The market for enterprise application integration (EAI) technologies within financial services will reach nearly $12.5 billion by 2006, according to a new report from Meridien Research.
The report, "Enterprise Application Integration: Building Blocks for the Consumer Economy," predicts the EAI and business process integration market will grow at just over 22 per cent annually over the next few years. Global spend this year was just $4.6 billion.
Demand will be driven first by North American financial institutions struggling to reconcile and consolidate their view of a single customer across years of industry mergers and acquisitions, suggests Meridien.
Tom Richards, author of the report and research director at Meridien, says: "The urgency to get to the Web and the critical dependencies that connect IT to business opportunities have fueled growth in this market. This growth will continue as Web services and EAI technologies merge and are quickly subsumed into a new category known as business process integration."