Integrated Systems Market To Witness Higher Demands Till 2024 - Industry Analysis by Hexa
Global integrated systems market is expected to witness substantial growth over the forecast period on account of the consumer demand for abridged deployments and less standalone solutions.
The global integrated systems market is projected to exhibit double-digit growth during the forecast period (2016-2024). This may be attributed to substantial demand for abridged deployments and lower number of standalone solutions. The shift from mainframe systems to internet computing has altered the way consumers buy, build and deliver technology.
Integrated systems are easily managed through a single console leading to lesser operational expenditure. They simplify processes, reduce costs, and are highly flexible. These advantages along with the escalating need to reexamine data center infrastructure are fueling market growth.
However, high deployment costs are a major challenge to widespread adoption of such systems in the coming years.
The integrated systems market is segmented on the basis of services, end-users, products, and regions.
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Services are divided into consulting, maintenance & support, and integration & installation. Integration & installation are likely to grow at a lucrative pace till 2024. This owes to huge demand from several small, medium and large enterprises. End-users comprise defense & energy, manufacturing, healthcare, retail, educational institutes, information technology & telecommunication systems, and BFSI (Banking, Financial Services, & Insurance).
Retail and manufacturing are estimated to experience robust growth in the eight years ahead. The retail sector benefits from in-store supervision of complete systems, which reduces store system downtime. Such proactive management lowers ownership costs. Revenues from BFSI could exceed USD 8.5 billion by 2024. Information technology & telecommunication systems are also foreseen to garner high revenues in forthcoming years.
Products consist of pre-integrated systems, tested systems, and validated systems. Validated systems are further split into integrated workload systems and integrated infrastructure systems. The latter is expected to dominate the market in the forecast period.
North America, Europe, Latin America, Asia Pacific, and MEA (the Middle East & Africa) constitute the regional market segments. North America reigns as a result of high market penetration and latest technological deployments. Asia Pacific could be a key contributor to the global revenues. This would be triggered by data centre transformations in the emergent economies of China and India.
Leading players in the worldwide integrated systems market encompass Cisco Systems Inc., Hewlett & Packard (HP) Company, Oracle Corporation, IBM Inc., and Fujitsu Inc. Many companies ally with those offering cloud-based storage and virtualization solutions for expanding their converged infrastructure installation.
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