The growth of the market is governed by various factors such as growing proliferation of the micro services architecture which encourages breaking the application into smaller components.
Market Size – USD 3.71 Billion in 2018, Market Growth - CAGR of 21.9%, Market Trends-Adoption of hybrid cloud deployment services in several end-user industries
The Service Integration and Management (SIAM) Market is expected to reach USD 5.45 Billion by 2026, according to a new report by Reports and Data. Service integration is the coordination of people, tools & technology, processes, data, and governance across various suppliers. It assures practical and useful operations of the end-to-end service delivery to the enterprise user. SIAM’s service management structure organizes multiple roles across the organization, such as forecasting business demand and getting capability plans from IT service providers. The process plays a very critical role in all service management processes, which include the incident resolutions, delivery of new cross-supplier services, and coordinated disaster recovery. SIAM technologies assist the IT organization to build a better business plan, security, visibility, and precise control over the process.
Due the presence of advanced economies, like the United States (US) and Canada, North America is estimated to hold the largest share of 42.3% in 2018. North America is the most developed region in the SIAM market, as almost all large enterprises are located in this region. The region’s powerful financial position also allows it to invest heavily in advanced testing tools and technologies. These improvements have provided North American organizations a competitive edge in the market.
The Key players in the Service Integration and Management (SIAM) Market include IBM, Hewlett Packard Enterprise, Wipro, HCL Technologies, DXC Technology, Capgemini, Atos, TCS, Accenture, Fujitsu, Mindtree, Oracle, NTT DATA, Quint Wellington Redwood, ServiceNow, CGI, Cherwell, BAE Systems, Infosys, Little Fish, Keysource, Tieto, 4me, Data Ductus, Sofigate, Sopra Steria, Atos SE,FUJITSU, Oracle, Tata Consultancy Services Limited, Capgemini
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Further key findings from the report suggest
- The Service Integration and Management (SIAM) Market is estimated to reach USD 5.45 Billion by 2026, at a CAGR of 4.9 % during the forecast period.
- The Small and Medium-sized Enterprises (SMEs) segment is anticipated to grow at a higher rate of 5.2% during the forecast period.
- The demand for SIAM is increasing among corporate sectors, since it is effortless and time efficient.
- Services segment is anticipated to grow at a higher rate of 5.2% during the forecast period.
- The application in manufacturing is anticipated to grow at the highest rate of 5.2% during the forecast period.
- APAC is forecasted to be the fastest growing market with the highest rate of 5.3% during the forecast period. The drivers for the growth of this region are the presence of key players, favorable reimbursement policies, and rising use of technology in the emerging countries along with several initiatives taken by the government.
- Various players are developing strategies to mark their presence in the industry.
- The rising adoption of GRC (governance, risk, and compliance) management solutions is a modern trend in service integration and management (SIAM) enterprise.
- Players in the industry are swiftly adopting GRC management solutions to gain consistency in their governance and administration functioning, in both external and internal services.
- For example, Wipro Limited is concentrating on the production of a shared governance and interaction platform and gating mechanism to facilitate governance in the end-to-end service outlined by the vendors in its multi-vendor outsourcing structure.
- R&D initiatives by companies to improve healthy products that have a broad application base are anticipated to create tremendous growth possibilities for industry participants.
To identify the key trends in the industry, click on the link below: https://www.reportsanddata.com/report-detail/service-integration-and-management-siam-market
For the purpose of this study, Reports and Data have segmented the market on the basis of Component Type, Organization size, End User and region:
Component Type Outlook (Revenue, USD Million; 2018-2026)
- Solutions
- Services
Organization size Outlook (Revenue, USD Million; 2018-2026)
- Large Enterprises
- SMEs
End User Outlook (Revenue, USD Million; 2018-2026)
- IT and Telecom
- BFSI
- Manufacturing
- Retail
- Others
Regional Outlook (Revenue, USD Billion ; 2018-2026)
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
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Key Advantages of Service Integration and Management (SIAM) Report:
- Identification and analysis of the market size and competition
- Qualitative and quantitative analysis of the market data
- Data validated by industry experts after extensive primary and secondary research
- Extensive regional analysis of the Service Integration and Management (SIAM) industry
- Profiling of key players along with their business overview, business strategies, deals and partnerships, and product portfolio
- SWOT and Porter’s Five Forces Analysis for in-depth understanding of the competitive landscape
- Feasibility analysis and investment analysis to enable strategic investment decisions
- Analysis of opportunities, drivers, restraints, challenges, risks, and limitations
Conclusively, all aspects of the Service Integration and Management (SIAM) market are quantitatively as well qualitatively assessed to study the global as well as regional market comparatively. This market study presents critical information and factual data about the market providing an overall statistical study of this market on the basis of market drivers, limitations and its future prospects.
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