companies from adopting smart technology.
• Workers rely on personal protective equipment (PPE) to ensure their safety and the the IoT technology entered into the PPE. End users, employers and businesses share a strong common interest to provide the PPE and other safety equipment that not only complies with regulations, but also increases protection by lowering the risk of workplace injuries and the subsequent costs.
• When compared to the traditional PPE, smart PPE’s advanced features increases the usability and boost efficiency. Smart PPE leads to a reduction in errors, and therefore there is a decline in number and severity of workplace accidents and injuries, giving rise to improved productivity, performance and efficiency and consequent long-term cost savings.

Key Market TrendsThe usage of Smart PPE in construction to witness a significant growth

• On an average in the United States two construction workers die of work-related injuries every day and one in five workplace fatalities are related to construction. The major causes for the accidents of the construction-related injuries are falls, struck-by an object and getting caught between objects. To prevent this the construction companies are trying to increase the saftey of workers by adopting Smart PPE's.
• Companies which are unrelated to Personal Protective Equipment have realized the market opportunity and the augmented reality company Daqri's developed a product which is a smart construction helmet that increases efficiency of the user through connectivity with the control room and data about their environment and actions they perform.
• Companies such as HazardEx are developing smart helmets thatuse meta sensors to evaluate situations, providing information and significantly enhancing their protective function. The chip or sensor can be programmed such that it can do almost anything to make the wearer safe. For instance, it could provide a GPS tracking system for lone workers in environments which include big construction sites.

North America is Expected to Hold Significant Share

• North America is expected to hold a potentially significant share, thereby creating an impact in the Smart PPE Market. The region has substantial dominance with sustainable and well-established economies, empowering them to invest in R&D activities actively in IoT technology which forms the basis for Smart PPE and even in various connectivity technologies that are involved.
• According to the 2019 US Bureau of Labor Statistics, during every 7 seconds a worker is injured on the job which translates to almost 4.6 million a year. The numbers are staggering, where each injury is preventable and taking preventative action can prevent workers needless pain and suffering. This is one of thr driving factors for the development of Smart PPE in this region which gives substantial edge over traditional PPE.
• There are many startup's growing in the region who engage in development of Smart PPE's. The global insurance company, American International Group (AIG), has already invested in a smart PPE startup where the company utilizes technologies such as artificial intelligence and cloud computing to monitor worker safety and health.

Competitive Landscape

The Smart Personal Protective Equipment Market is moderately consolidated. The major share of the market is occupied by the top players such as 3M Company and Honeywell International Inc. Moreover, due to increasing accidents at the workplace in the industries many international companies are willing to invest in start-ups those engage in development of smart personal protective equipment.

• September 2019 - Vuzix Corporation launched the Vuzix Blade Smart Glasses which is safety certified for enterprise at a price point of USD 999. The Vuzix Blade Smart Glasses Safety Certified provide the necessary protection for various applications in the industry and work sites and at the same time offers an all-in-one smart wearable technology that can provide work instructions or expert remote support to workers in the enterprise.
• October 2019 - Intellinium partnered with OPPBTP at Preventica Maesielle 2019 to present the company's construction 4.0 smart PPE which includes safety pod and smart cone. Intellinium has chosen to mount its safety pod on shoes or boots, because that's one of the places where protecting device will be always worn by workers.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

Companies Mentioned
 
3M Company
IML Group PLC (Hazardex)
Seebo Interactive LTD
Honeywell International Inc
Intellinium
Corvex Connected Worker
Daqri
Tenacious Holdings, Inc. (dba Ergodyne)
Uvex Group
Vuzix Corp

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