The global connected worker solutions market is set to vouchsafe a stonking growth of close to 23% over the next ten years, i.e. 2020-2030. Over the past half-decade, the market swelled at a noteworthy rate of 19.9%, on the back of dominant demand for industrial connectivity, globally. Moreover, the inception of industry 4.0, globally, has mandated industry verticals to go digital with their supply chain networks.
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In addition, the COVID-19 crisis exhibited massive opportunity for the ubiquitous manufacturing as well as services industry to go digital with their supply chain operations. This, in turn, has presented enormous prospects for connected worker solutions, which is thus set to witness booming opportunity over the coming years.
Key Trends of Connected Worker Solutions Market
- The hardware segment of connected worker solutions is expected to expand at an impressive CAGR of more than 23% over the forecast period.
- North America is the consummate market with a value of US$ 758.4 Mn in 2020, and is subjected to inflate at a zestful CAGR of more than 18% during the forecast period.
- Mobile devices/ tabs are opined to exhibit a high growth rate of around 2% CAGR, while tools & software under components are projected to add 7.2X value over the forecast period.
- East Asia is set to experience rapid expansion at 29% CAGR, owing to manufacturing prowess of the region with widespread implementation of high-end technology within supply chain operations.
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Key Segments Covered of Connected Worker Solutions Market
Component
- Hardware
- Headgear
- Glasses
- Mobile Devices / Tabs
- VR Headsets
- Sensors / RFID
- Network devices
- Tools & Software
- Services
Size of Enterprise
- Small and Medium Enterprise
- Large Enterprise
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Enhanced Connectivity and Targeted Acquisitions by Key Players
Key players such as Honeywell International Inc. and Zebra Technologies Corp. are hinging their emphasis on enhanced connectivity and targeted acquisitions in the market space, to capture substantial market presence.
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