Connected Enterprise Market Size, Share, and COVID-19 Impact Analysis, By Type (Customer Experience Management, Enterprise Infrastructure Management, Asset Performance Management, Remote Monitoring System, Device Management, and Others), By End-user (Manufacturing, IT & Telecommunication, Retail & E-commerce, BFSI, Healthcare, Energy and Utility, and Others), and Regional Forecast, 2024-2032

A connected enterprise is a business system where every part of the business has been digitalized. It makes use of the internet of things (IoT) to obtain supplementary insights and fuel efficiency. Moreover, utilizing a connected enterprise approach as part of a digital transformation aids a company to unite technical and human processes while encouraging a better degree of cooperation.

• In January 2019, according to Tech Pro study, businesses are adopting IIoT solutions at a higher pace and 82% of the survey respondents either had employed IIoT or were implementing a pilot project.

Moreover, the rising need for cloud computing in all sectors such as healthcare, automotive, etc. is boosting the growth of the market. Also, the escalating demand for automation of various operations in healthcare, banking, and other sectors and the growing adoption of connected enterprises along with advanced technology by SMEs is expected to offer lucrative opportunities for market growth in the coming years. However, the high cost in deploying the Connected Enterprise is limiting the market growth.

Impact of COVID-19 on the Connected Enterprise Market

The spread of COVID-19 ushered in a technological evolution in the healthcare industry. The positive results of the previously implemented automation solutions are expected to encourage businesses to shift to fully automated environments. For instance,

• Uipath developed the UiPath Health Screening Bot, developed after the introduction of SARS-CoV globally, and was critical in raising awareness and providing automated responses.

Further, the positive results from the adopted automation solutions are expected to encourage businesses to shift towards fully automated environments, which is expected to boost the demand for the connected enterprise market.

Key Insights

The report will cover the following key insights:

• Micro Macro Economic Indicators.


• Drivers, Restraints, Trends and Opportunities.


• Business Strategies Adopted by the Players.


• Impact of COVID-19 on Connected Enterprise Market.


• Consolidated SWOT Analysis of Key Players.

Analysis by End-user

Based on end-user, the market is segmented into manufacturing, retail & e-commerce, IT & telecommunication, BFSI, energy and utility, healthcare, and others. Retail & e-commerce accounted for the highest market share in 2021. As retail sales increase, the integration of IoT sensors into various consumer devices enables retailers to better understand and monitor consumer behavior, collect data and improve their consumer experience. Additionally, retailers are increasingly looking for new ways to communicate with their customers to improve their shopping experience. Thus, the aforementioned factors are boosting the segment growth.

Regional Analysis

North America holds the largest market share and is expected to dominate the connected enterprise market in the forecast period owing to the technological advances and the proliferation of the Internet of Things (IoT) in countries such as the United States and Canada.

• As per to MAPI, the U.S. manufacturing production is expected to rise by 2.8% from 2018 to 2021, which will improve the implementation of automation technologies in the country, thereby supplementing the market for the connected enterprise.

The market shares of connected enterprise market by region are as follows:

• North America – 42%


• Europe – 29%


• Asia Pacific – 18%


• Middle East and Africa – 7%


• South America – 4%

Further, the Asia Pacific is expected to grow at the highest pace during the forecast period as the telecommunication and healthcare industries in the region have initiated to implement internet-enabled devices and solutions to enhance the quality of service they offer to their respective customer bases.

Key Players Covered

The report will include the profiles of key players such as Cisco Systems Inc., Accelerite, General Electric Company, Rockwell Automation Inc., Harman International, IBM Corporation, Jacobs Engineering Group Inc., MachineShop Inc., Microsoft Corporation, Honeywell International Inc., Verizon Communications Inc., Wipro Limited, and others.

Segmentation

Key Industry Developments

• In May 2022, Harman International & its Digital Transformation Solutions business unit became member in the Global Semiconductor Alliance.


• In April 2022, General Motors & Cisco Systems collaborated to reform and add automation in the development process for vehicle development data performance testing.