Connected Enterprise Market Size - By Solution (Manufacturing Execution System, Customer Experience Management, Business Analytics, Application Value Management, Remote Monitoring), Platform, End-User Industry & Forecast, 2024 - 2032
Published Date: April - 2025 | Publisher: MRA | No of Pages: 240 | Industry: Media and IT | Format: Report available in PDF / Excel Format
View Details Buy Now 2890 Download Sample Ask for Discount Request CustomizationConnected Enterprise Market Size
Connected Enterprise Market size surpassed USD 358.6 billion in 2023 and is forecast to grow at a CAGR of more than 29.4% from 2024 to 2032. IoT solution improvements are driving the growth of the market. Improvements in IoT technologies allow companies to gather & analyze huge amounts of data from different devices, improving operational efficiency, real-time decision-making, as well as customer experiences. This interconnectivity maximizes supply chains, enhances asset management, and streamlines processes, leading to improved productivity and cost reduction.
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As IoT continues to evolve, organizations are using these solutions more and more to remain competitive and keep up with the evolving business environments. Different organizations are investing in IoT solutions. For example, in July 2023, Verizon introduced a cross-border IoT connectivity platform. This platform offers a solution for companies interested in taking their IoT business globally by tapping the strength of native eSIM and roaming support from Mobile Network Operator (MNO) partners.
| Report Attribute | Details |
|---|---|
| Base Year | 2023 |
| Connected Enterprise Market Size in 2023 | USD 358.6 Billion |
| Forecast Period | 2024 to 2032 |
| Forecast Period 2024 to 2032 CAGR | 28.9 % |
| 2032 Value Projection | USD 3.52 Trillion |
| Historical Data for | 2018 – 2023 |
| No. of Pages | 300 |
| Tables, Charts & Figures | 296 |
| Segments covered | Platform, solution, and End-User Industry |
| Growth Drivers |
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| Pitfalls & Challenges |
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What are the growth opportunities in this market?
The growth of remote workspaces is predicted to strongly drive the connected enterprise industry growth. As employees engage in remote work from various locations, firms are embracing high-end connectivity technologies as well as cloud-based solutions to provide seamless communication & collaboration. This transformation boosts demand for IoT devices, network infrastructure, and cybersecurity solutions to cater to remote teams. Connected enterprises are therefore investing in technology in an effort to improve remote working processes, leading to market growth in order to address the changing needs of the workplace.
Privacy issues and cybersecurity threats are the major challenges for the connected enterprise market. With more dependency on interconnected devices and data exchange, they are exposed to cyberattacks and data breaches. These attacks have the potential to cost companies financially, lead to reputation loss, as well as cause regulatory fines. Privacy issues are raised because of collection & use of vast amounts of data, creating ethical & compliance issues. Having complete data protection policies & compliance models in place can reduce the risk while building customer & partner trust, enabling secure & ethical business in the connected enterprise world.
Connected Enterprise Market Trends
AI is transforming the connected enterprise sector by improving data analytics and automation. AI-driven insights facilitate enhanced decision-making and predictive maintenance, maximizing operations and resource efficiency. Machine learning algorithms are enhancing cybersecurity by detecting threats in real-time. AI-enabled chatbots and virtual assistants are improving customer engagement & support. AI-driven personalization is improving customer experiences. As companies continue to adopt AI into their businesses, it is transforming the connected enterprises landscape, driving efficiency, innovation, and competitiveness across different industries.
Digital twin technology is picking up speed in the marketplace because it helps companies develop virtual copies of physical assets, processes, and systems. Digital twins facilitate real-time monitoring, simulation, and analysis, which generates useful insights to make informed decisions, predict and prevent maintenance needs, and improve operations. They are applied in industries like manufacturing, healthcare, and city planning. The utilization of digital twin technology is the increasing demand for data-driven, efficient, and cost-saving solutions in connected business.
Connected Enterprise Market Research
Find more details on the market's crucial segments
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Solution-based, the Manufacturing Execution System (MES) segment held 29% of the market share in 2023, driven by the increasing focus on streamlining manufacturing processes, enhanced quality control, and rising operational efficiency. MES solutions provide real-time monitoring, data analytics, and automation, which are increasingly becoming mandatory for contemporary manufacturing. With industries adopting Industry 4.0 fundamentals and the Internet of Things (IoT), MES solutions have a key role in linking & optimizing production processes, ultimately driving industry expansion.
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By End-User Industry, the manufacturing segment accounted for more than 33% of the connected enterprise market in 2023, as a result of the widespread implementation of Industry 4.0 strategies, whereby manufacturers utilize IoT, automation, and data analytics to promote operational effectiveness, cut downtime, and enhance product quality. Connected solutions make it possible to monitor & control manufacturing processes in real time, providing for glitch-free production and enabling predictive maintenance. As manufacturers focus more and more on digitization and connectivity, the requirement for connected enterprise solutions for the manufacturing industry is likely to grow.
Looking for region specific data?
North America connected enterprise market has posted approximately 37% revenue share in 2023, courtesy of accelerating tech growth. North America is the innovation center of the world with the ever-changing trends of IoT, AI, 5G, and cloud computing. It enables free flows of information, data interpretation, and process automation across business spaces. This encourages the rise of connected enterprise solution demand, powering growth & competitiveness across industry lines, and setting North America apart as the market leader of connected technology uptake.
For example, in May 2023, Honeywell increased its Forge software capabilities such as the launch of Connected Warehouse and the upgrading of the Asset Performance Management software. These improvements provide solutions for better asset management and warehouse operations, meeting the requirements of industries like manufacturing, logistics, and supply chain management in the market. The capacity of Forge software to streamline processes, increase operational effectiveness, and give real-time data insights drives the expansion & efficiency of interconnected enterprises in these industries.
Connected Enterprise Market Share
The major companies operating in the connected enterprise industry include
- Cisco Systems, Inc.
- General Electric Company
- IBM Corporation
- Verizon Communications
- Wipro Limited
- SAP SE
- Honeywell International
- Robert Bosch
- Schneider Electric
They focus on strategic partnerships, new product launches, and commercialization efforts for market expansion. They are also heavily investing in research to introduce innovative products and garner maximum market revenue.
Connected Enterprise Industry News
- In March 2023, Wipro launched the “5G Def-i” platform to accelerate the connected enterprise solutions. The platform can facilitate IoT deployment, data analytics, and real-time communication, enabling businesses to optimize operations, enhance productivity, and deliver innovative services in the rapidly evolving landscape of connected enterprises.
The connected enterprise market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue (USD million) from 2018 to 2032 for the following segments
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Market, By Platform
- Connectivity Management
- Application Enablement & Development
- Device Management
- Others
Market, By Solution
- Manufacturing Execution System
- Customer Experience Management
- Business Analytics
- Application Value Management
- Remote Monitoring
- Others
Market, By End-User Industry
- Manufacturing
- BFSI
- IT & Telecom
- Retail
- Healthcare
- Food & Beverage
- Others
The above information has been provided for the following regions and countries
- North America
- U.S.
- Canada
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Russia
- Nordics
- Asia Pacific
- China
- India
- Japan
- South Korea
- ANZ
- Southeast Asia
- Latin America
- Brazil
- Mexico
- Argentina
- MEA
- South Africa
- UAE
- Saudi Arabia
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