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AI and ML Implementation Offering New Opportunities in the Evolving System Integration Services LandscapeDUBLIN, Oct. 31, 2023 /PRNewswire/ -- The "System Integration Services Market by Service Type, Vertical and Region - Global Forecast to 2028" report has been added to ResearchAndMarkets.com's offering.  The global system integration services market is expected to grow from USD 483.0 Billion in 2023 to USD 665.6 Billion by 2028 at a Compound Annual Growth Rate (CAGR) of 6.6% during the forecast period. Companies are gradually shifting away from on-premises solutions towards cloud-based system integration services that provide mobile accessibility and other intuitive services. The model's affordability addresses specific database requirements by targeting businesses of all sizes. These services typically offer low-cost options and rapid service deployment. Consulting Services segment to have significant growth during the forecast period. End users often seek consulting services for their IT infrastructure needs, particularly in system integration. Consulting firms or professionals provide specialized expertise and guidance to organizations seeking to create a cohesive and efficient ecosystem by integrating their IT systems, applications, and technologies. These consulting services help organizations plan, design, implement, and manage complex system integration projects effectively. Consultants work closely with stakeholders to understand their business objectives, existing IT infrastructure, application landscape, and integration needs. They assist in selecting appropriate integration tools, middleware, APIs, and other technologies based on the organization's specific requirements, budget, and future growth plans. The consulting service sector is projected to grow at the highest rate, with developing regions such as the Middle East and Latin America seeing a surge in adoption. System integration consulting services play a crucial role in helping organizations overcome the complexities and challenges associated with integrating diverse IT systems. Significant consulting services providers in this market include Accenture, Infosys, Deloitte, Cisco, HCLTech, IBM, and HPE. BFSI vertical to hold the largest market share during the forecast period. The banking and insurance industries are on the brink of a digital revolution. They must stay current with the competition; tackling new challenges is essential. These include providing satisfactory customer service, improving operational efficiency, reducing costs, and complying with regulations. Consulting services can help clients understand how insurance software solutions can help them achieve strong security, efficient operations, excellent customer service, and better RoI. The BFSI sector is heavily regulated and relies on client data for data-driven decisions. Access rights management, authentication setup, and data leakage prevention are employed to ensure data security. Integrated IT services ensure that data is not misused. Banks can use the laaS and PaaS models on the private cloud to provide features such as digital identity, behavioral biometrics, push alerts, e-wallets, and QR payments for services such as cards, wealth management, and investment management. System Integration Services market in Asia Pacific to grow at the highest CAGR during the forecast period. The Asia Pacific region is home to some of the world's astest-growing economies, such as China, Japan, and India. These economies are witnessing rapid growth in the number of businesses, leading to increased demand for system integration services. Asia Pacific Telecommunity is an international organization which making efforts to bring ICT and telecommunications facilities to people at affordable prices and address issues related to improving productivity, increasing efficiency, and bridging the digital divide within countries in the region. The growth in 5G infrastructure, and 5G network is likely to boost the adoption of cloud services and system integration in the region. According to GSMA, by 2025, there will be 400 million 5G connections across the region. 5G infrastructure's ability is to support next-generation offerings, such as cloud services, AI, IoT, big data and edge computing. The Asia Pacific region encompasses diverse economies and industries, and its increasing technology adoption has driven the expansion of the system integration services sector. Countries in the Asia Pacific region are actively embracing digital transformation to enhance competitiveness and improve operational efficiency. System integration services are in high demand to seamlessly integrate new digital technologies with existing systems. With growing concerns about data security and privacy, businesses seek assistance from system integrators to implement robust cybersecurity measures and ensure compliance with data protection regulations. The report provides insights on the following:
Premium Insights
Market Dynamics Drivers
Restraints
Opportunities
Challenges
Case Study Analysis
Impact of Generative AI: System Integration Services Market
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