Increased Preference for Multi-vendor Sourcing Services to Fuel Market Growth

San Francisco, California, January 25, 2018: Intense competition and continuous upsurge in the business demands are mandating the market players to come up with new deliverables that are innovative and services at competitive rates. Due to these demands, services that are IT-enabled are experiencing a substantial change in their trends of outsourcing, notes TMR Research in its newest report. The report bearing the title, “Service Integration and Management Market – Global Industry Analysis, Size, Share, Trends, Analysis, Growth, and Forecast 2017 – 2025” delves into the past, current and future scenario of the said market. In accordance with the report, the players pertaining to the market for service integration and management are increasingly sticking to the strategy of multi-vendor sourcing service. Furthermore, with growing number of suppliers comes increasing number and variety of new challenges. Companies that are dealing with service integration and management solutions are going for sourcing services from various different market vendors so as to effectively manage the important data of business that are related to numerous suppliers and offers optimum mix of innovation, flexibility, and standardization.

The soaring preference for large scale, medium scale, and small scale companies for the strategy of multi-vendor service sourcing is one of the key factors that are fuelling the augmented adoption of service integration and management solutions worldwide. The increasingly complicated landscape of technology, soaring demand for business practices that comes with pressures of cost, quick deliverables, and incorporation of next-generation services in various business model are further making the implementation of the strategy of service integration and management crucial for the success. Service integration and management solutions ensures that various businesses gets scalability in delivery bypassing the disproportionate rise in cost of the services portfolio management, particularly when businesses go for globalization and strive for reaching unexplored geographical territories.

On the basis of geography, the market is segmented into Latin America, Asia Pacific, North America, Europe, and the Middle East and Africa. Over the next couple of years, the region of Europe and Asia Pacific are estimated to be the key drivers for the international market for service integration and management. Developed nations across the continents of Europe and North America are currently spearheading the world market for service integration and management solutions. Existence of robust IT infrastructure that are technologically advanced and sound finances are a few of the prime factors that are enabling various companies in these geographies to make an investment in the implementation of advanced service integration and management solutions.

Furthermore, Asia Pacific plays a crucial role in the world market for service integration and management due to the existence of a large number of well-developed IT outsourcing industry and IT companies. Besides, strong presence of a few of the world’s major service integration and management companies in the region of Asia Africa and the same grants it an edge when compared to North America and Europe.

Some of the prominent market players that are operating the world market for service integration and management market are HCL Technologies Limited, Hewlett-Packard Enterprise, Wipro Limited, Tata Consultancy Services, Oracle Corporation, Accenture, Fujitsu Ltd, and Atos SE.

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