Increasing adoption of cloud computing and rapid growth of small & medium enterprises (SMEs) are boosting the growth of the global system integration market.

PORTLAND, PORTLAND, OR, UNITED STATES, January 24, 2024 /EINPresswire.com/ — According to the report published by Allied Market Research, the global system integration market generated $351.8 billion in 2021, and is projected to reach $1,838.6 billion by 2031, growing at a CAGR of 18.1% from 2022 to 2031. The report offers a detailed analysis of the top winning strategies, evolving market trends, market size and estimations, value chain, key investment pockets, drivers & opportunities, competitive landscape, and regional landscape. The report is a useful source of information for new entrants, shareholders, frontrunners, and shareholders in introducing necessary strategies for the future and taking essential steps to significantly strengthen and heighten their position in the market.

System integration provides risk coverage for lost income due to failure to work in case of any permanent or temporary disability. This kind of insurance helps in providing a part of the lost income along with the medical expenses, if the policyholder happens to meet with an accident that led to disability. It covers sick leave and offers disability benefits for short and long-term periods.

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Furthermore, increasing adoption of cloud computing and rapid growth of small & medium enterprises (SMEs) is boosting the growth of the global system integration market. In addition, demand for low-cost and energy-efficient production processes is positively impacts growth of the system integration market. However, lack of awareness among the customers and enterprise budgetary constraints is hampering the system integration market growth. On the contrary, technological advances such as the integration of edge computing, internet of things (IoT), and artificial intelligence is expected to offer remunerative opportunities for expansion during the system integration market forecast.

Depending on enterprise size, the large enterprise segment holds the largest system integration market share as large enterprises are adopting system integration to connect all their infrastructures. However, the SMEs segment is expected to grow at the highest rate during the forecast period, owing to increase adoption of cloud computing in the past few years.

Based on industry, the BFSI segment held the dominating market share in 2021, holding nearly one-fifth of the global market, and is expected to maintain its leadership status during the forecast period. The healthcare segment, on the other hand, is expected to cite the fastest CAGR of 22.2% during the forecast period.

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Region-wise, the system integration market size was dominated by North America in 2021, and is expected to retain its position during the forecast period, large scale adoption of IoT and cloud services. However, Asia-Pacific is expected to witness significant growth during the forecast period, owing to growing economies such as India and China and cloud-native countries like Japan.

The key players that operate in the system integration market analysis are Accenture, Capgemni SE, Cisco Systems Inc, Fujitsu, Cognizant, Delloite, IBM Corporation, Infosys, Tata Consultancy services, Tech Mahindra Limited, Oracle Software, HCL Technology, Tesco Controls, Burrow Global, INTECH, Crystalloids Inc, and Mangrovia Blockchain Solutions. These players have adopted various strategies to increase their market penetration and strengthen their position in the system integration industry.

COVID-19 Scenario:

• The outbreak of COVID-19 has had a positive impact on the growth of the global system integration market, owing to the prevalence of lockdowns in various countries across the globe.

• Lockdowns resulted in increased system integration among businesses and companies because it has offered several opportunities to digitize and expand the business across regions by adopting technologies such as cloud, Artificial Intelligence (AI), and IoT.

• With the considerable control achieved over the pandemic, various sectors such as retail, manufacturing, and automotive, are expected to witness rising investments as system integration solutions grow in prominence across different business functions.

• The market is further expected to grow exponentially with the rise in internet penetration and surge in investment in the sector.

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The report offers a detailed segmentation of the global system integration market based on service type, enterprise size, industry vertical, and region. The report provides a comprehensive analysis of every segment and their respective sub-segment with the help of graphical and tabular representation. This analysis can essentially help market players, investors, and new entrants in determining and devising strategies based on the fastest-growing segments and highest revenue generation that is mentioned in the report.

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Lastly, this report provides market intelligence most comprehensively. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.

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