Integrated systems market size was earlier USD 9.5 billion in the year 2014 and is expected to touch USD 30 billion in 2022 with a CAGR of 15% according to study done by Global Market Insights. Thriving business demand and accelerated challenges in IT sector is projected to upsurge the demand of this market. The dynamic nature of IT industry is full of advancements and innovations. Transformation from mainframe servers to internet computing has changed the way with which customers build, buy, use, and deliver technology. IT & telecommunication integrated systems market report touched USD 2 billion in the year 2014 and is estimated to cross USD 7 billion till 2022.
These machines are administered by a single console which simplify and automate the workload resulting in reduced operational expenses. Network equipment including hardware components and storage designed are optimized to operate together to minimize IT expenses. Large number of enterprises implementing IT infrastructure over public, private and hybrid clouds along with the necessity for efficient and effective IT infrastructure management will propel the growth for this sector.
Shift from mainframes to internet computing trends and changing end-user consumption patterns are some of the upcoming opportunities for this industry. High deployment costs coupled with increasing operating expenses for system maintenance are some of the factors expected to hinder the integrated systems market growth.
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Consulting services segment is expected to exceed USD 4 billion by 2022 and accounted for over 15% of the integrated systems market share in 2014. Consulting services provide customers with cost efficient solutions and capabilities where in the resources are allotted efficiently according to new standards and policies. Installation and integration segment was evaluated to be USD 6 billion in 2014 owing to the rising demand across small, medium & large-scale industries coupled with the transformation of data centers across enterprises.
Integrated Systems Market in BFSI sector was valued to be over USD 3 billion in 2014 and anticipated to surpass USD 8 billion by 2022 owing to the high penetration over the years. It accounted for more than 25% of the industry in 2014. Retail held over 15% of the overall share in 2014 which is expected to exceed USD 6 billion by 2022 due to the cost benefits provided by store management systems.
North America integrated systems market is expected to follow and the U.S industry held approximately 35% of the global revenue share in 2014. U.S is anticipated to continue its dominance over the forecast period attributed to technological innovations and rising penetration of these systems.
Top integrated systems market players like Oracle Corporation, Hewlett-Packard, and IBM emphasize more on collaborations as it accelerates technology exchange, marketing, and development of product. These companies have acquired 50% market share in 2014. Other prominent companies include Accenture, Deloitte, Fujitsu, Cisco, Hitachi and Huawei.
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