Global Performance of SIAM: Key Drivers and Market Dynamics

Known as Service Integration and Management, SIAM is the world’s most notable methodology that aims to coordinate various service providers efficiently. Besides, it seamlessly integrates them to form a unified IT organization focused on serving the needs of businesses. The global presence of SIAM and its performance has been incredible SIAM practitioners are well compensated based on their skills, qualifications, and experience. Let’s see how SIAM is performing worldwide and what could be its probable performance rate down the line.

Who is SIAM Certified?

Accredited by EXIN, SIAM-certified professionals are working in the industry with these major designations:

• Program/Project Manager
• Service Architect
• IT Manager
• Consultant
• Service Delivery Manager’z

This image below was published in a report by EXIN, you’ll see how SIAM professionals are getting compensated.

The demand for SIAM professionals is increasing given the rapid change in organizational structures and policies. As a matter of fact, many organizational leaders are also encouraging employees to get certified in an accredited SIAM certification.

The newest market research report, which outlines the growth path of the worldwide Service Integration and Management (SIAM) market, has been published. It predicts a rise from USD 4.8 billion in 2023 to USD 6 billion by 2028.

Service integration and management (SIAM) have become essential components in the development of modern digital enterprises. The report indicates that hybrid service delivery models, which form the foundation of organizational IT frameworks, are driving the advancement of the SIAM market. Incorporating cutting-edge technologies such as Artificial Intelligence (AI) and automation into these models increasingly enhances service management processes and fuels market expansion.

Consequently, the business solutions segment of the SIAM market is forecasted to witness the highest growth rate. These solutions play a vital role in enabling organizations to synchronize technology with business goals, enhancing efficiency and customer satisfaction.

Top players in the SIAM market

• Little Fish
• Oracle
• Tieto
• Tata Consultancy Services Limited
• HCL Technologies
• Cherwell
• BAE Systems
• ServiceNow
• CGI
• Accenture
• TCS
• Sopra Steria
• Infosys
• NTT DATA
• Fujitsu
• Wipro
• DXC Technology
• 4me
• Data Ductus
• Mindtree
• Capgemini
• Keysource
• Quint Wellington Redwood
• IBM
• Atos SE
• Sofigate
• Hewlett Packard Enterprise

EXIN has also presented another set of data that shows the industry analysis of the SIAM market.

Now let’s talk about how SIAM professionals are proliferating globally and the rate of candidates earning SIAM certifications.

Image source: www.exin.com

A study by Cisco’s Internet Business Solutions Group reveals potential annual savings of up to USD 3,150 per employee for US companies with a comprehensive BYOD policy. Additionally, employees are spending an average of USD 965 on devices and USD 734 yearly on data plans. The increasing investments and advancements in the IT, telecommunications, and BFSI sectors in the region are poised to generate opportunities for the market. Furthermore, the COVID-19 pandemic has accelerated customer demand for digital technologies to ensure resilient enterprise operations, leading to a shift from traditional products to cloud-based offerings.

Image source: www.mordorintelligence.com

Conclusion

The global market performance of Service Integration and Management (SIAM) reflects a dynamic landscape characterized by steady growth and increasing adoption. As organizations seek to optimize their IT service delivery models and effectively manage complex ecosystems of multiple service providers, SIAM has emerged as a pivotal solution. Moreover, with the ongoing digital transformation across industries and the growing emphasis on seamless service delivery, SIAM is positioned to play a vital role in global IT service management’s future. Spoclearn is an Accredited EXIN Partner to deliver SIAM Foundation Training and SIAM Professional Training worldwide.