NEW YORK, Sept. 20, 2018 /PRNewswire/ -- Read the full
report: https://www.reportlinker.com/p05090297
The global service integration and management (SIAM) market size is
expected to grow from USD 3.67
billion in 2018 to USD 4.85
billion by 2023, at a Compound Annual Growth Rate (CAGR) of
5.7% during the forecast period. Major growth factors for the
market include increasing complexities of service management,
growing use of cost-effective SIAM framework, and a growing demand
for multi-vendor outsourcing. However, lack of uniform
Service-Level Agreements (SLAs) and stringent regulations could
restrain the market growth.
Services component segment to grow at a higher CAGR during the
forecast period
Services play a vital role in the overall SIAM market, as these
services help enterprises in the effective functioning of the
entire IT infrastructure system, along with specific advisory and
implementation services for digital transformation of business
processes.SIAM helps seamlessly integrate interdependent services
from a multitude of internal and external service providers into
single end-to-end services to meet business requirements.
SIAM services are gaining traction among enterprises, as they are
cost-efficient with no requirement to purchase, install, and
maintain the system.
North America to hold the
largest market size, and Asia
Pacific to grow at the highest rate during the forecast
period.
North America is expected to hold
the largest market size in the global SIAM market, as it is a
technologically advanced region.The US and Canada are major contributors to the growth of
SIAM market.
These countries have been implementing SIAM solutions extensively
with the increasing adoption of enterprise mobility solutions.The
North American SIAM market is growing, owing to the adoption of
cloud, commoditization of IT operations, and progression of
third-party platforms, such as social, mobile, analytics, and
IoT.
As several companies based in the US are expanding their presence
across the globe, they need to outsource many of their services to
provide effective and efficient core services to their respective
clients. The increasing need for outsourcing of services has led
them to adopt the SIAM solutions to manage multiple vendors.
APAC is projected to grow at the highest CAGR during the forecast
period.The region is witnessing dynamic changes in the adoption of
new technologies and advancements in the IT vertical.
APAC companies' IT budget is rising growing, and a major portion of
the budget is being spent on regulatory compliance and in
implementing better reporting standards.The increasing global
competition and the high economic growth in the emerging countries,
such as China and India, are boosting the growth of SIAM market
in APAC.
China plays a key role in the
technological landscape of APAC and is heavily dependent on
technological innovations. Hence, organizations are rapidly
adopting the SIAM solutions to increase the overall operational
efficiency and reduce the operating costs.
In the process of determining and verifying the market size of
several segments and subsegments gathered through secondary
research, extensive primary interviews were conducted with the key
people. The primary participants' profile breakup is as
follows:
• By Company: Tier 1 – 30 %, Tier 2 – 40%, and Tier 3 – 30%
• By Designation: C-Level – 72%, Director Level – 14%, and Others –
14%
• By Region: North America – 57%,
Europe – 14%, APAC, and ROW –
29%
Major vendors in the global SIAM market include IBM (US), Capgemini
(France), HCL Technologies (India), DXC Technology (US), Atos (France), TCS (India), Wipro (India), Accenture (Ireland), Fujitsu (Japan), Mindtree (India), Oracle (US), NTT DATA (Japan), Quint Wellington Redwood (Netherlands), ServiceNow (US), and CGI
(Canada). Other players include
Cherwell (US), BAE Systems (UK),
Infosys (India), Little Fish
(England), Keysource (UK), Tieto
(Finland), 4me (US), Data Ductus
(Sweden), Sofigate (Finland), and Sopra Steria (France).
Research Coverage:
The report includes an in-depth competitive analysis of key players
in the global SIAM market, along with their company profiles,
recent developments, and key market strategies. The report segments
the global SIAM market by component (solution and services),
business solutions, technology solutions, organization size,
vertical and regions.
Reasons to Buy the Report:
The report on the global SIAM market will help market
leaders/new entrants in the market in the following ways:
1. The global SIAM market size has been derived from the revenues
generated by vendors offering dedicated SIAM solutions and services
that help various enterprises to manage their multiple vendors
across business operations. Whereas, the market scope excludes the
revenue generated from third-party managed service providers. The
report provides the closest approximations of the revenue numbers
for the overall market and subsegments. The market numbers are
further split into regions.
2. The report helps stakeholders understand the pulse of the market
and provides them with information on the key market drivers,
restraints, challenges, and opportunities.
3. The report helps stakeholders to understand competitors and gain
more insights to better their market position. The competitive
landscape section includes competitor ecosystem, new product
developments, partnerships, and mergers and acquisitions.
Read the full report: https://www.reportlinker.com/p05090297
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