Service integration and management is specially designed to manage different services from various suppliers and creating a channel so that it can be delivered to different clients. There main function is to provide different internal and external services so that businesses can meet their need and requirements. This SIAM is very helpful for the companies as it can merge the different ERP tools such as supply chain management, inventory management, workplace management, inventory management and other IT services. With increasing technologies, business services are very difficult to manage so combining different services will help the company to manage different applications at single IT interface. SIAM is very useful as it improves the network efficiency and performance of the organization.
Some of the factors responsible for the growth of this market are as follow:
The market is segmented based on Component, organization size and Vertical and geographical segments. The component is segmented into solution and services. The solution the market is sub-segmented into business solution sand technology solutions. The business solution is further sub-segmented into contract management, governance, risk and control, procurement, auditing and invoicing. Technological solution is further sub-segmented into applications, infrastructure, training and support. The services market is segmented into advisory, implementation and automation; organization size is segmented into small and medium-sized enterprises and large enterprises and vertical is segmented into IT and telecommunications, banking, financial services and insurance, retail, manufacturing, energy and utilities, transportation and logistics, and others
Some of the launches in the market are:
“According to Data Bridge Market Research, global service integration and management market is expected to reach USD 5.4 billion by 2025 at a substantial CAGR in the forecast period of 2018 to 2025”
Some of the major players in global service integration and management market are IBM, Capgemini, HCL Technologies , DXC Technology, Atos , TCS, Wipro, 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 and many more.
Using SIAM is very beneficial for the businesses as they have ability to provide good services to the end- users, is very cost friendly, development of the intellectual properties, increases accountability, and helps the provide access to the expertise across different suppliers. SIAM helps the company by providing them single platform where they can manage their IT service providers and also mutualize their contributions. These are some of the factors which are creating further opportunities for this market.
Global Service Integration and Management Market– Industry Trends and Forecast to 2025