The continuous evolution in the digital world has made a huge impact on human lives. Nowadays, digital technology plays a crucial role in all types of business organizations for increasing their efficiency as well as productivity. Most of the organizations have already adopted connected worker solutions to maintain the proper connectivity with their workers for achieving high-profit margins. Additionally, the solution ensures worker safety through remote tracking systems and better regulatory compliance. The connected worker solutions notify companies about the unexpected accidents happening in the work field and reduce the chances of any sort of errors, thus triggering the adoption of the connected worker in the market.
The managerial team of organizations uses a connected worker ecosystem for effective task planning for present and future operational situations. Furthermore, it also helps to maintain proper collaborating and communication among workers for sharing work knowledge to improve efficiency and productivity. Some restraints experienced by the global market during the time of strict lockdown imposition by several countries to limit COVID-19 spread. However, the relaxation on some restrictions enabling manufacturers to resume operations at a higher rate further creating demand for the connected worker market. Remote assistance to the workers with the support of Augmented Reality (AR) has increased the capabilities of connected worker solutions.
Key Factors Propelling Growth for Connected Worker Market
- Increasing safety concerns and imposed stringent regulations with regards to workforce safety primarily creating scope for the connected worker market.
- Rising broadband internet penetration, increasing use of Smartphone, growing inclination towards technological solutions, and adoption of IoT further supporting the growth of the global market.
- Increasing demand for mobility, rising need for the collaborative working environment, and necessity to improve workforce productivity creating more opportunities within the market at domestic as well as global level.
- Improvement in the process efficiency through a regular tracking system enabling vendors to adopt connected worker solutions.
- Continuous research and development are happening in this field for bringing new functionalities to the solution further creating market opportunities.
- The connected worker platform reduces the work flaws mostly caused due to manual processes, thereby helping the worker to execute the task properly without the indulgence of any risk.
- Real-time data gathering is one of the key features which benefits organizations to enhance their operational matrices offering exponential growth for the global market.
- In terms of revenue generation, North America is holding a higher share of the connected worker market and is anticipated to keep this lead ahead in the coming years. The presence of well-established and financially stable telecom infrastructures are helping the region to grow at a rapid pace.
- The popular trend of BYOD has majorly impacted the regional market fuel the growth acceleration. Moreover, the growing demand for automation of tasks and increased user base of mobile devices created lucrative opportunities in the region.
- Increasing technological advancements coupled with the invention of innovative products at low costs are expected to boost the demand for connected worker solutions in the European region.
- Several new ventures trying to expand their operations in the market complementing the overall growth prospects in developing and developed countries.
The market growth is driven by some of the key market players such as 3M Company, Wipro, Vandrico Solutions Inc., Wearable Technologies Limited, Accenture, Fujitsu Ltd., Oracle Corporation, Intel, Smart Track S.R.L., Honeywell International Inc., Zebra Technologies, etc. Leading market participants are working towards bettering their market position by involving in several activities such as acquisitions, mergers, collaborations, and product launches to stay relevant within the market.
Deep-dive Insights on Global Connected Worker Market By Polaris Market Research: https://www.polarismarketresearch.com/industry-analysis/connected-worker-market