Connected Enterprise Market Overview

The connected enterprise market refers to the solutions and services that enable companies to integrate data, processes, people, and assets across digital ecosystems. This connectivity allows businesses to make data-driven decisions, automate processes, and deliver enhanced customer experiences.

The global connected enterprise market size was valued at $269.5 billion in 2022. It is expected to reach $2556.48 billion by 2032, exhibiting a CAGR of 28.40% during the forecast period according to Verified Market Research. Key growth factors include:

• Rising adoption of cloud, mobility, IoT, AI and other digital technologies by companies
• Need for visibility and coordination across complex supply chains and distributed workforce
• Focus on building omnichannel customer experiences and unified commerce

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Some major companies offering connected enterprise solutions:

• Microsoft: Provides solutions like Dynamics 365, Power Platform, and Azure to unify business processes.
• Oracle: Offers cloud-based ERP, HCM, SCM and CX solutions to connect all aspects of the enterprise.
• SAP: Solutions like S/4HANA and C/4HANA to get real-time data-driven insights across value chains.
• IBM: Integration, automation and insight solutions like Cloud Pak for Business Automation and Watson to optimize workflows.
• Cisco: Networking, cloud and cybersecurity solutions to securely connect distributed infrastructure.

Connected Enterprise Market Segments:

The connected enterprise market is segmented by components, deployment models, organization size, industry verticals, and regions:

• Components: solutions (unified communication, integrated platforms, data management, etc) and services (managed, consulting)
• Deployment Models: cloud-based and on-premise
• Organization Size: large enterprises and SMEs
• Industry Verticals: BFSI, healthcare, manufacturing, IT & telecom, retail & consumer goods, transportation, others
• Regions: North America, APAC, Europe, MEA, Latin America

Among components, the solutions segment accounted for the largest revenue share in 2021. The manufacturing vertical is expected to exhibit the highest CAGR over the forecast period.

Regional Insights:

• North America will continue to dominate the market through 2028, driven by early technology adoption and presence of connectivity solution vendors.
• Asia Pacific is expected to have the highest CAGR, fueled by rising connected enterprise investments in China, Japan and India.
• Europe accounts for the second largest revenue share due to growth in IoT, cloud computing and Industry 4.0.

Latest Industry Developments:

• Oracle expanded its connected enterprise portfolio through the acquisition of Cerner in 2022 for $28.3 billion.
• In 2022, Honeywell and Microsoft expanded their strategic alliance to accelerate enterprise digital transformation.
• Siemens acquired Brightly Software in 2020 to enhance its digital twin capabilities for managing complex assets and workflows.
• IBM and Verizon Business announced a partnership in 2021 to deliver integrated 5G and edge computing enterprise solutions.

The connected enterprise market is expected to witness robust growth in the coming years driven by the need for greater connectivity, automation, insights and customer engagement. Increasing adoption of enabling technologies like AI, IoT, blockchain and advanced analytics will further accelerate market expansion.

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