PUNE, India, April 30, 2018 /PRNewswire/ --
ReportsnReports.com adds smart worker 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. The increasing focus of manufacturing companies on energy efficiency, resource optimization, and reduction in production and operating costs is driving the growth of the smart worker market. North America held the largest share of smart worker market in 2017 and is expected to grow at the highest CAGR during the forecast period.
Browse 73 Market Data Tables and 37 Figures Spread through 126 Pages and in-depth TOC on "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" http://www.reportsnreports.com/reports/1424889-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-for-st-to-2023.html .
Some key players in the smart worker 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).
"The smart worker market for manufacturing industry held the largest share in 2017."
The demand for smart worker solutions across various applications in the oil & gas industry is expected to grow significantly over the next 5 years. The manufacturing industry accounted for the largest market share in 2017. The oil & gas industry is at the forefront of adopting smart worker solutions. The uses of IoT-enabled smart worker solutions help the oil & gas industry to monitor workers' health and improve their safety in hazardous environments.
"The overall smart worker market is expected to grow at a CAGR of 18.69% between 2018 and 2023."
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North America is expected to hold the largest share of the smart worker market by 2023. Automation in various sectors pertaining to industrial production is expected to increase in the US, which is likely to increase the use of smart wearable by blue-collar workers. The increasing R&D in the field of IoT for new and improved technologies and rising demand for improved lifestyle are the 2 crucial factors driving market growth in North America.
The manufacturing industry held the largest Smart worker market share in 2017. This is attributed to the growing need to increase safety, optimize performance, and enhance productivity. These solutions track real-time information on environmental hazards at workplaces and offer preventive measures to ensure safety and monitor worker health, which are some of the critical areas that affect the direct and indirect cost of manufacturing sites.
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The market for software used in smart worker solutions is expected to grow at the highest CAGR between 2018 and 2023. This can be due to its capability to enable supervisors to track time, safety, wellness, productivity, location, and working environment of workers, among many others, and to analyze the situation accurately.
Breakdown of primary interviews: by company type, designation, and region:
- By Company Type: Tier 1 - 61%, Tier 2 - 20%, and Tier 3 - 19%
- By Designation: C-Level Executives - 19% and Managers - 81%
- By Region: APAC -20%, North America - 34%, Europe - 42%, and RoW - 4%
Another research titled the smart electric meter market is projected to grow from an estimated USD 9.27 billion in 2018 to USD 11.33 billion by 2023, at a CAGR of 4.11%, from 2018 to 2023. Factors such as the increasing amount of renewable energy in the generation mix, a rising trend of distributed generation on Medium Voltage (MV) networks, a greater focus on real estate development by the investment community. Key players in the smart electric meter market include Itron (US), Landis+Gyr (Toshiba Corporation) (Switzerland), Jiangsu Linyang (China), Wasion (China), Aclara Technologies(Hubbell Incorporated) (US), Schneider (France), Siemens (Germany), Honeywell (US), and Iskraemeco (Slovenia) available with 154 pages at http://www.reportsnreports.com/purchase.aspx?name=635042 .
Explore more reports on Semiconductor and Electronics at http://www.reportsnreports.com/market-research/semiconductor-and-electronics/ .
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