Market Overview

The connected enterprise market is a rapidly growing market that is being driven by the increasing adoption of IoT, cloud computing, and big data analytics. Connected enterprises are those that use digital technologies to connect their people, assets, and processes in order to improve efficiency, productivity, and customer service.

The global connected enterprise market is expected to reach USD 2556.48 billion by 2032, growing at a CAGR of 30.12% from 2023 to 2032. The growth of the market is being driven by a number of factors, including:

• The increasing adoption of IoT: IoT is the interconnection of physical devices, vehicles, buildings, and other objects with the internet. This allows these devices to collect and exchange data, which can be used to improve operations and decision-making.
• The growth of cloud computing: Cloud computing is the delivery of computing services—including servers, storage, databases, networking, software, analytics, and intelligence—over the internet (“the cloud”). This allows businesses to access these services on demand, which can help them to reduce costs and improve agility.
• The rise of big data analytics: Big data analytics is the process of extracting insights from large datasets. This can be used to improve decision-making, identify trends, and optimize operations.

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Key Companies

Some of the key players in the connected enterprise market include:

• IBM
• Cisco Systems
• Microsoft
• SAP
• Oracle
• PTC
• General Electric
• Honeywell
• ABB
• Siemens
• Robert Bosch

These companies are developing and providing a wide range of solutions and services for the connected enterprise market, including:

• IoT platforms
• Cloud computing platforms
• Big data analytics platforms
• Security solutions
• Managed services

Market Segmentation

The connected enterprise market is segmented by offering, type, end-user, and region.

• By offering, the market is segmented into solutions and services. Solutions include IoT platforms, cloud computing platforms, big data analytics platforms, and security solutions. Services include managed services and professional services.
• By type, the market is segmented into manufacturing execution systems, customer experience management, enterprise infrastructure management, asset performance management, remote monitoring systems, and others.
• By end-user, the market is segmented into manufacturing, IT and telecommunications, retail and e-commerce, BFSI, healthcare, energy and utilities, and others.
• By region, the market is segmented into North America, Europe, Asia-Pacific, Latin America, and Middle East and Africa.

Top Impacting Factors

The following are some of the top impacting factors of the connected enterprise market:

• Increasing demand for automation and cloud computing
• Technological advancements such as big data, cloud, and mobile devices
• Rising security concerns
• Decreased maintenance costs due to smart connected devices
• Growing need for real-time data analytics
• Increasing government regulations

Regional Insights

The Asia-Pacific region is expected to be the fastest-growing market for connected enterprises. This is due to the rapid growth of the IoT market in the region, as well as the increasing adoption of cloud computing and big data analytics.

North America is another major market for connected enterprises. This is due to the early adoption of new technologies in the region, as well as the presence of a large number of large enterprises.

Europe is also a major market for connected enterprises. This is due to the strong demand for automation and cloud computing in the region.

Industry Latest News

• In January 2023, IBM announced the acquisition of Instana, a provider of cloud-native application performance management solutions. This acquisition will help IBM to expand its offerings for connected enterprises.
• In February 2023, Cisco Systems announced the launch of its Industrial Internet of Things (IIoT) platform. This platform is designed to help businesses connect and manage their industrial assets.
• In March 2023, Microsoft announced the launch of its Azure IoT Suite. This suite of solutions is designed to help businesses build, deploy, and manage IoT applications.

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