Global Service Integration and Management Market
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.
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Some of the factors responsible for the growth of this market are as follow:
- Rising demand for rise in outsourcing of service integration: The cloud is transforming the business model and SIAM is very important for the businesses as they have the ability to handle their hybrid IT environment. The SIAM help the company to improve their customer experience, improve speed and agility, provide efficiency & stability, and create responsive sourcing strategy. This also helps the business to adapt the changes and challenges in the market and help them to get cost effective and service level improvements
- Growing demands in small and medium enterprises: SIAM these days are highly adopted by the business because they have the ability to simplify the supplier management. These days many SME started using these services it has the ability to decrease the cost of managing different services and can also improve the whole IT management process and services. SIAM help them to effectively manage all their services and also provide other features such as issue tracking & escalation, problem resolution, full SLA support and others
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:
- In March 2017, EXIN and BCS announced the launch of their new certification program Service Integration and Management: EXIN BCS SIAM Foundation. The main aim of the launch is to help the service managers so that they can expand their knowledge in service integration and management
- In September 2015, HCL technologies announced the launch of their new Digital Service Exchange platform which is specially designed to provide Service Integration and Management (SIAM) capabilities to the business so that they can get services easily in their organizations. The main aim of the launch is to help the business to automate the tasks so that they can improve their performance. It also have customizable and intuitive role-based user interface which is flexible and easy to use
“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.
