System Integration Market size worth over $575 Bn by 2027
Published Date: January 28, 2021 Authors: Preeti Wadhwani, Saloni Gankar
System Integration Market size is likely to cross USD 575 billion by 2027, according to a new research report by Global Market Insights, Inc.
The rise in demand for unified & automation approach, need for virtualization of data, and rapid adoption of cloud computing are driving the system integration market growth. Enterprises with offices at various locations across the globe are collaborating and integrating multiple systems on a single platform. This helps them to better understand the business processes in real-time. It reduces complexity of hardware, operational cost, and enhances productivity. The aggregation of subsystems simplifies the data migration process and refines workflows & processes while adopting new technology.
Increasing market demand for consulting services helps enterprise to reduce their operational cost and enhance workflows and efficiency
Consulting services enable companies to construct a workflow process and facilitate the provisioning of commercial and residential building assets efficiently. System integration services enable businesses to design IT infrastructures customized to their specific business requirements. System integration & consulting enables the transition from legacy or existing infrastructures into high-tech facilities. It includes consulting on migration to cloud-based or software-defined facilities. Consulting services also deliver hybrid infrastructure to client enterprises as an integrated aspect of the IT strategy. The service providers offer technical expertise to enhance the scalability and flexibility of the existing hardware.
Energy consulting services enable optimization of energy consumption to effectively use and improve management of energy, capacity, and costs. System integration services include advice to reduce costs & energy consumption, water usage, and greenhouse gas emissions.
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Growing demand to reduce data repetition and redundancy is driving the application integration market
In 2020, application system integration market held more than 40% share due to increasing need to reduce data repetition and redundancy while accomplishing numerous tasks. Application integration enables sharing and consolidation of resources, data, and processes to enhance workflows and improve business efficiency. System integration helps user enterprises to transfer resources from one application to another which results in eliminating data silos and fastens time-to-market for business processes. System integration helps companies to earn better return on investment by removing manual processes.
Browse key industry insights spread across 300 pages with 360 market data tables and 28 figures & charts from the report, “System Integration Market Size By Service (Infrastructure Integration [Building Management System (BMS), Integrated Communication, Network Integration, Cloud Integration], Application Integration [Application Lifecycle Management (ALM), Data Integration, Integrated Security Software, Integrated Social Software], Consulting), By End-Use (IT & Telecom, BFSI, Healthcare, Retail, Manufacturing, Energy & Utility), Industry Analysis Report, Regional Outlook, Application Potential, Price Trend, Competitive Market Share & Forecast, 2021 – 2027” in detail along with the table of contents:
Rapid adoption of cloud computing by the BFSI sector is driving the system integration market revenue
The BFSI sector is estimated to grow at over 8% CAGR through 2027. Financial institutions and banks face several challenges of processing and storing massive data, resulting in increasing market demand for application and infrastructure integration. The need for continuous and reliable services and enormous cooling capabilities for the servers will augment the market revenue. The sector is also increasing the adoption of cloud services to reduce operational and capital expenses, resulting in proliferation of system integration in the BFSI sector.
Growing usage of data virtualization in Asia Pacific
Asia Pacific accounted for above 20% of system integration market revenue in 2020 driven by increasing need for data virtualization to optimize the use of computer hardware. The growing industrialization and the proliferating IT sector are expected to drive the industry statistics. Supportive government initiatives in the region to increase the number of SMEs are supporting system integration demand. For instance, in February 2020, Singapore government announced USD 5.60 billion to support SMEs and boost the business activities in the country.
Industry players are adopting partnership and collaboration strategy to remain competitive in the market
The industry is highly competitive in nature owing to the presence of both established market players and start-ups. Companies are focusing on strategic alliances to expand their product portfolio and increase their market presence. For instance, in January 2021, Accenture PLC, a key market player acquired Wolox, a software development firm in Argentina, to collaboratively provide digital solutions and system integration across Latin America.
Major market players operating in the system integration market include Unisys Corporation, Tech Mahindra, Oracle Corporation, NTT DATA Corporation, Infosys Limited, IBM Corporation, Huawei Technologies Co., Ltd., Hitachi Ltd, Hewlett-Packard Enterprise Company, HCL Technologies Limited, Fujitsu Ltd, Dell Technologies Inc., Cisco Systems Inc., CGI Inc., Capgemini, AGC Networks Ltd., and Accenture PLC.