Overview and Scope
Connected Enterprise refer to an ecosystem in which every business line has been digitalized and connected that are used to gain more insights and improve the productivity of their business by harmonising technological operations and a deeper level of collaboration to enhance productivity and business outcomes.
Sizing and Forecast
The connected enterprise market size has grown exponentially in recent years. It will grow from $425.54 billion in 2023 to $566.88 billion in 2024 at a compound annual growth rate (CAGR) of 33.2%. The growth in the historic period can be attributed to cloud computing adoption, advancements in edge computing, data analytics and big data, digital transformation initiatives, industry 4.0 and smart manufacturing.
The connected enterprise market size is expected to see exponential growth in the next few years. It will grow to $1689.81 billion in 2028 at a compound annual growth rate (CAGR) of 31.4%. The growth in the forecast period can be attributed to agile and adaptive business models, rise of smart buildings and facilities, enhanced focus on health and safety, energy efficiency and sustainability initiatives, evolving customer expectations.. Major trends in the forecast period include predictive maintenance for asset optimization, cross-platform integration and interoperability, edge computing for real-time processing, cloud-native and hybrid cloud solutions, cybersecurity and data privacy measures, blockchain for secure transactions.
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Segmentation & Regional Insights
The connected enterprise market covered in this report is segmented –
1) By Type: Manufacturing Execution System, Customer Experience Management, Enterprise Infrastructure Management, Asset Performance Management, Remote Monitoring System, Other Types
2) By Offering: Solutions, Services
3) By End-User: Manufacturing, IT and Telecommunication, Retail and E-commerce, BFSI, Healthcare, Energy and Utility, Other End-Users
North America was the largest region in the connected enterprise market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the connected enterprise market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
The increasing adoption of 5G networks across the world is expected to propel the growth of the connected enterprise market going forward. 5G is the 5th generation mobile network for the higher speed and responsiveness of wireless networks. With 5G network speed, bandwidth, and lower latency, enterprises can have a better-connected experience and offer customers and associates expanded capabilities and continue to enhance the customer experience. For instance, according to the GSM Association, a UK-based industry organisation that represents the interests of mobile network operators worldwide, in North America, about 13% of connections were 5G in 2021 and will hit 63% by 2025. Therefore, increasing the adoption of 5G networks drives the connected enterprise market growth.
Key Industry Players
Major companies operating in the connected enterprise market report are Cisco Systems Inc., PTC Inc., Microsoft Corporation, Robert Bosch GmbH, Honeywell International Inc., General Electric Company, Accelerite, Verizon Communications Inc., MindTree Ltd., UiPath, HARMAN International, Jacobs Engineering Group Inc., Wipro Limited, Telefonaktiebolaget LM Ericsson, Amdocs and FUJITSU, Atos SE, Capgemini SE, CGI Inc., Cognizant Technology Solutions Corporation, DXC Technology Company, Hindustan Computers Pvt. Limited, International Business Machines Corporation, Infosys Limited, NTT DATA Corporation, Rockwell Automation Inc., Tata Consultancy Services Limited, TDK Corporation, Tech Mahindra Limited, Vodafone Group Plc, SAP SE.
The connected enterprise market report table of contents includes:
1. Executive Summary
2. Connected Enterprise Market Characteristics
3. Connected Enterprise Market Trends And Strategies
4. Connected Enterprise Market – Macro Economic Scenario
5. Global Connected Enterprise Market Size and Growth
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26. South America Connected Enterprise Market
27. Brazil Connected Enterprise Market
28. Middle East Connected Enterprise Market
29. Africa Connected Enterprise Market
30. Connected Enterprise Market Competitive Landscape And Company Profiles
Top Major Players:
- Cisco Systems Inc
- PTC Inc
- Microsoft Corporation
- Robert Bosch GmbH
- Honeywell International Inc
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