What is the Historical Analysis of the Connected Enterprise Market Size?
The connected enterprise market has seen considerable growth due to a variety of factors.
• In recent times, the connected enterprise market has experienced an exponential expansion. It is projected to increase from $556.4 billion in 2024 to $734.64 billion in 2025, boasting a compound annual growth rate (CAGR) of 32.0%.
Factors contributing to this substantial growth in the past include the adoption of cloud computing, improvements in edge computing, data analytics and big data, efforts toward digital transformation, and the advent of Industry 4.0 and intelligent manufacturing.
What is the Forecasted Growth of the Connected Enterprise Market Size?
The connected enterprise market is expected to maintain its strong growth trajectory in upcoming years.
• The size of the connected enterprise market is anticipated to undergo substantial expansion in the forthcoming years, predicted to reach $2228.07 billion in 2029, with a compound annual growth rate (CAGR) of 32.0%.
This surge in the projection period can be credited to the emergence of flexible and adaptive business models, increasing smart buildings and facilities, increased attention to health and safety, initiatives for energy efficiency and sustainability, and changing customer expectations. Key trends through the projection period encompass predictive maintenance for asset optimization, cross-platform integration and interoperability, edge computing for instantaneous processing, solutions for cloud-native and hybrid cloud, measures for cybersecurity and data privacy, and the use of blockchain for secure transactions.
What Are The Primary Growth Drivers In The Connected Enterprise Market?
The projected growth in the connected enterprise market is being largely driven by the expanding global adoption of 5G networks. 5G is the latest iteration of mobile networks, offering superior speed and responsiveness compared to previous generations. The enhanced bandwidth, speed, and reduced latency offered by 5G allow businesses to create an improved connected experience, enabling them to boost capabilities and further improve customer interactions. For example, IoT Analytics, a Germany-based company specializing in business intelligence for IoT, AI, Cloud, Edge, and Industry 4.0, highlighted that public 5G consisted of 95% of worldwide 5G IoT links in 2023 with figures from September 2024 showing 1.28 million of private 5G connections, accounting for 5% of all 5G IoT connections. Furthermore, it was found that 51% of companies adopting IoT were planning to boost their IoT budget in 2024, with 22% being expected to increase their budget by 10%+ compared to 2023. As such, the adoption of 5G is a key factor encouraging growth in the connected enterprise market.
What Is The Segmentation Of The Global Connected Enterprise Market?
The connected enterprise market covered in this report is segmented –
1) By Type: Manufacturing Execution System, Customer Experience Management, Enterprise Infrastructure Management, Asset Performance Management, Remote Monitoring System, Other Types
2) By Offering: Solutions, Services
3) By End-User: Manufacturing, IT and Telecommunication, Retail and E-commerce, BFSI, Healthcare, Energy and Utility, Other End-Users
Subsegments:
1) By Manufacturing Execution System (MES): Real-Time Monitoring, Production Scheduling
2) By Customer Experience Management (CEM): Customer Feedback Solutions, Omni-channel Engagement Platforms
3) By Enterprise Infrastructure Management: Network Management, Data Center Management
4) By Asset Performance Management: Predictive Maintenance, Asset Tracking Solutions
5) By Remote Monitoring System: IoT-Based Monitoring, Cloud-based Monitoring
6) By Other Types: Supply Chain Management, Workforce Management Solutions
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What Emerging Trends Are Shaping The Connected Enterprise Market Landscape?
The increasing adoption of open communication platforms is a significant trend emerging in the connected enterprise market. Key firms in this domain are concentrating on creating open platforms that enhance communication channels and ensure secured data transactions. For example, in March 2023, Wipro Limited - an Indian IT company, introduced the 5G Def-I platform. This platform stands out with unique features such as the proprietary Wipro frameworks, namely Data Discovery Platform, Multi-Domain Orchestrator, and Cloud Native NFs runtime platform. Also, it incorporates assets from a variety of communication service providers, network equipment, and software vendors. The 5G Def-I platform aims to aid businesses in smoothly adapting their infrastructure, networks, and services.
Who Are the Key Players in the Connected Enterprise Market?
Major companies operating in the connected enterprise market include:
• Cisco Systems Inc.
• PTC Inc.
• Microsoft Corporation
• Robert Bosch GmbH
• Honeywell International Inc.
• General Electric Company
• Accelerite
• Verizon Communications Inc.
• MindTree Ltd.
• UiPath
• HARMAN International
• Jacobs Engineering Group Inc.
• Wipro Limited
• Telefonaktiebolaget LM Ericsson
• Amdocs and FUJITSU
• Atos SE
• Capgemini SE
• CGI Inc.
• Cognizant Technology Solutions Corporation
• DXC Technology Company
• Hindustan Computers Pvt. Limited
• International Business Machines Corporation
• Infosys Limited
• NTT DATA Corporation
• Rockwell Automation Inc.
• Tata Consultancy Services Limited
• Tech Mahindra Limited
• Vodafone Group Plc
• SAP SE.
What are the Regional Insights into the Connected Enterprise Market?
North America was the largest region in the connected enterprise market in 2024.Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the connected enterprise market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
