Keeping equipment in a safe working order starts with ensuring that everyone is qualified to work on it. This includes determining who can and cannot touch live or energized parts. It is also crucial to keep a lockout tagout (LOTO) policy in place so that the equipment is fully de-energized when an employee needs to work on it. This prevents taking shortcuts that could potentially lead to electrical injuries.
Market Dynamics:
Stringent safety regulations, growing awareness of workplace safety, and rise in electrical accidents are anticipated to drive the growth of the global electrical safety management market over the forecast period. Moreover, the expansion of the industrial and construction sectors is also expected to boost the growth of the global electrical safety management market over the forecast period. Advancements in technology, integration of data analytics, growth in the renewable energy sector, and focus on remote monitoring are expected to create growth opportunities for the global electrical safety management market during the forecast period.
The global electrical safety management market is driven by factors such as stringent government regulations for electrical safety, increasing investments in industrial automation, growing adoption of Internet of Things (IoT)-enabled electrical devices, and rising awareness about electrical safety audits and compliance. However, high initial investments for electrical safety equipment and solutions as well as lack of skilled safety professionals in some regions are restraining the market growth. The market players have opportunities to target emerging economies in Asia Pacific and the Middle East which are witnessing rapid industrialization. They can also offer customized solutions and services for different industry verticals.
However, cost of implementation, lack of awareness and training, and resistance to change are expected to hamper the growth of the electrical safety management market over the forecast period.
Key Features of the Study:
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