January 22, 2020 by Market-NewsFlash
The integrated systems market is anticipated to surpass a valuation of USD 30 billion, attaining a CAGR of 16% during the review period (2017–2023), Market Research Future (MRFR) reveals in a detailed report. An integrated system can be defined as a process to create an information system, including constructing a modified application. The modified application is further used to combine the communication the hardware and software pre-installed. Integration systems aids in integrating on-premise systems with the help of cloud-based applications.
Market Potential and Pitfalls
The integrated systems market is predicted to expand at breakneck speed during the assessment period. The surging adoption of cloud-based services and the integration of existing technologies related to software and hardware are some of the factors dictating the growth trajectory of the market.
The IT sector is evolving at an enormous rate and experiences the emergence of integrated systems, where data center technologies are melded to tested and pre-engineered systems, which operate as a whole. IT executives are highly considering integrated systems as an effective way to enhance their business agility. This is likely to dictate the growth trajectory of the market in the coming years.
Global Integrated Systems Market: Segmental Analysis
By product, the integrated systems market is segmented into integrated infrastructure and integrated platform. The integrated platform offers map flow, which facilitates the application programming interface and integration flow.
By service, the integrated systems market is segmented into professional and managed services.
By end use, the market is segmented into telecom, BFSI, retail, healthcare, manufacturing, and others. Among these, integrated systems are highly applied in the BFSI sector due to its high adoption rate across the sector.
Geographically, the integrated systems market spans across Europe, North America, Asia Pacific, and Rest of the world (RoW).
Considering the global scenario, North America acquires the lion’s share and is predicted to expand at a significant rate. The existence of industry bigshots and highly developed countries are the major propelling factors of the regional market. Europe bags the second position due to the extensive adoption of cloud-based services in large enterprises as well as in SMEs.
The top players operating in the global integrated systems market include Honeywell International Inc. (U.S.), Cisco Systems, Inc. (U.S.), Schneider Electric SE (France), Johnson Controls International Plc (U.S.), Fujitsu (Japan), United Technologies Corporation (U.S.), Huawei Technologies Co., Ltd. (China), IBM Corporation (U.S.), Emerson Electric (U.S.), Hitachi, Ltd. (Japan), and Robert Bosch GmbH (Germany).
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