Covid-19 Impact & Market Status
Covid-19 pandemic positively impacted the global connected worker market as it increased the importance of digital workplace. Connected worker even in the peak of the pandemic helped many companies maintain their critical operations while keeping their workers safe. The demand for connected grew dramatically due to demand for social distancing and remote work models. This has further booted the use of connected worker work models. The key factors such as rapid automation of business services companies, food services and waste and water services, adoption of technology and portable devices, improved profit margins, growing use of personal smartphones to make jobs easier, productivity , growing attraction of new generations towards connected worker is driving the global connected worker market.
The Public Segment Is Accounted For Highest Market Share
The organisations expect to coordinate or merge with the related worker's stage given the growing interest in mobile breakthroughs like 5G. Therefore, the advancement of in-cell technologies will certainly have a significant impact on market growth.
The Cloud Segment Dominated The Market
The market is divided into Cloud and On-Premises segments based on the type of deployment. Enterprise resource planning (ERP) strategies may seem like something reserved for corporations, but regardless of the moniker, small to medium-sized businesses can benefit significantly from implementing ERP strategies. While the majority of associations believe ERP promotes business advancement, half of the associations recognise ERP as a cost-saving measure.
After deciding to implement ERP within your organisation, the question of on-premise versus cloud-based ERP is frequently brought up. Although many organisations immediately consider SaaS options, the on-premise course of action also provides focal points. During the hypothesised time frame, it is estimated that the cloud arrangement will increase at a very high rate.
The Oil & Gas Segment To Record Highest Demand For Connected Worker
The market is divided into construction, mining, oil and gas, and other categories based on the end-user type. The oil and gas sector is known for being moderately slow to adopt technological advancements. However, over the past few years, it has advanced beyond the use of paper and pencil, actual work, and machines. For connected labourers, the oil and gas portion is anticipated to acquire a favourable valuation. International product market eccentricities have compelled organisations to increase capabilities and save costs.
The North American Region Is Poised for Rapid Market Progress
In 2021, the United States produced the most flammable gas and unrefined petroleum in the world, respectively. The Permian Basin-driven strong boring in the creation's shale reserves was the main reason of the flood. In contrast to the coastal area, the seaward area has not seen as much development (mostly due to its high cost).
Margin pressures and talent challenges is one of the biggest challenges facing business sector. This is raising the demand of work models that have advanced work structure improving the reliance on connected worker. This is further fostering the global connected worker market.
The key factors such as rapid automation of business services companies, food services and waste and water services, adoption of technology and portable devices, improved profit margins, growing use of personal smartphones to make jobs easier, productivity , growing attraction of new generations towards connected worker is driving the global connected worker market.
Frontline personnel can communicate with their manager or co-workers who are working in another location thanks to connected worker technology, which combines software, networks, and hardware.
Through a remote connection, it allows employees to display their view points, data, and dashboards as needed. The ability to communicate audibly and graphically is provided by connected workers.
Additionally, it makes it easier for employees to communicate data through a centralised database, which aids in getting real-time data and enabling situation-based decision-making. One of the components, hardware, can be further divided into mobile devices, hearing protection, smart head gear, and smart eyeglasses. Software can also be divided into categories like workforce analytics, mobile learning, and workforce task management. The services offered by the connected worker market include consulting, training, and implementation. The connected worker market offers both on-premises and cloud-based work deployment options.
The advantages of the coming of the digital era are evident in numerous areas around the world. Today, every person and organisation is digitally connected in some manner. The manufacturing industry was lagging in some areas even though every industry and organisation is moving toward digital connectivity. The industry's rise due to linked technology advancements and increased awareness about the usage of these devices to reduce workplace dangers has been aided by the increased demand for these wearables. Additionally, the market for connected workers is anticipated to advance due to the growing demand for distant labor brought on by current and upcoming pandemics. Additionally, it is anticipated that the growing demand for worker safety in dangerous locations, along with the increasing adoption of a lot in end-use industries, would lead to enormous growth in the connected worker market.
The global connected worker market was valued at US$ 3.19 billion 2021 and is likley to reach US$ 21.73 billion in 2029 at a CAGR of 23.2% during the prediction period of 2022-2029.
Every employee at the manufacturing facility used to manually record all of the information about daily operations. The manufacturing industry has entered a linked era with the introduction of connected worker technologies, decreasing human error and improving digitalization in operations. This enables the producers to avoid traffic jams and increase productivity.
A programme or platform known as a "connected worker solution" enables firms to gain real-time visibility into their processes through digitization and enhanced operator workflow. The widespread adoption of these platforms might help the market for connected workers worldwide experience significant growth over the evaluation period of 2022–2029.
The global connected worker market players are Zebra Technologies, Wearable Technology Limited, Vandrico Solutions, TELUS, Tata Consultancy Services, Smart Track S.R.L., Oracle Corp, Honeywell International, Fujitsu, Avnet, Accenture, and 3M Company among others. To increase their market share and diversify their consumer base, these businesses are constantly investing in R&D and investing and expanding in emerging economies.
Recent Innovations in the Global Connected Worker Market: a Snapshot
- According to Caterpillar, during MINExpo 2021 in Las Vegas in September 2021, the company will unveil Connected Worker, security and performance solutions for ground mining activities, developed by GuardhatTM. The Connected Worker solution adds an extra layer of defence against numerous site safety issues via the use of analytics and intelligent wearable technologies.
Connected Worker Market Scope
|Forecast Unit||Value (USD)|
|Revenue forecast in 2029||US$ 21.73 billion|
|Growth Rate||CAGR of 23.2 % during 2021-2029|
|Segment Covered||Component, Deployment, End User, Regions|
|Regions Covered||North America, Europe, Asia Pacific, South America, Middle East and South Africa|
|Key Players Profiled||Zebra Technologies, Wearable Technology Limited, Vandrico Solutions, TELUS, Tata Consultancy Services, Smart Track S.R.L., Oracle Corp, Honeywell International, Fujitsu, Avnet, Accenture, and 3M Company|
Key Segments of the Connected Worker Market
Component Overview, 2022-2029 (USD Billion)
Deployment Overview, 2022-2029 (USD Billion)
- On- Premise
End User Overview, 2022-2029 (USD Billion)
- Oil & Gas
Regional Overview, 2022-2029 (USD Billion)
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- South America
- Rest of South America
- Middle East & Africa