Seattle, WA -- (SBWIRE) -- 04/21/2017 -- According to a new market research report "Service Integration and Management (SIAM) Market by Solution (Business Solutions, Technology Solutions), Service (Advisory, Implementation, and Automation), Organization Size, Vertical, and Region - Global Forecast to 2021", published by MarketsandMarkets™, the SIAM market size is expected to grow from USD 2.85 Billion in 2016 to USD 4.35 Billion by 2021, at a Compound Annual Growth Rate (CAGR) of 8.8%.
The major factors that are driving the market includes changing landscapes of service and supplier were more advanced approach for service integration are using multi-supplier contract, rather than a single sourced lead supplier. The increasing demand for improved technology and services in the industry and emerging trend of connected and intelligent devices are influencing the market.
Infrastructure solutions is likely to hold the largest market share in the SIAM market
Increasing globalization and need for advanced infrastructure system is driving the need to develop service integration solutions for the entire industry. Infrastructure solution provides services to organizations searching for the best ways to streamline their operation across the world and thus these service companies are receptive toward the technological advancements for further enhancing their services. The implementation of infrastructure solution has increased owing to the growing number of advanced technologies.
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Application segment is expected to grow at the highest CAGR during the forecast period
The application improvises accessibility, functionality, ownership, and usability area. helps the clients to meet their IT goals and strategic priorities while enabling innovation that drives dynamic top-line growth. Hence, the application segment is important for the organizations as they face considerable challenges in keeping their applications associated and aligned with their business strategies. This helps the organization in increasing the efficiency of their business activities, business analytics & development, revenue management, planning, business operations, and technology.
North America is expected to hold the largest market share in the service integration and management market
As per the geographic analysis, North America is the largest consumer market and is likely to benefit from its technological advancements, further helping in the seamless adoption of SIAM model. Countries such as the U.S., Canada, and Mexico are the major growth drivers of the region. Strong financial position allows these countries to invest heavily in leading tools and technologies in the SIAM market.
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The major vendors covered in the SIAM market include Wipro Limited (Bengaluru, India), Capgemini (Paris, France), HCL Technology Limited (Noida, India), Accenture (Illinois, U.S.), Quint Wellington Redwood (Amstelveen, Netherlands), and Fruition Partners (Chicago, U.S.), TCS (Mumbai, India), Hewlett-Packard Enterprises (California, U.S.), CGI (Quebec, Canada), and Fujitsu (Tokyo, Japan).
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