Service Integration and Management Market to Reach USD 4.35 Billion by 2021

The service integration and management (SIAM) market size is expected to grow from USD 2.85 billion in 2016 to USD 4.35 billion by 2021, at a CAGR of 8.8%. The potential of the multi-supplier ecosystem of vendors is one of the critical factor impacting the SIAM market. The complexity of IT services across multiple industries encourages enterprises to adopt the framework of SIAM. In addition, evolving technological trends such as cloud-based application, platform-as-a-service and big data are also increasing the need to adopt reliable service integrators. Lack of uniform SLA’s and regulatory compliances is one of the prominent impediments for the growth and adoption of the SIAM market.

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SIAM implementation enables the enterprise to generate unified view of demand and consumption for IT services. The SIAM technologies help the IT organization to create better visibility, business agenda, security, and proper control over the operation. The technology solution segment solely blends business and technology experiences to streamline the business activities. The service provider helps in improving the inbound & outbound business processes, workflows, and management systems. Various enterprises hinder in adopting new technologies due to the fear of burdening legacy infrastructure and system. The key benefits of technology solution include a better integration of technology as organization’s requirements, real-time discussion-making, reduced costs of compliance & risk management, security concerns, sketching an infrastructure plan, and enhancing internal functionality.

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The countries included in APAC are Australia, Japan, Singapore, India, China, and New Zealand. APAC is the fastest growing region for the SIAM market. It is witnessing dynamic changes in the adoption of new technologies and advancements in the IT sector. The presence of a large number of internet user and the requirement to develop infrastructure are the major drivers of the market; however, government and local policy and strict regulations are restraining the growth of the market in the region. China plays a vital role in the technological landscape of the APAC region. It is heavily dependent on the technological innovations. Therefore the organizations are drastically adopting SIAM technology solutions to increase the overall operational efficiency and reduce the operating costs.

The rapid development of IT in India, Vietnam, and Philippines is transforming this market. Additionally, the extensive facilities to deploy and manage data applications at an economical cost are enhancing the growth in this region.

In the process of determining and verifying the market size for several segments and sub segments gathered through secondary research, extensive primary interviews were conducted with key people.

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