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Report: SOA markets likely to reach $18.4 billion by 2012

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CIOL Bureau
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BOSTON: HCL Technologies Ltd is illustrating how Service Oriented Architecture (SOA) can be implemented in an enterprise-wide mission-critical and transactional platform at the ongoing three-day annual Gartner Financial Services Technology Summit in Boston.

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Drs. Patrick Maes, principal, Investment & Transactional Banking, HCL Technologies, will lead two presentations focused on how to implement SOA in "mission-critical" business environments, such as payments and trade execution.

HCL's banking, financial services and insurance group has proven capabilities and deep expertise in implementing SOA in critical business functions, with a track record of working with leading Financial Services companies across the globe.

SOA is a collection of services within a distributed systems architecture that communicate with each other, are self-contained and do not depend on the context or state of the other services.

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SOA can be considered an evolution in architecture, as it captures many of the best practices of prior architectures.

According to a recent Gartner report, worldwide spending in the application integration and middleware market, which encompasses most of SOA, jumped seven percent from 2004 to 2005. Furthermore, a recent Research and Markets report indicates that SOA markets will likely reach $18.4 billion by 2012, up from $450 million in 2005. Banks and Insurance Companies are going to be the forerunners in driving this growth in SOA.

"SOA is the next major inflexion point in application architecture," stated Drs. Maes. "HCL views SOA as more than implementing service-based interfaces and common business functions such as Business Process Management (BPM) and Business Activity Monitoring (BAM) -- it must include Common Data Representation as a component of the implementation. Furthermore, it is our vision that one day the Service Oriented Architecture will become 'self-serviced.'"

In this next phase of Service Oriented Architectures, centralized workflow processing will be replaced by "intelligent objects" acting upon facts and events. This architecture allows implementation of complex business logic without having to invest in a centralized workflow component, and consequently builds new business functionality on existing architectures.

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