The Latin America, Middle East and Africa Service Integration and Management Market would witness market growth of 7.3% CAGR during the forecast period (2023-2030).
When organizations utilize a combination of on-premises and on-cloud applications, employing distinct integration tools for each platform introduces unnecessary complications to the IT infrastructure and further compounds latency issues. Hybrid integration obviates the necessity of rewriting integration code when transitioning between private and cloud environments. Furthermore, the wider adoption of the information technology infrastructure library as the predominant standards of excellence direction framework for implementing and documenting IT service management—which oversees the complete provision of IT services to clients—will contribute to the expansion of the cloud service integration and management demand. This is owing to the numerous advantages that this framework offers.
Furthermore, the market is competitive and consists of various players offering services, tools, frameworks, and consulting expertise to address the complexities of managing multiple IT services from diverse providers. Major IT service providers, such as IBM, Capgemini, and HCL Technologies, offer SIAM-related services. These companies provide consulting, implementation, and managed services to help organizations adopt and manage SIAM frameworks. In addition to established players, emerging startups and innovators are entering the market. These startups often focus on specific niches within SIAM, offering innovative tools, technologies, or specialized consulting services to address specific challenges.
As per the same source, healthcare expenditures in Argentina have historically comprised an estimated 9 to 10% of the country's gross domestic product, among the region's greatest. It has been estimated that imports comprise approximately 70 to 75% of the healthcare equipment and device industry, with the remainder being accounted for by domestic medical device manufacturing. Hence, the expansion of the logistics and healthcare industry in the region is complementing the demand for the market.
The Brazil market dominated the LAMEA Service Integration and Management Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $147.6 million by 2030. The Argentina market is showcasing a CAGR of 7.9% during (2023 - 2030). Additionally, The UAE market would register a CAGR of 7% during (2023 - 2030).
Based on Component, the market is segmented into Solution (Technology Solutions, and Business Solutions), and Services (Integration & Implementation, Consulting Services, and Training, Support & Maintenance). Based on Technology Solutions Type, the market is segmented into Infrastructure (Data Center, Network, Security, and Others), and Application (Application Lifecycle Management, Application Testing, and Application Development). Based on Business Solutions Type, the market is segmented into Contract Management, Procurement, Governance, Risk & Control, and Auditing & Invoicing. Based on Organization Size, the market is segmented into Large Enterprises, and Small & Medium Enterprises. Based on Vertical, the market is segmented into Manufacturing, Government & Defense, Energy & Utilities, Healthcare & Lifesciences, Transportation & Logistics, BFSI, Retail & Consumer Goods, IT & Telecom, and Others. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: The Worldwide Service Integration and Management Market is Projected to reach USD 6.9 Billion by 2030, at a CAGR of 5%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include IBM Corporation, HCL Technologies Ltd. (HCL Enterprises), Wipro Limited, Fujitsu Limited, Atos Group, TATA Consultancy Services Ltd., DXC Technology Company, Infosys Limited, CGI, Inc., and Accenture PLC
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