Technavio recognizes the following companies as the key players in the global smart PPE market: 3M, DAQRI, GENERAL ELECTRIC, and Honeywell.
Other Prominent Vendors in the market are: HUMAN CONDITION SAFETY, Intellinium, and Seebo.Commenting on the report, an analyst from Technavios team said: One trend in the market is large-scale investment and product development. Factors such as IoTs, big data, and cloud computing will have an increasing impact on incentives for manufacturers to invest in smart PPE and future market opportunities.
Wearable technology has become increasingly prevalent in PPE, owing to increasing productivity, safety management, and provision of long-term savings by avoiding the number of accidents.
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According to the report, one driver in the market is need for product differentiation. There is a need for product differentiation among vendors in the PPE market.
The PPE market is fragmented with the presence of several global and regional members. The market can be located close to the mature stage where vendors resort to product differentiation and competitive pricing.
The PPE market caters to other mass markets owing to low cost per customer and increased profits. Vendors are competing in terms of pricing and promotional efforts to gain a major share of the market.
However, vendors resort to certain strategies in the product development phase, where existing products are modified.Further, the report states that one challenge in the market is high cost and trade-off on ROI. For an organization, purchasing PPE is an expensive affair.
Owing to government regulations with regard to safety of employees, employers are focused on adhering to the regulation of provision of PPE, without paying heed to its appropriate use and functionality. Therefore, the functionality of the equipment becomes a major concern.
The challenge is to ensure product quality with respect to safety and functionality while limiting the cost. When it comes to PPE, product costs entail several factors such as purchase price, maintenance cost, and service life.
Therefore, using expensive equipment that provides assured quality and functionality will cost the buyer less in the long run.
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The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.
About Smart PPEPPE is used to protect users against hazards that can be encountered in an industrial setting. The various types of PPE include safety gloves, helmets, glasses, high-visibility clothing, safety footwear, safety harnesses, and respiratory protection.
Smart PPE involves the incorporation of advanced technologies in personal protective equipment. This includes the integration of IoT and sensors, among others, in wearables, including clothing, gloves, hard hats, and safety glasses.Technavios analysts forecast the global smart PPE market to grow at a CAGR of 15.43% during the period 2017-2021.Covered in this report
The report covers the present scenario and the growth prospects of the global smart PPE market for 2017-2021. To calculate the market size, the report considers the demand for smart PPE in the form of equipment and software solutions.The market is divided into the following segments based on geography:
EMEATechnavio's report, Global Smart PPE Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years.
The report also includes a discussion of the key vendors operating in this market.
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HoneywellOther prominent vendors
HUMAN CONDITION SAFETY
Need for product differentiation
For a full, detailed list, view our report Market challenge
High cost and trade-off on ROI
For a full, detailed list, view our report Market trend
Large-scale investment and product development
For a full, detailed list, view our report Key questions answered in this report
What will the market size be in 2021 and what will the growth rate be?
What are the key market trends?
What is driving this market?
What are the challenges to market growth?
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