MRFR Press Release/Market Research Future has published a Half- Cooked Research Report on the Global Connected Enterprise Market.
According to MRFR analysis, the global connected enterprise market is expected to register a CAGR of 28.40% from 2023 to 2032 and hold a value of over USD 2556.48 billion by 2032.
The growth of technology developments like big data, analytics, and cloud computing is encouraging investments in this sector. Connected enterprise solutions are increasing the possibilities for extensive product utilisation, new features, enhanced functionality, and superior reliability that go beyond the constraints of conventional products. The nature of products and services is changing, which alters value chain activities and makes R&D investments possible to produce better products. Connected technology is evolving more swiftly and creating new possibilities as millions of devices connect. Businesses in the retail, healthcare, and other sectors are embracing IoT technologies quickly to transform their operational processes. Digital solutions are embracing data exchange, automation, and smart manufacturing technologies as they upend the industrial sector.
North America is expected to expand significantly during the forecast period. Rising technological investment and the need for connected infrastructure are driving industry growth. Additionally, it is projected that the growing significance of automation and the demand for increased functionality and flexibility will boost industry growth. The regional telecom and healthcare industries have also employed internet-enabled goods and services to enhance their customer experiences.
Due to the presence of infrastructure for manufacturing, retail, and industrial automation, the Middle East is expected to grow significantly. The need for these solutions is expected to increase as firms in the area source a variety of cutting-edge digital solutions for business transformation and increasing employee engagement. The region is extending its activities beyond the traditional oil and gas industry, which is enticing more investors to pour money into cutting-edge technologies.
The global connected enterprises market has been segmented into offering, type, and end user.
Based on offering, the global connected enterprise market is semented into solutions and services. Again services are segmented into professional services, and managed services. The solution category is expected to grow significantly. Demand for solutions is driven by the need to improve the customer experience and handle large amounts of data. These technologies let firms achieve real-time asset monitoring, which boosts operational efficiency. Using 4G LTE and battery-powered sensors to monitor shipping containers for temperature fluctuations can affect product quality. Participants in the sector who take a holistic approach should benefit from this area.
Based on type, the market is segmented into manufacturing execution system, customer experience management, enterprise infrastructure management, asset performance management, remote monitoring system. Over the forecast period, remote monitoring systems are expected to dominate the market. Recent advances in connected technology allow manufacturers to connect sensors and other equipment. Real-time monitoring systems can detect and fix problems before they escalate. The manufacturing execution system should dominate. It's crucial to manufacturing because it links corporate and plant-floor systems. The MES market should profit from industrial automation and longer lead times.
Based on end user, the global market is segmented into manufacturing, IT & telecommunication, retail & e-commerce, bfsi, healthcare, energy and utility. Over the forecast period, the manufacturing segment is anticipated to hold the largest market share. The increased need for smart and digital technology is to blame for this. Asset optimization, automated industrial processes, and operating efficiencies are three of these technologies' main benefits. The significant investments manufacturing companies have made in analytics and sensor technology is now poised to pay off.
Some of the key market players are Accelerite, Bosch GmbH, Cisco Systems, GE Digital, Honeywell International Inc., IBM, MindTree Ltd., PTC, Rockwell Automation, Inc., UiPath.