Connected Enterprise Market Size, Share,Growth, Industry, Forecast and outlook (2024-2031)

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.

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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.

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Segment Analysis

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.

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.

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