Smart Worker Market - Forecast(2024 - 2030)

Smart Worker Market Overview

Smart Worker Market size was valued at US$ 2.15 billion in 2020 and is projected to reach US$ 7.12 billion by 2026 growing at a CAGR 17.89% during the forecast period 2021-2026. Increasing penetration of industrial IoTs facilitating the implementation of industry 4.0, smart cities or smart ports ensuring energy efficiency, resource optimization and reduction of operational costs while improving workers’ safety is set to drive the Smart Worker Market during 2021-2026. Rising government policies for ensuring occupational health and safety regulations in workplaces to mitigate the risks associated with workers’ safety are contributing to the growth of the market. Increasing adoption of smart personal protective equipment (PPE) such as smart hearing protection devices, smart headgear, smart glasses in connected factories utilizing Bluetooth low energy, LPWAN or wireless FAN network connectivity for high-speed data transfer providing a real-time alert in emergency situations in hazardous industrial environments is significantly triggering the growth of the market. Furthermore, the rising deployment of 5G infrastructure leveraging enterprise mobility management is also analyzed to accelerate the growth of the Smart Worker Market from 2021 to 2026.

Report Coverage

The report: “Smart Worker Market Forecast (2021-2026)”, by IndustryARC, covers an in-depth analysis of the following segments of the Smart Worker Market.
By offering: Hardware (smart hearing protection Devices, smart headgear, smart glasses, smart shoes, others) Software, Services (Professional, Managed)
By Connectivity: Cellular, Wi-fi, Zigbee, Bluetooth Low Energy/ Bluetooth, Low Power Wide Area Network (Long-range Wide Area Network, Narrowband IoT, Sigfox), Wireless Field Area Network, Others
By Industry Vertical: Automotive, Defense, Healthcare, Food & beverages, Chemical, Power, Retail & e-commerce, Utilities, Logistics & Transportation, Oil & Gas, Others
By Geography: North America(the U.S., Canada and Mexico); Europe(U.K., Germany, Italy, France, Spain, Russia,Rest of Europe); APAC (China, Japan, South Korea, India, Australia,Rest of APAC); South America(Brazil, Argentina, Rest of Americas);  RoW (Middle East & Africa)

Key Takeaways

• Utility sector is anticipated to witness the highest growth between 2021 and 2026 owing to the rising adoption of smart utility initiatives.
• North America is estimated to dominate the market during 2021-2026 owing to high investments towards up-gradation of advanced technologies and stringent government regulations for workers’ safety.
• Increasing adoption of smart factories, smart utility, and rising government policies for mitigating occupational risks and health hazards are augmenting the market.
• High capital investment during deployment is one of the challenges impeding the growth of the market. 

Global Smart Worker Market Value ($B) by year (2020-2026)

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Smart Worker Market Segment Analysis- By Connectivity

By Connectivity, Smart Worker Market has been segmented under Cellular, Wi-fi, Zigbee, Bluetooth Low Energy/ Bluetooth, Low Power Wide Area Network and Wireless Field Area Network. LPWAN dominated the market in 2020 acquiring a smart worker market share of 19% and is estimated to hold the major share during 2021-2026 due to rising demand for low power IoT networks enabling long-range connectivity to provide unison through the strategic network among all associated systems and devices in various industry verticals. With the increasing penetration of IIoT sensors, smart wearable leveraging computer vision, artificial intelligence, augmented reality the demand for smart worker solution to control work-related hazards has gained huge traction. For instance, in February 2021, Blackline Safety Corp. completed the acquisition of UK based wearable Technologies Ltd. to enhance worker’s safety and productivity of organizations leveraging wearable safety technology and such acquisitions are analyzed to drive the market during 2021-2026.

Smart Worker Market Segment Analysis- By Industry Vertical

By industry vertical, Smart Worker Market has been segmented under Automotive, Defense, Healthcare, Food & beverages, Chemical, Power, Retail & e-commerce, Utilities, Logistics & transportation, Oil & Gas. Utility sector dominated the market in 2020 acquiring a market share of 16% owing to the rising deployment of connected devices for smart utility initiatives. Deployment of smart worker solutions in the utility sector accelerate energy-saving enhancing safety and reducing maintenance costs and such advanced benefits are set to drive the market. With the increasing penetration of biometric and gas sensors or smart wearable devices, emergency response teams in utility industries continuously monitor health and safety conditions of the workers in the industrial environment to protect against emergency situations such as high temperature exposure during a fire, low oxygen and toxic gas environment and thus accelerating the growth of the market. For instance, in October 2020 Siemens Energy announced the partnership with Librestream for its connected worker solution leveraging augmented reality platform and such partnerships are anticipated to propel the growth of the market from 2021 to 2026.

Smart Worker Market Segment Analysis- By Geography

By Geography, Smart Worker Market has been segmented under North America, Europe, APAC, South America, and RoW. North America dominated the Smart Worker Market in 2020 acquiring a share of 35% and is estimated to hold the major share with a CAGR of 12.78% during 2021-2026 owing to high investments towards up-gradation of latest technologies and stringent government regulations about workers’ safety. For instance, in September 2019, Braskem Idesa’s petrochemical plant in Mexico adopted Honeywell’s intelligent wearable to gain better operational productivity and employee safety and such developments are augmenting the market in this region. APAC is estimated to be the fastest-growing market with a CAGR of 16.56% during the forecast period owing to heavy industrialization, a massive transition towards digitalization and rising awareness among industries about a safe industrial environment. APAC is estimated to be a hot zone for establishing manufacturing hubs during the forecast period 2021-2026 and thus analyzed to contribute to the growth of the market.

Smart Worker Market Drivers

Increasing adoption of smart factories are contributing towards smart worker market growth

Increasing adoption of industrial IoTs for bridging IT and OT to optimize real-time applications across various industry verticals are driving the market. Massive and quick adoption of connected factories enabling wireless communication among smart connected devices to streamline process, flows is boosting the market. Increasing investments towards digitalization in business organizations to monitor and control real-time information to optimize production yield, efficiency, quality, and safety have resulted in the growth of the market. Moreover, the transition from wired communication to wireless technology to reduce overall operational costs and simply network deployment has resulted into the growth of the market. Increasing investments towards smart utility harnessing the latest technology to improve infrastructure and services establishing a connected system has also contributed to the growth of the market. For instance, in November 2020, GuardHat launched a new smart glass-based solution in a partnership with Vuzix Corporation leveraging industrial IoT a platform for ensuring the safety of industrial front-line workers and such innovations are anticipated to steering the market growth between 2021 and 2026.

Increasing government regulations for ensuring workers’ safety is stimulating the market

Increasing stringent government regulations to control and reduce workplace hazards is stimulating the growth of the market. With an alarming growth in the number of occupational injuries, diseases and deaths, Government authorities are implementing rules and policies globally to establish a safe and healthy working environment. Most of the countries in South-east Asia with heavy industrialization and robust economic growth are prioritizing industrial and occupational safety highly and the industry leaders are investing heavily towards stronger worker safety while optimizing production efficiency. In July 2021, IndustriALL Global Union and its Indian affiliates highlighted increasing industrial accidents and workers’ deaths and addressed safety crisis to improve occupational health and safety. They have estimated 116 industrial accidents in the mining and chemical industry across India since the resumption of industrial activity after covid-19 lockdown. Such global union federation initiatives are significantly triggering the growth of the smart worker market.

Smart Worker Market Challenges

High Capital investment is analyzed to hamper the smart worker market growth

According to International Labour Organization, every year more than 1.1 million people die from occupational accidents or work-related diseases in Asia Pacific region. The least protected, least informed and least trained are the most affected. The adoption of smart worker solutions are rising drastically, high deployment cost due to its robust infrastructure and the high running costs associated with stringent security policies are being analyzed to hamper the market growth. Moreover, many small and medium enterprises are still reluctant to invest a large amount for safe industrial environment purposes and such limited budget allocation are hampering the market growth.

Smart Worker Market Landscape

Production Innovation, Acquisitions, Collaboration and R&D activities are key strategies adopted by players in the Smart Worker Market. In 2020, the market of Smart Worker industry outlook has been fragmented by several companies.   Smart Worker top 10 companies include

• Honeywell International, Inc.
• Accenture PLC
• Fujitsu Ltd.
• Intel Corporation
•  Oracle Corporation
• Wearable Technologies Ltd.
• Parsable, Inc.
• 3M Company
• Softweb Solutions Inc.
• Zebra Technologies Corporation

Acquisitions/Production Innovation

• In September 2020, Nymi, Inc. released a smart wristband for workplaces ensuring the health, safety and security of the connected workers.
• In July 2020, Honeywell launched a modular software solution to comply with industrial health and safety regulations.

Relevant Report Title:

Smart Personal Safety and Security Device Market
Report Code: ITR 0078

AR/VR and Wearable Devices Space Market
Report Code: ITR 0228

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