- The primary focus of SIAM is providing consistent governance, performance assurance, and management of suppliers and services.
- SIAM components and their resourcing have a major impact on the outcome in IT & telecommunication sector.
- North America is the front-runner of the overall SIAM market, closely followed by Europe.
The global market for Service Integration And Management accounted for a market value of $3.67 billion in 2018, with CAGR projected to reach 5.99 per cent over the forecast period from 2019 to 2027.
Service Integration And Management (SIAM) is an effective solution to take advantage of the flexibility and innovation of standard and multi-sourcing services while offering integrated services to businesses.
Highly disparate business requirements create complex, heterogeneous environments that increase demand for resources. Limited control of demand means limited control over the overall cost of services or compliance with security or compliance requirements. The Service Integration function specifies the service management processes and procedures to be applied across the enterprise.
SIAM ensures multiple service providers deliver services to multiple business verticals in an efficient and coherent manner. Effective SIAM capitalizes on the performance of end-to-end business services in the most cost-effective manner.
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The SIAM market is primarily directed by the IT & telecommunications sector. In the last few years, both selective and multi-vendor sourcing has become mainstream in the IT sector. This has paved the way to the increase in demand for SIAM as discrete discipline which aggregates individual IT services, aligning them to core business processes and priorities.
North America was the dominating market for Service Integration And Management in 2018 closely followed by Europe, mainly due to early adoption of advanced technologies. Demand for SIAM solutions is highest in the U.S. primarily due to stringent business governance guidelines. However, as other countries such as Germany, the United Kingdom, France, Japan, Canada, India and Australia, among others, have started to enforce similar regulations, the demand for SIAM solutions has increased rapidly throughout the world.
Enterprises that have implemented SIAM in their operations have benefited from the concept, but it appears that the implementation itself seems to be the most challenging part in moving towards a SIAM model. SIAM is not a necessity for any IT organization, but the bigger the organization and the more services it provides to end-users, the more the organization needs a predictable service landscape. With a growing competitive environment and penetration of outsourcing services, the Service Integration And Management (SIAM) market is expected to increase at a promising rate over the forecast period.