advantages such as variable cost, dynamic scaling, and utility price. Also, cloud services enable the sharing of hardware infrastructure, thereby reducing the capital cost requirements.
By application integration services, the industry is classified as data integration, integrated security software, integrated social software, application integration, and unified communication.
The companies also provide consulting services including application lifecycle management( ALM), business process, and business transformation. The business process services are expected to show the highest CAGR owing to increasing importance of streamlining business processes for increased productivity of the organization.
By application, the system integration market is segmented into government, BFSI, consumer goods & retail, manufacturing, healthcare, telecommunication & IT, transportation & logistics and oil, gas & energy. BFSI and government segment acquired the highest market share in 2016 owing to a high-volume requirement from the various government institutions. Telecommunication & IT segment is expected to show the highest CAGR over the forecast period from 2017 to 2024. The growth for this segment is attributed to its capabilities to address the crucial needs of business processes specifically in the banking sector to facilitate smooth operations.
North America is expected to be the largest revenue generator region owing to the high adoption of these services across the various verticals and availability of technologically advanced services. Asia Pacific region is expected to grow with the highest CAGR over the forecast period. Its growth is attributed to the developing countries including India andChina,. The government support for increasing adoption of cloud-based solutions & services and organizations opting for digitization & modernization are driving the growth in the Asia Pacific region.
Some of the companies operating in system integration market include IBM Corporation, Infosys Limited, Fujitsu Limited, Cognizant Technology Solutions, Capgemini Group, Computer Sciences Corporation, TATA Consultancy Services Limited, Accenture PLC, Ericsson, Wipro Limited, etc. The companies focus on enhancing the customer experience by providing quality services and customer support.
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