Service Integration and Management Market Anticipated to be Poised for an Impressive Share by 2025

Global Service Integration and Management Market: Overview

The constant rise in business demands and fierce competition are mandating companies to provide new services and innovative deliverables at competitive prices. Owing to these demands, IT-enabled services are witnessing a significant change in outsourcing trends. As companies increasingly stick to multi-vendor service sourcing strategy, the increased numbers of suppliers are bringing in new challenges. Service integration and management solutions enable companies sourcing services from multiple vendors to effectively manage essential business data related to the multiple suppliers and provide the optimal mix of standardization, flexibility, and innovation.

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Global Service Integration and Management Market: Trends and Opportunities

The rising preference of medium-, small-, and large-scale companies to multi-vendor service sourcing strategies is one of the key factors driving the increased adoption of service integration and management solutions across the globe. The increasingly complex technology landscape, rising demand for business practices with quick deliverables, integration of next-generation services in business models, and cost pressures are also making the implementation of SIAM strategy critical for success. SIAM solutions enable businesses to achieve scalability in delivery without having to deal with disproportionate rise in cost of management of the services portfolio, especially when businesses globalize and strive to outreach unexplored regional territories. 

Global Service Integration and Management Market: Market Potential

Service integration and management models have been around for a long time, but are presently gaining more prominence as businesses deal with the challenges the transformation from the model of sourcing services from a single or small number of providers to services from a large number of small providers. As the services become more complex or critical, the level of service integration also deepens. The business world is presently embracing cloud computing and as an increasing number of businesses rely on cloud services, the demand for service integration and management solutions will increase.

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Companies are spending huge sums on internal and external IT services. However, only a small percentage of companies have mastered their sourcing approach and a massive percentage need to improve their level of competencies in order to successfully manage multi-sourcing. Thus, the scenario holds huge promise for SIAM in the near future. 

Global Service Integration and Management Market: Regional Analysis

In the next few years, Asia Pacific and Europe are expected to be the key driving forces of the global service integration and management market. Developed economies across North America and Europe are presently the leading consumer markets for service integration and management solutions and tools. Presence of technologically advanced IT infrastructures and strong finances are some of the key factors allowing companies in these regions to invest in the implementation of advanced service integration and management solutions.

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Asia Pacific plays a key role in the global service integration and management market owing to the presence of a vast number of IT companies and a well-developed IT outsourcing industry. Presence of some of the world’s leading service integration and management companies in the region also grants it an upper-hand compared to North America and Europe.

Global Service Integration and Management Market: Competitive Overview

The vendor landscape of the global service integration and management market is largely fragmented owing to the presence of a large number of regional and multinational vendors. Intense price pressures and the need for constant qualitative and functional improvements in deliverables are further intensifying the level of competition in the market. Some of the leading players operating in the global service integration and management market are Wipro Limited, Fujitsu Ltd., Hewlett-Packard Enterprise, Oracle Corporation, Atos SE, Accenture, Tata Consultancy Services, and HCL Technologies Limited.

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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