Connected Enterprise Market Size - By Solution (Manufacturing Execution System, Customer Experience Management, Business Analytics, Application Value Management, Remote Monitoring), Platform, End-User Industry & Global Forecast, 2023 - 2032

Connected Enterprise Market Size - By Solution (Manufacturing Execution System, Customer Experience Management, Business Analytics, Application Value Management, Remote Monitoring), Platform, End-User Industry & Global Forecast, 2023 - 2032

Connected enterprise market size is slated to expand at over 28.9% CAGR from 2023 to 2032, driven by the widespread adoption of Internet of Things (IoT) technology to enable the interconnectedness of devices and systems for facilitating data-driven insights and process automation. The increasing need for real-time data analysis and decision-making is encouraging organizations to invest in connected solutions to gain competitive advantages. For instance, in July 2023, Verizon Business unveiled its global IoT orchestration platform for offering businesses the capability to deploy and centrally oversee devices across international boundaries.

Improved operational efficiency, cost reduction, and resource optimization will further incentivize businesses to embrace connectivity. The growing demand for seamless communication and collaboration across interconnected devices, employees, and partners enhances productivity and innovation will also fuel the industry growth.

The connected enterprise market is segregated based on platform, solution, end-user industry, and region.

Based on solution, the market value from the remote monitoring segment is estimated to expand at rapid pace by 2032, driven by the increasing demand for real-time data insights and cost-effective asset management. The enhanced operational efficiency offered through IoT and sensor-based solutions will drive the segment growth.

Based on platform, the connected enterprise industry share from the connectivity management segment is projected to record robust growth during the forecast period. This can be attributed to the increasing adoption of IoT platforms. The incessant need for efficient device connectivity is leading to the rising demand for streamlined management of interconnected assets and systems.

The healthcare end-user industry segment is expected to accumulate sizeable share of the connected enterprise market by 2032, driven by the surging demand for remote patient monitoring. The growing need for enhanced data-driven healthcare solutions and increasing adoption of telemedicine technologies will also push the product demand in the healthcare industry.

Regionally, the Europe connected enterprise industry is anticipated to reflect significant CAGR through 2032, driven by the robust adoption of Industry 4.0 along with the increasing integration of IoT. The strong government support for digital transformation and the pursuit of operational efficiency and innovation in various industries will also outline the regional market growth.