System Integration Market - Growing at a CAGR of 10.9% During the Forecast Period from 2014 to 2020
System integration enables to build computing systems for end users by combining hardware and software products from several vendors. By implementing systems integration, a company can gain low cost, pre-configured components of software. These small components of software help company to achieve key business goals.
The global system integration market was valued at USD 191.36 billion in 2013 and is forecast to grow at a CAGR of 10.9% during the forecast period from 2014 to 2020. High investment in information technology infrastructure, emerging technologies such as big data analytics and cloud computing with the availability of network infrastructure in developed economies have contributed to the growth of this market.
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The major application areas of system integration include defense, marine, telecommunication and IT, aviations, oil & gas, banking and healthcare among others. Banking, financial services and insurance was the largest revenue generating segment in 2013, which accounted for the share of 17.5% of the total system integration market.
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Traditionally, system integrators have long served the IT industry as technical specialist to bridge the gap between software and hardware. Different systems and computing devices in IT use different coding standards, different protocols for communication and different databases.