New York City, 24 January 2020: The global Connected Worker Market size is expected to reach USD 9,998.4 million by 2026 according to a new study by Polaris Market Research.In 2018, the hardware segment accounted for the highest segment for the Connected Worker hardware market share in terms of revenue. In terms of software, workforce analytics for connected worker is anticipated to grow at a CAGR of 20.6% from 2019 to 2026 followed by workforce task management. The RFID location triangulation segment is expected to grow to USD 2.90 billion by 2026. In terms of regional market, Asia-Pacific is expected to grow at a CAGR of more than 22% however Europe and the North American region are expected to be the largest markets for connected workers in 2018.
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The increasing safety concerns, and stringent regulations regarding workforce safety majorly drive the market growth. The growing adoption of IoT, increasing broadband internet penetration, use of smartphones, and an increasing proportion of technologically inclined consumers further support the growth of the smart worker market. The growing need to streamline operations to improve productivity and safety would increase the adoption of connected worker during the forecast period. Other driving factors include technological advancements, increasing need for collaborative working environment, growing demand for mobility, and increasing requirement to improve workforce productivity and safety.
The connected worker ecosystem tracks the movements and progress of workers through planned and unplanned tasks. The devices record video and audio from the worker’s environment, sense environmental conditions such as the presence of gas, temperature, and vibration, and detect falls and other incidents, thereby improving workforce safety. Wearable technologies are also integrated with displays and augmented reality applications for the delivery of guidance, information and insights to workers, thereby boosting their reliability, productivity and safety.
Connected technologies used in the connected worker ecosystem reduce skills gaps by providing on-the-job guidance for routine procedures. Plant supervisors and managers use connected worker ecosystem for effective route and task planning for current and emerging operational situations. It also offers improved communication and collaboration among workers facilitating capture and sharing of knowledge to increase productivity and efficiency.
North America generated the highest market share in terms of revenue in 2018 with the revenue of USD 854.3 million and is expected to lead the global Smart Worker market throughout the forecast period. The presence of established telecom and cloud infrastructure in this region, and growing trend of BYOD has accelerated the Smart Worker market growth in the region. The growing demand of mobile devices, automation of tasks, increasing safety concerns, and technological advancements generate numerous opportunities for the Smart Worker market.
The well-known companies profiled in the report include the 3M Company, Intel, Wipro, Honeywell International Inc., Fujitsu Ltd., Zebra Technologies, Accenture, Oracle Corporation, Wearable Technologies Limited, Avnet, Inc., Vandrico Solutions Inc., and Smart Track S.R.L. These companies launch new products and collaborate with other market leaders to innovate and launch new products to meet the increasing needs and requirements of consumers.
Browse Full Research Report on "Connected Worker Market " @ https://www.polarismarketresearch.com/industry-analysis/connected-worker-market
