AI and ML Implementation Offering New Opportunities in the Evolving System Integration Services Landscape

DUBLIN, Oct. 31, 2023 /PRNewswire/ -- The "System Integration Services Market by Service Type, Vertical and Region - Global Forecast to 2028" report has been added to ResearchAndMarkets.com's offering.

The global system integration services market is expected to grow from USD 483.0 Billion in 2023 to USD 665.6 Billion by 2028 at a Compound Annual Growth Rate (CAGR) of 6.6% during the forecast period. Companies are gradually shifting away from on-premises solutions towards cloud-based system integration services that provide mobile accessibility and other intuitive services. The model's affordability addresses specific database requirements by targeting businesses of all sizes. These services typically offer low-cost options and rapid service deployment.

Consulting Services segment to have significant growth during the forecast period.

End users often seek consulting services for their IT infrastructure needs, particularly in system integration. Consulting firms or professionals provide specialized expertise and guidance to organizations seeking to create a cohesive and efficient ecosystem by integrating their IT systems, applications, and technologies. These consulting services help organizations plan, design, implement, and manage complex system integration projects effectively. Consultants work closely with stakeholders to understand their business objectives, existing IT infrastructure, application landscape, and integration needs. They assist in selecting appropriate integration tools, middleware, APIs, and other technologies based on the organization's specific requirements, budget, and future growth plans. The consulting service sector is projected to grow at the highest rate, with developing regions such as the Middle East and Latin America seeing a surge in adoption. System integration consulting services play a crucial role in helping organizations overcome the complexities and challenges associated with integrating diverse IT systems. Significant consulting services providers in this market include Accenture, Infosys, Deloitte, Cisco, HCLTech, IBM, and HPE.

BFSI vertical to hold the largest market share during the forecast period.

The banking and insurance industries are on the brink of a digital revolution. They must stay current with the competition; tackling new challenges is essential. These include providing satisfactory customer service, improving operational efficiency, reducing costs, and complying with regulations. Consulting services can help clients understand how insurance software solutions can help them achieve strong security, efficient operations, excellent customer service, and better RoI. The BFSI sector is heavily regulated and relies on client data for data-driven decisions. Access rights management, authentication setup, and data leakage prevention are employed to ensure data security. Integrated IT services ensure that data is not misused. Banks can use the laaS and PaaS models on the private cloud to provide features such as digital identity, behavioral biometrics, push alerts, e-wallets, and QR payments for services such as cards, wealth management, and investment management.

System Integration Services market in Asia Pacific to grow at the highest CAGR during the forecast period.

The Asia Pacific region is home to some of the world's fastest-growing economies, such as China, Japan, and India. These economies are witnessing rapid growth in the number of businesses, leading to increased demand for system integration services. Asia Pacific Telecommunity is an international organization which making efforts to bring ICT and telecommunications facilities to people at affordable prices and address issues related to improving productivity, increasing efficiency, and bridging the digital divide within countries in the region. The growth in 5G infrastructure, and 5G network is likely to boost the adoption of cloud services and system integration in the region. According to GSMA, by 2025, there will be 400 million 5G connections across the region. 5G infrastructure's ability is to support next-generation offerings, such as cloud services, AI, IoT, big data and edge computing. The Asia Pacific region encompasses diverse economies and industries, and its increasing technology adoption has driven the expansion of the system integration services sector.

Countries in the Asia Pacific region are actively embracing digital transformation to enhance competitiveness and improve operational efficiency. System integration services are in high demand to seamlessly integrate new digital technologies with existing systems. With growing concerns about data security and privacy, businesses seek assistance from system integrators to implement robust cybersecurity measures and ensure compliance with data protection regulations.

The report provides insights on the following:

• Analysis of key drivers (rising demand for robust IT infrastructure, increasing internet and IoT expansion), restraints (increase in regulations, concerns over privacy), opportunities (AI/ML implementation), and challenges (lack of skills and expertise, integration issues) influencing the growth of the system integration services market
• Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product & service launches in the system integration services market
• Market Development: Comprehensive information about lucrative markets - the report analyses the system integration services market across varied regions.
• Market Diversification: Exhaustive information about new products & services, untapped geographies, recent developments, and investments in the system integration services market
• Competitive Assessment: In-depth assessment of market shares, growth strategies, and service offerings of leading players. The report also helps stakeholders understand the competitive analysis of these market players.

Key Topics Covered:

Premium Insights

• Opportunities for Companies in System Integration Services Market-  Demand for Automation and Streamlining of Business to Drive Growth of System Integration Services Market
• System Integration Services Market, by Service Type, 2023 Vs. 2028 - Infrastructure Integration Services Segment to Hold Largest Market Share in 2023
• System Integration Services Market, by Vertical, 2023 Vs. 2028 - BFSI Vertical to Hold Largest Market Share in 2023
• System Integration Services Market: Regional Scenario, 2023-2028 - Asia-Pacific to Emerge as Best Market for Investments in Next Five Years

Market Dynamics

Drivers

• Rising Demand for Robust and Efficient IT Infrastructure
• Increasing Internet Ubiquity and IoT Expansion
• Demand for Tailor-Made System Integration Services
• Cost and Risk Reduction

Restraints

• Increase in Regulations and Compliances
• Concerns Associated with Privacy and Data Security

Opportunities

• Implementation of AI and Ml in System Integration
• Increase in Dependency of SMEs on System Integration Services
• Growing Demand for System Integrators

Challenges

• Lack of Technical Knowledge and Expertise
• Integration Issues of Legacy Infrastructure and Complex & Diverse IT Networks

Case Study Analysis

• DIR Managed State's Centralized IT Infrastructure, Including Data Center, Networking, Web Services, and Security
• By Applying Sap Connector and Many More Solutions, Licensing Cost Was Decreased
• "Guided Tours" Were Developed to Make Easy Transition for End-users to Servicenow Platform
• ATOS Designed Fully Integrated Sap Solution for Club
• Two Operations Operated with More Efficiency Due to HMLR's Integration of Its HCM and Payroll Platforms

Impact of Generative AI: System Integration Services Market

• Opportunities
  • Increasing Demand for Automated Data Generation
  • Automatic Code Generation
  • Low-Code/No-Code Development
  • Security Product Integration
  • Predictive Integration
  • Demand for Efficient Prototyping and Testing
  • Real-Time Adaptability and Self-Healing
  • Generative AI Consulting
• Challenges
  • Lack of Expertise and Training
  • Privacy and Security Concerns
  • Legal Issues
  • Dependency on Training Data

Companies Mentioned

• 3Insys
• Accenture
• Aspire Systems
• Atos
• Capgemini
• Celigo
• Cgi
• Cisco
• Cognizant
• Dell
• Deloitte
• Docinfusion
• Dxc Technology
• Flowgear
• Fujitsu
• Hcltech
• Hpe
• IBM
• Infosys
• Itransition
• Jitterbit
• Microsoft
• Oracle
• Snaplogic
• Tcs
• Tray.Io
• Wipro
• Work Horse Integrations
• Workato

For more information about this report visit https://www.researchandmarkets.com/r/up9ni

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