According
to the new research report "Smart Worker Market by Offering
(Hardware, Software, Service), Connectivity Type (BLE/Bluetooth, LPWAN, WFAN),
Industry (Manufacturing, Oil & Gas, Construction, Power & Utilities,
Mining), and Geography - Global Forecast to 2023" The market is expected to be valued at
USD 1.87 Billion in 2018 and is likely to reach USD 4.40 Billion by 2023, at a
CAGR of 18.69% between 2018 and 2023. Stringency in occupational health and
safety regulations across the world, along with the growing adoption of
industrial IoT, is contributing to the growth of the smart worker market.
Hardware segment to hold largest size of
smart worker market by 2023
The
hardware segment is expected to dominate the smart worker market during the
forecast period. Smart worker solutions consist of several high-priced hardware
and live line tools, such as protective textile equipment, head protection
equipment, eyewear and hearing protection devices. These tools, being highly
important to send and receive data, need to be deployed initially in the smart
worker solution implementation stage.
Smart worker market for oil & gas to
grow at highest CAGR between 2018 and 2023
Among
all industries, the smart worker market for the oil & gas industry is
likely to grow at the highest CAGR during the forecast period. The use of IoT-enabled
smart worker solutions help oil and gas companies to monitor workers’ health
and improve their safety in hazardous environments.
North America held largest share of
smart worker market in 2017
North
America held the largest share of the smart worker market in 2017. There is a
need to reduce the operational cost in industrial facilities owing to the
growing price war in this region. The rising demand in the manufacturing, oil
& gas, and power & utilities industries to improve the worker performance
and safety and reduce the overall operational costs. This is the key factor for
a large market share of this region in the smart worker market.
The
report profiles the key players in the smart worker market. The competitive
landscape of the market presents an interesting picture of the strategies
adopted by these players to grow in the market. Some key players in this market
are Honeywell (US), DAQRI (US), Fujitsu (Japan), Accenture (Republic of
Ireland), Vandrico (Canada), Intellinium (France), Avnet (US), 3M (US), Oracle
(US), Zebra Technologies (US), Parsable (US), Rice Electronics (US), Softweb
Solutions (US), Recon Instruments (Canada), Wearable Technologies Limited (UK),
Corvex Connected Safety (US), ProGlove (Germany), Smart Track (Italy), hIOTron
(India), and Solution Analysts (India).
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