Rockville , July 11, 2023 (GLOBE NEWSWIRE) -- As per Fact.MR, a provider of market research and competitive intelligence, the global connected workers market is predicted to climb to US $ 33.31 Billion by 2033 and is witnessing a CAGR of 23.5% during 2023-2033.
An employee who is equipped with digital tools and connected devices, such as mobile devices, wearables, or augmented reality (AR) glasses, is known as a connected worker. These tools and devices enable the employee to access information, communicate with coworkers and managers, and perform tasks more effectively and efficiently.
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Real-time data and analytics can be used by connected workers to make better decisions, communicate with remote teams more easily, and get guidance and support from their supervisors. By monitoring employees in real time and warning them of potential dangers, these technologies can also increase worker safety.
The emerging Industry 4.0 trend, which involves integrating cutting-edge technologies like artificial intelligence, the Internet of Things (IoT), and cloud computing into manufacturing and other industries to improve efficiency, productivity, and safety, places a strong emphasis on connected workers.
Key Driving Forces Accelerating the Market Growth
- The proliferation of IoT technology has paved the way for connected worker solutions. IIoT enables the integration of various devices, sensors, and wearables, allowing real-time data collection and analysis. This connectivity empowers workers with enhanced communication, situational awareness, and safety.
- As per FACT.MR, the US market is expected to reach US $ 9.06 Bn by 2033 due to expanding use of Industry 4.0 technologies and greater emphasis on worker safety.
- Wearable devices, such as smart glasses, smart helmets, and smartwatches, have become more sophisticated, affordable, and user-friendly. These devices enable hands-free access to critical information, remote expert guidance, and augmented reality (AR) overlays, improving productivity and efficiency.
- The focus on worker safety and regulatory compliance has intensified across industries. Connected worker solutions offer real-time monitoring of environmental conditions, worker vitals, and adherence to safety protocols. This helps organizations ensure a safe work environment, mitigate risks, and meet compliance standards.
- The COVID-19 pandemic has accelerated the adoption of remote work and distributed workforces. Connected worker solutions enable seamless collaboration, virtual training, and remote assistance, bridging the gap between on-site and off-site workers.
Key Companies Profiled in This Report
- 3M Company
- Accenture
- Fujitsu Ltd
- Honeywell International Inc
- Oracle Corp
- Zebra Technologies
Vital indicators shaping future of the industry
Continued advancements in technology, such as 5G networks, edge computing, artificial intelligence (AI), and machine learning (ML), will drive the capabilities of connected worker solutions. These advancements will enable faster and more reliable connectivity, real-time data processing, and enhanced analytics, leading to improved productivity and efficiency for connected workers.
The regulatory landscape surrounding connected worker solutions will play a crucial role in their future. Governments and regulatory bodies are likely to establish standards and guidelines for the deployment and use of connected worker technologies, particularly in industries with high safety requirements. Adherence to regulations and compliance standards will be essential for market growth.
As connected worker solutions involve the collection and transmission of sensitive data, data privacy, and security will be paramount. The future of the market will depend on the development of robust security measures, encryption techniques, and privacy frameworks to protect worker data and mitigate cybersecurity risks. Organizations that prioritize data privacy and security will gain a competitive edge.
Different industries will adopt connected worker solutions at varying rates based on their unique requirements and challenges.
Challenges hindering the market growth
Connected worker solutions involve the collection, transmission, and storage of sensitive data. The potential risks associated with data breaches, unauthorized access, and privacy violations are major concerns. Ensuring robust security measures, implementing encryption techniques, and complying with data protection regulations are essential to build trust and overcome security and privacy barriers.
Introducing connected worker solutions often requires significant changes in work processes, roles, and responsibilities. Resistance to change from workers, supervisors, and management can hinder adoption. Organizations need to invest in change management strategies, provide adequate training and support, and effectively communicate the benefits of connected worker technologies to overcome resistance and foster acceptance.
Strategies for manufacturers/suppliers to scale in the market
The connected workers market is a highly fragmented market that comprises competitors ranging from small start-ups to tech major players.
- Manufacturers should focus on developing comprehensive connected worker solutions that address a wide range of industry-specific needs. These solutions should be customizable to meet the unique requirements of different organizations.
- Eleksen, a British start-up, offers end-to-end solutions to improve worker safety in a variety of industries. Their Tap&Go connected worker solutions offer the continuous collection of data for predictive safety improvements and enhanced efficiency.
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