Connected Enterprise Market
The rising demand for automation and cloud computing are the major factors driving industry expansion.
PORTLAND, PORTLAND, OR, UNITED STATE, September 15, 2023/EINPresswire.com/ — Allied Market Research published a new report, titled, ” The Connected Enterprise Market Reach to USD 3,167.62 Billion by 2030 | Top Players such as – Bosch, GE Digital and UiPath.” The report offers an extensive analysis of key growth strategies, drivers, opportunities, key segment, Porter’s Five Forces analysis, and competitive landscape. This study is a helpful source of information for market players, investors, VPs, stakeholders, and new entrants to gain thorough understanding of the industry and determine steps to be taken to gain competitive advantage.
The global connected enterprise market size was valued at USD 267.74 billion in 2020, and is projected to reach USD 3,167.62 billion by 2030, growing at a CAGR of 28.4% from 2021 to 2030.
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Surge in need of automation & cloud computing across industries, rise in use of IoT in various industries to expand connected enterprise market, and growing incorporation of digital methods for business purposes drive the global connected enterprise market. On the other hand, high cost of deployment and lack of IoT standards restrain the growth to some extent. However, evolving trends in the retail sector, increasing adoption of IoT in small & medium scale businesses and technological advancements on digital platform are expected to create lucrative opportunities in the industry.
The global connected enterprise market is segmented on the basis of offering, type, end user, and region. By offering, the market is differentiated into solutions and services. By services, it is differentiated into professional services and managed services. Depending on type, it is fragmented into manufacturing execution system, customer experience management, enterprise infrastructure management, asset performance management, remote monitoring system and others. The end user covered in the study includes Manufacturing, IT and Telecommunication, Retail and E-commerce, BFSI, Healthcare, Energy and Utility, and Others. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
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On the basis of type, the manufacturing execution system segment contributed to the lion’s share in 2020, holding more than one-fourth of the global connected enterprise market. However, the customer experience management segment is projected to manifest the fastest CAGR of 33.8% from 2021 to 2030. The other segments studied through the report include enterprise infrastructure management, asset performance management, and remote monitoring system.
On the basis of component, the solution segment held the major share in 2020, garnering around two-thirds of the global connected enterprise market. This is due to the fact that customer services solutions, monitoring solutions, and data management solutions have been highly beneficial for the market growth. The service segment, on the other hand, is expected to register the fastest CAGR of 30.6% throughout the forecast period. This is attributed to the fact that enterprise resource planning (ERP) for professional services happens to deliver improved value by modernizing the operational infrastructure.
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By region, the market across Asia-Pacific, followed by North America, dominated in 2020, garnering nearly one-third of the global connected enterprise market. Simultaneously, the same region is also expected to cite the fastest CAGR of 31.4% throughout the forecast period.
The key players operating in the connected enterprise market analysis include Accelerite, Bosch GmbH, Cisco Systems, GE Digital, Honeywell International Inc., IBM, MindTree Ltd., PTC, Rockwell Automation, Inc. and UiPath. These players have adopted various strategies to increase their market penetration and strengthen their position in the industry.
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✓ Increase in automated solutions during the pandemic have pushed businesses to migrate to a completely automated environment, which has boosted the connected enterprise industry.
✓Businesses have been pushed to a fully automated environment, which has supplemented the market growth even more.
✓This trend is most likely to continue post pandemic as well.
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Lastly, this report provides market intelligence most comprehensively. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.
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