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System Integration Market Worth $387.86B by 2021
November 14, 2016 | PRNewswireEstimated reading time: 2 minutes
According to a new market research report "System Integration Market by Infrastructure Integration (Building Management System and Cloud Integration), Application Integration (Unified Communication), Consulting Service, Vertical (BFSI), and Region - Global Forecast to 2021" published by MarketsandMarkets, the market estimated to grow from USD 269.70 Billion in 2016 to USD 387.86 Billion by 2021, at a Compound Annual Growth Rate (CAGR) of 7.5%.
The major forces driving the System Integration Market is the concern for automation & integrated approach in business process and advancements in cloud technologies & virtualization. The continuous developments in System Integration Market globally have encouraged users to adopt system integration services and solutions.
Network integration infrastructure services segment is expected to grow at the highest CAGR
The market by infrastructure integration service has been segmented into building management system, cloud integration (IaaS), integrated communication, datacenter infrastructure management, network integration, other infrastructure integration. Network integration is expected to hold the largest market share during the forecast period, due to rise in globalization of business landscape and proliferation of multinational corporations across the world. Hence, to streamline and integrate the business operations, organizations have a high requirement of integrating various locational infrastructures into a coherent whole.
Business process integration market is expected to grow at the highest rate during the forecast period
The market by consulting service has been segmented into application lifecycle management, business transformation, business process integration, and other consulting services. The business process integration consulting service is expected to grow at the highest CAGR and dominate the System Integration Market from 2016 to 2021, due to growing demand and concern for integration in business process. Moreover, it also helps to integrate distributed systems, services, applications, and software in organizations.
Asia-Pacific (APAC) is expected to dominate the System Integration Market during the forecast period
North America is expected to hold the largest share of the System Integration Market in 2016 owing to the technological advancements and early adoption of system integration services and solutions across a large number of verticals in this region. The market in APAC is expected to grow at the highest CAGR between 2016 and 2021. The primary driving forces for this growth are changing work culture in organizations, government initiatives, and rapidly deployable cloud-based services and solutions in various industries in the APAC countries, especially India, China, and Japan.
The report also encompasses different strategies, such as partnerships & agreements, mergers & acquisitions, and product developments, adopted by major players to increase their share in the market. Some of the major technology vendors include Tata Consultancy Services Limited (TCS) (India), Accenture PLC (Ireland), Computer Sciences Corporations (CSC) (U.S.), Ericsson (Sweden), Cognizant Technology Solutions Corporation (U.S.), CGI Group Inc., (Canada), International Business Machines Corporation (U.S), Wipro Ltd. (India), Informatica (U.S.), and MuleSoft Inc. (U.S.).
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