The global workplace safety market, valued at $12.8 billion in 2021, is expected to grow to $39 billion by 2031, with a CAGR of 12.2% from 2022 to 2031.This growth is driven by increased adoption due to higher rates of workplace injuries and fatalities, along with rising investments from both government and private sectors. However, challenges such as high implementation costs and a shortage of qualified workers’ compensation and health providers may hinder market growth. Nevertheless, emerging trends like smart PPE are anticipated to offer significant opportunities for market expansion during the forecast period.
