Demand For Smart PPE In Asia Pacific To Top With A Volume Sales of 5.7 Mn Units By 2030-End - Latest Report By Fact.MR
SEOUL--(Korea Newswire)--According to the Fact.MR Latest Survey, the global smart PPE market is anticipated to rise at a steady CAGR of close to 6% and reach a valuation of nearly US$ 3 Bn by the end of 2030.
Advancements In The Semiconductor Industry Will Facilitate Numerous Growth Opportunities For The Smart PPE Market In Asia Pacific
The North American smart PPE market is expected to continue to dominate at the global level owing to increasing industrial activity and increasing demand from the end-use sector. However, East Asia is poised to develop at the highest CAGR compared to other regional and global averages.
The continued development of the semiconductor industry related to the telecommunication industry and sensor specification to provide better and uninterrupted service will spur numerous growth opportunities for markets in developing countries such as India and China. China's smart PPE market is expected to create an absolute $ opportunity of $250 million during the forecast period.
Key Takeaways from Smart PPE Market Study
· The global smart PPE market is projected to create an absolute $ opportunity of more than US$ 1.2 Bn from 2020 to 2030.
· By product type, the protective clothing segment is set to hold a share-wide market dominance with over 60% of the total market value by the end of 2030.
· The protective footwear segment is projected to expand at a value CAGR of 7.5% and is expected to be valued 2X more than off-shore by the end of 2030.
· The COVID-19 outbreak has resulted in impacting demand for smart PPE at the global level, as an aftereffect of halted production and construction activities in end-use industries. Furthermore, disrupted supply chains and reduced production at manufacturing companies have also contributed to descending demand. However, the smart PPE market is expected to show advancing growth post-pandemic period, as demand for reliable and efficient worker safety products with OSHA standards will surge.
· The oil & gas industry end-use segment is poised to expand at a CAGR of 6%, gaining 50 BPS over the course of the forecast duration (2020-2030).
· The smart PPE market in Europe is expected to expand at a CAGR of 6%, whereas, North America is projected to be valued 2X Latin America, and is estimated to account for a major chunk of the demand pie by the end of the forecast period.
“Integration of sensors with improved features and safety standards will provide an opportunity for the smart PPE market during the forecast period,” says a Fact.MR analyst.
Key Players to Focus on Product Innovation
Globally, Established Players in the Smart PPE Market are
Draegerwerk AG & Co
UVEX Winter Group.
Key players in the market are continuously focusing on product innovation to gain market share and create a USP in this highly competitive market. In the recent past, the smart PPE market has seen numerous innovations, which is an aftereffect of increasing demand for enhanced safety products.
· For instance, 3M and Ford collaborated to build and ship newly-built powered air-purifying respirators for healthcare workers due to the COVID-19 crisis, leveraging parts from both company’s portfolios.
The Market insights of Smart PPE will improve the revenue impact of businesses in various industries by:
· Providing a framework tailored toward understanding the attractiveness quotient of various products/solutions/technologies in the Smart PPE Market
· Guiding stakeholders to identify key problem areas pertaining to their consolidation strategies in the global Smart PPE market and offers solutions
· Assessing the impact of changing regulatory dynamics in the regions in which companies are keen on expanding their footprints
· Provides an understanding of disruptive technology trends to help businesses make their transitions smoothly
· Helping leading companies make strategy recalibrations ahead of their competitors and peers
· Offers insights into promising synergies for top players aiming to retain their leadership position in the market & supply-side analysis of Smart PPE market.
Key questions answered in Smart PPE Market Survey Report:
1. What is the current scenario and key trends in Smart PPE Market?
2. What are the key strategies companies are adopting to increase their consumer base?
3. What are the key categories within the Smart PPE segments and their future potential?
4. What are the major Smart PPE Market drivers and their expected impact during the short, medium, and long terms?
5. What is the Smart PPE Market size and what are the opportunities for the key players?
Smart PPE Market Report : https://www.factmr.com/report/4611/smart-ppe-marke
For more insights into the Market, Request a Sample of this Report : https://www.factmr.com/connectus/sample?flag=S&rep
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