Product Launches and Developments have been the Key Strategies Adopted by the Players to Grow and Stay Competitive in the Smart Worker Market.
The smart worker market has been segmented on the basis of offering, connectivity technology, industry, and geography. The 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.
Product launches and developments have been the key strategies adopted by the players to grow and stay competitive in the smart worker market. These strategies together accounted for ~56% of the overall growth strategies adopted by the key players in the smart worker market between January 2015 and January 2018. The ongoing R&D in the smart worker space has encouraged companies to adopt these strategies. Besides product launches and developments, companies have adopted partnerships, collaborations, and strategic alliances to enhance their product portfolio and to expand their sales and distribution networks. These strategies have significantly increased strengthened their position in the overall smart worker market. These strategies collectively accounted for ~18% of the overall growth strategies adopted by the key players in the smart worker market between January 2015 and January 2018. 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).
Honeywell (US) is an advanced technology-based product manufacturing company assisting its customers across the world to address the most critical challenges pertaining to energy, safety, security, productivity, and global urbanization. Some key products that company offers pertaining to smart worker solutions comprise Honeywell Sotera, ConneXt Loneworker, and Personal Tracker. The success of Honeywell’s smart worker solutions depends on the enhancement of worker productivity while ensuring worker safety. Thus, the company works to deliver cutting-edge technologies for connected worker solutions. To achieve this, the company primarily focuses on innovations and investments in solutions that give employers data-driven insights into how their workers are performing their tasks and where they are located on the job site. In May 2017, the company announced the launch of Honeywell Sotera, a new, comprehensive safety software platform to support its growing portfolio of connected industrial worker solutions that are designed to help customers keep their facilities and personnel safe, boost productivity, and lower compliance and administrative costs. Further, the company also focuses on mergers and acquisitions as its key strategies to provide better worker safety solutions to its customers.
Accenture (Republic of Ireland) provides solutions and services in strategy, consulting, digital, technology, and operations. The company offers smart worker solutions through Accenture’s Industry X.0. The company is one of the forerunner organizations in the smart worker market, and it provides a well-established and stable connected worker solution. The company uses strategic alliances as a key growth strategy to increase its reach in this market. Further, the company also emphasizes on product launches and developments leveraging its R&D capabilities in the connected worker industry. In November 2017, Accenture supported Biesse Group, a leading technology specialist in material processing, to innovate and transform its business by expanding it beyond products and into digital services. This approach follows Accenture’s Industry X.0 model for industry digitization.
Related Reports:
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
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