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
- Capita PLC
- Cisco Systems, Inc.
- Fujitsu Limited
- HCL Technologies Limited
- IBM Corporation
- Nokia Corporation
- Oracle Corporation
- ServiceNow Inc.
- Wipro Limited
In June 2018, IBM Corporation launched an updated IBM Cloud Private Application Platform, which is compatible to run enterprises’ Cloud Managed Service (CMS).
In June 2018, HCL Technologies collaborated with Nokia Corporation to help transform and modernize Nokia’s IT infrastructure and application landscape.
Global Service Integration and Management Market: Research Scope
Global Service Integration and Management Market Segmentation, by Component
- Business Solutions
- Technology Solutions
- Professional Service
- Implementation & Integration
- Managed Service
- Professional Service
Global Service Integration and Management Market Segmentation, by Enterprise Size
- Small & medium
- Large enterprise
Global Service Integration and Management Market Segmentation, by Industry
- IT and Telecom
- Energy and Utility
- Transportation and Logistic
- Others (Healthcare and Government)
Global Service Integration and Management Market Segmentation, by Region
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
- South America
- Rest of South America
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.