As per Future Market Insights analysis, the global service integration and management market is estimated to reach a value of more than US$ 16.4 Bn by the end of 2027 from an estimate of a bit above US$ 6.7 Bn in 2017. It is expected to grow a high CAGR of 9.2% throughout the period of forecast, 2017-2027. The service integration and management market growth can be attributed to increasing deployment of IT and managed services.
Revenue from the market is also increasing due to adoption of new technologies such as big data analytics in order to improve performance and delivery of services on time. Increasing global ICT spending is expected to support the robust growth of the service integration and management market in the years to come.
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Global Service Integration and Management Market: Dynamics
Increasing expectations from users, increasing service targets, rise in multi-vendor and selective sourcing, rising supply network for delivery services, improvisation in IT performance, rising infrastructure services, increasing complexity of service management, rise in outsourcing of service integration, need for better IT delivery, rising customers and requirement changes and need for fast and seamless transition of new services have supported the growth of the global service integration and management market. However, factors such as cultural gap, high cost of IT, challenges faced by small organizations, lack of key performance indicators, lack of proper implementation and challenges related to process and interface standards are interfering with the growth of the global service integration and management market.
Global Service Integration and Management Market: Forecast Projections
According to the fact based research report, the global service integration and management market is anticipated to grow at a meteoric growth rate to register a high CAGR of 9.2% during the period of forecast. The global service integration and management market is valued at about US$ 6.8 Bn in 2017 and is estimated to reach a valuation of more than US$ 16 Bn by the end of the assessment period.
Government and Oil & Gas and Energy industry segments to witness growth clash in the coming years
Government and oil & gas segments in the industry category are anticipated to grow at the same pace in the coming years. Both these segments are expected to register a high CAGR of 11.8% throughout the period of assessment owing to increased adoption of service integration and management process in these industries. However, the government segment holds a high market share as of 2017 reflecting a higher market valuation and is likely to advance with this trend in the years to come.
By the end of 2027, the government segment is estimated to reach US$ 2.5 Bn, a market value higher than that of the oil & gas and energy segment. Increasing investment on service integration & management solutions by governments of various countries has pushed the growth of the government segment in this market.
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Global Service Integration and Management Market: Segmental Highlights
The global service integration and management market is segmented by IT solutions, by enterprise type, by industry and by region.
By region, the service integration and management market in Asia Pacific excluding Japan (APEJ) region is projected to grow at the highest pace in the coming years to register a CAGR of 13.0%. North America is considered to be an attractive and the largest market. The service integration and management market in North America is poised to reflect a higher value of more than US$ 5 Bn by 2027 end and thus expected to dominate the global market
By IT solution type, the IT infrastructure management segment is the largest segment with respect to value and is poised to grow at a significant pace. The compliance and risk management segment is projected to be the fastest growing segment to register an exponential CAGR of 11.4% throughout the period of assessment
By enterprise type, the small and medium enterprise segment is expected to gain high traction in the coming years and is poised to grow at a higher rate. The large enterprises segment is the largest and is estimated to reflect a higher market value of more than US$ 8.9 Bn by the end of the assessment year
Global Service Integration and Management Market: Key Players
The analytical research report on global service integration and management market has included profiling of key players involved in service integration and management. Key companies such as
- HCL Technologies Limited,
- Oracle Corporation,
- Wipro Limited,
- Fujitsu Limited,
- Cisco Systems, Inc.,
- Accenture PLC,
- ATOS SE,
- ServiceNow Inc.,
- Capita PLC,
- Tata Consultancy Services,
- CGI Group Inc.,
- Quint Group,
- NTT Data Corporation,
- DXC technology and
- Sofigate Oy are included in this research report.
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