In a recently published report, Service Integration and Management (SIAM) Market report for till 2030. The report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U S Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analysis and U.S. Census Bureau mention the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) average exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilst imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Service Integration and Management (SIAM) Market products.
“Final Report will add the analysis of the impact of COVID-19 on this industry.”
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Moreover, increase in ICT spending around the globe for hardware, software, services, new technologies and telecom among others is also anticipated to contribute to the growth of the market in the coming years. The spending on new technologies recorded around USD 0.6 million in 2018 and is further estimated to reach close to USD 1.3 million by 2023. The total ICT spending around the globe further recorded close to USD 5 million in 2019 and is further.
Service integration and Management enables managing various suppliers of service providers and integrating them together in order to provide a single business faced IT organization. The cost efficiency and service providence through this integration are the key drivers for the market growth of a market. Convenience and ease of operations are delivered as customer has to communicate with a single point of contact i.e. a single company at the frontend to tackle operations and problems related to it while various companies and service providers integrate at backend. Due to growing digitization, many companies have adopted online platform to provide the IT services which gives rise to the options available for the customer to choose service provider.
As per Statista is April 2020, global online penetration rate is 59% of the world population motivating digital advertisements and enhancing the growth of the market. With integration of services, topnotch services of various companies could be provided to a single client which enhances its adaptation and ensures value proposition. With the help of this model, innovative technologies could be inhibited, proper use of skills and resources are benefitted whereas reduction in the process cost is incurred which enhances the uses of service integration. Mergers and acquisition strategies adopted by key players in the market in order to expand the reach and gain a larger market share.
For Instance: Accenture PLC in May 2018 acquired UK based Certus Solution to strengthen the delivery on Oracle cloud based operations. Also, in December 2017, Siemens, a German equipment maker collaborated with HCL India in order to expand the IoT platforms and developed advanced tools and techniques to create a differentiation among existing products. However, lack of willingness among the service providers to support the process of integration is a major restraining factor which impedes the growth of the market over the forecast period of 2020-2027.
The regional analysis of global Service Integration and Management (SIAM) market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading/significant region across the world owing to rise in investments for private construction and construction of new residential buildings. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2027. Factors such increase in the construction sector and rise in demand for cold storages and ware houses due to growth in food and beverage industry would create lucrative growth prospects for the Service Integration and Management (SIAM) market across Asia-Pacific region.
Major market player included in this report are:
Capgemini SE (France)
HCL Technologies Limited (India)
Hewlett Packard Enterprise Company (US)
TATA Consultancy Services Limited (India)
Wipro Limited (India)
Atos (France)
Accenture plc (Ireland)
CGI Inc. (Canada)
Fujitsu Limited (Japan)
Oracle Corporation (US)
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The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.
The detailed segments and sub-segment of the market are explained below:
By Type:
Automation Services
Implementation Services
Advisory Services
By Application:
Telecom
Manufacturing
BFSI
Energy & Utility
Others
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2017, 2018
Base year – 2019
Forecast period – 2020 to 2027
Target Audience of the Global Service Integration and Management (SIAM) Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors
Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & forecasts, 2018-2027 (USD Billion)
1.2.1. Service Integration and Management (SIAM) Market, by Region, 2018-2027 (USD Billion)
1.2.2. Service Integration and Management (SIAM) Market, by Type, 2018-2027 (USD Billion)
1.2.3. Service Integration and Management (SIAM) Market, by Application, 2018-2027 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Service Integration and Management (SIAM) Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Scope of the Study
2.2.2. industry Evolution
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global Service Integration and Management (SIAM) Market Dynamics
3.1. Service Integration and Management (SIAM) Market Impact Analysis (2018-2027)
3.1.1. Market Drivers
3.1.2. Market Challenges
3.1.3. Market Opportunities
Chapter 4. Global Service Integration and Management (SIAM) Market: Industry Analysis
4.1. Porter’s 5 force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
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