Connected Worker Market Growth Analysis | 2023-2028

Market Insights

The connected worker market was estimated at USD 4.85 billion in 2022 and is likely to grow at a CAGR of 18.36% during 2023-2028 to reach USD 13.38 billion in 2028.

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Market Dynamics

Introduction

A connected worker is an IT solution that enables remote workers to collaborate safely and efficiently with the company’s central control system. The solution delivers critical information to remote or field workers in real-time at their actual point of work which they require to do their tasks. The solution can be installed on wearable devices, smartphones, and tablets. With the increased usage of IoT sensors and artificial intelligence, the solution can process a large volume of data and provide detailed advice to field workers on demand. The solution keeps learning through advanced machine learning algorithms to refine the advice over time. Enterprises, using connected worker solutions, can not only provide quick support to their field workers but also ensure their safety.

COVID-19 Impact

COVID-19 had a negative impact on the connected worker market as many businesses remained shut down for a long period and people were restricted from leaving their homes during the lockdown. This resulted in a massive decline in the revenue of connected worker solution providers across the globe in 2020. The market is expected to return to its normal state from 2022 onward.

Market Drivers

The connected worker market is growing steadily owing to the enterprises’ need for efficient execution of field services, worker safety, and increasing usage of cloud-based services.

Furthermore, development in IoT technologies augmented reality, and the use of artificial intelligence and machine learning offer new opportunities for growth to the market. However, budget constraints and lack of awareness are some of the restraining factors for the growth of the connected worker market.

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Key Players

Key players operating in the connected worker market are:

• Accenture (Ireland),
• SAP (Germany),
• Oracle (The U.S),
• Honeywell (The U.S),
• Intel (The U.S),
• Fujitsu (Japan),
• Zebra Technologies (The U.S.),
• Wipro (India),
• 3M (The U.S), and
• Avnet (The U.S).

Note: The above list does not necessarily include all the top players in the market.

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Segment Analysis

End User Type

The connected worker is widely popular in enterprises of all sizes.

• The users from the sectors of manufacturing, building, construction, mining, and telecom extensively use various connected worker solutions to efficiently carry out their respective jobs.
• The home service segment is expected to grow at the highest rate during the forecast period owing to the increasing adoption of connected worker solutions to gain a competitive advantage with quick and effective service delivery.

Regional Insights

Among regions, North America is found to be the leader during the forecast period due to the presence of major connected worker solution providers and the adoption of the latest technologies by field workers.

• The increasing digitalization in the Asia Pacific region and fast-growing construction sector offers great opportunity for growth to the connected worker solution providers.
• The region is expected to witness the highest CAGR during the forecast period.

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Research Methodology

• This strategic assessment report from Stratview Research provides a comprehensive analysis that reflects connected worker market realities and future market possibilities for the forecast period.
• The report segments and analyzes the market in the most detailed manner in order to provide a panoramic view of the market.
• The vital data/information provided in the report can play a crucial role for market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate growth strategies to expedite their growth process.
• This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools.
• More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data.
• We conducted more than 15 detailed primary interviews with market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.

Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into market dynamics and will enable strategic decision-making for existing market players as well as those willing to enter the market. The following are the key features of the report:

• Market structure: Overview, industry life cycle analysis, supply chain analysis.
• Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
• Market trend and forecast analysis.
• Market segment trend and forecast.
• Competitive landscape and dynamics: Market share, Service portfolio, New Product Launches, etc.
• COVID-19 impact and its recovery curve
• Attractive market segments and associated growth opportunities.
• Emerging trends.
• Strategic growth opportunities for the existing and new players.
• Key success factors.

Market Segmentation

This report studies the market, covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.

The connected worker market is segmented into the following categories:

By Component Type

• Hardware
• Software
• Services

By Technology Type

• Cellular
• Bluetooth
• RFID
• Zigbee
• Wi-Fi
• LPWAN
• WFAN

By Deployment Mode Type

• Cloud
• On-premises

By Organization Size Type

• Large Enterprises
• Small- and Medium-sized Enterprises

By End-User Type

• Manufacturing
• Building and Construction
• Mining
• Oil and Gas
• Utilities
• Telecom
• Home Service

By Region

• North America (Country Analysis: the USA, Canada, and Mexico)
• Europe (Country Analysis: Germany, France, the UK, Russia, Spain, and the Rest of Europe)
• Asia-Pacific (Country Analysis: China, Japan, India, South Korea, and the Rest of Asia-Pacific)
• Rest of the World (Sub-Region Analysis: Latin America, the Middle East, and Others)

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Report Customization Options

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to 3 players)
• SWOT analysis of key players (up to 3 players)

Competitive Benchmarking

• Benchmarking of key players on the following parameters: product portfolio, geographical reach, regional presence, and strategic alliances.

Custom Research: Stratview Research offers custom research services across sectors. In case you need any custom research requirements related to market assessment, competitive benchmarking, sourcing and procurement, target screening, or other requirements, please send your inquiry to sales@stratviewresearch.com.