Published Date: 31-Mar-2022
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According to a new report Global Connected Enterprise Market, published by KBV research, 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 Services market shows high growth rate of 31% during (2021 - 2027). The growth can be attributed to the increasing adoption of these services to reduce IT costs. Organizations are outsourcing services to reduce the risks so that they can focus on core competencies.
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. Internet of Things has enhanced the transparency in the manufacturing that each production unit can be watched in the production process. It allows an enterprise to make changes in operational excellence and operational innovations.
The Manufacturing Execution System market segment has high growth rate of 25.8% during the forecast period. It is a vibrant component of the manufacturing sector that helps enterprise systems to integrate with system information on the plant floor. An increase in lead time and the growth of industrial automation impacts positively to the growth of the Manufacturing Execution System segment.
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; thereby, achieving a market value of $458.1 Billion by 2027. The Europe market is expected to witness a CAGR of 27% during (2021 - 2027). Additionally, The Asia Pacific market is expected to witness a CAGR of 29.8% during (2021 - 2027).
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of 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.
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