The global service integration and management market are expected to grow from USD 4.5 billion in 2020 to USD 6.71 billion in 2027 at a CAGR of 4.5% during the forecast period, 2021-2027. Technology solutions for infrastructure are gaining popularity as they provide companies with essential infrastructure, including networks and mobility. In addition, the market is driven by the trend-increasing adoption of GRC management solutions. These factors will augment the global service integration and management market over the forecast period.
Factors Affecting the Service Integration and Management Market over the Forecast Period
The main drivers of the global SIAM market are the rising complexities of service management and a cost-effective SIAM platform. Improvement of service quality contributing to process efficiency along with improvement of value is boosting the global market. Moreover, owing to the creative and innovative technology it brings to the enterprise, proper utilization of qualified and limited capital, and reduction of process implementation costs, the cost of service management for organizations is minimized by implementing the SIAM model.
The increasing need for convergence of management strategies with the organization’s strategic initiative provides more opportunities for the SIAM market. More prospects are generated for the market by rising demand for automation industries and a lack of versatility in business models.
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Lack of skills and expertise is posing many challenges to the Global SIAM Market
- The key restraints of the global service integration and management market are lack of standardization, regulatory enforcement, and efficient integrated SIAM process.
- Increasing management problems hamper the growth of the market in cross-functional teams and divergent tooling priorities of various service providers.
- Lack of expertise and the inability to adopt new or emerging technologies and services present major challenges to the global market.
Impact of COVID-19 on Service Integration and Management Market
Governments, organizations, and enterprises are gradually embracing Service Integration and Management during the COVID-19 pandemic to perform and execute recurring functions or procedures where physical effort can be substituted. Social distancing during COVID-19 has caused organizations and businesses to curtail providing services to customers. In addition, suppliers of SIAM are incorporating new and modern technologies in creative ways to help companies battle the Coronavirus outbreak. This fuels the global growth of the service integration and management market.
Scope of the Report
The report outlines the global service integration and management market study based on components, organization size, and end-user.
Based on the components, the service integration and management market has been segmented into –
- Business Solutions
- Contract Management
- Risk and Control
- Auditing and Invoicing
- Technology Solutions
- Training and Support
- Business Solutions
Based on the organization size, the service integration and management market has been segmented into –
- Small and Medium-Sized Enterprises (SMEs)
- Large Enterprises
Based on the end-user, the service integration and management market has been segmented into –
- IT and Telecommunications
- Banking Financial Services and Insurance
- Energy and Utilities
- Transportation and Logistics
- Healthcare and Government
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Service Integration and Management Market: Regional Outlook
The global service integration and management market are segmented into five geographical regions, namely, North America, Asia Pacific, South America, Europe, and the Middle East and Africa (MEA). In 2020, North America held the largest share in the global service integration and management market, followed by the Asia Pacific and Europe. Many companies in North America are striving to provide SIAM solutions as a part of their enhanced mobility system, which drives the market in the region. Furthermore, Asia Pacific is predicted to project the highest CAGR in the global market over the forecast period.
Key Global Service Integration and Management Market Competitors Includes
The global service integration and management market is highly fragmented, with the presence of a large number of small players across the globe. The key players operating in the global Services Integration and Management market include–
- IBM Corporation
- Capgemini SE
- HCL Technologies Limited
- DXC Technology
- Atos SE
- Tata Consultancy Services Limited
- Wipro Limited
- Accenture PLC
- Fujitsu Limited
- Mindtree Limited
- Oracle Corporation
- NTT DATA Corporation
- CGI Group Incorporated
- Infosys Limited
- Hewlett Packard Enterprises.
The service integration and management market report provides a thorough analysis of macro-economic factors and the market attractiveness of every segment. The report will include an in-depth qualitative and quantitative assessment of the segmental/regional outlook with the presence of the market players in the respective segment and region/country.
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Service Integration and Management Market Report Covers Comprehensive Analysis On
- Market Segmentation Regional Analysis
- Market Size of 10 years
- Pricing Analysis
- Supply Demand Analysis
- Product Life Cycle Analysis
- Porter’s Five Forces Value Chain Analysis
- Developed Emerging Economies Analysis
- PEST Analysis
- Market and Forecast Factor Analysis
- Market Opportunities, Risks, Trends
- Conclusion Recommendation
- Regulatory Landscape
- Patent Analysis
- Competition Landscape
- 15+ Company Profiles
Service Integration and Management Market Regional Analysis Includes
- North America (US, Canada, Mexico)
- South America (Brazil, Argentina, Colombia, Peru, Rest of Latin America)
- Europe (Germany, Italy, France, UK, Spain, Poland, Russia, Slovenia, Slovakia, Hungary, Czech Republic, Belgium, the Netherlands, Norway, Sweden, Denmark, Rest of Europe)
- Asia Pacific (China, Japan, India, South Korea, Indonesia, Malaysia, Thailand, Vietnam, Myanmar, Cambodia, the Philippines, Singapore, Australia New Zealand, Rest of Asia Pacific)
- The Middle East Africa (Saudi Arabia, UAE, South Africa, Northern Africa, Rest of MEA
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Service Integration and Management Market: Target Audience
- Service integration and management companies
- End-use companies
- Integration and management software solution providers
- System integrators and IT service providers
- Trade publications and magazines
- Government authorities, associations, and organizations
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