System Integration Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2020
Albany, NY -- (SBWIRE) -- 01/25/2017 -- System integration enables to build computing systems for end users by combining hardware and software products from several vendors. By implementing systems integration, a company can gain low cost, pre-configured components of software. These small components of software help company to achieve key business goals.
The global system integration market was valued at USD 191.36 billion in 2013 and is forecast to grow at a CAGR of 10.9% during the forecast period from 2014 to 2020. High investment in information technology infrastructure, emerging technologies such as big data analytics and cloud computing with the availability of network infrastructure in developed economies have contributed to the growth of this market.
Traditionally, system integrators have long served the IT industry as technical specialist to bridge the gap between software and hardware. Different systems and computing devices in IT use different coding standards, different protocols for communication and different databases. This results in multiple, decentralized, heterogeneous, distinctive and complex infrastructure of distributed systems across the globe. As a result, the need for system integration increased among the enterprises and organizations.
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Hence, system integration helps business organizations stay ahead in the growing competition. Taken together, high investment in IT infrastructure and emergence of technologies such as cloud computing and big data analytics are the major drivers for system integration market.
The major application areas of system integration include defense, marine, telecommunication and IT, aviations, oil & gas, banking and healthcare among others. Banking, financial services and insurance was the largest revenue generating segment in 2013, which accounted for the share of 17.5% of the total system integration market.
Geographically, North America dominated system integration market in 2013 owing to the increased internet penetration, growing business needs, and increased adoption of cloud computing and virtualization technologies. Emerging economies in Asia Pacific such as China, India and Japan are expected to be the fastest growing regional markets. China is seeking to connect many rural areas and developing cities via internet under the latest five-year plan. Hence, the growing potential for modern ways of working is expected to create increasing demand for system integration.
The 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 of the system integration market.