Connected Enterprise Market Growing at a CAGR of 31.3% During 2016 to 2021

USA - English

• India - English

PUNE, India, January 25, 2017 /PRNewswire/ --

The connected enterprise market size is estimated 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% driven by evolution of technologies such as big data, cloud, and mobile devices in enterprises across the globe while North America is expected to witness a high growth.  

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The growth of the connected enterprise market can be attributed to the increasing need for automation and cloud computing across industries to help an enterprise run at its best capacity and save time, energy, and funds. The growing number of smart devices is generating voluminous data for better processes and operations to help gather various process insights. Operations improvement measures are also driving the growth of the market in the region; high technological spending in North America and Europe are also contributing to the growth of the connected enterprise market in these regions. However, the lack of uniform Internet of Things (IoT) standards is restraining the growth of the connected enterprise market.

The contribution of IoT in manufacturing operations has helped to increase production and induce time and cost efficiency. It brings the opportunity for the manufacturing companies to make a change in operational innovation and operational excellence. Energy companies will be more efficient, more flexible, and will be able to predict the asset performance. Owing to the importance of safety in energy enterprises, IoT can be helpful in avoiding mishaps such as fire or leakage of fuels.

The various key connected enterprise vendors profiled in this report such as Rockwell Automation, Inc. (U.S.), Cisco Systems (California, U.S.), IBM Corporation (New York, U.S.), Microsoft Corporation (Washington, U.S.), Bosch (Stuttgart, Germany), General Electric(New York, U.S.), PTC(Massachusetts, U.S.), Honeywell International (New Jersey, U.S.), Accelerite (California, U.S.) and Verizon Communications, Inc. (New Jersey, U.S.). Order a copy of Connected Enterprise Market by Platform (Device, Connectivity Management & Application Enablement), Solution, Service (Professional and Managed Services), Vertical, and Region - Global Forecast to 2021 research report at http://www.reportsnreports.com/purchase.aspx?name=819700 .

North America is expected to account for the largest market share in 2016. The drivers responsible for the growth of the connected enterprise market in North America are stable economy, technological advancements, and newer infrastructure demands. With the increasing use of connected enterprise solutions in government &other industry verticals such as retail, automotive, financial, healthcare, utilities, and manufacturing in the U.S., the connected enterprise market is set to grow at a rapid pace in the region.

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