Connected Enterprise Market to Reach $3.16 Trillion, Globally, by 2030 at 28.4% CAGR: Allied Market Research

Increasing need for automation and cloud computing across industries, increased use of the Internet of Things across various industries to expand the market for connected enterprises, and the increasing integration of digital ways of business is driving the global connected enterprise market

Portland, ore.And February 1, 2022 /PRNewswire/- Allied Market Research published a report titled “Enterprise Market Connected by Offering Type (Solutions and Services) (Manufacturing Execution System, Customer Experience Management, Enterprise Infrastructure Management, Asset Performance Management, Remote Monitoring System, etc.), End User (Manufacturing and Technology) Information and Communications, Retail, E-Commerce, BFSI, Healthcare, Energy, Utilities, etc.): Global Opportunity Analysis and Industry Forecast, 2021-2030.” According to the report, the global enterprise industry connected to $267.74 billion In 2020, it is expected to happen 3.16 trillion dollars By 2030, recording a compound annual growth rate of 28.4% from 2021 to 2030.

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Drivers, limitations and opportunities

Increasing need for automation and cloud computing across industries, increased use of the Internet of Things across various industries to expand the market for connected enterprises, and the increasing integration of digital ways of business is driving the global connected enterprise market. On the other hand, the high cost of deployment and the lack of IoT standards restrict growth to some extent. However, evolving trends in the retail sector, increasing adoption of the Internet of Things in SMEs and technological advancements on the digital platform are expected to create lucrative opportunities in the industry.

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COVID-19 scenario

  • The increase in automated solutions during the pandemic has prompted companies to migrate to a fully automated environment, boosting the connected enterprise industry.

  • The companies were pushed into a fully automated environment, which helped the market grow even more.

  • This trend is likely to continue after the pandemic as well.

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Slice the solution to keep the lion’s share

On a component basis, the solutions segment captured the major share in 2020, accounting for nearly 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 very beneficial for the growth of the market. On the other hand, the service segment is expected to register the fastest compound annual growth rate of 30.6% throughout the forecast period. This is due to the fact that Enterprise Resource Planning (ERP) for professional services happens to deliver improved value by modernizing the operational infrastructure.

Manufacturing execution system sector will dominate by 2030

On the basis of type, the Manufacturing Execution System segment contributed the lion’s share in 2020, owning more than a quarter of the global connected enterprise market. However, the customer experience management segment is expected to show the fastest compound annual growth rate of 33.8% from 2021 to 2030. Other sectors studied through the report include enterprise infrastructure management, asset performance management and remote monitoring system.

Asia Pacific, followed by North America, which got the largest share in 2020

By region, market via Asia Pacific, followed by North America, which dominated in 2020, accounted for nearly a third of the global connected enterprise market. At the same time, the same region is also expected to report the fastest compound annual growth rate of 31.4% throughout the forecast period.

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The main players in the industry

  • Bosch Limited

  • Cisco Systems

  • UiPath

  • Accelerate

  • Honeywell International Corporation

  • GE digital

  • IBM

  • MindTree Ltd.

  • PTC

  • Rockwell Automation, Inc.

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Allied Market Research (AMR) is a full-service market research and business consultancy of Allied Analytics LLP, headquartered in Portland, Oregon. Allied Market Research provides global organizations as well as medium and small businesses with unparalleled quality of Market Research Reports and Business Intelligence Solutions. AMR has a targeted viewpoint to provide business insights and consultancy to help its clients make strategic business decisions and achieve sustainable growth in their market space.

pawan kumar, CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional institutional relationships with many companies and this helps us extract market data that helps us in creating accurate research spreadsheets and assures the utmost accuracy in our market forecasts. All data presented in the reports published by us are extracted through preliminary interviews with senior officials of the leading companies in the respective field. Our methodology for acquiring secondary data includes in-depth online and offline research and discussions with industry knowledgeable professionals and analysts.

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