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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customization of the report @ https://www.reportsanddata.com/request-customization-form/1623
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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