USD 4.65 Billion
Service Integration and Management Market Size, Share, Growth Analysis, By Component(Solution and Services), By Organization Size(Small and Medium-sized Enterprises, and Large Enterprises), By Vertical(IT and Telecommunications, Banking, Financial Services and Insurance, Retail), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG45F2141 |
Region:
Global |
Published Date: April, 2024
Pages:
196
|Tables:
92
|Figures:
73
Service Integration and Management Market Insights
Global Service Integration and Management Market size was valued at USD 4.65 Billion in 2022 and is poised to grow from USD 4.95 Billion in 2023 to USD 8.2 Billion by 2031, growing at a CAGR of 6.5% in the forecast period (2024-2031).
The size and complexity of the IT infrastructure is growing rapidly due to the increasing demand for computing. These needs are met by larger, better networks, and server storage infrastructure. When an integrated service is used for a company’s needs, it costs less and results in a higher level of service. A growing number of service providers has helped raise quality standards, and greater competition has helped the market grow. With so many service providers, it is necessary to manage all services efficiently. Much of the service integration in enterprises today is done internally, resulting in disproportionately large IT teams. As a result, many customers choose to manage their outsourcing services through a single vendor. The projects can be used to focus on their core tasks and activities by utilizing available resources and reducing primary programming costs by increasing and refining their integrated marketing on the increasing incident to increase the capacity of the purpose of increasing the performance, new systems of the old system. They also help facilitate transportation.
Market Snapshot - (2024-2031)
Global Market Size
Largest Segment
Solution
Fastest Growth
Services
Growth Rate
6.5% CAGR
Global Service Integration and Management Market ($ Bn)
Country Share for North America Region (%)
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Service Integration and Management Market Segmental Analysis
Based on component, the service integration and management market are segmented into solutions, and services. Based on organization size, the service integration and management market are segmented into small and medium-sized enterprises, large enterprises. Based on vertical, the service integration and management market are segmented into IT and telecommunications, banking, financial services and insurance, retail, manufacturing, energy and utilities, transportation, logistics and others. Others are further segmented into healthcare and government. Based on region, the market is analyzed across North America, Europe, Asia-Pacific, Latin America and MEA.
Analysis by Vertical
The IT and telecom section in the enterprise class is the dominating segment in the market. This segment reflected a value of approximately US$ 2.2 Bn and is projected to reach a valuation greater than US$ 4 Bn via the stop of the evaluation duration. This section indicates a gradual increase in charge during the forecast's duration. The higher sales technology may be attributed towards the increasing digitalization in business techniques internationally.
Healthcare is the fastest growing segment in the market. The healthcare phase inside the industry category is likewise catching steam and is poised to mirror a better ability in the coming years. The healthcare section is projected to grow at a strong CAGR of 10.9% during the period of evaluation, 2017-2027 and is expected to attain a fee of approximately US$ 2.8 Bn via the end of the forecasted year from an insignificant US$ 990 Mn in 2017. This fantastic boom within the healthcare industry phase has contributed to the overall growth of the worldwide provider integration and management marketplace.
Analysis by Component
The solutions segment is dominant in the global service integration and management marke4. This is especially true because implementing SIAM requires expertise in managing complex IT environments, coordinating services from multiple vendors, and aligning IT with business objectives. Organizations often rely on specialist professionals to navigate the complexities of SIAM implementation to ensure successful outcomes.
The services tend to be the fastest segment and show the greatest growth. In addition, the service component includes ongoing support and management of projects, which is essential to maintain operational efficiency and ensure the effectiveness of integrated IT services over time. As organizations recognize the importance of effectively integrating service and optimize applications to drive digital transformation and enhance customer experience.
Global Service Integration and Management Market By Component (%)
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Service Integration and Management Market Regional Insights
The North American region is expected to dominate the global service integration and management market during the forecast period 2024-2031. The North America region is expected to account for the largest market share. Basic and growing adopters of cloud, commoditized IT services, social and mobile analytics, IoT and other leading players are on the way, so all are key developments for the market in the region. While some organizations in the U.S. increase their global footprint, they must outsource some functions to provide effective and efficient services to their global customers SIAM solutions were used to manage different vendors as they needed to provide services to others. As a result, many suppliers in North America are aiming to add SIAM solutions as a component of their systems, enabling greater mobility.
Asia-Pacific (APAC) plays a dominant role in the global service integration and management market, driven by the region’s rapid economic growth, increasing digitization and adoption of cloud-based services. APAC is the fastest growing region in terms of IT revenue, one of the wasted and digital transformation processes. As organizations in the region expand their IT infrastructure and embrace cloud-based services, the need for better integration and operational solutions increases. Many organizations in APAC use an outsourcing is being used for IT services to improve efficiency and cost effectiveness. SIAM solutions and services play a key role in connecting and managing these outsourced services, creating demand in the region.
Global Service Integration and Management Market By Geography
- Largest
- Fastest
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Service Integration and Management Market Dynamics
Drivers
Increasing Complexities in Provider Control across Industries
- Managing services throughout one-of-a-kind industries has become increasingly complex, mainly due to a surge in demand for service integration and control (SIAM) solutions. This rise in demand is due to different factors, together with the proliferation of provider providers in transportation, hospitality, and on-call for offerings, in addition to technological advancements that require agencies to conform to changing customer possibilities and embrace digital answers. These elements have led to the increased adoption of numerous software program applications, statistics sources, and platforms, that could similarly complicate service management. SIAM can be a virtual solution that centralizes these technological components, streamlining commercial enterprise provider management.
Increased Acceptance of Outsourcing
- The growing trend of outsourcing business functions has been a major driver of the global service integration and management market. As organizations increasingly seek to focus on their core competencies, they turn to outsourcing partners to better manage non-core projects. SIAM helps integrate and manage these outsourcing services, ensuring efficiency, cost effectiveness and service delivery efficiency.
Restraints
Application Complexity
- A key mandate of the global service integration and management market is its application complexity. Integrating different services from multiple vendors to ensure a smooth operation can be difficult. Organizations often face issues of administrative, governance and cultural differences between service providers, which can hinder the effective implementation of SIAM programs.
Resistance to Change in Organization
- New imperatives and resistance to change in organizations. Implementing SIAM often requires significant changes in processes, organizational structure, and culture. Resistance from employees and stakeholders accustomed to existing business models may slow the adoption of SIAM practices. Overcoming this resistance and ensuring buy-in at all levels of the organization is critical to successful implementation and reaping the benefits of SIAM.
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Service Integration and Management Market Competitive Landscape
Global service integration management market competitive landscape provides detailed information by competitors. Detailed information includes company overview, company financials, earnings, market potential, investment in research and development, new market strategy, global presence, manufacturing regions and locations of production, manufacturing capacity, company strengths and weaknesses, product launches, product expansion and expansion, application authority. The data points above relate only to the perspectives of companies involved in the global service integration and management market.
Top Player’s Company Profiles
- HCL Technologies
- Hewlett Packard Enterprise (HPE)
- IBM Corporation
- Infosys Limited
- Mindtree Limited
- Capgemini SE
- AtoS SE
- Accenture PLC
- Fujitsu Limited
- Wipro Limited
- NTT DATA (Japan)
- Quint Wellington Redwood (Netherlands)
- ServiceNow (US)
- CGI (Canada)
- Cherwell (US)
- BAE Systems (UK)
- Little Fish (England)
Recent Developments
- September 2021 - HCL Technologies (HCL) launches HCL Cisco Ecosystem Unit dedicated to developing solutions to help customers accelerate their digital transformation HCL's Cisco Ecosystem Unit will develop knowledge, solutions and business outcome models using Cisco technology will be used. Its goal is to enable complex transformations such as software-defined network transformation, network-as-a-service, digital enterprise, multi-cloud modernization, hyper-automation, security, advanced application experience, private 5G, and telco modernization has been successful.
- July 2021 - XYPRO Technology Corporation (XYPRO), announced that it is expanding its partnership with Hewlett Packard Enterprise (HPE) to offer its full suite through HPE's Non-Stop system The expansion will help XYPRO expand critical database implementation, security and integration of existing solutions using new markets.
- August 2021 - Perspecta Enterprise Solutions LLC, with Capgemini Government Solutions LLC as the Contractor Team Arrangement (CTA) leader, as a CTA member, issued an award, firm-fixed-price, blanket purchase agreement (BPA) with a fixed term of US$2 billions of dollars. BPA HT001521A0002 stands for Army Health System Industry Information Technology Industry Integration (EITSI). EITSI will use a multisource service integration approach to plan, coordinate, and manage Defense Health Agency (DHA) IT transformation to integrate services and reduce costs.
Service Integration and Management Key Market Trends
- Increasing Demand for Cost-effective IT Infrastructure: The increasing demand for cost-effective IT infrastructure is an ongoing trend in global service integration and management market which is expected to have a positive impact in the coming years In recent years IT companies have increased their spending in doubling the purchase and maintenance of IT services to meet the increasing demand for IT services, competition in the market and sustaining higher costs includes operating costs. With the implementation of cloud backup and recovery, most organizations expect a significant reduction in their operational costs, as capital is needed to maintain IT infrastructure Implementation of cloud backup and recovery solutions for organizations can save annual operating expenses (OPEX) Cloud storage for data storage costs about four cents per gigabyte. Cloud service providers provide servers, storage space and hardware. Organizations do not pay for data center installation and only pay for services used. Such trends are increasing the demand for cloud-based IT infrastructure among end-user industries, driving the growth of the global service integration and management market.
Service Integration and Management Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
The growing investment and growth in IT and telecommunication and BFSI industry in the region is expected to create opportunities in the market. The size and complexity of the IT infrastructure is growing rapidly due to the increasing demand for computing. These needs are met by larger, better networks, and server storage infrastructure. SLAs are an integral part of IT vendor agreements. It is important to set boundaries and expectations for providing excellent service.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 4.65 Billion |
| Market size value in 2031 | USD 8.2 Billion |
| Growth Rate | 6.5% |
| Base year | 2023 |
| Forecast period | (2024-2031) |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Service Integration and Management Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Service Integration and Management Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Service Integration and Management Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Service Integration and Management Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Service Integration and Management Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Service Integration and Management Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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