System Integration Market Is Expected To Reach $393.10 Billion By 2020 : Radiant Insights,Inc
San Francisco, March 14, 2016 (GLOBE NEWSWIRE) -- The global system integration market is expected to reach USD 393.10 billion by 2020. Surge in system integration solutions' spending by companies has enhanced the management of Information Technology (IT) infrastructure, data integrity, and has substantially eradicated redundancies. Need for eliminating multiplicity, heterogeneity, and varying distinctiveness of key applications and infrastructures is expected to drive the system integration market over the forecast period.
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The advent of cloud computing coupled with advancements in virtual technologies is expected to encourage system integration solution adoption. Developments in technologies such as Building Energy Management Systems (BEMS), clinical integration, Cloud Service Brokerage (CSB), and Cyber Physical System (CPS) integration are expected to provide new avenues for market growth. The system integration market has high growth potential over the next six years owing to the perennial need for open and distributed architectures. High implementation cost may deter SMEs and start-ups from implementing system management solutions.
Further key findings from the study suggest:
- Infrastructure integration accounted for over 35% of the overall market share in 2013, closely followed by consulting. Cloud system integration service is expected to gain prominence owing to several inherent characteristics such as variable cost, dynamic scaling, and utility price. In addition, it is a viable option for organizations to address the issues of volatile demand and low available capital, as several users can access a single hardware, thereby saving the cost incurred for deploying additional hardware. Business process integration is expected to be a key market in the consulting application sector due to its efficiency and automated governance.
- Banking & finance contributed over 15% to the global market revenue in 2013. System integration enables smooth, quick and safe banking operations by building a responsive IT infrastructure that addresses critical requirements of the banking domain. Healthcare accounted for considerable market share in 2013.
- North America emerged as a key regional market in 2013 as a result of significant investments made by governments in implementing system integration solutions across several departments. Asia Pacific has significant growth potential over the forecast period owing to growing market participants' presence in Japan, China, and India.
- Key players in the system integration market players have focused on lucrative sectors such as banking and hospitality in order to penetrate the market. For instance, Starwood Hotels & Resorts Worldwide, Inc. catered to the service of Oracle's data integration solutions in order to improve their efficiency. Infosys offers integration solutions to the banking sector for enabling business transformation and implementation & training support.
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System Integration Service Outlook (USD Billion, 2012 - 2020)
- Infrastructure Integration
- Application Integration
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System Integration Application Outlook (USD Billion, 2012 - 2020)
- Banking & Finance
- Defense & Security
- Telecommunications & IT
- Oil & Gas
System Integration Regional Outlook (USD Billion, 2012 - 2020)
- North America
- Asia Pacific
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Radiant Insights is a market research and consulting company offering syndicated research studies, customized reports, and consulting services. Our market research studies are designed to facilitate strategic decision making, on the basis of extensive and in-depth quantitative information, supported by extensive analysis and industry insights. Using a patented and robust research methodology, we publish exhaustive research reports covering a host of industries such as Technology, Chemicals, Materials, and Energy.Radiant Insights has a strong base of analysts, consultants and domain experts, with global experience helping us deliver excellence in all research projects we undertake.
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