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AI is revolutionizing the connected enterprise industry by enhancing data analytics and automation. AI-driven insights enable better decision-making and predictive maintenance, optimizing operations and resource utilization. Machine learning algorithms are improving cybersecurity by identifying threats in real time. AI-powered chatbots and virtual assistants are enhancing customer support & engagement. AI-driven personalization is boosting customer experiences. As businesses increasingly integrate AI into their operations, it is reshaping the connected enterprises landscape, driving efficiency, innovation, and competitiveness in various industries.
Digital twin technology is gaining traction in the market as it allows businesses to create virtual replicas of physical assets, processes, and systems. Digital twins enable real-time monitoring, simulation, and analysis, providing valuable insights for better decision-making, predictive maintenance, and optimization of operations. They are used in various sectors such as manufacturing, healthcare, and urban planning. The adoption of digital twin technology reflects the growing need for data-driven, efficient, and cost-effective solutions in connected enterprises.
Cisco Systems, Inc., General Electric Company, IBM Corporation, Verizon Communications, Wipro Limited, SAP SE, Honeywell International, Robert Bosch, and Schneider Electric are some of the major connected enterprise companies worldwide.
North America recorded over 37% of the market share in 2023, owing to the rapid technological advancements in the region.
The manufacturing execution system (MES) solution segment held over 29% of the market share in 2023, on account of the growing emphasis on improving operational efficiency among organizations
The market size of connected enterprise reached USD 358.6 billion in 2023 and is set to witness 29% CAGR from 2024 to 2032, due to increasing investments in IoT solutions and the expansion of remote work environments worldwide.