The global service integration and management (SIAM) market size was US$ 4.99 billion in 2021 and is expected to reach USD 8.2 billion by 2030, registering a compound annual growth rate (CAGR) of 6.8% during the forecast period from 2022-2030.
Factors Influencing
- With the growing demand for automation for various business processes, multi-vendor outsourcing is forecast to fuel market growth. SIAM solutions help manage the complexities in business services. Thus, the market would grow significantly, mainly in the IT and telecom sectors.
- The advancements and development of a cost-effective SIAM framework may benefit the global service integration and management (SIAM) market during the study period. Various service providers are offering error-free, cost-effective, and high-quality solutions that can further reduce labor costs and increase operational efficiencies and outcomes. As a result, it would accelerate the growth of the global service integration and management (SIAM) market.
- The rising adoption of digital solutions and massive data may offer favorable growth opportunities to the market players in the global service integration and management (SIAM) market.
- Lack of uniformity in service integration management solutions may hamper the growth of the global service integration and management (SIAM) market.
Regional Analysis
Geographically, Europe is forecast to emerge as the rapidly growing region in the global service integration and management (SIAM) market. The region holds the largest share, owing to the growing information and communication technology industry and increasing adoption of new technologies by large enterprises worldwide.
North America and the Asia-Pacific region are forecast to offer lucrative growth opportunities for the market players in the Asia-Pacific service integration and management (SIAM) market. It is due to the increasing consumer base and the existence of prominent telecom businesses in the region. Also, the rapidly growing IT industry in emerging economies like India and the Philippines would create suitable business opportunities for SIAM solution providers.
COVID-19 Impact Analysis
The COVID-19 pandemic surged the demand for automation in business processes. Thus, it fueled the growth of the global service integration and management (SIAM) market. Business process automation (BPA) enhances service quality and helps improve service delivery. Thus, the market players would witness ample growth opportunities post-pandemic. However, various businesses had to stop the operations, which negatively impacted the market growth.
Competitors in the Market
- 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
- Wipro Limited
- Other prominent players
Market Segmentation
By Component:
By Solution:
- Business solutions
- Technology solutions
By Business Solutions:
- Contract management
- Governance, risk, and control
- Procurement
- Auditing and invoicing
By Technology Solutions:
- Applications
- Infrastructure
- Training and support
By Service:
- Advisory
- Implementation
- Automation
By Organization Size:
- Small and medium-sized enterprises
- Large enterprises
By Vertical:
- IT and Telecommunications
- Banking, financial services, and insurance
- Retail
- Manufacturing
- Energy and Utilities
- Transportation and Logistics
- Others (Healthcare and Government)
By Region
- North America
- The U.S.
- Canada
- Mexico
- Europe
- Western Europe
- The UK
- Germany
- France
- Italy
- Spain
- Rest of Western Europe
- Eastern Europe
- Poland
- Russia
- Rest of Eastern Europe
- Asia Pacific
- China
- India
- Japan
- Australia & New Zealand
- ASEAN
- Rest of Asia Pacific
- Middle East & Africa (MEA)
- UAE
- Saudi Arabia
- South Africa
- Rest of MEA
- South America
- Brazil
- Argentina
- Rest of South America
