USD 335.35 billion
Global Connected Enterprise Market Size, Share, Growth Analysis, By Offering(Solutions, Services), By End user(Manufacturing, IT & Telecommunication) - Industry Forecast 2024-2031
Report ID:
SQMIG45J2165 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|
Tables:
68 |
Figures:
80
Global Connected Enterprise Market Insights
Global Connected Enterprise Market size was valued at USD 335.35 billion in 2022 and is poised to grow from USD 428.91 billion in 2023 to USD 3071.38 billion by 2031, growing at a CAGR of 27.90% in the forecast period (2024-2031).
The growing expansion rate of the global connected enterprise market in recent years is a combined result of increasing demand for smooth connectivity and development of novel technologies across several industries.
This market utilizes the adoption of Internet of Things (IoT) devices, cloud computing, data analytics, AI, and automation to build an interconnected infrastructure that can result in better decision-making, productivity, and operational efficiency. Industries such as manufacturing, healthcare, energy, and transportation have used connected corporate solutions to speed up operations, cut costs, and open up new revenue avenues.
Take for example how the manufacturing industry has made use of real-time data analytics and Internet of Things (IoT) sensors to raise production yields, reduce downtime, and enable predictive maintenance. The healthcare sector has also used these connected gadgets to enhance patient monitoring, expedite medical procedures, and facilitate telemedicine services.
With the widespread adoption of 5G technology that offers speedy and low-latency communication, the connected enterprise market has expanded further due to its demand in fields that use mission-critical applications and real-time data sharing. Still, the market also faces several issues like privacy, interoperability, and data security that can hamper its current growth rate.
Companies are putting a greater emphasis on implementing standardized communication protocols and strong cybersecurity measures to ensure smooth and secure data flow. Machine learning and AI play a crucial role in the developing market to procure valuable insights from the large volumes of data provided by networked devices. This trend promotes increased efficiency and innovation across industries by enabling the automation of complicated operations, predictive analytics, and better decision-making.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
solutions
Fastest Growth
Managed Services
Growth Rate
27.90% CAGR
Global Connected Enterprise Market ($ Bn)
Country Share for North America Region (%)
Global Connected Enterprise Market Size By Offering ($ Bn)
Global Connected Enterprise Market Size By Offering (%)
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Global Connected Enterprise Market Segmental Analysis
When segmenting the market on the basis of offering, the market is split into Solutions, Services, Professional Services, and Managed Services. The market can be split into the following categories based on product: into Manufacturing Execution System, Customer Experience Management, Enterprise Infrastructure Management, Asset Performance Management, Remote Monitoring System, and Others. Market segmentation on the basis of end-users will result in the following categories: Manufacturing, IT & Telecommunication, Retail & E-commerce, BFSI, Healthcare, Energy and Utility, Others. Regionally, the market is divided into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Analysis By Offering
The leading segment in the global connected enterprise market, which includes a range of offerings like services and solutions, is usually the solutions segment. This is due to the fact that solutions frequently make up the fundamental architecture and technology that let companies build data analytics platforms, IoT (Internet of Things) networks, connected systems, and more.
The managed services category has earned its name as the fastest growing segment in the global connected enterprise market. These services include the process of contracting particular areas of a company’s technological infrastructure or operations externally. Many businesses are opting for managed services in order to ensure smooth functioning, increased security, and the upkeep of their linked networks due to the increasing complications in the interconnected systems field and the need to maximize the performance of said systems.
Analysis By End user
The end-user segment that has held the largest share of the global connected enterprise market is the manufacturing sector. This sector has actively deployed connected technologies in their operations to improve production procedures, supply chain management, and overall operational effectiveness
On the other hand, the quickest-developing market segment is the healthcare industry which has quickly embraced connected corporate solutions. Several operations in the industry, such as resource management, treatment outcomes, and patient care can be transformed with the use of data analytics, IoT devices, and telemedicine technologies.
Global Connected Enterprise Market Size By Offering, 2023 (%)
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Global Connected Enterprise Market Regional Insights
Traditionally, the global connected enterprise market has been led by North America, particularly the US. This region’s supremacy in the market can be attributed to its advanced technological platform, a healthy culture of innovation, greater presence of tech giants, growing emphasis on digital transformation, and the deployment of IoT devices.
However, the Asia-Pacific region, especially countries like China, Japan, South Korea, and India, is coming up as the fastest growing segment of this particular market. The market expansion in the APAC region is driven by a number of factors, including growing middle class population, widespread adoption of smart technologies across various industries, and rising urbanization. The region’s manufacturing and industrial sectors have been taking advantage of this technology to increase productivity and efficiency.
Global Connected Enterprise Market By Region, 2024-2031
- Largest
- Fastest
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Global Connected Enterprise Market Dynamics
Drivers
Digital Transformation Initiatives:
- Companies around the globe are working on bringing digital transformation to their operations and products to remain a viable competitor and maintain efficiency. Connected corporate solutions that integrate automation, data analytics, and Internet of Things devices have driven the possibility of his development. These technologies offer companies assistance in better decision making, streamlining of operations, and conducting better client interactions.
IoT and Industry 4.0 Adoption:
- The introduction and integration of IoT and Industry 4.0 principles have driven the expansion of the connected enterprise market. Many companies spread across different sectors used IoT technology to construct networked systems, track assets, monitor operations in real time, and collect data for predictive analytics. This incorporation resulted in better resource allocation, decreased downtime, and increased production.
Restraints
Data Security and Privacy Concerns:
- As a result of the growing connections and exchange of data between connected enterprises posed challenges in the form of data security and privacy problems. The higher the number of gadgets and systems connected in communication, the higher the risk of cyber dangers. Major investments in strong cybersecurity procedures are a vital function companies must adhere to in order to secure sensitive data and prevent breaches.
Complexity and Integration Challenges:
- The integration of different technologies, systems, and devices required to implement a connected enterprise can be complex and challenging. There is a probability of compatibility problems arising in the process of integrating legacy systems with contemporary IoT technologies. This particular challenge can stunt market growth and adoption rates as it calls for major resource commitments and large waiting times.
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Global Connected Enterprise Market Competitive Landscape
The competitive environment of the global connected enterprise market is defined by the intense competition key players of the market are engaged in as they strive for market dominance. Industry leaders such as IBM, Microsoft, Siemens AG, and Cisco Systems have retained their position by offering all-inclusive solutions which use IoT, AI, cloud computing, and data analytics. In order to innovate and improve their product portfolios and guarantee smooth connectivity, security, and scalability for enterprises, these organizations heavily engage in research and development. Specialized offerings for particular industries are the focus of niche players such as PTC Inc., Schneider Electric, and Rockwell Automation. These companies encourage innovation in digital transformation and industrial automation. The competitive environment in the industry is also influenced by alliances, joint ventures, and calculated acquisitions made by firms looking to improve their skills and increase their market share. Competition is expected to heat up as demand for connected technologies soars across industries, forcing businesses to stand out with cutting-edge technology, bespoke solutions, and client-focused offerings.
Top Player’s Company Profiles
- IBM (USA)
- Cisco Systems (USA)
- Microsoft Corporation (USA)
- SAP SE (Germany)
- Oracle Corporation (USA)
- Siemens AG (Germany)
- General Electric (USA)
- Schneider Electric (France)
- Honeywell International Inc. (USA)
- Rockwell Automation (USA)
- ABB Group (Switzerland)
- Accenture plc (Ireland)
- Deloitte (UK)
- PTC Inc. (USA)
- Amazon Web Services (AWS) (USA)
- Ericsson (Sweden)
- Bosch Software Innovations GmbH (Germany)
- Hitachi Vantara (Japan)
- HP Enterprise (USA)
- Fujitsu Limited (Japan)
- Capgemini (France)
- Verizon Communications Inc. (USA)
- Tata Consultancy Services (India)
- Nokia Corporation (Finland)
- Infosys (India)
Recent Developments
- In June 2022, Schneider Electric, a French multinational company that specializes in digital automation and energy management, opened a Smart Factory in the United States to showcase its EcoStruxure architecture and accompanying range of products that can help their clients cut costs and boost operational efficiency.
- In October 2022, A collaborative agreement between Cognite, a Norwegian SAS company that provides software and industrial IoT services, and Rockwell Automation, Inc., an American provider of industrial automation and digital transformation technologies, was announced. Their goal? Maximizing the value of production data and advancing industry technology.
- In November 2022, Microsoft introduced Azure Connected Factory, a suite of cloud-based technologies that can help manufacturers that can connect, analyze, and act upon data from their connected devices.
Global Connected Enterprise Key Market Trends
- IoT Integration and Adoption: A notable trend in the global connected enterprise market is the implementation of the Internet of Things (IoT). Thanks to IoT technologies, businesses can now collect and analyze data in real time by forming a network of devices, sensors, and equipment. As a result of this connectedness, companies increased overall productivity, made data-driven decisions, and enhanced operations. For the smooth execution of smart manufacturing, predictive maintenance, asset tracking, and supply chain management, networked enterprises used IoT.
- Focus on Data Security and Privacy: As firms form further interconnections, data security and privacy have become even more vital. The use of connected enterprise networks meant that data was constantly collected, transferred, and stored which in turn raised concerns about illegal access, data breaches, and cyber dangers. To protect confidential data and guarantee adherence to data protection laws such as the General Data Protection Regulation (GDPR) in Europe, businesses have to make significant investments in strong cybersecurity solutions.
Global Connected Enterprise Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Component types team that Collects, Collates, Correlates, and Analyzes the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our Global Connected Enterprise Market analysis, the market is all about integrating different technologies to form a networked ecosystem that improves communication between industries, data-driven decision-making, and operational efficiency. Artificial intelligence, cloud computing, big data analytics, and the Internet of Things (IoT) are driving this market's growth. Companies are implementing linked solutions to maximize resource use, monitor assets, and expedite procedures. This trend is especially helpful to the manufacturing, healthcare, transportation, and energy sectors since IoT-enabled sensors and equipment allow for automation, real-time tracking, and predictive maintenance. Cloud-based platforms provide data analysis, accessibility, and storage, resulting in well-informed plans. Furthermore, the growth of the market is bolstered by the widespread use of smart devices and rising internet penetration. Personalized experiences and targeted marketing are made possible by the capacity to collect enormous volumes of data from linked devices. But along with this expansion come difficulties like privacy issues and data security. It's critical to maintain strong cybersecurity defenses and follow data protection laws.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 335.35 billion |
| Market size value in 2031 | USD 3071.38 billion |
| Growth Rate | 27.90% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Global Connected Enterprise Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Global Connected Enterprise Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Global Connected Enterprise Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Connected Enterprise Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Connected Enterprise Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global Connected Enterprise Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Global Connected Enterprise Market Report Snapshots
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