System Integration Market to Surge Owing to Rising Investment in IT Infrastructure
Market Research, System Integration Market
System integration allows end users to build computing systems by working out a suitable combination of software products and hardware from various vendors. By the implementation of system integration, a company may achieve lower expenditure and components pertaining to software that are pre-configured. These software components assist companies in acquiring their major business goals.Conventionally, system integrators have extensively supported the IT industry as technical specialists to channel the gap between software and hardware. A lot of computing devices and systems in IT utilize various coding standards, numerous communication protocols and a variety of databases. This results in decentralized, multiple, heterogeneous, complex, and distinctive infrastructure of these systems around the globe. The global system integration market was estimated at US$191.36 billion in 2013, is expanding at a CAGR of 10.9% during the forecast period from 2014 to 2020, and is predicted to reach US$377.59 billion by 2020.
System Integration Market: Key Application Areas, Drivers and Restraints
The key application areas of system integration include marine, defense, telecommunication and IT, oil & gas, aviation, banking, and healthcare. In 2013, financial services, banking, and insurance (BFSI) was the largest revenue-generating application of system integration, which represented a share of 17.5% of the overall system integration market. Nowadays, local firms are aspiring to go global, and global firms are aiming for a deeper penetration into the disparate regional markets. In an era of increasing operational cost, numerous small, large, and medium enterprises are inclined towards system integration services, as they intend to decrease total operational cost.
The global market for system integration is anticipated to be propelled by rising investment in information technology (IT) infrastructure, which in turn will boost the demand for integrated systems, developing technologies, namely big data analytics and cloud, as well as increase investment in automation solutions. In spite of these driving forces, high implementation time and cost and the IT domain’s reduced integration standards are some factors that could restrain market growth of system integration services.
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, System Integration Market