System Integration Market To Observe Over 6% Growth To 2024
SELBYVILLE, Del., May 3, 2018 /PRNewswire-iReach/ -- According to a latest research report by Global Market Insights, Inc. " System Integration Market is predicted to be valued USD 450 billion by 2024." High penetration of these solutions is fueled by the need of organizations to improve the efficiency and productivity of the various hardware and software systems that are functional within the organization. The increase in outsourcing activities, primarily by companies residing in the U.S. and Western Europe, to regions having low cost labor and raw materials, for instance India, is promoting the growth of the system integration market. Government bodies in these regions are further improving the existing broadband infrastructure providing a strong platform for the growth of the system integration market in the region.
In the recent years, the advent of Industry 4.0 and the rising prominence of IoT have mandated the interconnection of various disjointed hardware and software solutions throughout the organization. The system integration market demand is further amplified in larger companies or organizations having operations dispersed over a large geographical area to synchronize their various applications to function cohesively in a converged environment. This is done to reduce issues such as data duplication and redundancies. Additionally, the implementation of these solutions allows the organization to reduce the overall costs sustained by having multiple hardware and software applications from multiple vendors such as resource and space consumption and the need for running constant separate security checks.
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The large-scale technological advancements that affect businesses across the world, such as the increase in consumer and organizational data and the increasing automation in the various business processes, are causing companies to seek system integration market services. The rapid transition toward cloud solutions owing to their reduced costs, increased collaboration efficiency, and high flexibility they offer to its users contributes to the market growth during the forecast timeframe.
System integration market by service indicates that the consulting segment is anticipated to witness a higher growth during the forecast timeframe. These services allow business owners to understand their requirements pertaining to the architecture and business process, help in staying ahead amidst the changing technological landscape, in testing and deployment, and in developing a business continuity and disaster recovery plan. These are essential in streamlining the existing business processes for the maximum efficiency.
End-use segmentation of the system integration market indicates that the BFSI and the IT and telecom sectors are expected to dominate in terms of market size during the forecast timeframe. This is due to the increasing proliferation of cloud technologies, Bring-Your-Own-Device (BYOD) trends, and the influx of consumer data, such as financial and personal consumer information. The government and utilities sector are anticipated to exhibit growth during the forecast timeframe. This demand is due to the rising government focus, primarily in Germany and UK, on the deployment of smart grids and the movement towards sustainable, non-conventional power solutions causing the adoption of system integration services such as building management systems, data integration, and security management systems by authorized service providers.
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The rapid industrial growth in the industrial and manufacturing sector and the high growth of the number of SMEs, primarily in parts of South East Asia, is promoting the regional system integration market. Government initiatives in the form of subsidies, financial support, and expertise to regional players allow them to establish themselves and gain traction in the global marketplace. For instance, under the Make in India strategy, the government is providing a 25% grant to SMEs for the expenditure incurred on audit subject to a maximum of USD 1,500, which is anticipated to fuel the system integration market in the coming years.
Buy this industry insights spread across 250 pages with 259 market data tables & 41 figures & charts from the report, "System Integration Market Size By Service (Infrastructure Integration [Building Management Systems (BMS), Integrated Communication, Data Centre Infrastructure Management (DCIM), 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 (U.S., Canada, UK, Germany, France, Italy, Russia, Poland, China, India, Japan, South Korea, Australia, Singapore, Malaysia, Thailand, Philippines, Brazil, Mexico, Argentina, Saudi Arabia, UAE, South Africa), Application Potential, Price Trend, Competitive Market Share & Forecast, 2017 – 2024" in detail along with the table of contents:
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Chapter 5. System Integration Market, By End-use
5.1. System integration market share by end-use, 2016 & 2024
5.2. IT & telecom
5.2.1. Market estimates and forecasts, 2013 – 2024
5.2.2. Market estimates and forecasts, by region, 2013 – 2024
5.3. BFSI
5.3.1. Market estimates and forecasts, 2013 – 2024
5.3.2. Market estimates and forecasts, by region, 2013 – 2024
5.4. Healthcare
5.4.1. Market estimates and forecasts, 2013 – 2024
5.4.2. Market estimates and forecasts, by region, 2013 – 2024
5.5. Retail
5.5.1. Market estimates and forecasts, 2013 – 2024
5.5.2. Market estimates and forecasts, by region, 2013 – 2024
5.6. Manufacturing
5.6.1. Market estimates and forecasts, 2013 – 2024
5.6.2. Market estimates and forecasts, by region, 2013 – 2024
5.7. Energy & utilities
5.7.1. Market estimates and forecasts, 2013 – 2024
5.7.2. Market estimates and forecasts, by region, 2013 – 2024
5.8. Others
5.8.1. Market estimates and forecasts, 2013 – 2024
5.8.2. Market estimates and forecasts, by region, 2013 – 2024
Browse Full Table of Contents (ToC) @ https://www.gminsights.com/toc/detail/system-integration-market
About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
Media Contact: Arun Hegde, Global Market Insights, Inc., +13028467766, [email protected]
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