Connected Worker

Global Connected Worker Solutions Market Is Projected To Expand At A Ginormous CAGR Of Around 23% Over 2032

Technology

The global connected worker solutions market is set to vouchsafe a stonking growth of close to 23% over the next ten years, i.e. 2020-2030. Over the past half-decade, the market swelled at a noteworthy rate of 19.9%, on the back of dominant demand for industrial connectivity, globally. Moreover, the inception of industry 4.0, globally, has mandated industry verticals to go digital with their supply chain networks. Over this decade, demand for connected worker solutions is expected to rise exponentially with the high-end technologies such as IIOT (Industrial Internet of Things), 5G adoption by manufacturing industries in order to boost their productivity, and workplace safety. Furthermore, remote management of operational activities from industries is on the rise within manufacturing industries. Therefore, the inception of industry 4.0 and remote management adoption by industry verticals are set to bestow generous opportunity for the connected worker solutions market to burgeon.

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Key Takeaways from Connected Worker Solutions Market Study

 

  • The hardware segment of connected worker solutions is expected to expand at an impressive CAGR of more than 23% over the forecast period.
  • North America is the consummate market with a value of US$ 758.4 Mn in 2020, and is subjected to inflate at a zestful CAGR of more than 18% during the forecast period.
  • Mobile devices/ tabs are opined to exhibit a high growth rate of around 2% CAGR, while tools & software under components are projected to add 7.2X value over the forecast period.
  • East Asia is set to experience rapid expansion at 29% CAGR, owing to manufacturing prowess of the region with widespread implementation of high-end technology within supply chain operations.
  • By industry vertical, i.e. the oil & gas industry is poised to bestow gracious opportunity for connected worker solutions by virtue of increasing apprehensions regarding employee safety and digitizing the supply chain. Owing to these factors, the aforementioned industry is poised to expand at a robust rate 26% through 2030.

Key Segments Covered of Connected Worker Solutions Market

Component

  • Hardware
    • Headgear
    • Glasses
    • Mobile Devices / Tabs
    • VR Headsets
    • Sensors / RFID
    • Network devices
  • Tools & Software
  • Services

Size of Enterprise

  • Small and Medium Enterprise
  • Large Enterprise

Industry Vertical

  • Manufacturing
    • Automotive 
    • Oil & Gas 
    • Chemicals and materials
    • Food & Beverages 
    • Industrial Goods Machinery
    • Pharmaceutical 
    • Mining and Metal 
    • Others 
  • Services

Region

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia & Oceania
  • Middle East & Africa

Competition Landscape

Aforementioned market players are considered as prominent players in the connected worker solutions market. Further, key market players are focusing on digital ecosystem with enhanced asset connectivity and dexterity.

Targeted acquisitions and improved product offerings within the industry are key for sustaining in the connected worker solutions market.

  • For instance, Wood, a global leader in consulting, operation solutions and projects, adopted Honeywell Forge Workforce Productivity solutions. Through this, Wood would equip its frontline workforce in the energy sector to streamline uptime operations and facilitate business continuity
  • In addition, Fujitsu has amalgamated the use of industrial IoT and enterprise wearables, which includes UBIQUITOUSWARE. This approach helps companies in providing integrated solutions of hardware and software combined, thereby increasing profits for the company.
  • Similarly, Telus offers a customized solution, which ranges from contact tracing, journey management, smart building solution, etc., marking it as an established brand for connected worker solutions.

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