Connected Enterprise Market Size, Share & Growth Report 2031

Connected Enterprise Market Size, Share & Growth Report 2031

Segments - Connected Enterprise Market by Services (Managed Services and Professional Services), Components (Platform, Solution, and Services), Applications (Food & Beverage, Retail, BFSI, Healthcare, IT & Telecom, Manufacturing, and Others), Platforms (Device Management, Connectivity Management, and Application Enablement & Development), Solutions (Application Value Management, Customer Experience Management, Remote Monitoring, Business Analytics, and Manufacturing Execution System), and Regions (Asia Pacific, North America, Latin America, Europe, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2023 – 2031

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Author : Raksha Sharma
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Fact-checked by : Vineet Pandey
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Editor : Shruti Bhat

Upcoming | Report ID :ICT-SE-3130 | 4.4 Rating | 68 Reviews | 199 Pages | Format : PDF Excel PPT

Report Description


Connected Enterprise Market Outlook

The Connected Enterprise Market size was USD 441.41 Billion in 2022 and is likely to reach USD 4.18 Trillion by 2031, expanding at a CAGR of 10.4% during 2023 - 2031. The growth of the market is attributed to the increasing need of cloud computing and automation across industries.

Connected enterprise is where every line of business is digitalized. This ecosystem includes connecting of key functions, such as customer service, human resource, finance, sales, manufacturing, and other business sector.

Connected Enterprise Market Outlook

The seamless connectivity provided by connected smart devices encourages the growth of the organization by enabling predictive analytics and giving deeper insights of the business. Three vital components which comprise a connected enterprise are infrastructure, device, and analytics. Connected enterprise offer a various benefits to business, such as enhanced decision making, faster process, high product utilization, and greater reliabilities.

The COVID-19 pandemic outbreak had considerable impact on the market. During the pandemic, enterprise observed human resource crunch, which is affecting the demand of connected enterprise solutions. However, the connected enterprise solutions is adopted by healthcare services and hospitals for automation and ensuring better services to the patients.

  • Increasing usage of technology like big data and Internet of things (IoT) by enterprises is one of the key factors driving the market growth.
  • Rising smart city initiative resulting in adoption of connected enterprises by energy & utility sector is projected to boost the market during the forecast period.
  • Escalating cost of deployment for connected enterprise solution acts as a major challenge that can restrict the market growth in the coming years.
  • Lack of technical expertise with technological skills is expected to hamper the market growth during the projected timeline.
  • Growing demand of system integration solutions among enterprises is anticipated to create significant growth opportunities for the market.

Scope of Connected Enterprise Market Report

The report on the global connected enterprise market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Attributes

Details

Report Title

Connected Enterprise Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast

Base Year

2022

Historic Data

2016–2021

Forecast Period

2023–2031

Segmentation

Services (Managed Services and Professional Services), Components (Platform, Solution, and Services), Applications (Food & Beverage, Retail, BFSI, Healthcare, IT & Telecom, Manufacturing, and Others), Platforms (Device Management, Connectivity Management, and Application Enablement & Development), and Solutions (Application Value Management, Customer Experience Management, Remote Monitoring, Business Analytics, and Manufacturing Execution System)

Regional Scope

Asia Pacific, North America, Latin America, Europe, and Middle East & Africa

Report Coverage

Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast

Key Players Covered in the Report

IBM Corp.; Microsoft Corp.; Rockwell Automation, Inc.; Honeywell International Inc.; and PTC, Inc.

Connected Enterprise Market Segment Insights

IoT environment drive the professional service segment

Based on services, the market is bifurcated into managed services and professional services. The professional segment is expected to grow at a rapid pace during the forecast period due to the escalating demand for operating and managing complex IoT environments. Additionally, need for reducing capital and operational expenditure and the demand for customized IoT services is driving the segment growth further.

On the other hand, the managed segment is anticipated to expand at a substantial CAGR in the coming years owing to
growing adoption of these services to reduce IT costs and to focus on core work of organization.

Solution segment is projected to expand at high growth rate

On the basis of components, the global connected enterprise market is fragmented into platform, solution, and services. The solution segment is projected to expand at high growth rate in the projected timeline attributed to these solutions help enterprises to maximize their operational efficiency by helping them achieve real-time asset monitoring. However, the platform segment is anticipated to register a substantial CAGR during the forecast period due to rising adoption of platforms for faster process.

Connected Enterprise Market Components

Greater operational efficiency increases the manufacturing segment share

In terms of applications, the market is divided into food & beverage, retail, BFSI, healthcare, IT & telecom, manufacturing, and others. The manufacturing segment is estimated to account for a significant market share during the forecast period attributed to the increased need for adopting digital and smart technologies in manufacturing sector for greater operational efficiency. On the other hand, the food & beverage segment is anticipated to grow at a high CAGR during the projected period owing to need for synchronization of production levels and customer needs.

Connectivity management segment to expand at robust growth rate

Based on platforms, the global connected enterprise market is segmented into device management, connectivity management, and application enablement & development. The connectivity management segment is estimated to expand at robust growth rate during the forecast period due to these platform have the potential to identify and remotely control the current network infrastructure in an integrated ecosystem,. Moreover, the segment growth is further accelerated as these platforms offer real-time analysis of inbound data by triggering events, including filtering, aggregation, and correlation.

Connected Enterprise Market Platforms

Increasing advancements drives the remote monitoring segment

On the basis of solutions, the market is segregated into application value management, customer experience management, remote monitoring, business analytics, and manufacturing execution system (MES). The remote monitoring segment is projected to register at high CAGR in the projected timeline attributed to the increasing advancements in connected technology resulting in need of connected sensors and equipment across manufacturing plants, which is increasing the need for real-time monitoring systems to detect and resolve issues before their acceleration.

On the other hand, the manufacturing execution system segment is anticipated to register a substantial CAGR during the forecast period due to the growth in the industrial computerization and the need to decrease the lead time for increasing output and revenue.

North America is to constitute a key market share

In terms of region, the global connected enterprise market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America is anticipated to constitute a key share of the market during the projected period owing to growing demand for connected infrastructure and increased technological spending by the key players in the region. However, the market of Middle East & Africa is anticipated to grow at a rapid pace during the forecast period due to the organizations in the region are sourcing a range of innovative digital solutions for enhancing employee engagement and business transformation.

Connected Enterprise Market Region

Segments

The global connected enterprise market has been segmented on the basis of

Services

  • Managed Services
  • Professional Services

Components

  • Platform
  • Solution
  • Services

Applications

  • Food & Beverage
  • Retail
  • BFSI
  • Healthcare
  • IT & Telecom
  • Manufacturing
  • Others

Platforms

  • Device Management
  • Connectivity Management
  • Application Enablement & Development

Solutions

  • Application Value Management
  • Customer Experience Management
  • Remote Monitoring
  • Business Analytics
  • Manufacturing Execution System

Regions

  • Asia Pacific
  • North America
  • Latin America
  • Europe
  • Middle East & Africa

Key Players

Competitive Landscape

Key players competing in the global connected enterprise market are IBM Corp.; Microsoft Corp.; Rockwell Automation, Inc.; Honeywell International Inc.; and PTC, Inc. Companies have been widely engaged in strategic partnership, merger & acquisition, new product launch, and collaborations to boost their market share and acquiring new buyers.

For instance, in October 2019 KPMG, multinational service professional network company announced partnership with Salesforce, a U.S. bases cloud-based software company to power its connected enterprise digital transformation offering. In April 2016, IBM Corp. partnered with Kimberly-Clark, a U.S. based company. By this partnership the Kimberly-Clark's professional division will adopt IBM Watson and IBM Cloud IoT platform to develop a new intelligent facilities management app.

Connected Enterprise Market Key Players

Table Of Content

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Connected Enterprise Market Overview
  4.1. Introduction
     4.1.1. Market Taxonomy
     4.1.2. Market Definition
  4.2. Macro-Economic Factors
     4.2.1. Industry Outlook
  4.3. Connected Enterprise Market Dynamics
     4.3.1. Market Drivers
     4.3.2. Market Restraints
     4.3.3. Opportunity
     4.3.4. Market Trends
  4.4. Connected Enterprise Market - Supply Chain
  4.5. Global Connected Enterprise Market Forecast
     4.5.1. Connected Enterprise Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. Connected Enterprise Market Size (000’ Units) and Y-o-Y Growth
     4.5.3. Connected Enterprise Market Absolute $ Opportunity
5. Global Connected Enterprise Market Analysis and Forecast by Applications
  5.1. Market Trends
  5.2. Introduction
     5.2.1. Basis Point Share (BPS) Analysis by Applications
     5.2.2. Y-o-Y Growth Projections by Applications
  5.3. Connected Enterprise Market Size and Volume Forecast by Applications
     5.3.1. Food & Beverage Retail BFSI Healthcare IT & Telecom Manufacturing  
  5.4. Absolute $ Opportunity Assessment by Applications
  5.5. Market Attractiveness/Growth Potential Analysis by Applications
6. Global Connected Enterprise Market Analysis and Forecast by Region
  6.1. Market Trends
  6.2. Introduction
     6.2.1. Basis Point Share (BPS) Analysis by Region
     6.2.2. Y-o-Y Growth Projections by Region
  6.3. Connected Enterprise Market Size and Volume Forecast by Region
     6.3.1. North America
     6.3.2. Latin America
     6.3.3. Europe
     6.3.4. Asia Pacific
     6.3.5. Middle East and Africa (MEA)
  6.4. Absolute $ Opportunity Assessment by Region
  6.5. Market Attractiveness/Growth Potential Analysis by Region
  6.6. Global Connected Enterprise Demand Share Forecast, 2019-2026
7. North America Connected Enterprise Market Analysis and Forecast
  7.1. Introduction
     7.1.1. Basis Point Share (BPS) Analysis by Country
     7.1.2. Y-o-Y Growth Projections by Country
  7.2. North America Connected Enterprise Market Size and Volume Forecast by Country
     7.2.1. U.S.
     7.2.2. Canada
  7.3. Absolute $ Opportunity Assessment by Country
  7.4. North America Connected Enterprise Market Size and Volume Forecast by Applications
     7.4.1. Food & Beverage Retail BFSI Healthcare IT & Telecom Manufacturing  
  7.5. Basis Point Share (BPS) Analysis by Applications
  7.6. Y-o-Y Growth Projections by Applications
  7.7. Market Attractiveness/Growth Potential Analysis
     7.7.1. By Country
     7.7.2. By Product Type
     7.7.3. By Application
  7.8. North America Connected Enterprise Demand Share Forecast, 2019-2026
8. Latin America Connected Enterprise Market Analysis and Forecast
  8.1. Introduction
     8.1.1. Basis Point Share (BPS) Analysis by Country
     8.1.2. Y-o-Y Growth Projections by Country
     8.1.3. Latin America Average Pricing Analysis
  8.2. Latin America Connected Enterprise Market Size and Volume Forecast by Country
      8.2.1. Brazil
      8.2.2. Mexico
      8.2.3. Rest of Latin America
   8.3. Absolute $ Opportunity Assessment by Country
  8.4. Latin America Connected Enterprise Market Size and Volume Forecast by Applications
     8.4.1. Food & Beverage Retail BFSI Healthcare IT & Telecom Manufacturing  
  8.5. Basis Point Share (BPS) Analysis by Applications
  8.6. Y-o-Y Growth Projections by Applications
  8.7. Market Attractiveness/Growth Potential Analysis
     8.7.1. By Country
     8.7.2. By Product Type
     8.7.3. By Application
  8.8. Latin America Connected Enterprise Demand Share Forecast, 2019-2026
9. Europe Connected Enterprise Market Analysis and Forecast
  9.1. Introduction
     9.1.1. Basis Point Share (BPS) Analysis by Country
     9.1.2. Y-o-Y Growth Projections by Country
     9.1.3. Europe Average Pricing Analysis
  9.2. Europe Connected Enterprise Market Size and Volume Forecast by Country
     9.2.1. Germany
     9.2.2. France
     9.2.3. Italy
     9.2.4. U.K.
     9.2.5. Spain
     9.2.6. Russia
     9.2.7. Rest of Europe
  9.3. Absolute $ Opportunity Assessment by Country
  9.4. Europe Connected Enterprise Market Size and Volume Forecast by Applications
     9.4.1. Food & Beverage Retail BFSI Healthcare IT & Telecom Manufacturing  
  9.5. Basis Point Share (BPS) Analysis by Applications
  9.6. Y-o-Y Growth Projections by Applications
  9.7. Market Attractiveness/Growth Potential Analysis
     9.7.1. By Country
     9.7.2. By Product Type
     9.7.3. By Application
  9.8. Europe Connected Enterprise Demand Share Forecast, 2019-2026
10. Asia Pacific Connected Enterprise Market Analysis and Forecast
  10.1. Introduction
     10.1.1. Basis Point Share (BPS) Analysis by Country
     10.1.2. Y-o-Y Growth Projections by Country
     10.1.3. Asia Pacific Average Pricing Analysis
  10.2. Asia Pacific Connected Enterprise Market Size and Volume Forecast by Country
     10.2.1. China
     10.2.2. Japan
     10.2.3. South Korea
     10.2.4. India
     10.2.5. Australia
     10.2.6. Rest of Asia Pacific (APAC)
  10.3. Absolute $ Opportunity Assessment by Country
  10.4. Asia Pacific Connected Enterprise Market Size and Volume Forecast by Applications
     10.4.1. Food & Beverage Retail BFSI Healthcare IT & Telecom Manufacturing  
  10.5. Basis Point Share (BPS) Analysis by Applications
  10.6. Y-o-Y Growth Projections by Applications
  10.7. Market Attractiveness/Growth Potential Analysis
     10.7.1. By Country
     10.7.2. By Product Type
     10.7.3. By Application
  10.8. Asia Pacific Connected Enterprise Demand Share Forecast, 2019-2026
11. Middle East & Africa Connected Enterprise Market Analysis and Forecast
  11.1. Introduction
     11.1.1. Basis Point Share (BPS) Analysis by Country
     11.1.2. Y-o-Y Growth Projections by Country
     11.1.3. Middle East & Africa Average Pricing Analysis
  11.2. Middle East & Africa Connected Enterprise Market Size and Volume Forecast by Country
     11.2.1. Saudi Arabia
     11.2.2. South Africa
     11.2.3. UAE
     11.2.4. Rest of Middle East & Africa (MEA)
  11.3. Absolute $ Opportunity Assessment by Country
  11.4. Middle East & Africa Connected Enterprise Market Size and Volume Forecast by Applications
     11.4.1. Food & Beverage Retail BFSI Healthcare IT & Telecom Manufacturing  
  11.5. Basis Point Share (BPS) Analysis by Applications
  11.6. Y-o-Y Growth Projections by Applications
  11.7. Market Attractiveness/Growth Potential Analysis
     11.7.1. By Country
     11.7.2. By Product Type
     11.7.3. By Application
  11.8. Middle East & Africa Connected Enterprise Demand Share Forecast, 2019-2026
12. Competition Landscape
  12.1. Global Connected Enterprise Market: Market Share Analysis
  12.2. Connected Enterprise Distributors and Customers
  12.3. Connected Enterprise Market: Competitive Dashboard
  12.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
     12.4.1. IBM Corp. Microsoft Corp. Rockwell Automation, Inc. Honeywell International Inc. PTC, Inc.

Methodology

Our Clients

The John Holland Group
Deloitte
Siemens Healthcare
Dassault Aviation
sinopec
Microsoft
Pfizer
Nestle SA