Connected Enterprise Market Research Report—Global Forecast till 2030

Connected Enterprise Market Research Report: Information by Component (Solutions, Services (Professional Services, Managed Services)), by Type (Manufacturing Execution System, Customer Experience Management, Enterprise Infrastructure Management, Asset Performance Management, Remote Monitoring System), by End User (Manufacturing, IT & Telecommunication, Retail & E-commerce, BFSI, Healthcare, Energy and Utility), by Region (North America, Europe, Asia-Pacific, and Rest of the World) - Forecast till 2030

ID: MRFR/ICT/9569-HCR | February 2023 | Region: Global | 120 Pages         

Connected Enterprise Market

Connected Enterprise Market is expected to grow USD 3,167.62 billion at a CAGR 28.4% during the forecast period 2022-2030
Market Size
CAGR
Dominating Region
Forecast Period
$3,167.62 billion
28.4%
North America
2022-2030
Segmentation
By Component
By Type
By End User
  • Solutions
  • Services (Professional Services
  • Managed Services
  • Manufacturing Execution System
  • Customer Experience Management
  • Enterprise Infrastructure Management
  • Asset Performance Management
  • Remote Monitoring System
  • Manufacturing
  • IT & Telecommunication
  • Retail & E-commerce
  • BFSI
  • Healthcare
  • Energy and Utility
Companies Profiled
Key Players
Accelerite
Bosch GmbH
Cisco Systems
GE Digital
Honeywell International Inc
IBM
MindTree Ltd
PTC
Rockwell Automation Inc
UiPath
Market Driving Forces
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
Request a Free Sample

Connected Enterprise Market Forecast


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.


COVID-19 Analysis


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.


Market Dynamics


Drivers



  • Growing industry demand for automation and cloud computing


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.


Market Restraints



  • Concerns regarding data privacy


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.


Segment Overview


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.


Regional Analysis


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.


Competitive Landscape


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:



Recent Developments



  • In December 2021, UiPath, a leading enterprise automation software company, and Accenture, a global professional service company, announced the business partnership to assist organizations in accelerating efforts to change their technology and develop new growth opportunities.

  • In November 2021, Rockwell Automation, a global leader in industrial automation, announced the acquisition of AVATA. With this acquisition, AVATA is expected to assist Kalypso, a Rockwell subsidiary, in meeting client demand by extending its IT/OT convergence offering. Additionally, it is anticipated that the organizations will significantly improve visibility and end-to-end supply chain management.

  • In May 2021, Honeywell, a Fortune 100 technology firm, along with SAP announced the launch of a new offering for connected buildings. This offering is expected to help property owners and managers meet sustainability goals and right-size office space as more firms adopt flexible work policies.


Report Overview


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.


Study Objectives



  • To provide a detailed analysis of the market structure and forecast for the next eight years of the various segments and sub-segments of the connected enterprises market

  • To provide insights about factors affecting the market growth

  • To analyze the connected enterprises market based on various factors- price analysis, supply chain analysis, Porter's five force analysis, etc

  • To provide historical and forecast revenues of the market segments and sub-segments with respect to four main geographies and their countries- North America, Europe, Asia-Pacific, and the Rest of the World

  • To provide country-level analysis of the market with respect to the current market size and future prospective

  • To provide country-level analysis of the market for segments by component, type, and end user

  • To provide strategic profiling of key players in the market, comprehensively analyze their core competencies, and draw a competitive market landscape

  • To track and analyze competitive developments such as joint ventures, strategic alliances, mergers & acquisitions, new product developments, and R&D in the connected enterprises market


Market Segmentation:


Global Connected Enterprises Market, By Component



  • Solutions


  • Service

    • Professional Services

    • Managed Services




Global Connected Enterprises Market, By Type



Global Connected Enterprises Market, By End User



  • Manufacturing

  • IT & Telecommunication

  • Retail & E-commerce

  • BFSI

  • Healthcare

  • Energy and Utility

  • Others


Global Connected Enterprises Market, By Region




  • North America

    • US

    • Canada




  • Europe

    • Germany

    • France

    • UK

    • Italy

    • Spain

    • Rest of Europe




  • Asia-Pacific

    • China

    • Japan

    • India

    • Australia

    • South Korea

    • Rest of Asia-Pacific




  • Rest of the World

    • Middle East

    • Africa

    • Latin America




Intended Audience



  • Connected enterprises product manufacturers and suppliers

  • Research and Development (R&D) Companies

  • Government and Independent Regulatory Authorities

  • Market Research and Consulting Service Providers

  • Academic Institutes and Universities



Report Scope:

Report Attribute/Metric Details
  Market Size   2030: ~USD 3,167.62 Billion
  CAGR   ~28.4%
  Base Year   2021
  Forecast Period   2022-2030
  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   â€˘ 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


Speak to Analyst Ask for Customization

Frequently Asked Questions (FAQ) :

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.