According to a new market research report published by Acute Market Reports “Service Integration and Management Market (by Component Type – Solutions and Services; by Solution – Business Solution and Technology Solution; by Services – Advisory Services, Implementation Services and Automation Services; by Industrial Vertical – IT & Telecommunications, Retail, Banking, Financial Services and Insurance (BFSI), Transportation & Logistics, Manufacturing, Energy & Utilities and Others) – Growth, Future Prospects, and Competitive Analysis, 2019 – 2027”, the global service integration and management market accounted to hit the market value of US$ 3.67 Bn in 2018 and expected to witness CAGR of 5.99% across the forecast period through 2019 to 2027.
Browse the full report at “Service Integration And Management Market”
Market Insights
Service Integration and Management (SIAM) is an effective solution to take advantage of the flexibility and innovation of standard and multi-sourcing services, while offering integrated services to the enterprises. Highly disparate business requirements create complex and heterogeneous environments that increase the demand for resources. Limited control over demand paves to limited control over the total cost of services or adherence to security or compliance-related requirements. Service integration function specifies the service management processes and procedures to be deployed across the enterprise. SIAM ensures that multiple service providers deliver services to multiple business verticals in efficient and cohesive manner. Effective SIAM capitalizes on the performance of end-to-end services to the business in the most cost-effective manner.
Overall service integration and management market segmented based on component, solution, service and industrial vertical. SIAM market is chiefly directed by the IT & telecommunication sector. Selective as well as multi-vendor sourcing have become mainstream in the IT sector over the last few years. This has paved to the increase in demand for SIAM as discrete discipline that aggregates individual IT services, aligning them to core business processes and priorities. North America was the dominating market for service integration and management in 2018 narrowly followed by Europe, primarily due to early adoption for advanced technologies. Demand for SIAM solutions is highest in the U.S. primarily due to stringent business governance guidelines. However, as other countries such as Germany, U.K., France, Japan, Canada, India, and Australia among others have initiated to enforce similar regulations, the demand for SIAM solutions has increased rapidly across the world.
Further, enterprises that have implemented SIAM to operations have benefitted of the concept, but it appears that the implementation itself seems to be the most challenging part in moving towards a SIAM model. SIAM is not a necessity for every IT-organization, but the bigger the organization and the more services are delivered for the end-users, the more an organization is in need of controllable service landscape. With growing competitive environment and penetration of outsourcing services the service integration and management (SIAM) market expected to surge with promising rate across the forecast period.
By Component Segment (2017–2027; US$ Bn)
By Solution Segment (2017–2027; US$ Bn)
By Service Segment (2017–2027; US$ Bn)
By Industrial Vertical Segment (2017–2027; US$ Bn)
By Geography Segment (2017-2027; US$ Bn)
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