The North America Service Integration and Management Market would witness market growth of 4.3% CAGR during the forecast period (2023-2030).
There is a growing need for consulting services related to SIAM strategy, implementation, and training. Consulting firms and service providers offered expertise to assist organizations in navigating the complexities of implementing SIAM effectively. These trends reflect the evolving landscape of the market, driven by the need for organizations to efficiently manage multiple IT services, drive digital transformation, improve operational agility, and deliver superior experiences to end-users and customers.
The SIAM market platforms have been stimulated as a result of the increased volume, variety, and sources of data, the surge in demand for real-time data-driven applications, and the necessity to integrate data and services that reside on-premises in private clouds, and the public clouds of multiple vendors, all of which have been caused by the increased adoption of cloud computing by businesses for a variety of purposes. The proliferation of SaaS-based providers in the competitive landscape has presented challenges for organizations seeking to select the most suitable platform. Following this, managing and controlling data external to the organization's perimeter becomes imperative, leading to a rise in the utilization of cloud-based service integration solutions.
According to Natural Resources Canada, the electricity sector generated an annual output of 575 terawatt-hours in 2020, attributing to approximately 20 percent of Canada's total energy consumption. Hydroelectricity constitutes approximately 60% of the electricity sector in Canada. As of 2022, the combined installed capacity of solar PV and wind power in Canada was 17 gigawatts. They constituted most of the 14 GW of utility-scale wind energy. Hence, mass consumption and rapid development in the energy sector are propelling the growth of the market.
The US market dominated the North America 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 $1,720.4 million by 2030. The Canada market is registering a CAGR of 6.7% during (2023 - 2030). Additionally, The Mexico market would showcase a CAGR of 5.7% 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 U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Service Integration and Management Market is Predict to reach $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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