Albany, NY -- (SBWIRE) -- 11/24/2017 -- According to a new market report published by Transparency Market Research "System Integration Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2020", the global system integration market was valued at USD 191.36 billion in 2013 and is expected to reach USD 377.59 billion by 2020, growing at a CAGR of 10.9% during the forecast period from 2014 to 2020.
In terms of revenue, North America was the largest regional market for system integration which accounted for 33.0% of the total system integration market in 2013. Asia Pacific is expected to be the fastest growing regional market for system integration during the forecast period, growing at a CAGR of 13.5% from 2014 to 2020.
Browse the full System Integration Market (Infrastructure Integration Service, Application Integration Service and Consulting Service) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2020 report at https://www.transparencymarketresearch.com/system-integration-market.html
Availability of resources and emerging local players in Asia Pacific are expected to drive the system integration market over the forecast period. Additionally, rapidly growing economies, globalization of various firms in Asia Pacific and large end user base is propelling the demand of system integration in Asia Pacific.
The global system integration market is expected to be driven by high investment in information technology (IT) infrastructure boosting the demand for integrated systems, emerging technologies such as cloud and big data analytics and high investment in automation solutions. Despite these driving forces, high implementation cost and time and less number of integration standards in IT domain are some restraining factors for the growth of system integration market.
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Today, local firms are aiming to go global and global firms are looking forward to penetrate deeper in the market. In face of rising operational cost, various small, medium and large enterprises are demanding for system integration service as they aim to reduce the overall operational cost.
Out of all major market segments, infrastructural system integration was the largest segment in terms of revenue generation in 2013 and is forecast to maintain its dominance over the forecast period. This is mainly due to the expected development of network management and cloud based integration services in coming years. In 2013, data integration was the largest segment in application integration service segment which held the share of 28.2% of the total application integration services market.
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However, integrated social software segment is expected to grow at fastest CAGR of 11.3% during the forecast period from 2014 to 2020. Banking, financial services and insurance sector generated the maximum revenue for global system integration market in 2013 and is expected to maintain its dominant position throughout the forecast period. System integration market is expected to grow significantly in defense sector in coming years.
Geographically, North America dominated the global system integration market in 2013, accounting for the share of 33.0%. Emerging economies in Asia Pacific such as China, India and Japan are expected to be the fastest growing markets for system integration. Many local players in this region are emerging as global market leaders and are expected to drive system integration market in coming years.
The global system integration market is fragmented in nature and players such Accenture Plc, BAE Systems Plc, Cognizant Technology Solutions, Computer Science Corporation (CSC), Fujitsu Limited, Harris Corporation, Hewlett-Packard Company, IBM Corporation, Infosys Technologies, Lockheed Martin Corporation, Oracle Corporation and Tata Consultancy Services Limited among others hold the distinguishable share in the global market.