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The service integration and management market share is expected to increase by USD 1.39 billion from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 5.81%.
This service integration and management market research report provides valuable insights on the post-COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers service integration and management market segmentation by application (IT and telecom, BFSI, retail, manufacturing, and others) and geography (North America, Europe, APAC, South America, and Middle East and Africa). The service integration and management market report also offers information on several market vendors, including Atos SE, BAE Systems Plc, Capgemini Service SAS, CGI Inc., Data Ductus, DXC Technology Co., Fujitsu Ltd., HCL Technologies Ltd., Infosys Ltd, International Business Machines Corp., Mindtree Ltd., NTT DATA, Inc., Oracle Corp., Quint Holding B.V., ServiceNow Inc., Sofigate Group Oy, Sopra Steria Group SA, Tata Consultancy Services Ltd, TietoEVRY Corp., and Wipro Ltd among others.
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The growing implementation of software as a service (SaaS) is notably driving the service integration and management market growth, although factors such as growing cybersecurity challenges may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the service integration and management industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Service Integration and Management Market Driver
One of the key factors driving growth in the service integration and management market is the growing implementation of Software as a Service (SaaS). SaaS is an alternate way of delivering software solutions using the Internet. Third-party software providers host the software application, and end-users access it using the Internet. SaaS helps to reduce the number of software installed in manufacturing plant premises, thereby reducing the overall cost of software solutions. The implementation of SaaS for automation services will help in decreasing the cost of upgrading legacy automation software. Thus, the improvements in automation technologies and the growing need to upgrade the overall automation software solutions will increase the demand for SaaS in industrial premises, providing new growth opportunities for vendors in the SIAM market during the forecast period.
Key Service Integration and Management Market Trend
The increasing demand for low-cost IT infrastructure is a service integration and management market trend that is expected to have a positive impact in the coming years. In recent years, IT firms have doubled their expenditure on IT infrastructure procurement and maintenance to meet the growing demand for IT usage and remain competitive in the market. The increased spending adds up to the operating cost. With cloud backup and recovery, most organizations expect a significant reduction in their functional costs, as considerable capital is required to maintain IT infrastructure. The implementation of cloud backup and recovery solutions allows organizations to save the annual operating expense (OPEX); cloud storage costs nearly four cents per gigabyte to store data internally. Cloud service providers offer servers, storage space, and hardware. Organizations do not pay for the data center setup costs and pay only for the used services. Such factors fuel the demand for cloud-based IT infrastructure services across the end-user industries, fostering the growth of the global SIAM market.
Key Service Integration and Management Market Challenge
The growing cybersecurity challenges will be a major challenge for the service integration and management market during the forecast period. Cybersecurity is crucial in end-user industries. With the new regulatory compliances on data protection, such as the General Data Protection Regulation (GDPR), enterprises are forced to consider the security of data assets as one of the prime areas of importance. Virtualization and containerization pose considerable challenges to enterprises over data security. In virtualization, the migration of applications from one host machine to another occurs without any interruptions in the virtual environment. However, the event of unsecured migration creates chances for cyberattacks. A major concern over containerization is that a hacker can hack a container and subsequently access the host system. As a result of these factors, the growth of the market in focus will be hindered during the forecast period.
This service integration and management market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Technavio categorizes the global service integration and management (SIAM) market as a part of the global specialized consumer services market within the global diversified consumer services market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the service integration and management market during the forecast period.
The report analyzes the market’s competitive landscape and offers information on several market vendors, including:
This statistical study of the service integration and management market encompasses successful business strategies deployed by the key vendors. The service integration and management market is fragmented and the vendors are deploying growth strategies such as focusing on innovation to compete in the market.
To make the most of the opportunities and recover from post-COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The service integration and management market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the service integration and management market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
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36% of the market’s growth will originate from North America during the forecast period. The US is the key market for service integration and management in North America. Market growth in this region will be faster than the growth of the market in the European, MEA, and South American regions.
The region is an early adopter of advanced technologies in the telecommunication, manufacturing, retail, and BFSI industries, which, in turn, enhances the demand for SIAM solutions in the region. This will facilitate the service integration and management market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
The outbreak of COVID-19 led to a slump in the economy of the US and other North American countries in 2020. This led to the shutdown of numerous companies across end-user industries such as IT and Telecommunications, BFSI, manufacturing, retail, and others. However, SIAM solution providers witnessed increased demand during the initial pandemic lockdowns, as numerous functions in most end-user industries in the region were forced to perform their business operations online.
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The service integration and management market share growth in the IT and telecom segment will be significant during the forecast period. Rising demand for service integration outsourcing and the establishment of IT operation units are the primary factors driving the growth of the service integration and management (SIAM) market globally. In addition, the presence of several established telecommunication companies increases competition among vendors of this market, driving the demand for IT solutions that are rapidly implemented with low upfront costs, further fostering the growth of the global SIAM market during the forecast period.
This report provides an accurate prediction of the contribution of all the segments to the growth of the service integration and management market size and actionable market insights on the post-COVID-19 impact on each segment.
Service Integration and Management Market Scope |
|
Report Coverage |
Details |
Page number |
120 |
Base year |
2021 |
Forecast period |
2022-2026 |
Growth momentum & CAGR |
Accelerate at a CAGR of 5.81% |
Market growth 2022-2026 |
$ 1.39 billion |
Market structure |
Fragmented |
YoY growth (%) |
5.24 |
Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
Performing market contribution |
North America at 36% |
Key consumer countries |
US, China, Japan, Germany, and UK |
Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
Key companies profiled |
Atos SE, BAE Systems Plc, Capgemini Service SAS, CGI Inc., Data Ductus, DXC Technology Co., Fujitsu Ltd., HCL Technologies Ltd., Infosys Ltd, International Business Machines Corp., Mindtree Ltd., NTT DATA, Inc., Oracle Corp., Quint Holding B.V., ServiceNow Inc., Sofigate Group Oy, Sopra Steria Group SA, Tata Consultancy Services Ltd, TietoEVRY Corp., and Wipro Ltd |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID -9 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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