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2025-2034 Connected Enterprise Market Outlook: Key Drivers, Emerging Challenges, and Strategic Insights
Connected Enterprise
What Will the Connected Enterprise Industry Market Size Be by 2025?
The market for connected enterprise has witnessed monumental expansion over the last few years. Predicted to surge from $556.4 billion in 2024 to an impressive $730.26 billion in 2025, it's anticipated to experience a compound annual growth rate (CAGR) of 31.2%. The significant expansion during the historic period owes much to the uptake of cloud computing, forward strides in edge computing, the leveraging of data analytics and big data, the rollout of digital transformation strategies, and strides towards industry 4.0 and intelligent manufacturing.
What's the Long-Term Growth Forecast for the Connected Enterprise Market Size Through 2029?
The expected size of the connected enterprise market is forecasted to experience significant expansion over the upcoming years, with projected growth soaring to $2187.18 billion in 2029, at a CAGR of 31.6%. This anticipated growth during the predictive period can be ascribed to the evolution of agile and adaptive business models, the emergence of intelligent buildings and facilities, heightened attention to health and safety, and commitments to energy conservation and sustainability. The forecast period is also expected to witness several major trends such as the use of predictive maintenance for optimising assets, the integration and interoperability across various platforms, the use of edge computing for real-time processing, the adoption of cloud-native and hybrid cloud solutions, the enhancement of cybersecurity and data privacy, and the use of blockchain for secure transactions.
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What Are the Key Growth Drivers Fueling the Connected Enterprise Market Expansion?
The global uptake of 5G networks is projected to spur the expansion of the connected enterprise market. 5G, the evolution of mobile networks, improves the speed and response of wireless networks. The enhanced speed, bandwidth, and reduced lag of 5G facilitates a superior connection experience for businesses, enabling them to offer their customers and employees improved services and boost their customer experience. For example, IoT Analytics, a German-based firm specializing in business intelligence for IoT, AI, Cloud, Edge, and Industry 4.0, reported in September 2024 that public 5G constituted 95% of global 5G IoT connections in 2023. Additionally, private 5G connections totalled 1.28 million, accounting for 5% of the 5G IoT connections share. Furthermore, 51% of businesses that have adopted IoT intend to enhance their IoT budget in 2024, and 22% anticipate a budget increase of over 10% compared to 2023. Thus, the proliferation of 5G is playing a significant role in the growth of the connected enterprise market.
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What Are the Key Trends Driving Connected Enterprise Market Growth?
The emergence of open communication platforms is an emerging trend attaining popularity in the connected enterprise market. Key players in the connected enterprises industry are concentrating on creating open platforms for superior communication channels and safe data transfer. For example, in March 2023, the Wipro Limited, an IT company based in India, introduced its 5G Def-I platform. This platform's distinctive attributes consist of proprietary Wipro frameworks like Data Discovery Platform, Multi-Domain Orchestrator, and Cloud Native NFs runtime platform, as well as components from a group of communication service providers, network equipment, and software suppliers. The 5G Def-i platform is formulated to allow companies to seamlessly adjust their infrastructure, networks, and services.
How Is the Connected Enterprise Market Segmented?
The connected enterprisemarket covered in this report is segmented -
1) By Type: Manufacturing Execution System, Customer Experience Management, Enterprise Infrastructure Management, Asset Performance Management, Remote Monitoring System, Other Types
2) By Offering: Solutions, Services
3) By End-User: Manufacturing, IT and Telecommunication, Retail and E-commerce, BFSI, Healthcare, Energy and Utility, Other End-Users
Subsegments:
1) By Manufacturing Execution System (MES): Real-Time Monitoring, Production Scheduling
2) By Customer Experience Management (CEM): Customer Feedback Solutions, Omni-channel Engagement Platforms
3) By Enterprise Infrastructure Management: Network Management, Data Center Management
4) By Asset Performance Management: Predictive Maintenance, Asset Tracking Solutions
5) By Remote Monitoring System: IoT-Based Monitoring, Cloud-based Monitoring
6) By Other Types: Supply Chain Management, Workforce Management Solutions
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Which Companies Are Leading the Charge in Connected Enterprise Market Innovation?
Major companies operating in the connected enterprise market include Cisco Systems Inc., PTC Inc., Microsoft Corporation, Robert Bosch GmbH, Honeywell International Inc., General Electric Company, Accelerite, Verizon Communications Inc., MindTree Ltd., UiPath, HARMAN International, Jacobs Engineering Group Inc., Wipro Limited, Telefonaktiebolaget LM Ericsson, Amdocs and FUJITSU, Atos SE, Capgemini SE, CGI Inc., Cognizant Technology Solutions Corporation, DXC Technology Company, Hindustan Computers Pvt. Limited, International Business Machines Corporation, Infosys Limited, NTT DATA Corporation, Rockwell Automation Inc., Tata Consultancy Services Limited, Tech Mahindra Limited, Vodafone Group Plc, SAP SE.
Which Regions Are Leading the Global Connected Enterprise Market in Revenue?
North America was the largest region in the connected enterprise market in 2024.Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the connected enterprise market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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