Global IT Service Management Market Research Report Information Application Area, Industry Vertical, By Component, Deployment Model, Organization Size, and By Region Forecast Till 2032

Description

List of Tables

Global IT Service Management Market Research Report Information Application Area (Incident and Problem Management, Change and Release Management, Configuration and Asset Management, Service Desk Management, Operations and Performance Management, Network Management, Governance, Risk, and Compliance Management, and Others), Industry Vertical (Banking, Financial Services, and Insurance (BFSI), Healthcare and Life Sciences, Retail and E-commerce, IT and Telecommunications, Manufacturing, Media and Entertainment, Government and Public Sector, Energy and Utilities, Education, and Others), By Component (Solutions and Services), Deployment Model (On-premises, and Cloud Based), Organization Size (Small and Medium Enterprises (SMEs), and Large Enterprises), and By Region (North America, Europe, Asia-Pacific, Middle East and Africa, South & Central America) Forecast Till 2032

Market Overview

The IT Service Management Market was valued at USD 12,510.6 million in 2023. The IT Service Management Market is expected to increase from USD 13,943.1 million in 2024 to USD 36,598.7 million by 2032, with a compound yearly growth rate (CAGR) of 12.8% over the forecast period (2024-2032). The IT Service administration market is being pushed by a shift toward cloud-based technologies, simplicity and synchronization of IT resources, automated administration of IT processes and policies, and the numerous benefits of agile implementation and quick deployment. Furthermore, some limitations that would impede market expansion during the projection period include a lack of technical knowledge and skills, as well as security and privacy issues for confidential data and company processes. Furthermore, there are numerous opportunities for market players to expand during the forecast period, including rising BYOD adoption and a growing mobile workforce, supportive government initiatives for necessary technology use, ongoing development of 5G technology, and the emergence of AI to automate processes.

Market Segment insights

The worldwide IT Service Management market is divided into two segments based on component: solutions and services.

The global market has been divided into two segments depending on deployment model: on-premises and cloud.

The global market is divided into two segments based on organization size: small and medium-sized companies (SMEs) and large organizations.

The global IT Service Management market is divided into several application areas, including incident and problem management, change and release management, configuration and asset management, service desk management, operations and performance management, network management, governance, risk, and compliance management, and others.

The global market is divided into Industry Verticals, which include banking, financial services, and insurance (BFSI), healthcare and life sciences, retail and e-commerce, IT and telecommunications, manufacturing, media and entertainment, government and public sector, energy and utilities, education, and others.

Regional insights

The study covers North America, Europe, Asia-Pacific, the Middle East and Africa, and South America. North America includes the United States, Canada, and Mexico. North America is once again dominating the IT Service Management (ITSM) industry, owing to advanced IT facilities and increased technical adoption.

The European market for IT Service Management (ITSM) is expected to grow as more organizations in sectors ranging from healthcare to manufacturing and finance adopt digital solutions. Cloud services, artificial intelligence, and automation are among the new IT trends being implemented today; as a result, enterprises are turning to upgraded ITSM solutions for efficient infrastructure management, better service delivery, and business support.

During the projected period, the Asia Pacific region is expected to have the highest CAGR for the IT Service Management (ITSM) market. This expansion is linked to ongoing digitisation and infrastructural investment in emerging markets like as India, China, and Southeast Asia.

Major Players

The market's major players include Microsoft, IBM, Oracle, Freshworks, ServiceNow, Broadcom, Atlassian, Ivanti, Zendesk, ManageEngine, and others.

Product Code: MRFR/ICT/0427-CR

1 EXECUTIVE SUMMARY

2 MARKET INTRODUCTION

2.1 DEFINITION
2.2 SCOPE OF THE STUDY
2.3 RESEARCH OBJECTIVE
2.4 MARKET STRUCTURE

3 RESEARCH METHODOLOGY

3.1 OVERVIEW
3.2 DATA FLOW
- 3.2.1 DATA MINING PROCESS
3.3 PURCHASED DATABASE:
3.4 SECONDARY SOURCES:
- 3.4.1 SECONDARY RESEARCH DATA FLOW:
3.5 PRIMARY RESEARCH:
- 3.5.1 PRIMARY RESEARCH DATA FLOW:
- 3.5.2 PRIMARY RESEARCH: NUMBER OF INTERVIEWS CONDUCTED
- 3.5.3 PRIMARY RESEARCH: REGIONAL COVERAGE
3.6 APPROACHES FOR MARKET SIZE ESTIMATION:
- 3.6.1 REVENUE ANALYSIS APPROACH
3.7 DATA FORECASTING
- 3.7.1 DATA FORECASTING TECHNIQUE
3.8 DATA MODELING
- 3.8.1 MICROECONOMIC FACTOR ANALYSIS:
- 3.8.2 DATA MODELING:
3.9 TEAMS AND ANALYST CONTRIBUTION

4 MARKET DYNAMICS

4.1 INTRODUCTION
4.2 DRIVERS
- 4.2.1 GROWING SHIT TOWARDS THE CLOUD BASED TECHNOLOGIES
- 4.2.2 SIMPLIFICATION AND SYNCHRONIZATION OF IT RESOURCES
- 4.2.3 AUTOMATED MANAGEMENT OF IT PROCESSES AND POLICIES
- 4.2.4 BENEFITS OF AGILE IMPLEMENTATION AND EASY DEPLOYMENT
4.3 RESTRAINT
- 4.3.1 LACK OF TECHNICAL KNOWLEDGE AND EXPERTISE
- 4.3.2 SECURITY AND PRIVACY CONCERNS FOR CONFIDENTIAL DATA AND BUSINESS PROCESSES
4.4 OPPORTUNITY
- 4.4.1 RISING ADOPTION OF BYOD AND GROWING MOBILE WORKFORCE
- 4.4.2 SUPPORTIVE GOVERNMENT INITIATIVES FOR NECESSARY TECHNOLOGY USES
- 4.4.3 CONTINUOUS DEVELOPMENT IN 5G TECHNOLOGY
- 4.4.4 EMERGENCE OF AI TO AUTOMATE PROCESSES
4.5 CHALLENGES
- 4.5.1 EFFECTIVE WORKFORCE MANAGEMENT
- 4.5.2 CYBERSECURITY CONCERNS ARISING OUT OF BREACHES
4.6 THE IMPACT OF COVID-19 ON THE IT SERVICE MANAGEMENT MARKET
- 4.6.1 IMPACT ON OVERALL ICT
- 4.6.2 IMPACT ON GLOBAL IT SERVICE MANAGEMENT MARKET
- 4.6.3 IMPACT ON SUPPLY CHAIN OF IT SERVICE MANAGEMENT MARKET
- 4.6.4 IMPACT ON MARKET DEMAND OF IT SERVICE MANAGEMENT MARKET
- 4.6.5 IMPACT ON PRICING OF IT SERVICE MANAGEMENT MARKET

5 MARKET FACTOR ANALYSIS

5.1 SUPPLY CHAIN ANALYSIS
- 5.1.1 DESIGNERS AND PROGRAMMERS
- 5.1.2 SOFTWARE DEVELOPERS
- 5.1.3 SYSTEM INTEGRATORS
- 5.1.4 END USERS
5.2 PORTER'S FIVE FORCES MODEL
- 5.2.1 THREAT OF NEW ENTRANTS
- 5.2.2 BARGAINING POWER OF SUPPLIERS
- 5.2.3 BARGAINING POWER OF BUYERS
- 5.2.4 THREAT OF SUBSTITUTES
- 5.2.5 INTENSITY OF RIVALRY

6 GLOBAL IT SERVICE MANAGEMENT MARKET, BY COMPONENT

6.1 OVERVIEW
6.2 SOLUTIONS
6.3 SERVICES

7 GLOBAL IT SERVICE MANAGEMENT MARKET, BY DEPLOYMENT MODEL

7.1 OVERVIEW
7.2 ON-PREMISES
7.3 CLOUD-BASED

8 GLOBAL IT SERVICE MANAGEMENT MARKET, BY ORGANIZATION SIZE

8.1 OVERVIEW
8.2 SMALL AND MEDIUM-SIZED ENTERPRISES (SMES)
8.3 LARGE ENTERPRISES

9 GLOBAL IT SERVICE MANAGEMENT MARKET, BY APPLICATION AREA

9.1 OVERVIEW
9.2 INCIDENT AND PROBLEM MANAGEMENT
9.3 CHANGE AND RELEASE MANAGEMENT
9.4 CONFIGURATION AND ASSET MANAGEMENT
9.5 SERVICE DESK MANAGEMENT
9.6 OPERATIONS AND PERFORMANCE MANAGEMENT
9.7 NETWORK MANAGEMENT
9.8 GOVERNANCE, RISK, AND COMPLIANCE MANAGEMENT
9.9 OTHERS

10 GLOBAL IT SERVICE MANAGEMENT MARKET, BY INDUSTRY VERTICAL

10.1 OVERVIEW
10.2 BANKING, FINANCIAL SERVICES, AND INSURANCE (BFSI)
10.3 HEALTHCARE AND LIFE SCIENCES
10.4 RETAIL AND E-COMMERCE
10.5 IT AND TELECOMMUNICATIONS
10.6 MANUFACTURING
10.7 MEDIA AND ENTERTAINMENT
10.8 GOVERNMENT AND PUBLIC SECTOR
10.9 ENERGY AND UTILITIES
10.10 EDUCATION
10.11 OTHERS

11 GLOBAL IT SERVICE MANAGEMENT MARKET, BY REGION

11.1 OVERVIEW
- 11.1.1 GLOBAL IT SERVICE MANAGEMENT MARKET, BY REGION, 2022 VS 2032 (USD MILLION)
- 11.1.2 GLOBAL IT SERVICE MANAGEMENT MARKET, BY REGION, 2019-2032 (USD MILLION)
11.2 NORTH AMERICA
- 11.2.1 US
- 11.2.2 CANADA
- 11.2.3 MEXICO
11.3 EUROPE
- 11.3.1 GERMANY
- 11.3.2 UK
- 11.3.3 FRANCE
- 11.3.4 ITALY
- 11.3.5 SPAIN
- 11.3.6 REST OF EUROPE
11.4 ASIA-PACIFIC
- 11.4.1 CHINA
- 11.4.2 INDIA
- 11.4.3 JAPAN
- 11.4.4 SOUTH KOREA
- 11.4.5 MALAYSIA
- 11.4.6 THAILAND
- 11.4.7 INDONESIA
- 11.4.8 REST OF ASIA-PACIFIC
11.5 MIDDLE EAST & AFRICA
- 11.5.1 GCC
- 11.5.2 SOUTH AFRICA
- 11.5.3 REST OF MIDDLE EAST & AFRICA
11.6 SOUTH AMERICA
- 11.6.1 BRAZIL
- 11.6.2 ARGENTINA
- 11.6.3 REST OF SOUTH AMERICA

12 COMPETITIVE LANDSCAPE

12.1 INTRODUCTION
12.2 MARKET SHARE ANALYSIS, 2023
12.3 COMPETITOR DASHBOARD
12.4 PUBLIC PLAYERS STOCK SUMMARY
12.5 COMPARATIVE ANALYSIS: KEY PLAYERS FINANICAL
12.6 KEY DEVELOPMENTS & GROWTH STRATEGIES
- 12.6.1 PRODUCT LAUNCH/PRODUCT APPROVAL/PRODUCT DEVELOPMET
- 12.6.2 PARTNERSHIP/INVESTMENT

13 COMPANY PROFILE

13.1 MICROSOFT
- 13.1.1 COMPANY OVERVIEW
- 13.1.2 FINANCIAL OVERVIEW
- 13.1.3 PRODUCTS OFFERED
- 13.1.4 KEY DEVELOPMENTS
- 13.1.5 SWOT ANALYSIS
- 13.1.6 KEY STRATEGIES
13.2 IBM
- 13.2.1 COMPANY OVERVIEW
- 13.2.2 FINANCIAL OVERVIEW
- 13.2.3 PRODUCTS OFFERED
- 13.2.4 KEY DEVELOPMENTS
- 13.2.5 SWOT ANALYSIS
- 13.2.6 KEY STRATEGIES
13.3 ORACLE
- 13.3.1 COMPANY OVERVIEW
- 13.3.2 FINANCIAL OVERVIEW
- 13.3.3 PRODUCTS OFFERED
- 13.3.4 KEY DEVELOPMENTS
- 13.3.5 SWOT ANALYSIS
- 13.3.6 KEY STRATEGIES
13.4 FRESHWORKS
- 13.4.1 COMPANY OVERVIEW
- 13.4.2 FINANCIAL OVERVIEW
- 13.4.3 PRODUCTS OFFERED
- 13.4.4 KEY DEVELOPMENTS
- 13.4.5 SWOT ANALYSIS
- 13.4.6 KEY STRATEGIES
13.5 SERVICENOW, INC
- 13.5.1 COMPANY OVERVIEW
- 13.5.2 FINANCIAL OVERVIEW
- 13.5.3 PRODUCTS OFFERED
- 13.5.4 KEY DEVELOPMENTS
- 13.5.5 SWOT ANALYSIS
- 13.5.6 KEY STRATEGIES
13.6 ATLASSIAN
- 13.6.1 COMPANY OVERVIEW
- 13.6.2 FINANCIAL OVERVIEW
- 13.6.3 PRODUCTS OFFERED
- 13.6.4 KEY DEVELOPMENTS
- 13.6.5 SWOT ANALYSIS
- 13.6.6 KEY STRATEGIES
13.7 BROADCOM INC
- 13.7.1 COMPANY OVERVIEW
- 13.7.2 FINANCIAL OVERVIEW
- 13.7.3 PRODUCTS OFFERED
- 13.7.4 KEY DEVELOPMENTSS
- 13.7.5 SWOT ANALYSIS
- 13.7.6 KEY STRATEGIES
13.8 IVANTI
- 13.8.1 COMPANY OVERVIEW
- 13.8.2 FINANCIAL OVERVIEW
- 13.8.3 PRODUCTS OFFERED
- 13.8.4 KEY DEVELOPMENTS
- 13.8.5 SWOT ANALYSIS
- 13.8.6 KEY STRATEGIES
13.9 ZENDESK
- 13.9.1 COMPANY OVERVIEW
- 13.9.2 FINANCIAL OVERVIEW
- 13.9.3 PRODUCTS OFFERED
- 13.9.4 KEY DEVELOPMENTS
- 13.9.5 SWOT ANALYSIS
- 13.9.6 KEY STRATEGIES
13.10 MANAGEENGINE
- 13.10.1 COMPANY OVERVIEW
- 13.10.2 FINANCIAL OVERVIEW
- 13.10.3 PRODUCTS OFFERED
- 13.10.4 KEY DEVELOPMENTS
- 13.10.5 SWOT ANALYSIS
- 13.10.6 KEY STRATEGIES