The global Connected Worker market size is projected to reach USD 21.9 billion by 2028, growing at a CAGR of 27.0% during the forecast period. The report “Connected Worker Market Share, Size, Trends, Industry Analysis Report By Component; By Technology (RFID Location Triangulation, Wi-Fi, Cellular, Bluetooth, Low-Power Wide-Area Network (LPWAN), Wireless Field Area Network (WFAN), and Zigbee); By Deployment; By End-user (Manufacturing, Construction, Mining, Oil & Gas, and Others); By Regions, Segment Forecast, 2021 – 2028” gives a detailed insight into current market dynamics and provides analysis on future market growth.
The hardware segment has registered a higher revenue share in the global connected worker market. The software segment is anticipated to grow exponentially with a CAGR of 27.8% during the forecast period, i.e. 2021 to 2028. In terms of regional outlook, the Asia Pacific region is anticipated to grow substantially with a CAGR of over 28%. Furthermore, the RFID location triangulation segment is projected to rise to USD 6.3 billion by 2028.
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The report gives a holistic view of current market dynamics and provides a prediction on future market trends. The increasing need for a collaborative working environment, rapid technological advancements, rising demand for mobility, and improved workforce productivity are some of the major factors fueling the growth of the global connected worker market. Increased use of smartphones, growing adoption of IoT, and increasing inclination towards technology further boosting the growth of the global connected worker market. The rising need for streamlining business operations to increase productivity and ensure safety fostering the adoption of connected worker technologies. In addition to this, growing safety concerns and strict regulations for workforce safety are the key driving factors for the global market.
All the workers from the manufacturing plant were previously used to manually cross-check all the day to day operations. With the emergence of connected worker technology, the industry experiencing an advanced era of connectivity. This has greatly reduced the possibilities of human errors and enhanced digitalization for smoother operations. A connected worker solution is a unique platform that helps to keep continuous tracking and real-time visibility of all processes. Flexible remote assistance with the assistance of augmented reality technology is some of the key features that further supported the connected worker platforms.
The leading market players are involved in various activities such as acquisitions, collaboration, joint ventures, partnerships, and mergers for taking lead in the global connected worker market. Increasing technological advancements along with the invention of innovative products at low costs and rising spending from the IT services industry are envisioned to bolster the demand for the global connected worker market over the forecast period.
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The connected worker market in the North American region is providing lucrative opportunities in the form of expansions for several market players. Increased smartphone penetration along with improved internet & broadband connectivity coupled with rising customer demand for continuous access to content are expected to foster the growing connected worker market. In addition to this, several new entrants are entering the market focusing to expand their operations, boosting demand for connected workers. On the basis of regions, North America emerged as the biggest market for connected worker solutions.
Some well-established companies operating in the global connected worker market include Avnet, Inc., Accenture, 3M Company, Honeywell International Inc., Fujitsu Ltd., Intel, Oracle Corporation, Smart Track S.R.L., Wearable Technologies Limited, Vandrico Solutions Inc., Wipro, and Zebra Technologies. Key market participants are continuously involved in collaborations and product launches to innovate solutions offering to meet growing requirements from consumers.
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