Service Integration and Management Market Insight by Solution, Service, Organization Type, Industry Demand and Growth

The service integration and management market is expected to reach $5.1 billion by 2023, according to P&S Intelligence.

 Cost reduction, value enhancement, and service quality enhancement leading to process efficiency are the major factors responsible for the high growth of the global service integration and management market. Improvement in service quality leads to smoother flow of end-to-end processes, which include maintaining coordination between the customer organization and service providers and enabling the customer organization to easily switch between the service providers, if needed, to ensure quality. This not only ensures consistent management of services and access to top-notch service technologies but also allows sharing of knowledge and continual improvement in services.

 Insights on market segments

 The service integration and management market is categorized into technology and business; of which, the business category is projected to witness higher growth during the forecast period. This is because of the increasing investments in governance strategies and procurement activities by many global players. Based on the organization type, large enterprises are expected to continue generating a larger share of the service integration and management revenues, as compared to small and medium enterprises (SMEs).
Europe is expected to continue remaining the largest service integration and management market
Europe is expected to continue being the largest service integration and management market in the forthcoming years, on account of the growing need of organizations to adapt their IT system infrastructure to the changing information services environment. Because of the increasing usage of SaaS and IaaS cloud services by the European companies, the demand for the service integration and management model is also growing in the region.

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Cost efficiency and value enhancement offered by service integration and management is the key growth driver
Service integration in any business process incurs additional costs to an organization, irrespective of it being provisioned externally or internally. The adoption of the multi-vendor outsourcing model leads to the optimization of the cost and increase in the service value for the organization. The global service integration and management market is being driven by increasing preference of companies to adopt this model on account of its cost saving and service value improvement features. The cost of service management for any organization gets reduced with the adoption of this model because of the innovative technologies it brings to the organization, in addition to proper use of skilled and scarce resources and reduction in process execution costs.

Service integration and management market competitiveness

Some of the key players operating in this market are Oracle Corporation, Hewlett Packard Enterprise (HPE), International Business Machines Corporation (IBM), HCL Technologies Limited, Infosys Limited, Mindtree Limited, Capgemini SE, and Atos SE.


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