PUBLISHER: 360iResearch | PRODUCT CODE: 1466735
PUBLISHER: 360iResearch | PRODUCT CODE: 1466735
[196 Pages Report] The Connected Worker Market size was estimated at USD 7.27 billion in 2023 and expected to reach USD 8.60 billion in 2024, at a CAGR 19.15% to reach USD 24.81 billion by 2030.
The connected worker includes technologies that enable seamless integration and communication between workers across industries, including manufacturing, construction, oil & gas, retail, and healthcare. The connected worker solution empowers employees with real-time access to information, resources, and expert support while working on the job site or remotely. Additionally, connected worker solutions enhance productivity, safety, efficiency, and decision-making capabilities by leveraging advanced devices such as wearables, AR/VR headsets, IoT sensors & beacons, and artificial intelligence (AI) & machine learning (ML) algorithms. Increasing demand for industrial Internet of Things (IIoT) across industries to streamline processes and improve efficiency is increasing the demand for connected worker solutions. Growing government initiatives to improve worker safety are increasing the demand for connected worker solutions that provide real-time monitoring of employee health parameters and offer immediate alerts in case of emergencies. Data security & privacy concerns with the usage of connected worker solutions hamper market growth. The growing development of novel connected worker solutions with improved data security measures and ensuring compliance with global regulations is expected to create opportunities for market growth.
KEY MARKET STATISTICS | |
---|---|
Base Year [2023] | USD 7.27 billion |
Estimated Year [2024] | USD 8.60 billion |
Forecast Year [2030] | USD 24.81 billion |
CAGR (%) | 19.15% |
Component: Increasing usage of software in connected worker systems for data analytics
Hardware forms the foundation of connected worker systems by enabling seamless communication between workers and their environment. Key subcategories within hardware include wearable devices such as smart glasses, smart watches, headsets, temperature sensors, humidity sensors, and communication equipment such as smartphones and radios. Wearable devices empower workers with hands-free access to information while sensors ensure real-time data collection in hazardous areas. The services component encompasses implementation support, including training and integration, consulting services, and managed services such as maintenance and troubleshooting. Depending on an organization's specific requirements or expertise levels, service providers offer tailored solutions to streamline adoption processes while optimizing technology usage. The software is the backbone of connected worker systems, integrating hardware data with advanced analytics. Key subcategories include device asset tracking management, data analytics, and collaboration tools. These software solutions allow organizations to leverage captured data effectively, improving decision-making processes while enhancing overall productivity. Organizations operating in hazardous industries prioritize hardware investments for employee safety through wearable devices or sensors. In contrast, businesses with limited internal expertise lean towards service providers offering comprehensive implementation support. Lastly, companies seeking to maximize data-driven insights from connected worker solutions focus on robust software platforms that integrate analytics and collaboration tools.
Technology: Rising preference for Bluetooth technology in connected worker systems for providing workers real-time access to data
Bluetooth is a widely adopted short-range wireless technology that enables communication between devices within a radius of up to 10 meters. It is commonly used for hands-free communication headsets, asset-tracking tags, and wearable devices like smartwatches. Bluetooth technology benefits indoor localization and proximity-based services, providing workers with real-time access to vital information while fostering collaboration. Cellular networks enable long-range wireless connectivity for connected worker devices through standards like 4G LTE and the emerging 5G technology. Cellular networks allow workers to access essential information on their mobile devices, even from remote locations or within extensive industrial facilities. Low-Power Wide-Area Network (LPWAN) offers extensive coverage with minimal power consumption. It connects low-power IoT devices such as asset trackers, environmental sensors, and smart meters. RFID location triangulation technology uses radio-frequency identification (RFID) tags to determine the position of assets or workers within an area. This technology assists in asset management, worker safety, and operational efficiency by providing accurate location information for assets and personnel in complex industrial environments. Wi-Fi offers high-speed internet connectivity over short to medium ranges, facilitating seamless data transfer between these devices and fostering collaboration among workers through video conferencing and file sharing. Wireless Field Area Networks (WFAN) provide robust connectivity over large geographical regions with minimal downtime or interference. Implementation of WFANs using technologies like cellular or LPWAN enables secure data transmission and remote monitoring for critical infrastructure while ensuring worker safety. Zigbee is a low-power mesh networking protocol primarily used for IoT applications requiring short-to-medium range communication between devices, facilitating secure data transfer amongst numerous connected devices while maintaining low energy consumption.
Deployment: Expanding adoption of cloud-based connected worker system to support seamless integration
Cloud-based connected worker systems leverage remote servers to store and manage data while providing access to tools and applications through the internet. Cloud solutions allow organizations to easily scale their connected worker programs, accommodating fluctuations in workforce size or expanding operations without significant investments in additional hardware or software. Cloud platforms often support seamless integration with other enterprise systems such as ERP, CRM, HRM, etc., enabling streamlined data sharing across functions. On-premise connected worker solutions involve deploying and managing the required hardware, software, and infrastructure within the organization's data center or facility. On-premise deployment ensures full control over data storage and access for organizations with stringent data security requirements or regulatory compliance concerns. On-premise systems provide greater flexibility for tailoring connected worker solutions to specific organizational needs and processes. Cloud-based systems offer scalability, cost efficiency, and ease of integration, while on-premise solutions ensure data security, customization capabilities, and network performance.
End-User: Growing application of connected worker solutions in the oil & gas industry to improve on-site efficiency
In the construction industry, connected worker solutions are essential for improving on-site safety, communication, and efficiency. Key applications for this sector include wearable devices, IoT-enabled equipment monitoring, and location-tracking systems to help prevent accidents and streamline operations. The need-based preferences in this segment focus on ensuring worker safety and reducing downtime caused by miscommunications or equipment issues. The manufacturing sector benefits from connected worker technology through more effective management of production facilities and increased worker productivity. Key applications in this segment are mobile communication platforms that facilitate real-time collaboration between employees on the factory floor, maintenance technicians using augmented reality (AR) tools for troubleshooting equipment issues, and predictive analytics for optimizing both human resources and machinery performance. Connected worker technology is vital within the mining industry due to the hazardous nature of underground operations. In this context, the main applications involve remote monitoring systems that track worker location and vital signs, as well as IoT-enabled sensors for monitoring environmental conditions within mines. For the oil & gas industry, connected worker solutions play a critical role in improving on-site efficiency and ensuring compliance with strict regulations. Key applications include remote asset monitoring for identifying maintenance needs, wearable devices that provide real-time data on workers' locations and vital signs in hazardous environments, and mobile collaboration platforms for streamlining communications between onshore teams and offshore platforms.
Regional Insights
America represents a highly developing landscape for a connected worker market due to significant investments in IoT technologies and the growing need for remote monitoring and collaboration within industries. The European Union has been proactive in encouraging digital innovation through funding programs, including Horizon 2020. With numerous industrial sectors across EU member countries, from manufacturing and construction to energy, there is a substantial opportunity for connected worker applications. Countries in Europe are taking significant steps by investing in Industry 4.0 initiatives that promote smart factories where connected worker technologies play a pivotal role. In the MEA region, countries such as Saudi Arabia and the United Arab Emirates (UAE) are rapidly embracing digital transformation, thereby creating a platform for the connected worker market. Initiatives, including Saudi Arabia's Vision 2030 and UAE's National Industry 4.0 Strategy, aim to drive industrial development and boost economic diversification by adopting advanced technologies. Asia-Pacific's strong manufacturing base and increasing investments in IoT technologies are driving demand for connected worker solutions in Asia-Pacific.
FPNV Positioning Matrix
The FPNV Positioning Matrix is pivotal in evaluating the Connected Worker Market. It offers a comprehensive assessment of vendors, examining key metrics related to Business Strategy and Product Satisfaction. This in-depth analysis empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital (V).
Market Share Analysis
The Market Share Analysis is a comprehensive tool that provides an insightful and in-depth examination of the current state of vendors in the Connected Worker Market. By meticulously comparing and analyzing vendor contributions in terms of overall revenue, customer base, and other key metrics, we can offer companies a greater understanding of their performance and the challenges they face when competing for market share. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With this expanded level of detail, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.
Key Company Profiles
The report delves into recent significant developments in the Connected Worker Market, highlighting leading vendors and their innovative profiles. These include 3M Company, Accenture PLC, Augmentir, Inc., Autodesk, Inc., AVEVA Group Limited by Schneider Electric SE, Avnet, Inc., Connect Up Technologies, LLC, Dozuki, Inc., Fujitsu Limited, Guardhat Inc., Hexagon AB, Honeywell International Inc., Innovapptive Inc., Intellinium, Magellan X Pte. Ltd., Mobile Lean S.L., Oracle Corporation, Poka inc. by IFS AB, QAD Inc., SAP SE, Smart Track S.R.L., Smartflow Nederland BV, Tata Consultancy Services Limited, Trimble, Tulip Interfaces, Inc., Vandrico Solutions Inc., Wipro Ltd., and Zebra Technologies Corp..
Market Segmentation & Coverage
1. Market Penetration: It presents comprehensive information on the market provided by key players.
2. Market Development: It delves deep into lucrative emerging markets and analyzes the penetration across mature market segments.
3. Market Diversification: It provides detailed information on new product launches, untapped geographic regions, recent developments, and investments.
4. Competitive Assessment & Intelligence: It conducts an exhaustive assessment of market shares, strategies, products, certifications, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players.
5. Product Development & Innovation: It offers intelligent insights on future technologies, R&D activities, and breakthrough product developments.
1. What is the market size and forecast of the Connected Worker Market?
2. Which products, segments, applications, and areas should one consider investing in over the forecast period in the Connected Worker Market?
3. What are the technology trends and regulatory frameworks in the Connected Worker Market?
4. What is the market share of the leading vendors in the Connected Worker Market?
5. Which modes and strategic moves are suitable for entering the Connected Worker Market?