Status : Published | Published On : Aug, 2022 | Report Code : VRICT5127 | Industry : ICT & Media | Available Format : | Page : 202 |
The global Service Integration and Management (SIAM) Market is estimated to be valued at USD 4.8 billion in 2023 and is expected to reach USD 7.2 billion by 2030, growing at a CAGR of 6.1% during the forecast period (2025–2030). The major factor fueling the growth of the market include increasing demand for multi-vendor outsourcing, increasing demand for automation in business processes, increasing service management complexities, and the development of a cost-effective SIAM framework. Different business and technology solutions are contributing to the SIAM market size, globally.
Market Segmentation
Insight by Solution
Based on solutions, the SIAM market is categorized into business solutions and technology solutions. Among the two categories, technology solutions hold a larger share in the market and the business solutions market size is anticipated to witness higher growth in the market during the forecast period. The business solutions are further categorized into governance, risk, and compliance (GRC) management, contract management, procurement, and auditing and invoicing. Of all the business solutions categories, procurement solutions hold the largest share in the market whereas the GRC management solutions market is anticipated to grow at the fastest CAGR during the forecast period.
The technology solutions market is further segmented into application, infrastructure, and training and support. Of all the categories the SIAM business solutions market for infrastructure category generated the largest revenue in 2023 and is anticipated to remain the largest category during the forecast period. The application technology solutions market is sub-segmented into lifecycle management, testing, and development; and the infrastructure technology solutions market is sub-segmented into mobility, network, security, data center, and others.
Insight by Organization Size
On the basis of organization size, the SIAM market is segmented into small and medium enterprises and large enterprises. Of both the categories, the SIAM market finds its larger application in large enterprises and the market for small and medium enterprises is anticipated to witness higher growth during the forecast period.
Insight by Service
Based on service, the SIAM market is segmented into assessment & advisory, consulting & implementation, and integration & automation. Of all the categories, the consulting and implementation services hold a larger share of the market and are anticipated to grow at the fastest rate during the forecast period.
Insight by Industry
Based on industry, the SIAM market is segmented into energy & utility, BFSI, telecom & IT, transportation & logistics, and retail & manufacturing. The telecom and IT industry is the largest consumer of SIAM solutions across the globe as the telecom industry relies on a multi-vendor environment to offer services by sharing resources.
Report Metric |
Details |
Historical Period |
2018 - 2023 |
Base Year Considered |
2024 |
Forecast Period |
2025 - 2030 |
Market Size in 2023 |
U.S.D. 4.8 Billion |
Revenue Forecast in 2030 |
U.S.D. 7.2 Billion |
Growth Rate |
6.1% |
Segments Covered in the Report |
By Solution, By Organization Size, By Service, and By Industry |
Report Scope |
Market Trends, Drivers, and Restraints; Revenue Estimation and Forecast; Segmentation Analysis; Impact of COVID-19; Companies’ Strategic Developments; Market Share Analysis of Key Players; Company Profiling |
Regions Covered in the Report |
North America, Europe, Asia-Pacific, Middle East, and Rest of the World |
Industry Dynamics
Growth Drivers
The increasing demand for multi-vendor outsourcing, increasing demand for automation in business processes, increasing service management complexities, and development of cost-effective SIAM framework are the key factors leading to the growth in the SIAM market, globally. Most companies across the globe are adopting SIAM solutions for the management of complexities in business services, especially in the IT and telecom sectors. With the increasing adoption of digital solutions and the abundance of information and data, operations in these industries become very complex, thus requiring automation of these processes.
The Service Integration and Management (SIAM) market refers to the market for services and solutions related to the implementation and management of service integration and management practices within organizations. SIAM is an approach that helps organizations effectively manage multiple service providers and ensure seamless service delivery to meet business objectives.
SIAM focuses on integrating various IT services from different providers and coordinating them to deliver an end-to-end service to the organization. It involves managing relationships with service providers, defining service levels, coordinating service delivery, and resolving any conflicts or issues that may arise.
The SIAM market has been growing rapidly in recent years as organizations increasingly adopt multi-vendor service delivery models. This is driven by factors such as the growing complexity of IT environments, the need for specialized services, and the desire to leverage best-of-breed solutions from different providers.
The SIAM market is also supported by software tools and platforms specifically designed to facilitate SIAM practices. These tools help automate service integration, service level management, performance monitoring, and reporting.
Increasing demand for automation in business processes is also boosting the growth of the global SIAM market. Business process automation (BPA) helps in making business simpler, increases service quality, and also improves service delivery. Robotic process automation is an emerging field within business process automation and uses artificial intelligence. Thus, positively impacting the growth of the market.
Challenges
Key challenges faced by the SIAM industry players are the dearth of skill and expert professionals, and reluctance in the adoption of new technologies. In addition, the lack of regulatory compliances and uniformity in service integration management solutions are also hindering the growth of the SIAM market, globally.
Geographic Overview
Geographically, Europe has been the largest SIAM market in 2022, globally due to the developed information and communication technology industry, high regulatory compliances, and high compliance for adopting new technologies by large enterprises in the region. However, the growth of the market in the region is anticipated to be comparatively slower than the other regions as the industry is anticipated to be mature and stagnant in the coming years.
North America and Asia-Pacific are the major regions showcasing immense opportunities for growth in the SIAM market in the coming years. The Asia-Pacific SIAM market is highly lucrative owing to its large consumer base, increasing reliance on multi-vendors for services, and the presence of large telecom sectors in the region. Also, developing the IT industry in emerging economies such as India, and the Philippines is creating a suitable business environment for SIAM solution providers.
Competitive Insight
Market players in the SIAM industry are focusing on strengthening B2C relationships, and the use of artificial intelligence and automation for catering to the demand of consumers. Atos SE, Hewlett Packard Enterprise (HPE), HCL Technologies Limited, Oracle Corporation, Tata Consultancy Services Limited, BAE Systems plc, DXC Technology Company, IBM Corporation, Capgemini, Accenture PLC, Infosys Limited, and Wipro Limited are some of the key players offering solutions in SIAM industry.
Primary Research
VynZ Research conducts extensive primary research to understand the market dynamics, validate market data and have key opinions from the industry experts. The key profiles approached within the industry include, CEO, CFO, CTO, President, Vice President, Product Managers, Regional Heads, and Others. Also, end user surveys comprising of consumers are also conducted to understand consumer behaviour.
The Service Integration and Management (SIAM) Market report offers a comprehensive market segmentation analysis along with an estimation for the forecast period 2025–2030.
Segments Covered in the Report
Region Covered in the Report
Source: VynZ Research
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Service Integration and Management (SIAM) Market