|Honeywell International Inc|
|Rockwell Automation Inc|
|Market Driving Forces|
|Growing industry demand for automation and cloud computing|
|Corporate adoption of big data the cloud and mobile devices has increased dramatically|
|Decreased maintenance costs as a result of smart linked devices|
The global connected enterprises market size is projected to be worth ~USD 3,167.62 billion by 2030, registering a CAGR of ~28.4% during the forecast period (2022 - 2030)
The global Connected Enterprise Market is segmented into Component, Type, End User, and Region. Based on Component, the global connected enterprises market is segmented into Solutions and Services. Based on services, the market is further segmented into Professional Services, and Managed Services. Based on Type, the global connected enterprises market is segmented into Manufacturing Execution System, Customer Experience Management, Enterprise Infrastructure Management, Asset Performance Management, and Remote Monitoring System. Based on End User, the global connected enterprises market is segmented into Manufacturing, IT & Telecommunication, Retail & E-commerce, BFSI, Healthcare, Energy and Utility. Based on Region, the global connected enterprises market is segmented into North America, Europe, Asia-Pacific, and Rest of the World.
As a result of the COVID-19 pandemic, consumer demand has already shifted towards online shopping and purchasing, which has enabled connected businesses to avoid a severe decline in the economic outlook. However, even though the economies of the majority of countries saw a decline as a result of the pandemic, the digitization of businesses has mitigated the impact on the economy. The economic impact on linked enterprise suppliers was therefore as described above.
Healthcare has undergone a technological revolution as a result of the coronavirus pandemic. Additionally, businesses have been compelled to move to a fully automated environment due to the successful implementation of automation solutions, which is likely to increase demand for the connected enterprise sector. Additionally, the advantages of chosen automation solutions have forced firms to make the shift to a fully automated environment. In turn, during the current global health crisis, this has turned into one of the main development catalysts for the connected enterprise industry.
Industries from many sectors are adopting loT processes to survive in the era of competition. In addition to improving company processes, connected equipment and technologies can give firms insight into their actual potential for greater results. Due to the growing population, there is an urgent need to address the demand for better manufacturing infrastructure and resources to maximize the supply of industrial goods for both direct and indirect consumers. Automation enables a business to operate at peak efficiency, saving time, money, and resources while boosting overall output. Due to its flexibility, cloud computing is proving to be a catalyst for expanding loT processes across businesses. The issue of data management has been largely resolved by clouds, and the linked devices in a business are now directly permitted to store their data over clouds, enabling analytics and decision-making.
Concerns regarding the data's privacy and security are among the most sensitive issues that most businesses deal with. Because of the rules and restrictions outlined in the General Data Protection Regulation, concerns regarding the privacy of client data are always brought to the forefront. To generate new pieces of critical information without compromising the privacy or safety of their employees or customers, businesses are inventing algorithms powered by artificial intelligence (AI). In most cases, the restaurant and retail sectors are the largest hubs where customer data collection is kept at the forefront of operations at all times.
The global Connected Enterprise Market is segmented into Component, Type, and End User.
Based on Component, the global connected enterprises market is segmented into Solutions and Services. Based on services, the market is further segmented into Professional Services, and Managed Services.
Based on Type, the global connected enterprises market is segmented into Manufacturing Execution System, Customer Experience Management, Enterprise Infrastructure Management, Asset Performance Management, and Remote Monitoring System.
Based on End User, the global connected enterprises market is segmented into Manufacturing, IT & Telecommunication, Retail & E-commerce, BFSI, Healthcare, Energy and Utility.
The connected enterprises market based on the region has been segmented into North America, Europe, Asia-Pacific, and the Rest of the World.
North America is anticipated to experience significant expansion over the forecast period. Industry growth is being fueled by rising technological investment and the demand for connected infrastructure. Furthermore, industry growth is anticipated to benefit from the rising importance of automation and the demand for greater flexibility and functionality. Additionally, internet-enabled products and solutions have been used by the regional telecom and healthcare sectors to improve their consumer experiences.
The key industry players are adopting various business strategies such as significant investments in R&D activities to increase their market presence and to expand their product portfolio thereby, driving the connected enterprises market. In addition, the market players are adopting several strategic initiatives such as new product launches, mergers & acquisitions, contractual agreements, increasing investments, and collaboration with other players to expand their global footprint. For instance, in October 2021, Microsoft India, a division of Microsoft Corporation, and Tata Motors, a multinational Indian automaker, recently established a strategic alliance to provide connected and personalized driving experiences to Indian consumers.
List of companies covered in this report:
The study covers the existing short-term and long-term market effects. It helps decision-makers to draught short-term and long-term business plans by region. The report covers major regions in North America, Europe, Asia-Pacific, and the Rest of the World. The report analyzes market drivers, restraints, opportunities, challenges, Porter's five forces, value chain, and impact of COVID-19 on the market.
Global Connected Enterprises Market, By Component
Global Connected Enterprises Market, By Type
Global Connected Enterprises Market, By End User
Global Connected Enterprises Market, By Region
|Market Size||2030: ~USD 3,167.62 Billion|
|Historical Data||2018, 2019 & 2020|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Offering, Type, and End User|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World|
|Key Vendors||Accelerite, Bosch GmbH, Cisco Systems, GE Digital, Honeywell International Inc., IBM, MindTree Ltd., PTC, Rockwell Automation, Inc., UiPath|
|Key Market Opportunities||Rise in smart city programs|
|Key Market Drivers||• Growing industry demand for automation and cloud computing • Corporate adoption of big data, the cloud, and mobile devices has increased dramatically • Decreased maintenance costs as a result of smart, linked devices|
The global Connected enterprise market will be valued at USD 3,167.62 billion by 2030. The global market is estimated to witness substantial growth during the forecast period (2022-2030).
The key contenders in the market are Accelerite, Bosch GmbH, Cisco Systems, GE Digital, Honeywell International Inc., IBM, MindTree Ltd., PTC, Rockwell Automation, Inc., and UiPath.
The North America regional market is projected to be the major driver of the market.