At 23.2% CAGR, Connected Worker Market to Reach US $23.4

Dallas, Texas, Oct. 25, 2022 (GLOBE NEWSWIRE) — The global connected worker market demand has increased as a result of companies adopting advanced gadgets to operate remotely due to rising industrial automation, high-end technology innovation, and the advent of industry 4.0. Additionally, the increasing demand for workforce safety in risky sectors and the growing adoption of IoT in end-use industries are likely to open up enormous potential opportunities for the industry. Market growth is also assured by the digitalization of the supply chain and the reconciliation of related labor agreements inside the facility. Market growth will be fueled by IIoT (Industrial Internet of Things) implementation for increasing plant efficiency and ensuring employee prosperity.

The global connected worker market was valued at US$ 3.19 billion and is likely to reach US$ 23.4 billion by 2029 at a CAGR of 23.2% during the prediction period of 2022-2029.

A major factor influencing the growth of the connected worker market in the near future is the expanding technological progress coupled with the creation of new products at affordable prices globally. The demand for connected worker markets is anticipated to rise throughout the anticipated time period as a result of rising expenses in the IT service sector.

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The market for connected workers is expanding thanks to the rising smartphone use, broadband internet use, and a rising number of tech-savvy consumers. Every firm wants to increase productivity and efficiency in manufacturing industries, and this desire is what is fueling the expansion of the connected worker market. The market expansion of linked worker systems is impacted by a number of factors, including strict rules governing workplace safety.

Global connected worker market scope: