The global service integration and management market are predicted to grow at 6.0% CAGR during the forecast period with the market size reaching USD 5.4 billion by 2024. The increasing demand for multi-vendor outsourcing, increasing demand for automation in business processes, increasing service management complexities, and the development of cost-effective SIAM framework are the key factors leading to the growth in the SIAM market, globally.
Different vendors across the globe are adopting SIAM solutions for the management of complexities in the business services, especially in the IT and telecom sectors. With the increasing adoption of digital solutions and an abundance of information and data, operations in these industries become very complex, thus requiring automation of these processes. This is anticipated to create immense opportunities for the growth of the SIAM market.
Different players are offering solutions for service integration management to provide error-free, high quality, cost-effective, and efficient service delivery. These solutions also help to reduce labor costs, increase operational efficiencies, and enhance outcomes, thus driving the SIAM market across the globe. However, the dearth of skilled and expert professionals, reluctance in the adoption of new technologies, lack of regulatory compliances are restraining the growth of the market.
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Based on industry, the SIAM market is segmented into energy & utility, BFSI, telecom & IT, transportation & logistics, and retail & manufacturing. The telecom and IT industry is the largest consumer of SIAM solutions across the globe as the telecom industry relies on a multi-vendor environment to offer services by sharing resources.
Europe accounted for the major share in the SIAM industry in 2017, globally due to the high regulatory compliances and high compliance for adopting new technologies by large enterprises, and developed information and communication technology industry in the region. North America and Asia-Pacific are the key regions showcasing immense opportunities for growth in the SIAM market in the coming years. Asia-Pacific SIAM market is highly lucrative owing to its large consumer base, increasing reliance on multi-vendors for services, and the presence of large telecom sectors in the region. Also, developing the IT industry in emerging economies such as India, and the Philippines is creating a suitable business environment for SIAM solution providers.
Market players in the SIAM industry are focusing on strengthening the B2C relationship, and the use of artificial intelligence and automation for catering to the demand of consumers. Atos SE, Hewlett Packard Enterprise (HPE), HCL Technologies Limited, Oracle Corporation, Tata Consultancy Services Limited, BAE Systems plc, DXC Technology Company, IBM Corporation, Capgemini, Accenture PLC, Infosys Limited and Wipro Limited are some of the key players offering solutions in SIAM industry.
Global SIAM Market Coverage
Solution Insight and Forecast 2014-2024
- Business
- Infrastructure
- Training and Support
- GRC Management
- Contract Management
- Procurement
- Auditing and Invoicing)
- Technology
- Application
- Lifecycle Management
- Testing, and Development
- Mobility
- Network
- Security
- Data Center
- Others
Organization Size Insight and Forecast 2014-2024
- Small and Medium Enterprises
- Large Enterprises
Service Insight and Forecast 2014-2024
- Assessment & Advisory
- Consulting & Implementation
- Integration & Automation
Industry Insight and Forecast 2014-2024
- Energy & Utility
- BFSI
- Telecom & IT
- Transportation & Logistics
- Retail & Manufacturing
Geographical Segmentation
SIAM Market by Region
North America
- U.S.
- Canada
Europe
- Germany
- U.K.
- Italy
- France
- Rest of Europe
Asia-Pacific
- China
- India
- Japan
- Rest of Asia-Pacific
Latin America
- Brazil
- Mexico
- Rest of Latin America
Middle East & Africa (MEA)
- South Africa
- U.A.E.
- Rest of MEA
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