Yahoo Finance Connected Enterprise Market to cross $ 3.5 Tn by 2032, Says Global Market Insights Inc.
Major connected enterprise market participants include Cisco Systems, Siemens, IBM, Microsoft, Amazon Web Services (AWS), Schneider Electric, Honeywell, General Electric (GE), and Bosch
Selbyville, Delaware, April 29, 2024 (GLOBE NEWSWIRE) --
The connected enterprise market valuation is predicted to surpass USD 3.5 trillion by 2032, as reported in a research study by Global Market Insights Inc.
According to Techopedia, in March 2024, 12% worked fully remotely, 61% onsite, and 26% in hybrid setups. As organizations embrace flexible work arrangements, there's a heightened demand for interconnected technologies that enable employees to collaborate effectively regardless of their location. Connected enterprise solutions facilitate seamless communication, file sharing, and project management, empowering remote teams to stay productive and connected. This trend is further accelerated by advancements in communication technologies and the proliferation of cloud-based collaboration tools, fostering the adoption of interconnected ecosystems within businesses.
The demand for real-time data analytics is a key driver for the connected enterprise market demand. As businesses strive for agility and competitiveness, there's an increasing need to harness data insights instantly. Real-time analytics enable organizations to make informed decisions promptly, optimize operations, and seize emerging opportunities swiftly. This demand is led by the ever-growing volume of data generated by connected devices and systems, driving the adoption of advanced analytics solutions to extract actionable insights in real-time.
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The connected enterprise market from business analytics segment will showcase rapid growth until 2032, driven by businesses' relentless pursuit of a competitive edge in today's ever-evolving landscape. The integration of advanced analytics solutions within the Connected Enterprise ecosystem is experiencing an unprecedented surge in demand. With the utilization of sophisticated analytics tools, companies can unlock invaluable insights into consumer behavior, market trends, and operational performance. This empowers strategic decision-making and significantly enhances overall efficiency, positioning businesses for sustained success amidst dynamic market conditions.
The retail segment will experience consistent growth through 2032, driven by the pivotal role the retail sector plays in driving the adoption of connected enterprise market grrowth. In an era characterized by rapidly evolving consumer preferences and heightened competition, retailers are leveraging connected technologies to deliver personalized experiences, optimize supply chain operations, and improve inventory management. From smart shelves and interactive displays to RFID technology and mobile payment systems, retailers are embracing innovative solutions to enhance the shopping experience and drive customer loyalty.
Asia Pacific connected enterprise market will expand rapidly over 2024-2032, fueled by rapid urbanization, technological advancements, and a burgeoning population of digitally-savvy consumers. Countries such as China, India, and Japan are witnessing significant investments in IoT infrastructure, digital transformation initiatives, and smart city projects, driving the adoption of Connected Enterprise solutions across various industries. Moreover, the increasing penetration of smartphones and internet connectivity is creating a fertile ground for the proliferation of connected devices and services, further propelling market growth in the region.
Major companies in the connected enterprise market include Cisco Systems, Siemens, IBM, Microsoft, Amazon Web Services (AWS), Schneider Electric, Honeywell, General Electric (GE), and Bosch. One common approach is product diversification, where companies expand their offerings to cater to evolving customer needs. This might involve developing new IoT devices, software solutions, or services tailored to specific industries or applications. Another strategy is strategic partnerships and alliances, where companies collaborate with complementary businesses to enhance their value proposition or access new markets. Additionally, many firms invest heavily in R&D to innovate and differentiate their products, aiming to maintain a competitive edge. Moreover, acquisitions and mergers are prevalent strategies to expand market reach, acquire new technologies, or consolidate market share.
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In April 2022, Cisco and General Motors partnered to modernize and automate vehicle development data processes, enhancing performance testing and reducing time-to-market for commercial automobiles. Leveraging Cisco's industrial wireless networking, GM engineers can swiftly analyze crucial vehicle data, facilitating faster, data-driven decision-making.
Partial chapters of report table of contents (TOC):
Chapter 1 Methodology & Scope
1.1 Market scope & definition
1.2 Base estimates & calculations
1.3 Forecast calculation.
1.4 Data Sources
1.4.1 Primary
1.4.2 Secondary
1.4.2.1 Paid sources
1.4.2.2 Public sources
Chapter 2 Executive Summary
2.1 Connected enterprise market 3600 synopsis, 2018 -2032
2.2 Business trends
2.2.1 Total Addressable Market (TAM), 2024-2032
2.3 Regional trends
2.4 Platform trends
2.5 Solution trends
2.6 End-user industry trends
Chapter 3 Connected Enterprise Market Insights
3.1 Industry ecosystem analysis
3.2 Supplier Landscape
3.3 Profit margin analysis
3.4 Technology & innovation landscape
3.5 Patent analysis
3.6 Key news and initiatives
3.6.1 Acquisitions & mergers
3.6.2 Partnerships & collaboration
3.6.3 Product launches
3.7 Regulatory landscape
3.8 Impact forces
3.8.1 Growth drivers
3.8.1.1 Rising advancements in IoT solutions
3.8.1.2 Increasing adoption of cloud technology
3.8.1.3 Growing focus on data-driven decision-making
3.8.1.4 Expansion of remote work environments
3.8.2 Industry pitfalls & challenges
3.8.2.1 Cybersecurity threats and privacy concerns
3.9 Growth potential analysis
3.10 Porter’s analysis
3.11 PESTEL analysis
Chapter 4 Competitive Landscape, 2023
4.1 Introduction
4.2 Company market share, 2023
4.3 Competitive analysis of major market players, 2023
4.3.1 Microsoft Corporation
4.3.2 IBM Corporation
4.3.3 General Electric Company
4.3.4 Rockwell Automation, Inc
4.3.5 Honeywell International
4.3.6 Robert Bosch
4.3.7 Verizon Communications
4.4 Competitive positioning matrix, 2023
4.5 Strategic outlook matrix, 2023
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About Global Market Insights Inc.
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
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