Global ITSM Software Market Size By Type (Cloud-based, On-Premises), By Application (Large Enterprises, SMEs), By Geographic Scope And Forecast

ITSM Software Market Size And Forecast

ITSM Software Market size was valued at USD 2.37 Billion in 2020 and is projected to reach USD 5.08 Billion by 2028, growing at a CAGR of 11.47% from 2021 to 2028.

Emerging countries of ITSM and growing demand for ITSM are the driving factors of this market. Furthermore, the rise in mobile workforce, security and privacy concerns, and increasing drift towards cloud-based ITSM has also driven the market growth. The Global ITSM Software Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.

Global ITSM Software Market Definition

IT service management, also referred to as ITSM may be a general term that describes everything of activities which include design, delivers, manage, and improve the way businesses use information technology. It involves all the distinct strategic approaches and processes that support service throughout its lifecycle from service management to vary management, asset management, problem and incident management, and knowledge management.

Global ITSM Software Market Overview

IT Service Management is a process-based practice. It delivers satisfactory services to the end-user customer owing to which the demand for the ITSM Software Market is increasing. Additionally, it is intended to align the delivery of information technology (IT) services with the needs of the enterprise, emphasizing benefits to customers. Emerging countries of ITSM and growing demand for ITSM are the driving factors of this market.

Furthermore, the rise in mobile workforce, security and privacy concerns, and increasing drift towards cloud-based ITSM has also driven the market growth. However, increasing business scrutiny and complexity, substantial adoption of the web of things over various cloud-based applications, and excess use of remote applications are certain factors hindering the expansion of this market.

Global ITSM Software MarketSegmentation Analysis

The Global ITSM Software Market is Segmented on the basis of Type, Application, and Geography.

ITSM Software Market, By Type

• Cloud-based• On-Premises

Based on Type, the market is segmented into Cloud-based and On-Premises. In the current scenario, the adoption of cloud-based technology has increased extensively across the globe. Cloud-based deployment of software is expected to hold approximately 80% share of the global information & communication technology industry. Companies are increasing their investments in cloud technology with the increasing got to manage IT resources and to scale back operational and maintenance costs. This successively is driving the worldwide ITSM Software Market.

ITSM Software Market, By Application

• Large Enterprises• SMEs

Based on Application, the market is segmented into Large Enterprises and SMEs. Large enterprises are enterprises that have more than 1,000 employees. The large enterprises are utilizing the cloud ITSM offerings to deliver services to customers effectively. The adoption of cloud ITSM solutions among large enterprises is high due to the ever-increasing demand for cloud automation, and the trend is expected to continue during the forecast period. Large enterprises are heavily investing in advanced technologies to increase overall productivity and efficiency.

ITSM Software Market, By Geography

• North America• Europe• Asia Pacific• Rest of the world

Based on regional analysis, the Global ITSM Software Market is classified into North America, Europe, Asia Pacific, and Rest of the world. The North America is expected to dominate the global ITSM Software Market during the forecast period, owing to the increased adoption of cloud-based technologies, specifically by small & medium enterprises (SMEs), in the region.

Key Players

The “Global ITSM Software Market” study report will provide a valuable insight with an emphasis on the global market. The major players in the market are EZOfficeInventory, Opsgenie, SapphireIMS. The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the above-mentioned players globally.

Key Developments

Mergers and Acquisitions

• Atlassian has expanded the Opsgenie integrations. The Atlassian acquisition of Opsgenie follows a trend of incident management products being absorbed into larger DevOps platforms, although not everyone appreciates a one-stop shop. IT shops must choose between end-to-end IT management suites and collections of specialist solutions as broader DevOps software platforms include incident management capabilities.

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Reasons to Purchase this Report

• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors• Provision of market value (USD Billion) data for each segment and sub-segment• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled• Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players• The current as well as the future market outlook of the industry with respect to recent developments which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions• Includes in-depth analysis of the market of various perspectives through Porter’s five forces analysis• Provides insight into the market through Value Chain• Market dynamics scenario, along with growth opportunities of the market in the years to come• 6-month post-sales analyst support

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