System Integration Market to witness 6% CAGR, Global Analysis, Drivers, Restraint & Future Growth to 2024

Global System Integration Market segmentation by end-use indicates that the BFSI sector is anticipated to experience growth at a very rapid rate. Organizations operating in this sector are required to collect large amounts of consumer data of a very confidential nature. Moreover, the movement to the online platform and to mobile devices is providing impetus for the industry growth. The system integration market by service segment indicates that the infrastructure integration services dominates in terms of size. This is largely due to the high demand by organizations to improve the existing network infrastructure and provide a strong platform for the adoption of cloud computing and IoT in the business landscape. Additionally, government bodies are also investing heavily in providing broadband and network connectivity to consumers located in underserved and rural locations. System Integration Market is expected to reach a revenue of over USD 450 billion in 2024 owing to the emerging trends such as cloud computing and big data analytics. Companies operating in the retail and the BFSI sector are required to collect large amounts of confidential consumer and financial data causing them to adopt these services to sustain growth in the global marketplace. Organizations are rapidly modernizing their existing IT infrastructure to accommodate the rapid improvements occurring in the technological landscape. To access a sample copy or view the system integration market report in detail along with the table of contents, please click the link The increase in government initiatives, primarily in economies such as China, India, and Philippines, promoting the growth of SMEs is amplifying the demand of the system integration market. These services are essential as they provide substantial cost savings by decreasing the duplication of data and the need to test and perform security checks on the different hardware or software systems across an organization. The system integration market is anticipated to gain traction during the forecast timeframe owing to the increasing demand from organizations to increase the efficiency of their existing systems and create a smooth coordinated system is causing organizations to adopt these services. Systems that are not integrated also result in a significant increase in the cost and resource consumption, mandating the need for these services. Organizations situated across the world are influenced by technological trends, such as big data management software, hardware and software solutions, and mobility applications. As a result, there is a strong need to standardize business processes and reduce the complexity leading to the growth. The system integration market in the Asia Pacific region is expected to witness high growth during the forecast timeframe owing to the increase in the number of SMEs and the provision of low cost service offerings in the region. Countries such as Philippines and India are hubs of consulting and outsourcing activities. This comprise large pools of highly skilled workforce with low hourly wages, allowing foreign players to adopt these services. The system integration market comprises of players such as Dell Inc., Cisco Systems Inc., Fujitsu Ltd, MuleSoft, Teradata Corporation, VCE, Orion System Integrators, and IBM Corporation. A prominent strategy undertaken by companies operating in the system integration market is to continuously expand their product offerings. For instance, in May 2017, MuleSoft announced the provision of the Anypoint Platform in the UK government's G-Cloud 9 framework which eliminates the need of organizations to enter into procurement contracts with technology vendors.