According to a new report published by Allied Market Research, titled, "ITSM Market," The itsm market was valued at $9.1 billion in 2022, and is estimated to reach $28.7 billion by 2032, growing at a CAGR of 12.4% from 2023 to 2032.
An IT service enables access to information and processes to accomplish important business goals or otherwise provide value. IT services include the deployment and support of enterprise applications, such as Exchange Server; architecting and optimizing IT infrastructure such as storage, networking, and cloud resources; and the creation and management of processes such as help desk support and troubleshooting procedures. By adopting ITSM principles, organizations enhance efficiency, reduce costs, and improve customer satisfaction by delivering reliable and responsive IT services. The continual improvement aspect of ITSM emphasizes an iterative process of refining services over time, allowing organizations to adapt to changing business needs and technological advancements.
The integration of artificial intelligence (AI) and automation in IT Service Management (ITSM) processes is a growing trend that has the potential to transform how IT services are delivered, managed, and supported. AI-powered chatbots and virtual assistants are employed for quicker issue resolution, enhanced self-service options, and improved user experiences. Another trend involves the adoption of DevOps practices within ITSM, emphasizing collaboration between development and operations teams to streamline service delivery and promote a more agile and responsive IT environment. Cloud-based ITSM solutions are also gaining prominence, allowing organizations to leverage scalable and flexible platforms for service management.
The ITSM market is segmented on the basis of component, function, deployment mode, enterprise size, end user, and region. On the basis of component, the market is categorized into solution and services. On the basis of function, the market is divided into configuration management, performance management, network management, and database management system. By deployment mode, it is divided into on-premise and cloud. On the basis of enterprise size, the market is classified into large enterprise and small & medium-sized enterprise. On the basis of end user, the market is segregated into BFSI, healthcare, retail & e-commerce, IT & telecom, manufacturing, and others. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The global ITSM market is dominated by key players such as Atlassian, BMC Software, Inc., Broadcom, Cloud Software Group, Inc., Freshworks Inc., Hewlett Packard Enterprise Development LP, IBM Corporation, Ivanti, Inc., Open Text Corporation, and ServiceNow, Inc.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the itsm market analysis from 2022 to 2032 to identify the prevailing itsm market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the itsm market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global itsm market trends, key players, market segments, application areas, and market growth strategies.
Additional benefits you will get with this purchase are:
- Quarterly Update and* (only available with a corporate license, on listed price)
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- 15% Free Customization* (in case the scope or segment of the report does not match your requirements, 15% is equivalent to 3 working days of free work, applicable once)
- Free data Pack on the Five and Enterprise User License. (Excel version of the report)
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- Free Industry updates and white papers.
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- Senario Analysis & Growth Trend Comparision
- Regulatory Guidelines
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- Additional country or region analysis- market size and forecast
- Expanded list for Company Profiles
- Historic market data
- Key player details (including location, contact details, supplier/vendor network etc. in excel format)
- Market share analysis of players at global/region/country level
- SWOT Analysis
Key Market Segments
By Component
By Function
- Network Management
- Performance Management
- Configuration Management
- Database Management System
By Deployment Mode
By Enterprise Size
- Large Enterprise
- Small and Medium-sized Enterprise
By End User
- BFSI
- Healthcare
- Retail and E-commerce
- IT and Telecom
- Manufacturing
- Others
By Region
- North America
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa
Key Market Players:
- Atlassian
- Broadcom
- Freshworks Inc.
- IBM Corporation
- Ivanti, Inc.
- ServiceNow, Inc.
- Cloud Software Group, Inc.
- BMC Software, Inc.
- Hewlett Packard Enterprise Development LP
- Open Text Corporation.