According to the latest report by IMARC Group, titled, “System Integration Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027″, the global system integration market size reached US$ 359 Billion in 2021. Looking forward, the market expected to reach US$ 627 Billion by 2027, exhibiting a CAGR of 9.9% during 2022-2027.
System integration is the process of integrating physical and virtual components, including computer hardware, inventory, database, software, and application, of an organization to act as a coordinated system. It involves combining data from various interface layers, such as dashboards, statistics, and consumer data, into a cohesive central hub for the users to assist them in identifying trends and making comparisons. It eliminates the possibility of duplicate data by providing a unified system with a standard data format for accessing multiple tools. Apart from this, it integrates analyzing and security tools that control user access and keep customer information and organization data safe and secure. It also enables enterprises in resource planning and allows the organization to spend resources on high-value tasks, which assists in generating revenue, eliminating human error, and facilitating accurate information to run the business. In addition, it is employed to transfer data from third-party applications to the central system in real time to help companies make faster and wiser decisions.
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System Integration Market Trends:
At present, the widespread utilization of system integration in telecommunications and the increasing adoption of cloud computing in small and medium enterprises (SMEs) to maintain business data efficiently represents one of the key factors positively influencing the market. In addition, the escalating demand for system integration in banking, financial services, and insurance (BFSI) on account of improved security and convenience is bolstering the market growth. Apart from this, system integration finds extensive applications in the healthcare sector. It is used by healthcare providers to manage business operations, such as maintaining in-patient and out-patient records, lab reports, procuring medical devices, and managing human resources. System integration connects these applications and ensures a seamless flow of data.
Furthermore, the rising adoption of system integration in the manufacturing sector due to exponential growth in systems that are utilized to streamline and control the manufacturing process to bring high efficiency and profitability is bolstering the market growth. Besides this, system integration is widely utilized in telecommunications, retail, and oil and gas industries, which is creating a positive market outlook. Moreover, the increasing adoption of artificial intelligence (AI) with machine learning (ML) techniques to solve complex data integration problems is fueling the market growth. As conventional methods cannot handle considerable volumes of data gathered from different sources, AI and ML algorithms solve data processing and improve integration flow. Furthermore, the growing complexities and rising scalability of business operations are driving the market.
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Global System Integration Market 2022-2027 Analysis and Segmentation:
Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
The report has segmented the market on the basis of region, service and end use industry.
Breakup by Service:
Breakup by End Use Industry:
Breakup by Region:
Key highlights of the report:
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