Pune, India, Oct. 09, 2023 (GLOBE NEWSWIRE) -- Rising demand for cloud-computing software from public and private organizations will drive the global system integration market growth in the near future. Cloud-computing offers a range of advantages, which is fueling its adoption among companies and government organizations. According to the Queensland Government in Australia, cloud-computing can bring down costs for a business, since these systems eliminate the need to purchase expensive machines for data storage and analysis or to hire expert staff to handle these machines.
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Furthermore, these solutions are flexible in their working as they can be easily scaled up or down, depending on the business requirement at any given moment. These and many other advantages of cloud-computing technologies have escalated their demand worldwide.
For instance, Eurostat, the statistical office under the European Commission, estimates that in 2018, 26% of enterprises in the European Union used cloud-computing for email hosting and data storage. Thus, the system integration market size is set for a period of rapid expansion.
The above information is contained in a new Fortune Business Insights™ report, titled, “System Integration Market Size, Share & Industry Analysis, By Service Type (Infrastructure Integration, Application Integration, Business Consulting), By End-Use Industry (BFSI, Government, Healthcare, Manufacturing, IT & Telecom, Oil & Gas, Transportation & Logistics, Retail, Others) and Regional Forecast, 2023-2030.”
Notable Industry Development:
September 2019: IBM Corporation introduced its new enterprise platform called IBM z15. The product is designed for privacy management of customer data across multiple cloud platforms. Clients can access data using policy-based controls and can revoke access if and when the need arises.
Key Takeaways
- A microscopic analysis of the drivers, trends, and factors influencing the market in the given period;
- A clinical research into the different segments of the market;
- An in-depth evaluation of the competitive landscape and regional dynamics of the market; and
- A general overview of the overall industry outlook.
Discover the Leading Players Featured in the Report:
“Companies leading the global System Integration Market are BAE Systems Plc. HCL Technologies, Cisco Systems, Inc., Raytheon Company, Lockheed Martin Corporation, Fujitsu Limited, Capgemini S.A., Oracle Corporation, Infosys Technologies, Accenture Plc. , Northrop Grumman Corporation, Wipro Limited, IBM Corporation, Others”
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Drivers and Restraints:
Data Security Concerns to Boost System Integration Solutions Uptake in BFSI Sector
The Banking, Financial Services, and Insurance (BFSI) sector handles humungous volumes of financial data on a daily basis. With a greater number of devices added to the cloud network each day, the vulnerability of such sensitive information is more heightened than ever. As a result, organizations operating in this sector are looking for data management and protection systems to make their services seamless, easily accessible, and efficiently secured.
System integration software offer solutions for these issues, which has spiked their uptake in the BFSI sector. This has also prompted banks and financial institutions to invest more in strengthening their IT infrastructure and provide well-rounded services to customers. Thus, growing popularity of such cloud-based systems is expected to be one of the leading system integration market trends during the forecast period.
Segmentation
By Service Type
- Infrastructure Integration
- Application Integration
- Business Consulting
By Industry
- BFSI
- Government
- Healthcare
- Manufacturing
- IT & Telecom
- Oil & Gas
- Transportation & Logistics
- Retail
- Others
By Region
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- South America
Regional Insights:
Abundance of IT Professionals to Catalyze the Market in Asia-Pacific
Asia-Pacific is anticipated to command the system integration market share owing to the large-scale availability of computer professionals in the region, especially in India and China. As a result, these countries have become outsourcing hubs for players in the US and Europe, which augurs well for the regional market. Upgradation of existing infrastructure along with a rising adoption rate of Internet of Things (IoT) and other cloud-computing technologies will propel the market in Europe. In the Middle East, Africa, and Latin America, the primary factor driving the market is the increasing investment in digital innovation ventures, such as the UAE government’s funding of smart city projects.
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Competitive Landscape:
Key Market Players to Increase Focus on Corporate Growth Strategies to Keep Pace With Changing Technologies
Some of the key players operating in this market are shifting their focus toward entering crucial strategic partnerships and collaborations as no one company can create a complete solution. These strategic partnerships will help them combine their strongest capabilities with their partner’s expertise. Moreover, these organizations are heavily investing in boosting the skills of their existing workforce, which will further amplify the market growth.
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