In today’s world of digital transformation and Internet of Things (IoT) smart manufacturing is widely adopted by means of connected devices to open new windows of visibility in business and operational processes. Connected enterprise is the convergence of plant-level and enterprise networks which helps to securely connect people, processes and technologies. This seamless connectivity by connected smart devices spurs new collaboration. In a connected enterprise business lines such as sales and customer support, supply chain, R&D, manufacturing, HR, Finance etc. are digitalized.
Connected enterprise help in potentially changing the way companies do business by exploring the power to connect traditional physical processes with cutting-edge IT to connect people, tools, processes, and platforms comprising infrastructure and applications to disrupt the business productivity with next-generation solutions. Due to this companies can use the power of data analytics to improve the efficiency of operations and cut down costs.
Connected Enterprise Market: Drivers, Restraints, Segmentation, Regional Overview, Key Agreements and Key Players
Factors such as increasing need for automation and cloud computing in enterprises, rising adoption smart devices generating huge amount of data, growing technological advancements and Internet of Things (IoT) in industry processes are driving the growth of connected enterprise market.
However, lack of uniform Internet of Things (IoT) standards and lack of professional expertise are restraining the growth of connected enterprise market.
The connected enterprise market can be segmented on the basis solution, component, application, end-user vertical, and region wise.On the basis of solution, it can be further segmented into:Manufacturing execution system, Customer experience management, Business analytics, Application value management, Remote monitoring, Segmentation on the basis of component for Connected Enterprise Market:On the basis of component, it can be further segmented into:Solution, Platform, Service, Segmentation on the basis of application for Connected Enterprise Market: On the basis of application, it is further segmented into:Connectivity Management, Application enablement and development, Device Management, Segmentation on the basis of end-user vertical for Connected Enterprise Market:Manufacturing, BFSI, IT & telecom, Retail, Healthcare, Food & beverage, Others, Segmentation on the basis of region for Connected Enterprise Market:North America, Latin America, Europe, Asia-Pacific, Middle East and Africa,
North America emerges as the leader and will expect to dominate the connected enterprise market due to technological advancements in countries such as USA and Canada, increased penetration of Internet of Things. High adaptability of industrial automation in Europe region is resulting in considerable growth of connected enterprise market in this region. The connected enterprise market in APAC region is expected to grow at a significant pace due to presence of manufacturing, automation and retail enterprises.
In February 2017, Tata Motors and Microsoft India today entered into a strategic agreement to provide connected and personalized driving experiences for Indian customers. This collaboration will allow Tata Motors to leverage Microsoft’s connected vehicle technologies that bring together artificial intelligence (AI), advanced machine learning, and the Internet of Things (IoT) capabilities on the global hyper-scale Azure cloud, which will help to create a highly personalized, smart and safer driving experience across the digital life of a vehicle owner.
Microsoft Corporation, IBM Corporation, General Electric, Cisco Systems, Inc., Rockwell Automation, Inc., Bosch, Honeywell International, PTC, Accelerite and Verizon Communications, Inc. are some of the key players in connected enterprise market.
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