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.
The rising demand for internet connectivity has led to an increased requirement of hardware and software solutions in the IT and telecom industry, consequently leading to the expansion of system integration market. The emergence of advanced technology in communication services and a paradigm shift of the customer base from wired to wireless services has massively propelled system integration market from the IT & telecom sector. In this regard, it would be prudent to mention that China has a pivotal role to play in augmenting the regional system integration industry size from IT applications, primarily on account of the evolution of 5G networks and a rise in business consultancy services. China in fact, has even launched a five-year plan to provide internet connectivity to rural areas.
The rising proliferation of the internet and its effect in daily activities, such as payment and retail, are increasing the demand for the system integration market. Furthermore, the advent of outsourcing of the various business and knowledge processes are leading to the high focus on these technologies. Advanced technologies, such as adopting mobile channels to reach their customers, are driving the industry as businesses are increasingly adopting mobile channels to reach their customers.
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With the need to create a smooth coordinated system and enhance the efficiency of their existing system integrators, numerous business organizations have been reaching out to the system integration industry players. As these organizations are readily impacted by altering technological trends such as IoT and big data management software, the business procedures need to be highly optimized and integrated. Consequentially, owing to the aforementioned factors, the system integration market is forecast to accrue a humongous remuneration of around USD 450 billion by 2024, as per reliable estimates.
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.
The U.S. system integration market is anticipated to dominate during the forecast timeframe owing to the high proliferation of advanced technologies such as data centers and cloud-based infrastructure. Favorable conditions in the U.S., such as a highly developed broadband infrastructure and the high penetration of automation and virtualization, are contributing to the large market size of the region.
In the present industrial scenario where companies require their systems to work in meticulous synchronization, the role of system integration market is considered highly significant. In an effort to stay abreast of all the developments that have the potential to impact the company’s remuneration, most growing organizations are seeking the deployment of an integrated system that can standardize business procedures and reduce the complexity of processes.