System Integration Market in Asia Pacific 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.
System Integration Market segmentation by end-use indicates that the BFSI sector is anticipated to experience growth at a very rapid rate. Organizations operating in this sector are required to collect large amounts of consumer data of a very confidential nature. Moreover, the movement to the online platform and to mobile devices is providing impetus for the industry growth.
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End-use segmentation of the system integration market indicates that the BFSI and the IT and telecom sectors are expected to dominate in terms of market size during the forecast timeframe. This is due to the increasing proliferation of cloud technologies, Bring-Your-Own-Device (BYOD) trends, and the influx of consumer data, such as financial and personal consumer information. The government and utilities sector are anticipated to exhibit growth during the forecast timeframe. This demand is due to the rising government focus, primarily in Germany and UK, on the deployment of smart grids and the movement towards sustainable, non-conventional power solutions causing the adoption of system integration services such as building management systems, data integration, and security management systems by authorized service providers.
System integration market by service indicates that the consulting segment is anticipated to witness a higher growth during the forecast timeframe. These services allow business owners to understand their requirements pertaining to the architecture and business process, help in staying ahead amidst the changing technological landscape, in testing and deployment, and in developing a business continuity and disaster recovery plan. These are essential in streamlining the existing business processes for the maximum efficiency.
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In the present industrial scenario where companies require their systems to work in meticulous synchronization, the role of system integration market is considered highly significant. In an effort to stay abreast of all the developments that have the potential to impact the company’s remuneration, most growing organizations are seeking the deployment of an integrated system that can standardize business procedures and reduce the complexity of processes. For instance, Concept3D, a prominent firm specializing in bringing mapping to the digitalized world, recently declared that it has become an OSIsoft partner, endowed with the capability of integrating & displaying operational data from OSIsoft’s PI System.
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 market share, slated to increase at a CAGR of 6% over 2017-2024.
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