Connected Worker Market Size
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 7.08 Billion |
| Market Size (2029) | USD 21.92 Billion |
| CAGR (2024 - 2029) | 25.39 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Connected Worker Market Analysis
The Connected Worker Market size is estimated at USD 7.08 billion in 2024, and is expected to reach USD 21.92 billion by 2029, at a CAGR of 25.39% during the forecast period (2024-2029).
- The Connected Worker market is rapidly evolving, fueled by technological advancements and a growing emphasis on productivity, safety, and employee engagement. Technologies like IoT sensors, AR glasses, and AI analytics are being widely adopted, underscoring their pivotal role in transforming work environments.
- Approximately 49% of workers lose an average of 10 minutes each hour due to technological issues, such as malfunctioning or insufficient devices. This results in a weekly productivity loss of nearly three hours per worker. There's a noticeable shift towards solutions that are human-centered, emphasizing not just operational efficiency but also employee engagement, satisfaction, and professional growth. This comprehensive approach seeks to enhance both productivity and job satisfaction.
- The rise of connected worker platforms is closely linked to the broader Industry 4.0 movement, which champions the fusion of digital technologies into manufacturing and industrial processes. As technology progressed, organizations became increasingly focused on boosting the agility and responsiveness of their workforce.
- For small and medium-sized enterprises (SMEs), the upfront costs of implementing connected worker solutions can be daunting. This financial hurdle restricts their adoption of these technologies, potentially stifling the market's growth by missing out on opportunities from SMEs.
- In the wake of COVID-19, there's been a heightened focus on worker safety. Connected worker solutions, equipped with tools like intelligent sensors and wearables, play a crucial role in ensuring adherence to safety standards. This emphasis on safety is paramount in high-risk settings, where any operational disruption can lead to significant repercussions.
Connected Worker Market Trends
Oil and Gas to Hold Significant Share
- Connected Worker technology is transforming the oil and gas industry. For these companies, ensuring worker safety is paramount. Given the complexities of oil rigs, refineries, and processing plants, having real-time visibility can enhance safety and efficiency, allowing workers to focus on their tasks without distractions like manuals or walkie-talkies.
- OPEC reported in 2023 that the world possesses approximately 1.57 trillion barrels of proved crude oil reserves, a figure that continues to grow annually. As oil and gas firms modernize their operations, bolstered by robust private 5G connectivity, the notion of a digital or Connected Worker has transitioned from a mere test case to an essential component.
- Ericsson highlights that connected worker technologies can diminish workplace incidents by up to 27% in high-risk settings. This is achieved through real-time monitoring and instant alerts for hazardous situations. Wearable devices play a pivotal role, tracking vital signs and environmental factors to ensure prompt reactions to potential threats.
- Ericsson collaborates with various companies, leveraging cross-industry expertise to expedite digital transformation in industrial settings. A notable partner, RealWear, stands out as the premier provider of assisted reality wearable solutions tailored for today's industrial frontline. They've introduced a mixed-reality headset featuring a 16x9 display positioned just below the user's eyeline, granting access to visual data and essential documents, thus negating the need for physical manuals.
- The embrace of connected worker solutions encompasses IoT devices, wearables, and real-time analytics. These tools empower firms to effectively monitor vital signs, locations, and environmental factors. Furthermore, AI-driven platforms are proving invaluable, slashing unplanned downtimes by 17-22% and enhancing maintenance response times by up to 20%.
- Operators in the UK Continental Shelf are prioritizing efficiency, optimization, and cost reduction to maximize economic recovery. Petrofac acknowledges the transformative potential of digital technologies, viewing them as pivotal to its strategic vision. With a growing workforce in the oil and gas sector, the trend towards adopting connected worker platforms is poised for significant expansion.
North America is Expected to Hold a Major Share of the Market
- Driven by technological advancements and a rising demand for enhanced productivity and safety, the Connected Worker market in North America is witnessing notable growth. Key sectors in the region leveraging connected worker solutions encompass manufacturing, construction, oil & gas, mining, and healthcare.
- With its advanced technological infrastructure and a high rate of business acceptance, North America, especially Canada, is poised to lead in adopting connected worker solutions. Many organizations in Canada, especially in sectors like oil and gas, emphasize the benefits, citing significant productivity boosts from real-time data access.
- In 2023, North America dominated the connected worker market, bolstered by a robust presence of solution providers and a swift adoption of technology by field workers. The U.S. stands out, particularly for its integration of cutting-edge technologies such as 5G and IoT solutions.
- Key players, including Honeywell International Inc. and Zebra Technologies Corp., are focusing on enhanced connectivity and strategic acquisitions to solidify their market presence. In a bid to bolster its market dominance, Honeywell recently unveiled its enterprise performance management solution, Honeywell Forge, aimed at facilitating real-time decision-making.
- As North American organizations increasingly acknowledge the advantages of connected worker platforms, the market is set for significant growth through 2024 and beyond. This momentum underscores the critical role of technology integration in boosting workplace productivity and safety.
Connected Worker Industry Overview
The Connected Worker market is highly competitive and fragmented, primarily driven by the presence of major players. These key players employ strategies such as mergers, acquisitions, and product innovations to maintain a competitive edge and broaden their global footprint. Key player include ActionStreamer, Inc., Librestream Technologies Inc., Honeywell International Inc. and others.
The connected worker market is set for substantial growth as organizations increasingly recognize the benefits of integrating advanced technologies into their operations. By focusing on both operational efficiency and employee engagement, businesses can create a more productive, safe, and satisfying work environment for their workforce.
Connected Worker Market Leaders
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ActionStreamer, Inc.
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Librestream Technologies Inc.
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Honeywell International Inc.
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Augmentir, Inc.
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Poka Inc.
*Disclaimer: Major Players sorted in no particular order
Connected Worker Market News
- November 2024: SymphonyAI, a leader in predictive and generative AI SaaS products for the enterprise, was named a leader in the Augmented Connected Worker market by Frost & Sullivan in their 2024 report on "Augmented Connected Worker Platforms," securing the top spot on the growth index axis.
- September 2024: Plex announced that it added connected worker capabilities to MES. The new Plex Connected Frontline Workforce (CFW) application is intended to help manufacturers better manage problems they face around a diminishing workforce and expertise. The CFW capabilities are embedded in the Plex Manufacturing Execution System, a part of its SaaS smart manufacturing platform.
Connected Worker Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET INSIGHTS
4.1 Market Overview
4.2 Industry Attractiveness - Porter's Five Forces Analysis
4.2.1 Bargaining Power of Suppliers
4.2.2 Bargaining Power of Consumers
4.2.3 Threat of New Entrants
4.2.4 Threat of Substitute Products
4.2.5 Intensity of Competitive Rivalry
4.3 Industry Value Chain Analysis
4.4 Assessment of Impact of macroeconomic trends
4.5 Technology Snapshots
5. MARKET DYNAMICS
5.1 Market Drivers
5.1.1 Digital Transformation Initiatives
5.1.2 Enhanced Safety and Compliance Requirements
5.2 Market Restraints
5.2.1 High Implementation Costs
6. MARKET SEGMENTATION
6.1 By Component
6.1.1 Hardware
6.1.2 Software
6.1.3 Services
6.2 By Deployment
6.2.1 Cloud
6.2.2 On-Premises
6.3 By End-users
6.3.1 Manufacturing
6.3.2 Mining
6.3.3 Oil and Gas
6.3.4 Construction
6.3.5 Other End-users
6.4 By Geography***
6.4.1 North America
6.4.2 Europe
6.4.3 Asia
6.4.4 Australia and New Zealand
6.4.5 Latin America
6.4.6 Middle East and Africa
7. COMPETITIVE LANDSCAPE
7.1 Company Profiles
7.1.1 ActionStreamer, Inc.
7.1.2 Librestream Technologies Inc.
7.1.3 Honeywell International Inc.
7.1.4 Augmentir, Inc.
7.1.5 Poka Inc.
7.1.6 Tulip Interfaces Inc.
7.1.7 Innovapptive Inc.
7.1.8 Workerbase
7.1.9 Andonix
7.1.10 Zebra Technologies Corporation
- *List Not Exhaustive
8. INVESTMENT ANALYSIS
9. FUTURE OUTLOOK OF THE MARKET
Connected Worker Industry Segmentation
A connected worker is any person whose working life is changing due to digital and other technologies. The connected worker space is all about technology that empowers employees, improves productivity, and ensures worker safety. Workers can learn new things, collaborate with their colleagues, and gain access to information that helps them perform jobs better.
The connected worker market is segmented by component (hardware, software, services), by deployment (cloud, on-premises), by end-users (manufacturing, mining, oil and gas, construction, other end-users), by geography (North America, Europe, Asia-Pacific, Latin America, Middle East and Africa). The market sizes and forecasts are provided in terms of value (USD) for all the above segments.
| By Component | |
| Hardware | |
| Software | |
| Services |
| By Deployment | |
| Cloud | |
| On-Premises |
| By End-users | |
| Manufacturing | |
| Mining | |
| Oil and Gas | |
| Construction | |
| Other End-users |
| By Geography*** | |
| North America | |
| Europe | |
| Asia | |
| Australia and New Zealand | |
| Latin America | |
| Middle East and Africa |
Connected Worker Market Research FAQs
How big is the Connected Worker Market?
The Connected Worker Market size is expected to reach USD 7.08 billion in 2024 and grow at a CAGR of 25.39% to reach USD 21.92 billion by 2029.
What is the current Connected Worker Market size?
In 2024, the Connected Worker Market size is expected to reach USD 7.08 billion.
Who are the key players in Connected Worker Market?
ActionStreamer, Inc., Librestream Technologies Inc., Honeywell International Inc., Augmentir, Inc. and Poka Inc. are the major companies operating in the Connected Worker Market.
Which is the fastest growing region in Connected Worker Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Connected Worker Market?
In 2024, the North America accounts for the largest market share in Connected Worker Market.
What years does this Connected Worker Market cover, and what was the market size in 2023?
In 2023, the Connected Worker Market size was estimated at USD 5.28 billion. The report covers the Connected Worker Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Connected Worker Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Connected Worker Industry Report
Statistics for the 2024 Connected Worker market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Connected Worker analysis includes a market forecast outlook for 2024 to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
