Connected Enterprise Global Market Report 2024

Connected Enterprise refer to an ecosystem in which every business line has been digitalized and connected that are used to gain more insights and improve the productivity of their business by harmonising technological operations and a deeper level of collaboration to enhance productivity and business outcomes.

The main types of connected enterprises are manufacturing execution systems, customer experience management, enterprise infrastructure management, asset performance management, remote monitoring systems, and others. The manufacturing execution system connects live production data from various vendors, plants, and sites to interact seamlessly with controllers, equipment, and enterprise business systems. The different connected enterprise offerings include solutions and services. These are used in manufacturing, IT and telecommunication, retail and e-commerce, BFSI, healthcare, energy and utilities, and other end users.

The connected enterprise market research report is one of a series of new reports that provides connected enterprise market statistics, including global market size, regional shares, competitors with a connected enterprise market share, detailed connected enterprise market segments, market trends and opportunities, and any further data you may need to thrive in the connected enterprise industry. This connected enterprise market research report delivers a complete view of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The connected enterprise market size has grown exponentially in recent years. It will grow from $425.54 billion in 2023 to $566.88 billion in 2024 at a compound annual growth rate (CAGR) of 33.2%. The growth in the historic period can be attributed to cloud computing adoption, advancements in edge computing, data analytics and big data, digital transformation initiatives, industry 4.0 and smart manufacturing.

The connected enterprise market size is expected to see exponential growth in the next few years. It will grow to $1689.81 billion in 2028 at a compound annual growth rate (CAGR) of 31.4%. The growth in the forecast period can be attributed to agile and adaptive business models, rise of smart buildings and facilities, enhanced focus on health and safety, energy efficiency and sustainability initiatives, evolving customer expectations. Major trends in the forecast period include predictive maintenance for asset optimization, cross-platform integration and interoperability, edge computing for real-time processing, cloud-native and hybrid cloud solutions, cybersecurity and data privacy measures, blockchain for secure transactions.

The increasing adoption of 5G networks across the world is expected to propel the growth of the connected enterprise market going forward. 5G is the 5th generation mobile network for the higher speed and responsiveness of wireless networks. With 5G network speed, bandwidth, and lower latency, enterprises can have a better-connected experience and offer customers and associates expanded capabilities and continue to enhance the customer experience. For instance, according to the GSM Association, a UK-based industry organisation that represents the interests of mobile network operators worldwide, in North America, about 13% of connections were 5G in 2021 and will hit 63% by 2025. Therefore, increasing the adoption of 5G networks drives the connected enterprise market growth.

An increasing number of IoT devices is expected to boost the growth of the connected enterprise market going forward. IoT devices refer to nonstandard computing devices that can connect to a network wirelessly and provide data. IoT devices play an important role in the connected enterprise as they enable businesses to collect and analyze data from a variety of sources, which can then be used to increase efficiency and reduce costs. For instance, in September 2021, according to the report published by IoT Analytics, a German-based market insights, and strategic business intelligence company, the global IoT connection count climbed by 8% to 12.2 billion active endpoints, a notably slower rate than in previous years. It is anticipated that by 2025, there will be more than 30 billion IoT connections, or approximately four IoT devices per person. Therefore, the increasing number of IoT devices is driving the growth of the connected enterprise market.


The development of open communication platforms is a key trend gaining popularity in the connected enterprise market. Major companies in the connected enterprises market are focusing on developing open platforms for better communication channels and the secure exchange of data. For instance, in March 2023, the Wipro Limited, a India-based information technology (IT) corporation, launched 5G Def-I platform. The 5G Def-i platform's distinguishing features include proprietary Wipro frameworks such as Data Discovery Platform, Multi-Domain Orchestrator, and Cloud Native NFs runtime platform, as well as assets from an ecosystem of communication service providers, network equipment, and software vendors. The 5G Def-i platform is designed to enable organizations to effortlessly adapt their infrastructure, networks, and services.

Major companies operating in connected enterprise market developing technology advancements like AI-connected enterprise. AI-connected enterprise refers to the business ecosystem in which every area of business is digitalized and linked via integrated technology with artificial intelligence. For instance, in May 2023, Grammarly, a US-based software company, launched AI-connected enterprise of the future. With the addition of new AI tools to Grammarly Business, businesses will be able to better access and use information across their organizations, raise team skills and productivity, and create content with greater speed, relevancy, and comprehension.

In October 2023, Trane Technologies, an Ireland-based climate innovator which is part of connected enterprise, acquired Nuvolo for undisclosed amount. The acquisition will combine the companies' complementary capabilities, technology, offers, and client bases across major shared verticals such as healthcare, life sciences, retail, public sector, education, and others. Nuvolo, a US-based provider of connected enterprise solutions.

Major companies operating in the in the connected enterprise market report are 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, TDK Corporation, Tech Mahindra Limited, Vodafone Group Plc, SAP SE.

North America was the largest region in the connected enterprise market in 2023. 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

The countries covered in the connected enterprise market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Canada, Spain.

The connected enterprises market includes revenues earned by entities through the design of a one-team approach that eliminates reliance on any one person or organization and encourages cross-functional cooperation. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified)).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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