Connected Enterprise Market Latest Trend,Future Growth & Forecast by 2025
The connected enterprise market has become a key part of the corporate sector following the widespread adoption of digital data storage and communication protocol. The connected enterprise sector represents a web of technologies and devices rather than an isolated solution. A wide variety of solutions aimed at stronger business integration and easier communication between various nodes of a corporate network make up the global connected enterprise market. Rising awareness regarding the benefits of the technology has been vital for the global connected enterprise market, as high costs remain a significant restraint for the market even in developed economies.
The benefits of incorporating a connected enterprise system are seen mainly in quick and easy communication and the help provided by the same in decision making. Connecting the disparate nodes of the corporate web has been the key demand from the corporate sector, as it has become necessary in a highly dynamic market. Due to the continuous fluctuations in the global economic scenario, smooth communication between hierarchies and various subsystems has become vitally important in the corporate sector. This has been the key driver for the global connected enterprise market and is likely to ensure steady demand in the coming years.
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Leading players in the global connected enterprise market include Cisco Systems Inc., IBM Corporation, Microsoft Corporation, Verizon Communications Inc., Honeywell International Inc., General Electric, and Rockwell Automation Inc. As can be seen from the dominance of North American companies, the region is the leading contributor to the global connected enterprise market. This is mainly due to the high costs of adopting comprehensive connected enterprise systems, which have restricted demand from the connected enterprise market in developing regions such as Asia Pacific and Latin America.
Global Connected Enterprise Market: Overview
A connected enterprise is a business ecosystem whose all lines of business are digitized, including but not limited to customer service and sales, research and development, finance, human resources, internal communication, and finance. A connected ecosystem is capable of changing the way an enterprise in a number of industries operates. By enabling a seamless and secure connection between people, equipment, and processes, connected enterprises can make use of smart processes capable of using the power of data analytics and help improve the effectiveness of overall operations and reduce operational costs.
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The increased realization of the vast potential benefits of a connected ecosystem, in terms of improved communication and overall service quality with customers, partners, and employees, and effective and faster response to threats and opportunities, is compelling enterprise to turn to digitization and connected enterprise technology. A connected ecosystem is fast becoming the central approach taken by enterprises to achieve digital transformation in processes and operations and make them more agile and productive.
This report on the global connected enterprise market presents a thorough overview of the growth dynamics of the market and its key segments in the present-day scenario. Vast projections regarding the growth prospects of the market and its segments across key regional market and on a global front are also included. Projections are based on intensive analysis of factors such as trends, drivers, challenges, opportunities, regulatory aspects, level of competition, inputs from industry experts, and industry-best analytical techniques.
Global Connected Enterprise Market: Drivers and Restraints
Globally, a continuously rising number of forward-thinking enterprises are recognizing the potential of a connected ecosystem and increasing investment required to move from a conventional IT infrastructure to a completely connected one. In the next few years, this trend will lead to a significant rise in demand for connected enterprise solutions and services, allowing the market significant growth opportunities across a number of regional markets. Across the industrial sector, the intense competition faced even by the most reputed and established companies will be a factor compelling enterprises to move to a connected ecosystem to gain optimal results in terms of productivity, effectively, and cost-competitiveness.
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As the number of connected and smart data points increase in enterprises, owing to the increasing integration of mobile computing devices in internal enterprise networks, trends such as bring-your-own-device (BYOD), and geographically dispersed workplaces, the need for effective solutions to bring all these data points together in one unified and secure network will continue to rise. These factors will also significantly drive the global connected enterprise market in the next few years.
Global Connected Enterprise Market: Geographical Outlook
Presently, the high cost involved in the implementation of a connected enterprise ecosystem and the shift from conventional to an advanced IT infrastructure have mostly restricted the market to developed economies. However, the adoption is seen rising at a highly encouraging pace across many developed economies across regions such as Asia Pacific and Latin America. Over the report’s forecast period, the market will gain a substantial share in its revenue from sales and services across emerging economies with a strengthening enterprise sector. Presently, however, North America accounts for the leading share in the global market, followed by Europe.
Global Connected Enterprise Market: Competitive Dynamics
Some of the key vendors operating in the highly competitive market profiled in the report are Rockwell Automation, Inc., PTC, Inc., Microsoft Corporation, IBM Corporation, Honeywell International, Inc., Cisco Systems, Inc., General Electric, Accelerite, and Verizon Communications, Inc. Apart from these established players, several regional and domestic players also account for a sizeable share in the global market owing to economic and custom-made products.
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