Service Integration and Management Market: Introduction
- Service integration and management manages and integrates various suppliers of IT services and business services. It is an organization tool that is helpful in reducing IT operational costs and risks. The main aim of a service integration and management tool is to integrate independent services from external and internal providers into end-to-end services, so as to meet business requirements.
- Throughout the COVID-19 outbreak, governments, organizations, and enterprises are increasingly adopting service integration and management, in order to perform recurring tasks or processes where physical effort can be replaced. Social distancing due to COVID -19 has forced organizations and enterprises to restrict providing services to customers by their employees. This is expected to accelerate the service integration and management market. In addition, service integration and management providers are integrating advanced technology in innovative ways to help enterprises across various industries to fight the coronavirus outbreak. This is boosting the growth of the service integration and management market across the globe.
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Global Service Integration and Management Market: Market Dynamics
- Rising investment in procurement activities and government funding for enterprises or organizations in developed and developing countries across the world, so as to adopt automation processes is anticipated to propel the growth of the global service integration and management market.
- Growing service quality enhancement that can lead to process efficiency is a factor that is likely to drive the growth of the market.
- Increasing number of small & medium and large enterprises across developed and developing economies is expected to trigger the growth of the global service integration and management market.
- However, lack of awareness among people can restrain the growth of the service integration and management market. Lack of SLA (service-level agreement) and regulatory compliances is another factor that can hinder the growth of the market.
North America to Account for Major Share of the Global Service Integration and Management Market
- On the basis of region, the global service integration and management market can be divided into North America, South America, Europe, Asia Pacific, and Middle East & Africa.
- North America is anticipated to lead the global service integration and management market, due to increasing progression of third-party platforms that includes mobile, analytics, social, and IOT in the U.S and Canada. This factor accelerates the growth of the service integration and management market in the North America region.
- Europe is anticipated to be a growing market for service integration and management and is projected to experience high CAGR during the forecast period, due to growing usage and adoption of IaaS (Infrastructure as a Service) and SaaS (Software as a Service) cloud services by companies in the region.
- The service integration and management market in Asia Pacific is expected to hold significant share due to rising digitization in developing countries such as India and China. In addition, increasing awareness among enterprises about service integration and management is expected to trigger the growth of the market across Asia Pacific.
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Global Service Integration and Management Market: Competitive Landscape
Key Players Operating in the Global Service Integration and Management Market
Companies operating in the service integration and management market are increasingly investing in research and development to develop new and innovative techniques to provide service integration and management solutions and services. The service integration and management market is highly fragmented with the presence of numerous manufacturers in both developed and developing regions. Key players operating in the global service integration and management market include:
- Accenture PLC
- Atos SE
- Capgemini
- Capita PLC
- Cisco Systems, Inc.
- Fujitsu Limited
- HCL Technologies Limited
- IBM Corporation
- Nokia Corporation
- Oracle Corporation
- ServiceNow Inc.
- Wipro Limited
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