System Integration Market is projected to showcase significant growth from IT and telecom sector | Major Venders are HCL Technologies, HP, Huawei Technologies, IBM, Infosys, Oracle, NTT DATA Services, Fujitsu Global, Unisys, VCE, Accenture
System Integration Market growth will be driven by rising demand for internet connectivity has led to an increased requirement of hardware and software solutions in the IT and telecom industry over the forecast timeline. The emergence of advanced technology in communication services and a paradigm shift of the customer base from wired to wireless services has massively propelled system integration industry from the IT & telecom sector. In this regard, it would be prudent to mention that China has a pivotal role to play in augmenting the regional system integration industry size from IT applications, primarily on account of the evolution of 5G networks and a rise in business consultancy services. China in fact, has even launched a five-year plan to provide internet connectivity to rural areas.
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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.
Among other major end users of system integration services, it would be imperative to mention the banking, financial services, and insurance (BFSI) sector. The rising demand for online banking and mobile applications will ensure that the BFSI domain emerges as a vital growth ground for system integration market in the ensuing years. The situation is also mainly attributed to the fact that banks majorly require these services to lower ownership costs, improve business processes, mitigate risks, and increase operational efficiency.
Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:
1. HCL Technologies
3. Huawei Technologies
7. NTT DATA Services
8. Fujitsu Global
11. GTL Limited
18. Dell EMC
Among the various segments that contribute toward system integration market growth, integrated building management system would require a special mention. Technological developments in the system integration industry have led integrated buildings to be able to maintain heating/cooling and even support energy conservation, monitor individual power supplies and initiate emergency response. According to the research conducted by the American Society of Heating, Refrigerating and Air-Conditioning Engineers, investing in an integrated building management system can improve the productivity of employees and occupants and save more than 14% in annual costs measured in lost productivity.
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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 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 high initial costs associated with using these services and the lack of the appropriate broadband infrastructure and network are some of the major factors that might hinder the growth of system integration market. SMEs for instance, are a severely restricted financial budget and hence have difficulty in accessing this facility. However, highly skilled labor has been helping to lower the overall costs of these services and is anticipated to drive system integration industry demand in the long term. More recently, the rising prominence of IoT and the advent of Industry 4.0 have heightened the importance of the interconnection of various disjointed hardware and software solutions throughout the organization. This will unrefutably fuel system integration industry share, slated to increase at a CAGR of 6% over 2017-2024.
Top vendors in the system integration market include Accenture, AGC Networks Ltd., ASI System Integration, Inc., Capgemini, CGI, Cisco, CSC, Dell, Deloitte, Dell EMC, Fujitsu Global, GTL Limited, HCL Technologies, Hitachi, HP, Huawei Technologies, IBM, Infosys, MuleSoft, NTT DATA Services, Oracle, Orion Systems, ASI System Integration, Inc., Tech Mahindra, Teradata, Tieto, Trigent Software Inc, and Unisys,VCE.
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