Home business solution Service Integration and Management Market Grows at 5.7% CAGR | Key...

Service Integration and Management Market Grows at 5.7% CAGR | Key player HCL Technologies, Sopra Steria, Wipro, Fujitsu, Capgemini

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“IBM (United States), Capgemini (France), HCL Technologies (India), DXC Technology (United States), Atos (France), TCS (India), Wipro (India), Accenture (Ireland), Fujitsu (Japan ), Mindtree (India), Oracle (United States), NTT DATA (Japan), Quint Wellington Redwood (Netherlands), ServiceNow (United States) and CGI (Canada). Other players include Cherwell (United States), BAE Systems (United Kingdom), Infosys (India) ”,

Service integration and management market by component (solutions and services), solution (business and technology), service (implementation, consulting), organization size, vertical (IT and telecommunications, manufacturing) and region – Global forecast to 2023

MarketsandMarkets expects the Service Integration and Management Market (SIAM) its size will grow from $ 3.67 billion in 2018 to $ 4.85 billion by 2023, at a compound annual growth rate (CAGR) of 5.7% during the forecast period. Key market growth drivers include the increasing complexity of service management and growing demand for multi-vendor outsourcing.

Governance, risk and control business solution to grow at the highest CAGR over the forecast period

The governance, risk and control solution enables companies to manage and monitor their operational and technical activities in compliance with regulations and compliance. The solution enables a service integration company to improve its decision-making process through better analysis of technician performance. The solution is expected to grow significantly as it helps reduce the risk of business operations disruption by instantly getting the status of installed products, warranty expiration dates, and delayed tasks.

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The infrastructure technology solutions segment is expected to hold larger market size during the forecast period

The infrastructure segment is seen as a mature technology solution as IT companies have a well-established IT business unit. The implementation of the infrastructure solution has increased, due to an increasing number of advanced technologies, a growing need to automate business processes and a strong focus on productivity. The segment plays a critical role in business transformation as it provides essential infrastructure including network and mobility for enterprises to competently withstand heterogeneous and complex dynamic demands of business customers.

The main players in the global SIAM market are IBM (United States), Capgemini (France), HCL Technologies (India), DXC Technology (United States), Atos (France), TCS (India), Wipro (India), Accenture (Ireland), Fujitsu (Japan), Mindtree (India), Oracle (United States), NTT DATA (Japan), Quint Wellington Redwood (Netherlands), ServiceNow (United States) and CGI (Canada). Other market players include Cherwell (US), BAE Systems (UK), Infosys (India), Little Fish (England), Keysource (UK), Tieto (Finland), 4th (US) , Data Ductus (Sweden), Sofigate (Finland) and Sopra Steria (France).

Wipro is a leading player in the global SIAM market. The company has adopted organic and inorganic growth strategies to expand its presence in the market. For example, in July 2018, Wipro partnered with Alight Solutions, a leader in technology solutions for healthcare, wealth management, human resources and finance. The partnership would help both Wipro and Alight Solutions accelerate their investments in consumer technologies and services in cloud businesses. Additionally, in October 2017, Wipro Digital, a digital business unit of Wipro, acquired Cooper, a business strategy consulting firm. The partnership has strengthened Wipro’s design, innovation and service delivery capabilities and helped it expand its reach in North America.

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Sopra Steria, a publisher established in the SIAM market, has a strong presence in European countries and in other regions. The company has adopted both organic and inorganic growth strategies to strengthen its presence and expand its customer base in the global SIAM market. In July 2018, Sopra Steria acquired it-economics, a German-based consulting firm specializing in digital transformation, agile development, cloud services and the management of complex and large-scale corporate IT projects. This acquisition would allow Sopra Steria to establish a solid base of large accounts in the banking, insurance and public services sectors.

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