According to the latest IMARC Group report, titled “Cloud ITSM Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026, ”The global cloud ITSM market showed strong growth in 2015-2020. Expectedly, the market is expected to grow at a CAGR of approximately 17% during 2021-2026.
We regularly monitor the direct impact of COVID-19 in the market, along with the indirect influence of related industries. These observations will be included in the report.
Cloud IT service management (ITSM) designs, deploys, delivers, supports, and manages an organization’s IT services. It consists of hardware and software devices, cloud storage, computing resources, web and mobile applications, and virtual servers. Cloud ITSM provides fast, agile, and appropriate solutions to unforeseen events, opportunities, and competitive threats. It also helps in enhancing the productivity of small or medium sized businesses with limited resources.
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Market Trends
Cloud-based technology has emerged as a cost-effective and advanced method to manage an organization’s data by implementing various solutions and services, and thus driving the demand for cloud ITSM. Furthermore, the sudden outbreak of the COVID-19 pandemic prompted some governments to impose lockdown regulations and encourage social distance measures to prevent the spread of the disease. This has led to the adoption of work-from-home models that are currently increasing the demand for cloud ITSM. Furthermore, the widespread trend of bring-your-own-device (BYOD) has allowed employees to remotely access organizational data and resources, thereby boosting the need for advanced ITSM solution. Additionally, the advent of several technologies, such as Big Data, blockchain, machine learning, Internet of Things (IoT), predictive analytics, augmented reality (AI), and virtual reality (VR), is further expected to drive market growth in the coming years.
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Segmentation:
- Solutions
- Operations and Performance Management
- Service Portfolio Management
- Desk Software Services
- Dashboard Reporting and Analytics
- Configuration and Modification Management
- Services
- Professional service
- Managed services
End User Separation:
- Big Business
- Small and Medium Business
Breakup by Vertical:
- BFSI
- IT and Telecommunications
- Taking care of your health
- Working
- Tingi
- Education
- The others
Geographical Separation:
- North America (US and Canada)
- Europe (Germany, United Kingdom, France, Italy, Spain, Russia, etc.)
- Asia Pacific (China, India, Japan, South Korea, Indonesia, Australia, etc.)
- Latin America (Brazil, Mexico)
- Middle East and Africa
Competitive Landscape:
The report also analyzed the competitive market landscape with some of the major players Axios Systems, BMC Software Inc., CA Technologies (Broadcom Inc.), Cherwell Software LLC, Citrix Systems Inc., Hewlett Packard Enterprise, International Business Machines Corporation (IBM), Micro Focus International Plc, Microsoft Corporation, Oracle Corporation, ServiceNow and SysAid Technologies Ltd.
Key report highlights:
- Market Performance (2015-2020)
- Market Outlook (2021-2026)
- Analysis of Porter’s Five Forces
- Market Drivers and Success Factors
- SWOT analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently covered by the report, we can provide it to you as part of customization.
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