Global System Integration Market - Analysis, Research , And Forecast 2020 -2027
The global System Integration Market is estimated to increase at a CAGR of 6.0 percent from USD 23.6 billion in 2020 to USD 31.5 billion by 2027.
The growing Internet of Things (IoT) in industrial automation, increasing safety and security concerns driving demand for automation systems, demand for low-cost, energy-efficient manufacturing processes by manufacturing plants, and advancements in cloud computing technology are all driving the growth of the system integrator market for industrial automation.
Impact of COVID-19 on the Global System Integration Market
COVID-19 has had a considerable impact on the industrial automation system integrator business as well as the end-user industries served. COVID-19's rapid spread across countries has caused many governments to take exceptional steps to combat the epidemic. Many businesses have been temporarily closed as a result of these actions, financial markets have been thrown into chaos, and travel and mobility have been severely restricted. The shutdowns' initial direct impact has had a significant influence on demand for system integration services. The overall long-term impact of COVID-19 on the market is predicted to be determined by a number of factors, including the pandemic's global spread and length, the actions taken by various government bodies around the world in reaction to the pandemic, and the disease's severity.
Driver: Growing worries about safety and security are driving demand for automation systems.
Safety and security are top priorities in businesses including oil and gas, energy and power, and chemicals and petrochemicals. Companies in these industries must strategize their plans in accordance with the various countries' rules and environmental standards. Refineries for oil and gas are typically located in difficult environments. To avoid accidents and equipment failures, these industrial units require automation solutions.
Restraint: Automation deployment and maintenance demand a significant financial investment.
The high initial expenditure is a major stumbling block to the growth of process automation. Installation of supervisory solutions such as MES, advanced process control (APC), DCS, and SCADA, as well as devices such as process analyzers, control valves, actuators, smart sensors, and communication networks, necessitates large investments. Process analyzers, smart sensors, and actuators, for example, have high installation and maintenance expenses, which drives up the price for clients. Although automation has long-term benefits, organisations are unable to fully automate because of the high upfront costs. In the process industry, this limits the market for system integrators.
The growing Internet of Things (IoT) in industrial automation, increasing safety and security concerns driving demand for automation systems, demand for low-cost, energy-efficient manufacturing processes by manufacturing plants, and advancements in cloud computing technology are all driving the growth of the system integrator market for industrial automation.
Impact of COVID-19 on the Global System Integration Market
COVID-19 has had a considerable impact on the industrial automation system integrator business as well as the end-user industries served. COVID-19's rapid spread across countries has caused many governments to take exceptional steps to combat the epidemic. Many businesses have been temporarily closed as a result of these actions, financial markets have been thrown into chaos, and travel and mobility have been severely restricted. The shutdowns' initial direct impact has had a significant influence on demand for system integration services. The overall long-term impact of COVID-19 on the market is predicted to be determined by a number of factors, including the pandemic's global spread and length, the actions taken by various government bodies around the world in reaction to the pandemic, and the disease's severity.
Driver: Growing worries about safety and security are driving demand for automation systems.
Safety and security are top priorities in businesses including oil and gas, energy and power, and chemicals and petrochemicals. Companies in these industries must strategize their plans in accordance with the various countries' rules and environmental standards. Refineries for oil and gas are typically located in difficult environments. To avoid accidents and equipment failures, these industrial units require automation solutions.
Restraint: Automation deployment and maintenance demand a significant financial investment.
The high initial expenditure is a major stumbling block to the growth of process automation. Installation of supervisory solutions such as MES, advanced process control (APC), DCS, and SCADA, as well as devices such as process analyzers, control valves, actuators, smart sensors, and communication networks, necessitates large investments. Process analyzers, smart sensors, and actuators, for example, have high installation and maintenance expenses, which drives up the price for clients. Although automation has long-term benefits, organisations are unable to fully automate because of the high upfront costs. In the process industry, this limits the market for system integrators.
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