Connected Enterprise Market Size, Business Prospect to 2027

Global Connected Enterprise Market Size, Share & Industry Trends Analysis Report By Component (Solution and Services), By End User, By Type, By Regional Outlook and Forecast, 2021 - 2027

Published Date: March-2022 | Number of Pages: 361 | Format: PDF | Report ID: KBV-16825

Special Offering: Industry Insights | Market Trends | Highest number of Tables | 24/7 Analyst Support


COVID-19

Get in-depth analysis of the COVID-19 impact on the Connected Enterprise Market

Market Report Description

The Global Connected Enterprise Market size is expected to reach $1.4 Trillion by 2027, rising at a market growth of 27.9% CAGR during the forecast period.

The connected enterprise is a monitor’s equipment, that links the company’s critical hubs, to authorize deep insight and predictive analytics in real-time. It makes operations faster and attracts customers by providing more advanced services. Moreover, it helps to gain an advantage in business as compared to other competitors.

Smart city programs have grown in popularity urging the energy & utility business to embrace connected enterprise devices. Most of the regions are embracing developing technologies of smart meters, which would further fuel the growth of the market. Developing economies offer remarkable chances to showcase their connected enterprise offering to expand the business. Growth in initiatives and developments towards digital technologies can drift the growth opportunities.

AI has been a part of the most crucial discussion incorporated over the past 5 years. Although, it’s a challenge to normalize AI insight across large numbers of employees. With the emergence of AI-powered BI products, silos data will be insecure and every user would be able to authorize insights and data analytics easily. Restaurant to healthcare business organizations are building a cloud for better scalability and agility.

Additionally, more data and analytics will be stored in the cloud, which is attracting more organizations towards its adoption. The focus would shift from dashboards and analytical reports to analyzing the behavior of customer changes in real-time for actionable insights. In 2020, there is an increase in the demand for audiovisual mediums such as live video classrooms, OTT streaming of movies, virtual business conferences, and on-demand channel content.

Connected Enterprise Market Size - Global Opportunities and Trends Analysis Report 2017-2027

COVID-19 Impact Analysis

The COVID-19 pandemic has impacted the whole enterprise sector. It has created a whole new ecosystem for the companies, people, and government. Many enterprises have shifted to the digital platform, expanding their suite and creating new service borders, forcing an organization to revisits their digital strategies to conquer new opportunities. Additionally, to protect people from the COVID-19 has created new offerings in IoT, such as automation, spatial computing, Telemedicine wearables, UAVs, and Digital Twins.

The widespread of the virus escorted technological uprising in the healthcare sector. Implementation of the automation solutions, good outcomes have fueled the business to migrate completely towards an automated ecosystem. It would prompt individuals to interact with their data in a contactless manner without taking help from anyone. It has become one of the major factors in the growth of the connected enterprise market during the health crisis. An enterprise adopting the responsive and digital platform can be able to survive during the COVID-19 pandemic.

Market Growth Factors:

Businesses increasingly relying on digital methods

Automations flexibility and cloud computing helps enterprises to operate at saving time, peak efficiency, money, and energy to enhance overall productions. Moreover, clouds have solved the issues of data management, allowing devices to connect with organizations store data directly in the cloud for decision-making and analytics purposes. Affordable costs of the clouds system enterprise are handling budgets and operations with greater fluency in cloud operations. It allows businesses to look after from a comprehensive point of view for end-to-end enterprise operations.

Technological advancements on digital platform

Artificial intelligence (AI) and machine learning have been growing momentum in the digital computer world. The up-gradation in technology such as the merging of artificial intelligence and machine learning is assumed to boost the growth of the market. The introduction of the 5G connectivity would provide better digital performance for the business. Additionally, this remarkable forward step would help to develop the Internet of Things, since 5G networks are capable to handle linked smart devices.

Marketing Restraining Factor:

Concerns Regarding Data Privacy

Privacy and security concern of data is some of the sensitive issue faced by most enterprises. With the General Data Protection Regulation rule and regulations, customer data privacy issues are always kept forefront. Companies are developing AI-fueled algorithms to form new bits of sensitive information, without affecting employees and consumer privacy and security. The restaurant and retail sector commonly are the biggest hub where consumer data collection is always kept at the forefront.

Connected Enterprise Market Share and Industry Analysis Report 2020

Component Outlook

Based on Component, the Connected Enterprise Market is segmented into Solutions and Services. The solution segment generated the highest revenue share in the Connected Enterprise Market in 2020. A large number of data files and the capability to enhance customer experience are boosting the demand for various solutions. This solution provides real-time monitor assistance to maximize operational efficiency. The demand for the IoT in the industry has enlarged the demand for application and infrastructure management services.

End User Outlook

Based on End Users, the Connected Enterprise Market is segmented into Manufacturing, IT & Telecommunication, Retail & E-commerce, BFSI, Healthcare, Energy and Utility, and Others. IT & Telecom segment registered a promising revenue share in the connected enterprise market in 2020. With the increasing complexities in the telecom services infrastructure, IoT helps to update IT operations, architectures, and policies processes to rebuild efficiency. It also helps to cut down the cost of operation as well as provides privacy, asset management, real-time analytics, and data security to the IoT and telecom sectors.

Type Outlook

Based on Type, the Connected Enterprise Market is segmented into Manufacturing Execution System, Customer Experience Management, Enterprise Infrastructure Management, Asset Performance Management, Remote Monitoring System, and Others. The Remote Monitoring segment witnessed a significant revenue share in the Connected Enterprise Market in 2020. Advance connected technologies offering opens up opportunities to connect equipment and sensors across manufacturing plants. The necessity of a real-time monitoring system to resolve and identify issues would surge the growth of this segment.

Connected Enterprise Market Report Coverage
Report Attribute Details
Market size value in 2020 USD 255.4 Billion
Market size forecast in 2027 USD 1384.5 Billion
Base Year 2020
Historical Period 2017 to 2019
Forecast Period 2021 to 2027
Revenue Growth Rate CAGR of 27.9% from 2021 to 2027
Number of Pages 261
Number of Tables 413
Report coverage Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Competitive Landscape, Companies Strategic Developments, Company Profiling
Segments covered Component, Type, End User, Region
Country scope US, Canada, Mexico, Germany, UK, France, Russia, Spain, Italy, China, Japan, India, South Korea, Singapore, Malaysia, Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria
Growth Drivers
  • Businesses increasingly relying on digital methods
  • Technological advancements on digital platform
Restraints
  • Concerns Regarding Data Privacy

Regional Outlook

Based on region, the Connected Enterprise Market is analyzed into North America, Europe, Asia Pacific, and LAMEA. North America dominated the connected enterprise market with the largest revenue share in 2020. Technological in the countries such as Canada and USA have increased the penetration of IoT. However, telecom and healthcare sectors in these regions have adopted IoT and devices to enhance customers' experience and interface. An increase in the functionality and flexibility of automation is expected to have a positive impact on the growth of the industry.

Free Valuable Insights: Global Connected Enterprise Market size to reach USD 1384.5 Billion by 2027

KBV Cardinal Matrix - Connected Enterprise Market Competition Analysis

Connected Enterprise Market - Competitive Landscape and Trends by Forecast 2027

The major strategies followed by the market participants are Partnerships. Based on the Analysis presented in the Cardinal matrix; Microsoft Corporation is the forerunners in the Connected Enterprise Market. Companies such as Verizon Communications, Inc., Cisco Systems, Inc. and Honeywell International, Inc. are some of the key innovators in the Market.

The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Rockwell Automation, Inc., Cisco Systems, Inc., Microsoft Corporation, IBM Corporation, Robert Bosch GmbH, Honeywell International, Inc., UiPath, Inc., Verizon Communications, Inc., General Electric (GE) Co., and Wipro Limited.

Recent Strategy Deployed in Connected Enterprise Market

» Partnerships, Collaborations and Agreements:

  • Dec-2021: UiPath extended its collaboration with Accenture, Ireland based multinational services company. Under this collaboration, the companies focused on providing new growth opportunities, accelerating technology transformation efforts, and enterprise-wide automation to accelerate clients' business. In addition, the companies would help clients in an increase of productivity and reinvention in business s to be more efficient and adaptable to change.
  • Nov-2021: Microsoft partnered with Kyndryl, a spin-off company from IBM. The companies aimed to integrate their service of enterprise customers' expertise. Moreover, the companies would deploy state-of-the-art solutions on Microsoft Cloud intending to expedite the adoption of hybrid cloud, support mission-critical workloads, modernize applications and processes, and allow modern work experiences for clients.
  • Oct-2021: Rockwell Automation joined hand with Enterprise Laboratory, a venture studio that ideates, invests, and operates enterprise startups. The partnership aimed to programmable logic controllers, human-machine interfaces, cutting-edge electronic teaching tools, and many other tools.
  • Oct-2021: IBM came into a partnership with Deloitte to launch DAPPER, an AI-enabled managed analytics solution. Through this launch, the companies aimed to boost up the AI across and hybrid cloud adoption in the business.
  • Oct-2021: UiPath formed a partnership with Snowflake, a data cloud company. Through this partnership, the companies aimed to offer faster data processing to its customer by integrating UiPath's portfolio with elastic scaling, compute, and enterprise-grade secure data sharing offerings of Snowflake. Moreover, this partnership would further allow the companies to perform long-term historical analyses in order to scale their automation journeys.
  • Jul-2021: Rockwell Automation formed a partnership with Kezzler AS, cloud-based product digitization and traceability platform. Following the partnership, the companies aimed to help manufacture in order to trace their product from raw material to point of sale using cloud-based supply chain solutions. In addition, the companies would help customers connect with manufacturing, logistics, suppliers, and consumer in a real-time traceability platform.
  • Jul-2021: Cisco teamed up with Bharti Airtel, an Indian multinational telecommunications services company. Under this partnership, Cisco introduced connectivity solutions for enterprises based on a wide area of networking technology. Moreover, the companies would allow the business to configure, migrate, manage, and design their WAN infrastructure-focused towards digitizing businesses, supporting them with the best user experience.
  • Jul-2021: Verizon Business formed a strategic partnership with Mastercard, leading global payments & technology company. This partnership focused on unlocking Internet of Things connectivity sensors to power banking industries, payments, and fintech in real-time edge computing. Additionally, working with arm SMB to hyper-automated and immersive commerce experiences.
  • Mar-2021: Verizon Business formed a partnership with Visionable, a leading health technology company based in the U.K. Following the partnership, the companies would bring Verizon extensive secure network infrastructure as well as Visionable patented, unique, and next-generation healthcare platform to help professionals to access data, collaborate and share resources. Additionally, this partnership focused on APAC and EMEA regions opportunities.
  • Jan-2021: Cisco collaborated with Verizon Business, a provider of services and products across the world. Through this collaboration, Verizon focused on enhancing its Network as a Service digitization strategy combined with Cisco SD-WAN services for 4G/5G connectivity. Moreover, this solution would expedite never-changing customer demand by adopting the latest technology, network strategy service, and the ability to scale the Verizon 4G and 5G networks.
  • Jan-2021: IBM extended its partnership with Larsen & Toubro Infotech, a global technology consulting and digital solutions company. Under this extended partnership, the companies focused on transforming their organization operation through open hybrid cloud adoption. Additionally, LTI would help their consumers to modernize and migrate their business applications open hybrid cloud platform developed on Red Hat OpenShift.
  • Oct-2020: Rockwell Automation extended its five-year partnership with Microsoft, an American multinational technology corporation that produces computer software, consumer electronics, personal computers, and related services. Together, the companies would work to develop market-ready solutions that help industrial consumers improve digital agility through cloud technology. Moreover, to provide edge-to-cloud-based solutions that connect information between development, operations, and maintenance teams through a singular, trusted data environment.
  • Oct-2020: Honeywell came into a partnership with Microsoft, an American multinational technology corporation. Under this partnership, Honeywell would launch its domain-specific applications on the Microsoft cloud platform to allow its clients to increase their productivity. In addition, With this integration of Honeywell's AI-driven autonomous controls into Microsoft Dynamics 365 Field Service, companies would allow their customers to access operating data including workflow management support to enhance performance, as well as save the energy within the business environment.

» Product Launches and Product Expansions:

  • May-2021: Honeywall, together with SAP launched a new offering for connected buildings. This offering would assist property owners and managers improve their real estate operations to fulfill sustainability objectives and right-size office space as more employers embrace flexible work policies.

» Acquisitions and Mergers:

  • Nov-2021: Rockwell Automation took over Avata, a leading provider of services for the supply chain management. Under this acquisition, the AVATA would help Kalypso, a subsidiary of Rockwell in fulfilling the demand of its customers by expanding its IT/OT convergence portfolio. In addition, the companies would substantially enhance the end-to-end supply chain management and visibility.
  • Dec-2020: Honeywell took over Sine Group, an Adelaide, Australia-based software and technology service company. Under this acquisition, Sine software would increase offering to expand Honeywell connected buildings with security, safety, and compliance capabilities. Additionally, Sine's technologies would support a cloud-based mobile platform for Honeywell Forge.

Scope of the Study

Market Segments Covered in the Report:

By Component

  • Solution and
  • Services

By End User

  • Manufacturing
  • BFSI
  • Healthcare
  • Retail & eCommerce
  • IT & Telecom
  • Energy & Utilities, and
  • Others

By Type

  • Manufacturing Execution System
  • Remote Monitoring System
  • Asset Performance Management
  • Customer Experience Management
  • Enterprise Infrastructure Management and
  • Others

By Geography

  • North America
    • US
    • Canada
    • Mexico
    • Rest of North America
  • Europe
    • Germany
    • UK
    • France
    • Russia
    • Spain
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Singapore
    • Malaysia
    • Rest of Asia Pacific
  • LAMEA
    • Brazil
    • Argentina
    • UAE
    • Saudi Arabia
    • South Africa
    • Nigeria
    • Rest of LAMEA

Key Market Players

List of Companies Profiled in the Report:

  • Rockwell Automation, Inc.
  • Cisco Systems, Inc.
  • Microsoft Corporation
  • IBM Corporation
  • Robert Bosch GmbH
  • Honeywell International, Inc.
  • UiPath, Inc.
  • Verizon Communications, Inc.
  • General Electric (GE) Co.
  • Wipro Limited

Unique Offerings from KBV Research

  • Exhaustive coverage
  • The highest number of market tables and figures
  • Subscription-based model available
  • Guaranteed best price
  • Assured post sales research support with 10% customization free

Related Reports:

North America Connected Enterprise Market Report 2021-2027

Europe Connected Enterprise Market Report 2021-2027

Asia Pacific Connected Enterprise Market Report 2021-2027

LAMEA Connected Enterprise Market Report 2021-2027

FREQUENTLY ASKED QUESTIONS (FAQ):

The global connected enterprise market size is expected to reach $1.4 Trillion by 2027.

Businesses increasingly relying on digital methods are driving the market in coming years, however, concerns regarding data privacy limited the growth of the market.

Rockwell Automation, Inc., Cisco Systems, Inc., Microsoft Corporation, IBM Corporation, Robert Bosch GmbH, Honeywell International, Inc., UiPath, Inc., Verizon Communications, Inc., General Electric (GE) Co., and Wipro Limited.

The Services market shows high growth rate of 31% during (2021 - 2027).

The Manufacturing market acquired maximum revenue share in the Global Connected Enterprise Market by End User in 2020, achieving a market value of $372.0 Billion by 2027.

The North America market is the fastest growing region in the Global Connected Enterprise Market by Region in 2020, and would continue to be a dominant market till 2027.

Purchase Report

 3600
 4320
 6048

Special Pricing & Discounts

  • Buy Sections of This Report
  • Buy Country Level Reports
  • Request for Historical Data
  • Discounts Available for Start-Ups & Universities