PUBLISHER: The Business Research Company | PRODUCT CODE: 1484743
PUBLISHER: The Business Research Company | PRODUCT CODE: 1484743
Change and configuration management encompasses a systematic approach to handling modifications to systems, products, or services within an organization while preserving the integrity of their configurations. It entails the implementation of processes, tools, and methodologies aimed at controlling and tracking changes across an organization's IT infrastructure, software, hardware, documentation, and other essential components. This structured approach ensures that changes are implemented efficiently, risks are mitigated, and the overall stability and reliability of the organization's systems are maintained.
The primary components of change and configuration management are software and services. Software comprises a collection of instructions or programs that guide computers in executing particular tasks or functions. These solutions cater to a broad spectrum of end-users, including small and medium-sized enterprises (SMEs) as well as large enterprises across various sectors such as banking, financial services, and insurance (BFSI), retail, healthcare, telecommunications, information technology (IT), and others.
The change and configuration management market research report is one of a series of new reports from The Business Research Company that provides change and configuration management market statistics, including change and configuration management industry global market size, regional shares, competitors with a change and configuration management market share, detailed change and configuration management market segments, market trends and opportunities, and any further data you may need to thrive in the change and configuration management industry. This change and configuration management market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The change and configuration management market size has grown rapidly in recent years. It will grow from $2.06 billion in 2023 to $2.30 billion in 2024 at a compound annual growth rate (CAGR) of 11.7%. The growth observed in the historical period can be attributed to several key factors. These include the rapid expansion of IT complexity as organizations embrace digital transformation initiatives, resulting in a higher frequency of software releases to meet evolving business needs. Additionally, the escalating costs associated with downtime and errors have underscored the importance of robust change and configuration management practices to minimize disruptions and maintain operational efficiency.
The change and configuration management market size is expected to see rapid growth in the next few years. It will grow to $3.63 billion in 2028 at a compound annual growth rate (CAGR) of 12.1%. The anticipated growth in the forecast period can be attributed to several key factors. These include advancements in artificial intelligence (AI) and machine learning technologies, which enable more intelligent and automated change and configuration management processes. Additionally, the expansion of hybrid and multi-cloud environments drives the need for comprehensive management solutions that can effectively handle diverse infrastructure setups.
The change and configuration management market are poised for growth, fueled by escalating risk management and security concerns. With risk management centered on identifying and mitigating potential threats and security concerns emphasizing asset and data protection, the landscape is evolving due to mounting cyber threats, regulatory demands, and IT environment complexities. Change and configuration management processes emerge as critical in enabling organizations to adhere to security standards and regulations by documenting changes, monitoring configurations, and enforcing change control protocols, thus averting penalties and legal consequences. For instance, data from September 2023 provided by AAG IT Services indicates a significant rise in cyberattacks among UK companies in 2022, alongside a notable impact on US individuals due to cybercrime during the same period. These trends underscore the pivotal role of risk management and security concerns in driving the change and configuration management market's expansion.
Key players in the change and configuration management market are investing in cutting-edge solutions to address evolving needs. Web-based plan configuration management tools represent a significant innovation, facilitating the management of intricate health plan offerings across various business lines. These tools empower organizations to navigate changes in their IT infrastructure and applications while maintaining a centralized repository of configuration items and their interconnections. For example, Health Edge's August 2023 launch of HealthRules Promote introduces a web-based plan configuration management tool equipped with the unique capability to expedite configuration change testing within minutes through an intuitive interface. This feature empowers health plans to swiftly adapt to dynamic healthcare environments, ensuring reliability and consistency in configuration and promotion processes, thus fortifying resilience against external pressures.
In March 2024, International Business Machines Corporation (IBM) bolstered its capabilities in network and IT infrastructure automation through the acquisition of Pliant. This strategic move aims to equip IBM with advanced tools for automating tasks, streamlining operations, and providing developers and applications with enhanced control within their environments. Pliant's API-driven orchestration platform specializing in change and configuration solutions and services complements IBM's portfolio, reinforcing its position in delivering innovative solutions tailored to evolving market needs.
Major companies operating in the change and configuration management market are Microsoft Corporation, Dell Technologies Inc., International Business Machines Corporation, Cisco Systems Inc., Broadcom Inc., Hewlett Packard Enterprise Company (HPE), Amazon Web Services Inc., ServiceNow Inc., Red Hat Inc., Atlassian Corporation Plc, Micro Focus International Plc, BMC Software Inc., ManageEngine, QualiTest Group, SolarWinds Corporation, Ivanti Inc., HashiCorp Inc., Rocket Software Inc., JFrog Ltd., GitLab Inc., CloudBees Inc., CircleCI Inc., Octopus Deploy Pty. Ltd., SaltStack Inc., Clearvision Ltd.
North America was the largest region in the change and configuration management market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the change and configuration management market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the change and configuration management market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The change and configuration management market includes revenues earned by entities by providing services such as consulting, implementation, customization, training, compliance and audit support. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Change And Configuration Management Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on change and configuration management market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for change and configuration management ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The change and configuration management market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.