According to the research 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, global connected worker market is likely to account for USD 9,998.4 million by the year 2026.
 

Rising safety concerns coupled with strict regulations concerning safe working environment are some of the key factors driving the growth of global connected worker market.
 

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A connected worker ecosystem basically tracks the progress and movements of employees through planned or unplanned tasks. These devices usually record audio and video from the employee’s setting and can sense environmental conditions including vibration, temperature, and presence of gas.
 

Connected worker system are known to reduce skill gaps as well as offer on-the-job guidance for employees. Managers and supervisors can use these systems to effectively route and plan for current or upcoming operational situations. It also allows for improved collaboration and communication between workers, further enhancing the efficiency and productivity.  
 

Mounting adoption of IoT technologies, increasing internet penetration, increasing demand for smartphones, and growing tech-savvy population are also aiding towards the overall market expansion.
 

Technological breakthroughs in this business space, growing demand for collaborative working solutions, high demand for mobility tools, and focus towards improving workforce safety and productivity are fueling global connected worker industry size.
 

By component type, the hardware segment captured the largest market share in terms of revenue in the year 2019. However, global connected worker industry size from software segment is predicted to expand with a CAGR of 20.7% between 2020 and 2026.
 

Moving on to technology type, the RFID location triangulation segment is expected to generate revenues worth USD 2.90 billion for the overall market by the year 2026.
 

Regionally, Europe and North America each accounted for the significant portion of global connected worker market share in 2019 and are set to record continuous growth during the analysis timeframe. In fact, the report states that North America amassed returns worth USD 992.2 million for this industry vertical in the year 2019 owing to availability of advanced telecom and cloud infrastructure, inclination towards BYOD solutions, and increasing number of automated tasks.
 

Asia-Pacific market, on the other hand, is expected to record 22% CAGR through 2026.
 

Smart Track S.r.l, Avnet Inc., Wearable Technologies Limited, Oracle Corp., Wipro Ltd., Zebra Technologies Corp., Fujitsu Ltd., Honeywell International Inc., 3M Company, Intel Corp., and Accenture plc are the key competitors in global connected worker market.