Service Integration and Management (SIAM) Market Will Reach $5.1 Billion by 2023 and Is Growing at a CAGR of 9.4% During 2018 – 2023

Global service integration and management market was valued at $2.9 billion in 2017 and is forecasted to witness a CAGR of 9.4% during 2018–2023 and will reach $5.1 billion by 2023. Cost reduction, value enhancement, and service quality enhancement leading to process efficiency are the major factors responsible for the high growth of the global service integration and management market. Improvement in service quality leads to smoother flow of end-to-end processes, which include maintaining coordination between the customer organization and service providers and enabling the customer organization to easily switch between the service providers, if needed, to ensure quality. This not only ensures consistent management of services and access to top-notch service technologies but also allows sharing of knowledge and continual improvement in services.

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The service integration and management market is categorized into technology and business; of which, the business category is projected to witness higher growth during the forecast period. This is because of the increasing investments in governance strategies and procurement activities by many global players. Based on the organization type, large enterprises are expected to continue generating a larger share of the service integration and management revenues, as compared to small and medium enterprises (SMEs).

Europe is expected to continue being the largest service integration and management market in the forthcoming years, on account of the growing need of organizations to adapt their IT system infrastructure to the changing information services environment. Because of the increasing usage of SaaS and IaaS cloud services by the European companies, the demand for the service integration and management model is also growing in the region.

Lack of flexibility in business models can be viewed as an opportunity for growth of the service integration and management market. Many organizations face flexibility issues while implementing changes in their process flow, which often generates the need for a flexible model such as muti-vendor outsourcing. At present, many organizations are implementing a stable model, but with the increasing adoption of a dynamic multi-vendor outsourcing model, this model is expected to have increased prevalence in the near future.

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Some of the key players operating in this market are Oracle Corporation, Hewlett Packard Enterprise (HPE), International Business Machines Corporation (IBM), HCL Technologies Limited, Infosys Limited, Mindtree Limited, Capgemini SE and Atos SE.

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