Market Trends of System Integration Industry
Software/Application Integration to have a Significant Growth
- Software integration is bringing together various types of software sub-systems to create a single unified system. Software integration can be required for several reasons, including setting up a data warehouse where data needs to be moved through an ETL process and linking various databases and file-based systems. Major organizations use software-as-a-service (SaaS) cloud-based solutions, enabling them to manage particular business processes without a hassle.
- The increasing need for automation technologies, cloud computing usage, and expanding broadband infrastructure are some of the key factors driving the growth of the software integration segment in the system integration market.
- Due to system integration, organizations can access and visualize data simultaneously for better decision-making. As a result, the adoption of cloud computing technology, the growth of broadband infrastructure, and the rising demand from businesses to improve the efficiency of their current systems are some of the key factors driving the market growth of the global integration software market. Also boosting industry expansion is growing consumer interest in virtualization.
- In March 2022, Cisco Systems, Inc. revealed that its new Cisco Intersight platform integrations with public cloud integration would enable Kubernetes clusters and virtual machines to be observable across several clouds. In addition, Cisco HyperFlex Hyper-Converged Infrastructure was introduced to increase edge computing and expand users' hybrid cloud capabilities. This would allow the organization to offer infrastructure and apps for cloud integrations more quickly.
- Sonata Software was also chosen in May 2023 to serve as the system integration partner for Bayer's new cloud-based agri-food solution. A company that specializes in implementing, planning, coordinating, scheduling, testing, and upgrading technological solutions is considered a System Integration partner. It essentially controls the complex IT solution's deployment to operation lifecycle.
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North America to Hold Major Market Share
- North America held the largest market as a result of the expanding use of cloud-based services by large enterprises and the expanding use of IoT in industrial automation. The BFSI sector of the region has also embraced modern technology, which has enormous growth potential for the North American system integration market. In order to accomplish this, banks are working very hard to ensure that they meet every customer's needs.
- Also, the rising scalability among businesses and the widespread adoption of advanced technologies, such as big data, cloud-based services, and Software-as-a-Service (SaaS), have increased the complexity of operations in different organizations in the North American region.
- Consequently, there is a rise in demand for distributed information technology (IT) solutions, such as system integration, for streamlining different systems. Additionally, integrating Integration Platform as a Service (iPaaS) solutions expands system integration applications in the transportation and oil and gas industries. It allows sharing of integrated resources across multiple applications.
- Moreover, In June 2023, PortX, a provider of financial infrastructure and integration technology that offers Integration-Platform-as-a-Service (iPaaS), will release version 2.0 of its Integration Manager product. This is a significant update that is jam-packed with cutting-edge features made to improve control over digital core integration and streamline business processes. The API-driven process automation offered by Integration Manager 2.0 to FIs minimizes the stress on internal staff and offers a wide range of solutions not offered by core providers.
- Also, 70% of Bank of America's clients use digital services for their financial needs, the bank claims. It can aid the bank in expanding its clientele and maintaining its competitiveness in the market. During the projected period, there will be an increase in the demand for system integration services in the region as a result of organizations switching to these services.
- The region is witnessing various partnerships and collaborations as industries look to switch to system integration to increase productivity. For instance, In May 2022, Red Hat announced a partnership with General Motors to expand the development of software-defined vehicles at the edge and lay the foundation for broader electric vehicle adoption. This partnership will support various in-vehicle safety and non-safety-related applications, including driver assistance programs, infotainment, connectivity, and body control.
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