As per the report titled ‘Connected Worker Market Share, Size, Trends, Industry Analysis Report By Component; By Technology; By Deployment; By End-user; By Regions, Segment Forecast, 2020 - 2026’, available with Market Study Report, worldwide connected worker market is projected to reach a valuation of USD 9,998.4 million by the year 2026.
 

According to the findings of the report, global connected worker market is majorly driven by increasing safety concerns and strict regulations regarding workforce safety. Moreover, rapid digitalization guided by increasing adoption of IoT, extensive use of smartphones, rising penetration of broadband internet, and increasing number of technologically inclined consumers are rendering a positive industry outlook.
 

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Besides, growing necessity to streamline operations for improving productivity& safety, technological advancements, along with increasing demand for collaborative working environment & mobility are the other factors contributing to global connected worker market expansion.
 

For uninitiated, connected worker ecosystem keeps a log of the movements and progress of the workforce throughout planned and unplanned tasks. This set of devices capture both audio and video from the worker’s environment, measure environmental parameters like gas presence, temperature, vibration, and detect falls or other incidents. Moreover, incorporation of wearable technologies with displays and augmented reality applications for guidance delivery and vital worker data extrapolation have positively influenced global connected worker market outlook. Besides, reduced skills gaps, effective route & task planning, and enhanced communication & collaboration are the key benefits encouraging the product adoption.
 

Based on component, hardware segment was the leading contributor to global connected worker industry revenue in 2019. Whereas, workforce analytics from software segment is projected to register an yearly growth rate of 20.7% over the forecast timeline. Speaking of the technology landscape, RFID location triangulation segment is expected to grow considerably and amass USD 2.90 billion by 2026.
 

As per trusted estimates, Asia Pacific connected worker industry is anticipated to showcase a year-over-year growth rate of 22%, however North America led the industry growth in 2019, generating USD 922.2 million in revenue. Presence of leading telecom operators and established cloud infrastructure, increasing adoption of BYOD policies among enterprises, and growing demand for task automation are the major factors contributing to the regional industry expansion.
 

Key players influencing global connected worker market trends are Smart Track S.R.L., Avnet, Inc., Wearable Technologies Ltd., Oracle Corp., Wipro Ltd., Zebra Technologies Corp., Fujitsu Ltd., Honeywell International plc, 3M Company, Intel Corp., and Accenture plc.