Market Research Future (MRFR), in its newly published report on the integrated systems market 2020 discuss factors that can cause escalation in the market valuation. As per MRFR study, the integrated system market is likely to touch USD 30 Bn by 2023. The world integrated system market is likely to thrive at 16% CAGR across the assessment period 2017 to 2023. In North America, the integrated systems market share is likely to be the highest due to high number of data centres.
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The integration system allows ease of creating an information system that can offer the construction of modified application and can be applied to combine communication between software and hardware that are installed. The growing utility of integrated systems across enterprises can prompt the expansion of the world integrated system market. It is observed that most organizations for development of their system depend on third party organization. These organizations are incorporating integrated system that is likely to support the expansion of the integrated system market. The rise in the deployment of cloud computing and the growing utility of on -premise systems to achieve <a well-balanced corporate ecosystem can prompt the market expansion. The deployment of cloud-based integrated systems can as well boost the expansion of the market.
The global integrated systems market can be classified on the basis of product, service, end-use, and region. On the basis of product, the segment is further classified into integrated platform and integrated infrastructure. On the basis of service, the segment is further classified into professional and managed services. The managed services segment can be further classified into maintenance, support, installation and integration. The professional services can be segmented into consulting services. The integrated systems can be deployed in various verticals such as BFSI, telecom, healthcare, retail, manufacturing, and many more. Increasing investments in IT sector in recent years has resulted in the deployment of IT in various organizations which created demand for integration of systems. Development in technologies across manufacturing sector is fuelling the global market for integrated systems. High implementation cost and complexity in integrating existing systems with the latest software are hindering the market growth.
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North America integrated systems market can rise at a significant growth rate revealed study by MRFR. The high concentration of reputed integrated system developers and their investment in innovations are expected to bolster the expansion of the regional market in the years to come. The high technically developed region can aid in the expansion of the integrated system market in the region. In Asia Pacific, the integrated system market can exhibit a prominent rate of expansion in the assessment period. The increase in the regional data centers count and the expansion of the regional IT infrastructure are major factors that can drive the APAC integrated system market in the near future. The flourishing telecom industry in the region is invested in launching solutions that are customer sustaining. This aids in the expansion of customer base in the deployment of numerous integration techniques that can revamp the existing network solutions. In Europe, the global integrated systems market is expected to generate considerable revenue.
MRFR profiled reputed suppliers in the integrated systems global market based on product line, origin, and innovations. They are; Honeywell International Inc. (U.S.), Cisco Systems, Inc. (U.S.), Schneider Electric SE (France), United Technologies Corporation (U.S.), Hitachi, Ltd.(Japan), Emerson Electric (U.S.), Robert Bosch GmbH(Germany) Huawei Technologies Co., Ltd.(China), Johnson Controls International Plc (U.S.), Fujitsu (Japan), IBM Corporation (U.S.) among others.
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