The global system integration market size is expected to reach $955,21-billion by 2030 and expand at a CAGR of 13,8% from 2023 to 2030 according to the recent reports of Grand View Research.
The rising consumer inclination towards low-cost and energy-efficient production processes, cloud computing, and virtualisation is the key market factor driving the system integration market growth.
Automation technologies such as additive manufacturing (3D printing) and robotics possess the ability to transform work patterns in emerging and developed economies, creating robust market opportunities.
Furthermore, rising demand for automation technologies has accelerated the modernization of production facilities in several end-use industries, propelling the system integration market expansion
The growing cloud computing adoption and significant advancements in virtual technologies are expected to boost the adoption of system integration solutions. The innovation developments in the system integration market, such as clinical integration, Building Energy Management Systems (BEMS), Cloud Service Brokerage (CSB), and Cyber-Physical System (CPS), is anticipated to create robust opportunities in the industry.
Several industry players are adopting various business strategies such as collaborations, mergers, and acquisitions to improve their position in the system integration market. Various market players are focusing on improving their big data analytics services to enhance their brand identity and share in the global system integration market.
Highlights from the System Integration Market Report include:
* The consulting segment is expected to grow at a CAGR of 14,6% in the forecast period. The growing need to harness the technology power to overcome sophisticated system integration challenges is fueling the adoption of consulting services in the system integration market. The system integration solution provider offers consulting services to assist clients in the effective digital integration of their services and modernize their IT systems.
* The IT & telecom segment is expected to witness a significant CAGR of 16,2% through 2030 due to substantial 5G infrastructure development and increased penetration of 4G services which comprises intense data networks leading to huge data generation. Further, increasing telecom subscribers owing to high smartphone penetration is expected to boost segment growth in the forecast period.
* Asia Pacific system integration market is expected to register the highest CAGR of 15,5% through 2030.