Service Integration and Management (SIAM) Market Size, Share, Development, Growth, and Demand Forecast, 2013–2023
New York, NY -- (SBWIRE) -- 07/31/2018 -- Service integration and management (SIAM) refers to the management, governance, and coordination of services, such as business and IT, provided by multiple suppliers and integration of these services to provide a solo business-facing service model. Some companies use the terms SIAM and multisourcing service integration (MSI) interchangeably. The purpose of SIAM is to create and ensure conducive conditions for collaborations by aligning multiple service provider ecosystems with the end-user's demands. The global SIAM market has witnessed a decent growth during the last few years and it is projected to show a decent pace during the forecast period. Cost reduction, value enhancement, and service quality enhancement leading to process efficiency are the major factors responsible for the high growth of the global service integration and management market.
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Globally, the North American SIAM market is projected to stand as the second largest in the world for the next few years. North American countries, such as the U.S. and Canada, are expected to garner major shares in the global SIAM market on account of widespread adoption of advanced technologies by organizations in a bid to improve operational efficiency. Telecom & IT has been leading the growth of the North American SIAM market. Revenue contribution through this industry is also expected to remain the largest in the regional market throughout the forecast period. The top three industries—telecom and IT; retail and manufacturing; and energy and utility are expected to contribute more than 50% to the North American SIAM market by 2023.
Companies like IBM, HCL, Accenture, TCS, HP, Capgemini, CSC, Wipro, and Atos are closely ranked in the leader segment. Among these SIAM suppliers, most of them are India-centric, making APAC a strong ground for the SIAM market growth. Companies such as HCL, TCS, and Wipro are competing for higher ranking and market leadership by providing sophisticated and industry-specific outsourcing capabilities.
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Established global players, such as Accenture, Atos, and Capgemini, on the other hand, are competing with companies like HP and CSC on the basis of contrasting outsourcing services. A group of companies, given just below closely packed leaders, are strong performers. Companies such as GWA, Fujitsu, and CGI are gaining momentum by aligning their offerings with their clients' needs. They are more prominent in North America and Europe.
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