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A connected enterprise is a business system where every part of the business has been digitalized. It makes use of the internet of things (IoT) to obtain supplementary insights and fuel efficiency. Moreover, utilizing a connected enterprise approach as part of a digital transformation aids a company to unite technical and human processes while encouraging a better degree of cooperation.
Moreover, the rising need for cloud computing in all sectors such as healthcare, automotive, etc. is boosting the growth of the market. Also, the escalating demand for automation of various operations in healthcare, banking, and other sectors and the growing adoption of connected enterprises along with advanced technology by SMEs is expected to offer lucrative opportunities for market growth in the coming years. However, the high cost in deploying the Connected Enterprise is limiting the market growth.
The spread of COVID-19 ushered in a technological evolution in the healthcare industry. The positive results of the previously implemented automation solutions are expected to encourage businesses to shift to fully automated environments. For instance,
Further, the positive results from the adopted automation solutions are expected to encourage businesses to shift towards fully automated environments, which is expected to boost the demand for the connected enterprise market.
The report will cover the following key insights:
Based on end-user, the market is segmented into manufacturing, retail & e-commerce, IT & telecommunication, BFSI, energy and utility, healthcare, and others. Retail & e-commerce accounted for the highest market share in 2021. As retail sales increase, the integration of IoT sensors into various consumer devices enables retailers to better understand and monitor consumer behavior, collect data and improve their consumer experience. Additionally, retailers are increasingly looking for new ways to communicate with their customers to improve their shopping experience. Thus, the aforementioned factors are boosting the segment growth.
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North America holds the largest market share and is expected to dominate the connected enterprise market in the forecast period owing to the technological advances and the proliferation of the Internet of Things (IoT) in countries such as the United States and Canada.
The market shares of connected enterprise market by region are as follows:
Further, the Asia Pacific is expected to grow at the highest pace during the forecast period as the telecommunication and healthcare industries in the region have initiated to implement internet-enabled devices and solutions to enhance the quality of service they offer to their respective customer bases.
The report will include the profiles of key players such as Cisco Systems Inc., Accelerite, General Electric Company, Rockwell Automation Inc., Harman International, IBM Corporation, Jacobs Engineering Group Inc., MachineShop Inc., Microsoft Corporation, Honeywell International Inc., Verizon Communications Inc., Wipro Limited, and others.
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