Global Connected Enterprise Market - 2023-2030

Overview

Global Connected Enterprise Market reached US$ 267.2 billion in 2022 and is expected to reach US$ 3,154.3 billion by 2030, growing with a CAGR of 28.3% during the forecast period 2023-2030.

The adoption of IoT devices, 5G connectivity, edge computing and cloud computing made it easier to connect various components of an enterprise seamlessly. With more devices and systems connected, there's an abundance of data available, this data can be leveraged for better decision-making, predictive maintenance and process optimization. Implementing a Connected Enterprise can lead to cost savings through automation, reduced downtime and improved resource allocation.

Enterprises that embrace this concept can gain a competitive edge by responding more quickly to market changes and customer demands. Connected systems can often be scaled easily to accommodate business growth and changing needs. Consumers increasingly expect businesses to offer seamless, connected experiences. Meeting these expectations can enhance customer satisfaction and loyalty.

In 2022, Asia-Pacific is expected to be the fastest growing regions in the global connected enterprise market with less than 1/4th of the market. Many countries in the region are actively pursuing digital transformation agendas. Governments and businesses are investing in technology infrastructure and digital capabilities, making the adoption of the connected enterprise a strategic imperative.

Dynamics

Rising Adoption of IoT

The global connected enterprise market is being driven by the increasing usage of IoT across various businesses. The implementation of IoT into the retail sector has a major impact on the retail market. With the rise in retail sales, using IoT sensors into consumer devices allows retailers to understand and monitor consumer behavior in a better way, collect data and enhance the user experience, a key factor of the connected retail sector.

Furthermore, on 5 September 2023, iONLINE Connected Networks launched its FlexiSIM intelligent network switching SIM card in UK. FlexiSIM offers multi-network resilience across EE, Vodafone, O2 and Three, addressing challenges around network resilience, security and scalability for enterprise organizations using mobile networks to connect their devices.

Growing Automation and Cloud Computing

Connected enterprise platforms built on cloud infrastructure are highly flexible. They can adapt to changing business needs, market conditions and industry regulations quickly and this flexibility enables organizations to pivot, innovate and stay competitive. Cloud computing eliminates the need for extensive on-premises hardware and reduces IT maintenance costs. Together, the technologies help organizations achieve cost savings while improving operational performance.

For instance, on 2 September 2023, Nokia announced a partnership with NTT Ltd. To provide private wireless networking solutions to over 3.2 million enterprises in Thailand, this collaboration aims to accelerate digital transformation, boosting productivity, operational efficiency and worker safety. The partnership encompasses a range of Nokia networking solutions, including the Nokia digital automation cloud (DAC) and MX Industrial Edge (MXIE).

Technology Advancement

Cloud platforms provides a scalable and cost-effective solutions for data storage, processing and analysis. Connected Enterprise platforms leverage cloud infrastructure to store and manage vast amounts of data, facilitate remote access and enable seamless collaboration among stakeholders. Advanced technologies make it easier to customize connected enterprise solutions to meet specific industry needs and scale them as businesses grow and this flexibility ensures that the platform remains relevant and adaptable to changing requirements.

For instance, on 5 September 2023, The ATLATL Beijing International Innovation Center, also known as "Beijing ATLATL," officially started its Phase II operations in the Zhongguancun Life Science Park. The center, initiated in 2021, has already supported more than 20 innovation teams, raising over 2 billion RMB in total funding. ATLATL focuses on advancing scientific innovation and enhancing the innovation ecosystem globally.

Cyberattacks Vulnerabilities and Complex Platform

The interconnected nature of connected enterprise systems creates vulnerabilities that can be exploited by cyberattacks. Ensuring robust cybersecurity measures and constant monitoring is essential to mitigate these risks. Collecting, storing and sharing large volumes of data across interconnected devices and systems raises concerns about data privacy and compliance. Maintaining data privacy and securing sensitive information is a significant challenge.

Implementing and managing a connected enterprise platform can be complex, especially for organizations with legacy systems. Integrating new technologies with existing infrastructure and ensuring seamless communication between devices can be challenging. Ensuring that devices, sensors and systems from different manufacturers can communicate and work together seamlessly can be a significant hurdle. Lack of standardization and compatibility issues can hinder interoperability.

Segment Analysis

The global connected enterprise market is segmented based platform, solution, service, end-user and region.

Increasing Adoption of Device Platform

Device management is expected to be the dominant segment with about 1/3rd of the market during the forecast period. The ability to collect, analyze and derive insights from the data generated by connected devices is a critical factor. Connected enterprise device platforms that offer robust data analytics capabilities can provide valuable insights to organizations, driving their adoption. Platforms that offer interoperability with a wide range of devices and protocols make it easier for organizations to implement connected solutions.

For instance, on 01 March 2023, Wipro launched its "5G Def-I" platform, an end-to-end solution designed to help businesses seamlessly connect assets and systems on 5G networks, this device integrated platform aims to enable companies to transform their infrastructure, networks and services to realize the benefits of 5G quickly and efficiently. Wipro's 5G Def-I platform bundles network connectivity tools and enablers on a cloud-native foundation, reducing complexities and accelerating the implementation of services for the connected enterprise.

Geographical Penetration

Development and Adoption of Connected Technologies in North America

North America is among the growing regions in the global connected enterprise market covering more than 1/3rd of the market in 2022. The region has been at the forefront of technological innovation, with a robust ecosystem of tech companies, startups and research institutions and this innovation engine drives the development and adoption of connected technologies, this demand drives businesses to invest in digital customer engagement and personalization.

For instance, on 8 November 2022, Nagarro, a global digital engineering leader, entered into a partnership with XMReality to enhance its Connected Worker offerings. The partnership will integrate XMReality's remote visual assistance solution with Nagarro's Connected Maintenance Platform, designed to assist enterprises in conducting maintenance activities and documenting procedures.

Competitive Landscape

The major global players in the market include: Microsoft Corporation, IBM Corporation, General Electric Company, Cisco Systems, Inc., Verizon Communications, Inc., PTC Inc., HARMAN International Industries Ltd., Rockwell Automation, Inc., Jacobs Engineering Group, Inc. and Bosch GmbH.

COVID-19 Impact Analysis

Lockdowns and social distancing measures in place, many organizations had to quickly adapt to remote work environments, this led to increased reliance on connected technologies to ensure that remote employees could access critical systems, collaborate with colleagues and maintain productivity. The pandemic highlighted the importance of digital transformation for business resilience.

The disruption in global supply chains forced organizations to rethink and optimize their supply chain operations. Connected technologies such as IoT sensors and analytics played a crucial role in monitoring and managing supply chain disruptions. Connected devices, including IoT sensors and wearable technology, were used to monitor and ensure the safety of employees in workplaces. For example, contact tracing solutions and occupancy monitoring systems helped organizations comply with health guidelines.

The pandemic led to a surge in e-commerce and online services. Connected platforms enabled businesses to quickly expand their online presence and offer services through digital channels. Connected healthcare devices and telemedicine solutions experienced rapid growth during the pandemic and these technologies allowed patients to receive medical care remotely and minimize in-person visits to healthcare facilities.

AI Impact

AI-powered analytics tools process vast amounts of data generated by interconnected devices and systems, extracting valuable insights in real-time. Predictive analytics uses AI algorithms to forecast equipment failures, maintenance needs and supply chain disruptions, helping organizations take proactive measures. AI-driven automation streamlines routine tasks and processes within the Connected Enterprise, reducing manual intervention and human error.

AI algorithms analyze sensor data from connected machinery and equipment to predict when maintenance is needed and this minimizes downtime and reduces maintenance costs. Robotic Process Automation and AI-powered bots can handle repetitive tasks in areas such as customer support, data entry and inventory management. AI-driven chatbots and virtual assistants enable personalized customer interactions in real-time, improving customer satisfaction and response times.

For instance, on 31 August 2023, IBM and Salesforce have joined forces to accelerate the adoption of trustworthy AI for customer relationship management across various industries. IBM Consulting will leverage its industry expertise and innovative delivery models, including the IBM Garage methodology, to guide clients in adopting and deploying Salesforce AI technologies and this approach aims to facilitate efficient integration across various Salesforce AI solutions, including Einstein, Sales Cloud, Service Cloud, Marketing Cloud and Slack.

Russia- Ukraine War Impact

The conflict in war has the potential to disrupt global supply chains, particularly in the technology sector. Ukraine is known for its skilled IT workforce and many global tech companies outsource software development and IT services to Ukrainian firms. Any disruptions to these services could affect the development and maintenance of connected technologies. Any disruptions in energy supplies could impact the operations of data centers and other energy-intensive infrastructure that supports connected enterprises.

In times of geopolitical conflict, there is often an increase in cybersecurity threats, including cyberattacks and hacking attempts. Connected enterprises rely heavily on secure networks and data protection. An escalation in cyber threats could lead to increased investment in cybersecurity measures and technologies. The conflict could influence the pace of technological innovation, as geopolitical instability can affect research and development efforts.

By Platform

• Device Management
• Connectivity Management

By Solution

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

By Service

• Managed
• Professional
• Support and Maintenance
• Integration and Deployment Services

By End-User

• BFSI
• Retail & Ecommerce
• Energy & Utility
• Manufacturing
• Oil & Gas
• IT & Telecommunication
• Others

By Region

• North America
  • U.S.
  • Canada
  • Mexico

• Europe
  • Germany
  • UK
  • France
  • Italy
  • Russia
  • Rest of Europe

• South America
  • Brazil
  • Argentina
  • Rest of South America

• Asia-Pacific
  • China
  • India
  • Japan
  • Australia
  • Rest of Asia-Pacific

• Middle East and Africa

Key Developments

• On June 2023, Moody's Corporation and Microsoft launched a new partnership to help businesses simplify and enhance their operations. Businesses will be able to employ Moody's software offerings on Microsoft's cloud platform, providing them with a scalable and secure data storage and processing platform.
• On November 2022, Persistent Systems and Software AG, a pioneer in business software for integration, IoT and automation, have formed a strategic partnership to develop new industrial solutions for the connected enterprise. Persistent Systems will deliver collaborative solutions to achieve operational excellence by modernizing apps and procedures and enabling data movement across enterprises easier in order to unlock value.
• On 15 March 2022, Software AG launched a ChatGPT API Connector for its webMethods.io integration platform, allowing companies to integrate OpenAI's generative AI tool, ChatGPT, into their business processes, this integration enhances various functions, including customer services and personalized updates for multi-stage and customer-relevant processes, helping companies deliver higher levels of service to their customers.

Why Purchase the Report?

• To visualize the global connected enterprise market segmentation based on platform, solution, service, end-user and region, as well as understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development.
• Excel data sheet with numerous data points of connected enterprise market-level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as excel consisting of key products of all the major players.

The global connected enterprise market report would provide approximately 69 tables, 73 figures and 186 Pages.

Target Audience 2023

• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies