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System Integration Services Market 2024-2033 : Industry Analysis, Size, Share, Growth And Forecast
System Integration Services Global Market Report 2024
According to The Business Research Company's, The system integration services market size has grown strongly in recent years. It will grow from $458.24 billion in 2023 to $494.7 billion in 2024 at a compound annual growth rate (CAGR) of 8.0%. The growth in the historic period can be attributed to legacy system modernization, complex it environments, mergers and acquisitions, custom software solutions, security and compliance requirements.
The system integration services market size is expected to see strong growth in the next few years. It will grow to $638.29 billion in 2028 at a compound annual growth rate (CAGR) of 6.6%. The growth in the forecast period can be attributed to hybrid and multi-cloud environments, iot and edge computing integration, ai and machine learning implementations, focus on cybersecurity integration, business process automation. Major trends in the forecast period include rapid technology adoption cycles, cloud adoption, enterprise digital transformation, devops integration, data integration for analytics.
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Market Drivers and Trends:
The increasing adoption of digital transformation strategies is expected to propel the growth of the system integration services market going forward. Digital transformation strategies refer to a set of initiatives and plans that organizations undertake to leverage digital technologies and adapt their operations, processes, and business models to meet the evolving demands of the digital age. Digital transformation is helpful for system integration services as it integrates digital technology into all business areas, fundamentally changing how the business operates and delivers value. System integration plays a critical role in the digital transformation journey by linking separate modules, processes, and data systems to work in a unified manner, thereby reducing costs, eliminating redundancy, and improving productivity and efficiency. For instance, in October 2022, according to the International Data Corporation, a US-based software service provider company, global spending on digital transformation (DX) is projected to reach $3.4 trillion in 2026, with a five-year compound annual growth rate (CAGR) of 16.8%. Therefore, the increasing adoption of digital transformation strategies are driving the growth of the system integration services market.
Major companies operating in the system integration service market are innovating emerging technologies such as Joint Generative AI Center to increase their profitability in the market. Joint Generative AI Center is a system integration service that helps enterprises leverage generative potential. For instance, in December 2023, an Ireland-based information technology company, launched a joint generative AI center of excellence to improve operations and create new lines of business. The center aims to provide industry technical knowledge and product resources to build and scale applications using Google Cloud's generative AI portfolio, including tensor processing units (TPUs), graphics processing units (GPUs), and Google AI hypercomputers for quick training, tuning, and serving of AI models. This will provide AI-managed services to scale generative AI, including deploying Gemini, Google's newest and most capable model.
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• Global Perspective: The reports cover various regions and markets, providing a broad view that helps stakeholders expand and operate successfully on a global scale.
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Major Key Players of the Market:
Major companies operating in the system integration services market report are Microsoft Corporation, Dell Technologies, Deloitte, International Business Machines Corporation, Cisco, Oracle Corporation, BAE Systems Plc, Hewlett Packard Enterprise, Tata Consultancy Services (TCS), Fujitsu Limited, Capgemini, Cognizant, Infosys, DXC Technology, HCL Tech, Atos, Wipro, CGI Inc, MuleSoft, Celigo, Work Horse Integration, Workato, Itrasition, Jitterbit, Snaplogic, Tray.io, Aspire Systems, DocInfusion, Flowgear
System Integration Services Market 2024 Key Insights:
• The system integration services market is expected to grow to $638.29 billion in 2028 at a compound annual growth rate (CAGR) of 6.6%.
• Digital Transformation Driving Growth in System Integration Services Market
• System Integration Service Companies Embrace Joint Generative AI Center for Market Profitability
• Asia-Pacific was the largest region in the system integration services market in 2023
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