The term “connected enterprise” describes an ecosystem where all business lines have been digitalized and linked. This allows them to obtain more insights and boost their company's productivity by coordinating technological operations and fostering closer levels of collaboration that lead to better business outcomes. The primary categories of interconnected businesses include systems for manufacturing execution, asset performance management, enterprise infrastructure management, customer experience management, and remote monitoring systems, among others. The factory execution system allows controllers, machinery, and enterprise business systems to communicate with ease by connecting real-time production data from multiple suppliers, plants, and locations. Solutions and services are among the various offerings of linked enterprises. These find use in the following domains: manufacturing, BFSI, e-commerce, retail, energy and utilities, and IT and telecommunication.
According to SPER market research, ‘Connected Enterprise Market Size- By Platform, By Solution, By Service, By End User- Regional Outlook, Competitive Strategies and Segment Forecast to 2032’ state that the Connected Enterprise Market is estimated to reach USD 5493.14 billion by 2032 with a CAGR of 28.63%.
Several things may have an impact on the market drivers for the connected enterprise market. Data analytics is essential to the connected enterprise because it enables organizations to derive meaningful insights from the data generated by networked devices and systems. By looking at this data, businesses may encourage innovation, simplify processes, and make wise decisions. Collaboration tools, virtual meetings, and cloud-based apps are essential for maintaining productivity and communication in a distributed workforce. Businesses that successfully incorporate linked technologies will have a significant competitive advantage. By streamlining procedures, improving client interactions, and promoting creativity, businesses can differentiate themselves from competitors and accelerate expansion.
Several things could hinder or complicate the connected enterprise market. Implementing linked enterprise systems may be challenging for small and medium-sized enterprises due to the significant upfront costs associated with infrastructure, software, hardware, and employee training. Networked enterprise systems are vulnerable to cyberattacks and data breaches, which can cause significant financial losses as well as damage to the company's reputation. Integrating various devices, systems, and technologies into an organization's current infrastructure can be challenging and complex. The absence of such skilled workers may hinder the adoption of connected business solutions. Businesses that use linked business solutions must abide by several regulations. Meeting these requirements can be costly and challenging.
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Impact of COVID-19 on the Global Connected Enterprise Market
Healthcare technology is undergoing a technological revolution thanks to the coronavirus outbreak. Additionally, companies are moving toward an entirely automated environment due to the positive results of automation solutions being adopted, which is predicted to increase demand for the connected enterprise sector. Furthermore, the advantages of automation solutions that have been implemented have forced organizations to make the switch to a fully automated environment. In turn, during the global health crisis, this has emerged as one of the primary development drivers for the connected enterprise market.
Connected Enterprise Market Key Players:
North America is anticipated to dominate the connected enterprise market throughout the forecast period, holding the biggest market share. The main participants include Accelerite, Cisco Systems Inc., General Electric Company, Honeywell International Inc., IBM Corporation, and Jacobs Engineering Group Inc.
Connected Enterprise Market Key Segments Covered
The SPER Market Research report seeks to give market dynamics, demand, and supply forecasts for the years up to 2032. This report contains statistics on product type segment growth estimates and forecasts.
By Platform:
- Application Enablement
- Connectivity Management
- Device Management
By Solution:
- Asset Performance Management
- Customer Experience Management
- Data Management
- Enterprise Infrastructure Management
By Service:
- Consulting Services
- Integration and Deployment Services
- Managed Services Consulting Services
- Integration and Deployment Services
- Managed Services
By End User:
- BFSI
- Energy and Utilities
- Government
- Healthcare and Life Sciences
- Manufacturing
By Region:
- Asia-Pacific
- Europe
- Middle East & Africa
- North America
- Latin America
This study also encompasses various drivers and restraining factors of this market for the forecast period. Various growth opportunities are also discussed in the report.
For More Information, refer to below link:-
Connected Enterprise Market Future Outlook
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