Key Market Trends
Key Market Trends
Adoption of Cloud in IT and Telecom is Expected to Drives the Market
- The demand for EAI solutions in the IT industry is majorly driven by the adoption of cloud platforms. This is expected to drive the demand for EAI solutions, in the segment. IT majors have grown to become some of the most valuable firms, in their respective countries. Thus, to maintain a competitive edge, they are also shifting to cloud deployment.
- The telecom sector is in a state of flux. This is due to rapidly developing technologies, growing demand, diversity in client base, demand for current products and services at cheaper prices, and the merging of multiple industries, like cable and satellite, with established telecoms. Thus, the adoption of EAI is expected to enable CSPs (cloud service providers) to maintain and manage diverse systems and applications across multiple functions, by allowing them to accomplish logical business process integration, among various disparate application systems.
- The adoption of cloud platforms also serves as a way to integrate various applications, facilitate new and expanded channels, manage costs, manage private cloud, improve access to client data, and other better services.
North America to Account for Significant Market Share
- The region has a high rate of adoption from almost all the end-user segments in the region, especially contributed by the demand from the United States. The major end-user segments driving the market include retail, BFSI, and manufacturing.
- E-commerce sector is also one of the primary sources of demand for EAI solutions. The U.S. retail e-commerce sale for the third quarter 2019 was estimated to increase by 16.9% from the third quarter of 2018, while total retail sales increased by 4.0% in the same period, accounting for 11.2% of total sales. EAI solutions are increasingly being used to connect the backend systems of e-commerce websites to facilitate quick decision making and ensure the ready availability of data.
- With the advent of Industry 4.0 policies and the United States targeting to bring back production establishments into the country, there has been a considerable increase in usage of EAI solutions in the manufacturing sector.