Surging Adoption of Cloud-Based Services to Assist the Growth of Integrated Systems Market Size
Integrated Systems Market Size
The revolution of the IT landscape is expected to create a promising backdrop for the integrated systems market. Reports that judge the semiconductors and electronics industry has been offered by Market Research Future, which generates reports on industry verticals that judge the market development and possibilities. The market is foreseen to surge ahead with revenues worth USD 30 Billion while expanding at CAGR of 16 % by 2023.
The need to establish connectivity with on-premise systems and databases through the enterprise is anticipated to push the market for integrated systems. Also, the rise in applications that require combining the communication between hardware and software which is pre-installed, is estimated to boost the growth of the integrated systems market in the upcoming period.
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). 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 demand for integration of systems is further fueled by the increased investments in the IT sector, which has resulted in the deployment of IT across organizations. Integrated systems are highly deployed in industries like healthcare, BFSI, retail, and others. In the retail sector, retailers are financially benefited through communication and productivity. Supply chain integration to real-time coordination also has a huge impact on the retail sector. With the emergence of advanced forms of data management over traditional models, the market is likely to gain impetus.
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.
On the contrary, the high cost of implementation, coupled with the complexities associated with integrating existing systems with the latest software are the top barriers restricting the market growth across the globe.
Industry Updates
June 2019: A global leader in laser materials processing solutions, II‐VI Incorporated has recently introduced the all-new RLSK remote laser processing heads. It comes with integrated vision systems, which allow state-of-the-art precision welds, crucial for next-gen automotive manufacturing.
Competitive Dashboard
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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