Market Overview
The connected enterprise market is a rapidly growing market that is being driven by the increasing adoption of IoT, cloud computing, and big data analytics. Connected enterprises are those that use digital technologies to connect their people, processes, and assets. This allows them to improve efficiency, productivity, and decision-making.
The global connected enterprise market is expected to reach USD 2556.48 billion by 2032, growing at a CAGR of 28.40% from 2023 to 2032. The market is being driven by the increasing demand for automation and cloud computing, the rising need for real-time data insights, and the growing adoption of IoT in various industries.
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Market Growth Drivers
The following are some of the key drivers of the connected enterprise market:
- Increasing demand for automation and cloud computing: Businesses are increasingly adopting automation and cloud computing to improve efficiency and reduce costs. This is driving the demand for connected enterprise solutions that can integrate these technologies.
- Rising need for real-time data insights: Businesses need real-time data insights to make better decisions and improve operations. Connected enterprise solutions can help businesses collect and analyze data from various sources in real time.
- Growing adoption of IoT in various industries: IoT is being adopted in various industries, such as manufacturing, healthcare, and transportation. This is driving the demand for connected enterprise solutions that can connect and manage IoT devices.
- Government initiatives: Governments around the world are promoting the adoption of connected enterprise solutions. This is helping to drive the growth of the market.
Connected Enterprise Market Segmentation
The connected enterprise market is segmented on the basis of offering, type, end user, and region.
- By offering: The market is segmented into solutions and services. The solutions segment is further segmented into hardware, software, and integration services. The services segment is further segmented into professional services and managed services.
- By type: The market is segmented into asset tracking, predictive maintenance, remote monitoring, and other types.
- By end user: The market is segmented into manufacturing, healthcare, transportation, energy, and other end users.
- By region: The market is segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America.
Key Companies
Some of the key players in the connected enterprise market include:
- IBM
- Cisco
- Microsoft
- SAP
- Oracle
- PTC
- GE
- Honeywell
- ABB
- Siemens
- Dassault Systèmes
Regional Insights
The North American region is the largest market for connected enterprise solutions, followed by Europe and Asia Pacific. The growth of the market in these regions is being driven by the increasing adoption of IoT, cloud computing, and big data analytics.
The Asia Pacific region is expected to grow at the fastest CAGR during the forecast period. This is due to the growing adoption of connected enterprise solutions in emerging economies, such as China and India.
Industry Latest News
- In June 2023, IBM announced a new cloud-based platform for connected enterprises. The platform is designed to help enterprises connect their devices, data, and applications in order to improve efficiency, productivity, and decision-making.
- In May 2023, Cisco announced a new partnership with Microsoft to help enterprises build connected solutions. The partnership will combine Cisco’s IoT expertise with Microsoft’s cloud computing platform to help enterprises build scalable and secure connected solutions.
- In April 2023, SAP announced a new suite of connected enterprise solutions. The solutions are designed to help enterprises connect their people, processes, and assets in order to improve efficiency, productivity, and decision-making.
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