According to a new market research report "Connected Enterprise Market by Platform (Device, Connectivity Management & Application Enablement), Solution, Service (Professional and Managed Services), Vertical, and Region - Global Forecast to 2021", published by MarketsandMarkets, the market size is expected to grow from USD 102.60 Billion in 2016 to USD 400.87 Billion by 2021, at a Compound Annual Growth Rate (CAGR) of 31.3% during the forecast period. The major forces driving this market include the increasing need for automation and cloud computing across industries and realized potential of utilizing voluminous data for better processes and operations by enterprises.
Security solution is expected to play a key role in the connected enterprise market and grow at the highest CAGR from 2016 to 2021
With numerous devices spread across an enterprise, various advanced threats have also evolved and it has become crucial to maintain the safety and confidentiality of the enterprise data. With the large number of devices connected in a connected system, tampering with even a single device in the network can turn out to be a potential threat for the enterprise. Taking this aspect of safety over the network into consideration, there are several market players offering security services for enterprises. Connected devices need a dedicated security solution as this need cannot be met by PC security solutions for Internet of Things (IoT) embedded devices.
Integration and deployment services segment is expected to grow at the highest CAGR in the connected enterprise market and the current trend is expected to continue during the forecast period
Integration and deployment services comprise the set of functions that are required to transform an enterprise into a connected enterprise. These services refer to the actual implementation of the IoT devices over the equipment and assets which are to be tracked. In order to implement a connected system over an enterprise, it is essential to ensure that all the functions, processes, and operations are aligned accordingly.
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Device management platform is expected to hold the largest market share in the connected enterprise market.
The connected enterprise market involves a large number of device management platforms that are deployed by different vendors of the industry. These platforms helps IoT solutions organize, configure, and customize these devices as per specific business requirements of the enterprise. It has various categories of platforms within it, which comprises the IoT cloud platforms that store and help generate valuable data to monitor trends and improve the quality of the processes and the management platforms, which facilitate real-time devices to log instant feedback on the performance of the platform to the support teams and engage the customers.
North America is expected to have the largest market size and Asia-Pacific (APAC) is expected to grow at the highest CAGR during the forecast period in the connected enterprise market
The region-specific market analysis includes industry trends, market potential, and market forecast on the basis of solutions, services, platforms, verticals, and regions. The market expects a rapid growth in various emerging regions such as APAC, Middle East and Africa (MEA), and Latin America. The North American region is expected to hold the largest market share during the forecast period.
Globally, the adoption of connected enterprises is increasing owing to the rising need for automation and cloud computing across industries. Rockwell Automation, Inc. (Wisconsin, U.S.), Cisco Systems, Inc. (California, U.S.), PTC, Inc. (Massachusetts, U.S.), Microsoft Corporation (Washington, U.S.), IBM Corporation (California, U.S.), Robert Bosch GmbH (Stuttgart, Germany), Honeywell International, Inc. (New Jersey, U.S.), and General Electric (New York, U.S.) are the key vendors offering connected enterprise solutions and services across the globe.
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