Integrated Systems Market Overview
The global integrated systems market is expected to exhibit a solid 16% CAGR over the forecast period from 2017 to 2023, according to the latest research report from Market Research Future (MRFR). The global integrated systems market is expected to reach a valuation of USD 30 billion by 2023, according to the report. The report presents a comprehensive overview of the global integrated systems market by profiling the market’s major drivers and restraints, major players, and other major factors and trends affecting the market. The market’s historical statistics are profiled in detail in the report in order to provide readers with a solid fact platform for making studied projections about the market’s future. The competitive landscape of the global integrated systems market is also studied in detail in the report. The impact of the global COVID-19 pandemic on the global integrated systems market is also assessed in the report.
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System integration is, in essence, the process of bringing together component sub-systems under one aegis, so that the component sub-systems function as one system.
Digitalization has had a lasting impact on many industrial sectors. This has created an environment in which mobile applications, services, and cloud capabilities all coexist together in an organization’s functionality. This requires considerable effort from the IT team to bring forth the organization’s products in a unified manner. To this end, the global integrated systems market has risen in demand in order to integrate the various arms of the digital presence of enterprises. The growing digital presence of various organizations and enterprises is likely to be a major driver for the global integrated systems market over the forecast period.
The need to connect with consumers over mobile and web-based applications is also a major driver for the global integrated systems market. In an increasingly digital and mobile world, consumers increasingly prefer services they can avail from the comfort of their mobile phone. This has led to a growing need for system integration within enterprises, leading to a growing demand from the global integrated systems market. System integration can provide a better, more functional product to customers while reducing operational costs for enterprises.
Integrated Systems Market Competitive Leaderboard:
Leading players in the global integrated systems market include Robert Bosch GmbH, Emerson Electric, Hitachi Ltd., Huawei Technologies Co. Ltd., IBM Corporation, Fujitsu, United Technologies Corporation, Schneider Electric SE, Johnson Controls International plc, Honeywell International Inc., and Cisco Systems Inc.
Veeam Software, a data management software company launched suite 9.5 which helps in integrating windows server and nimble storage. It helps in providing data protection across physical and cloud workloads.
Lockheed Martin, an American Defense and advanced technology company, is about to build an integrated automation system for ExxonMobil to support company’s oil gas plant operations.
Integrated Systems Market Segmentation:
The global integrated systems market is segmented on the basis of product, service, end use, and region.
By product, the global integrated systems market is segmented into integrated platforms and integrated infrastructure.
By service, the global integrated systems market is segmented into professional services and managed services. The professional services segment dominates the global integrated systems market at present, however, both segments are expected to exhibit steady growth over the forecast period. The managed services segment is further sub-segmented into maintenance, support, installation, and integration.
By end use, the global integrated systems market is segmented into BFSI, telecom, healthcare, retail, manufacturing, and others.
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Integrated Systems Market Regional Analysis:
North America holds the major share in the global integrated systems market. The presence of several leading market players in the region is the major driver for the integrated systems market in North America. Europe holds the second-largest share in the global integrated systems market and is likely to remain an important regional market over the forecast period.
Asia Pacific is expected to exhibit the highest growth rate over the forecast period. The growing telecom industry in Asia Pacific is likely to remain a major driver for the integrated systems market in Asia Pacific over the forecast period.
