Connected Enterprise Market Size

Connected Enterprise Market Size Snapshot

Note – Market size depicts the revenue generated over the financial year

In 2023, the Connected Enterprise Market is expected to reach $346 billion, and by 2032, it is expected to reach $ 2,556 billion. This remarkable growth, with a CAGR of 24.45% from 2024 to 2032, reflects the high demand for integrated technology that enhances the efficiency and interconnectedness of the various industries. The growth of this market is largely due to the increasing adoption of IoT solutions, the development of artificial intelligence, and the growing emphasis on digital transformation by companies wishing to optimize their processes and improve the customer experience. The main players in the field of connected enterprises, such as Siemens, Cisco, and GE, are investing in new technology and forming strategic alliances to enhance their offerings. For example, Siemens has focused on smart manufacturing solutions that use the IoT and artificial intelligence to create more agile and responsive production environments. Similarly, Cisco's investment in the security of connected devices shows the importance of secure connections for the development of connected enterprises. As the enterprise continues to embrace digital solutions, the connected enterprise market is expected to grow at an unprecedented rate, transforming the future of enterprise operations.

Regional Market Size

Regional Deep Dive

The connected enterprise market is growing rapidly in various regions, driven by the development of the IoT, AI and cloud computing. North America, for example, has a strong presence of the world's top IT companies and a strong digital transformation platform. Europe is experiencing a regulatory framework that is aimed at enhancing data privacy and security, and the solution is also gaining traction. In the Asia-Pacific region, the smart city and smart manufacturing are booming, and the innovation hub is quickly emerging. The Middle East and Africa are gradually embracing the IoT, driven mainly by government initiatives to diversify economies. The Latin American region has also begun to embrace the solution, but the challenge of economic instability and insufficient basic facilities remains.

North America

• The United States government has launched the National Artificial Intelligence Initiative Act, which promotes the integration of artificial intelligence into smart enterprise systems to enhance the efficiency of industry operations.
• IT giants like Cisco and IBM are promoting the development of platforms that allow for seamless connectivity and data analysis, driving innovation in industries like manufacturing and health care.
• IT solutions for connected enterprise have grown along with the remote workforce, and as companies increasingly invest in cloud-based collaboration tools to maintain productivity and interactivity, the cloud has become an increasingly important source of IT solutions for the enterprise.

Europe

• The General Data Protection Regulation (GDPR) is a major influence on the connected industry market. It forces companies to place data privacy and security at the top of their digital transformation strategies.
• IT and automation are advancing rapidly. The next big step is Industry 4.0, where IoT and AI are being used to enhance manufacturing and supply chain management.
• The Green Deal is a European investment programme for sustainable technology, aimed at developing and promoting the development of sustainable and connected solutions to optimize energy consumption and reduce the carbon footprint of various industries.

Asia-Pacific

• In the United States, the Internet of Things and the Internet of Things are the most important tools in the smart factory, and they are also the most widely used in China. China's Made in China 2025 policy has accelerated the development of smart factories, and IoT and AI are the most important tools to enhance the production capacity.
• India's Digital India program has made it possible to build an environment that is conducive to connected enterprise solutions. The technology used in agriculture and health care is being used by both small and large companies.
• In Singapore and South Korea, where the use of connected technology is a priority, there are a lot of projects underway to improve the city's living environment.

MEA

• The UAE's Vision 2021 has set out to make the country a global hub for technology and innovation, a development that has led to a significant increase in investment in connected enterprise solutions across various sectors.
• Saudi Arabia’s National Industrial Development and Logistics Program is pushing the country to adopt smart manufacturing and logistics solutions. In addition, companies such as Aramco are investing in the Internet of Things to improve their operational efficiency.
• But the region's cultural diversity and its technological development also present challenges and opportunities for connected enterprise solutions.

Latin America

• Brazil’s National IoT strategy is promoting the development of connected solutions, with government support to help improve the digital infrastructure and foster innovation in various sectors.
• The e-commerce and logistics companies Movile and Mercado Livre are leading the way, making use of the Internet of Things to improve their operations and the experience of their customers.
• Despite the economic difficulties, the mobile penetration in the region has increased, and it is the mobile penetration that is driving the growth of the connected enterprise, especially in the retail and agricultural sectors.

Did You Know?

“By 2025, it is estimated that there will be over 75 billion connected devices, which will have a profound effect on the way in which companies operate and how they relate to their customers.” — Statista

Segmental Market Size

In particular, the field of industrial automation and the integration of IoT is booming. This industry is a driving force in the transformation of traditional production and service processes into digitally connected systems that use real-time data to optimize performance. The increasing demand for process efficiency, the digitalization of industry and the growing importance of data analysis to optimize the supply chain and production processes are the main drivers.

The stage of implementation of the connected solutions varies from industry to industry. In the manufacturing and logistics industries, solutions are being deployed in large numbers. In the energy industry, for example, the use of IoT platforms is well developed. For example, GE and Siemens have launched platforms for IoT to optimize their operations. In the manufacturing industry, the most important use cases are predictive maintenance, asset tracking, and smart manufacturing. Honeywell and Bosch are presenting many new and creative use cases. In the services industry, the use of connected solutions is still in its infancy, but it is growing rapidly due to the growing remote workforce, the green agenda, and smart city initiatives. The development of edge computing, AI, and advanced data analysis is shaping this industry and enabling it to make full use of the potential of connected systems.

Future Outlook

The connected enterprise market is expected to grow at a CAGR of 24.45% from 2023 to 2032, with a market value that is expected to reach $346.03 billion in 2023 and reach $ 2,556.48 billion in 2032. The growth is due to the increasing use of IoT and advanced data analysis, and the growing use of artificial intelligence. In the future, the integration of connected systems will be essential for achieving operational efficiency and customer experience. In 2032, more than 70% of enterprises will have connected solutions and will transform their business models into agile data-driven systems.

The 5G technology, the edge-computing and cloud platforms will make it possible to integrate all these systems into a single network, to share data in real time and to act in real time. Moreover, the government policies, which favour the digital transformation and the environment, will boost the market.The emergence of smart factories, connected supply chains and remote monitoring solutions will transform the operating frameworks in the manufacturing, health and logistics sectors. The connected enterprise, which is increasingly recognized as a strategic tool, will become the central axis of future strategies, enabling innovation and competitive advantage.