Global Smart Worker Market is expected to grow from USD 1.36 Billion in 2016 to USD 5.26 Billion by 2024, at a CAGR of 18.43% between 2017 and 2024. (Detailed analysis of the market CAGR is provided in the report)
Global Smart Worker Market is segmented by Offering, Connectivity Technology, Industry, and Geography. By offering, a market is segmented into Software, Hardware, and Services. On the basis of connectivity technology market is divided into Zigbee, Cellular, Wi-Fi, Low-Power Wide-Area Network (Lpwan), Wireless Field Area Network (Wfan), and Ble/Bluetooth. By industry smart worker market is segmented into Oil & Gas, Power & Utilities, Manufacturing, Mining, Construction, and Others.
A growing focus of manufacturing companies on energy efficiency, resource optimization, and reduction in production and operating costs and rising adoption of industrial IoT, and stringent regulations in occupational health and safety regulations across the globe are the major factors driving the growth of the global smart worker market.
However, huge initial investments for deployment of smart worker solutions and lack of technological awareness among blue-collar workers are the key restraining factors for the market growth.
Further key findings from the report:
• From the industry segment, the oil & gas industry is anticipated to experience higher growth rates between 2017 and 2024. The wide use of IoT enabled the smart worker in oil & gas industry to monitor health workers would drive the smart worker market in this segment. However, the manufacturing industry held the largest share of smart workers market in 2016
• From the offering segment, smart worker market for the software segment is expected to grow at the highest growth rates during the forecast period. This can be attributed to its ability to enable supervisors to track time, wellness, safety location and working environment of workers
• Among geographical regions, North America accounted for the largest share of the global smart workers market and is anticipated to dominate the market in near future. The growth of this region can be attributed to the presence of large manufacturing and oil and gas companies operating in this region.
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