According to the latest IMARC Group report, titled “Cloud ITSM Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”The global cloud ITSM market will reach US $ 6.1 Billion in 2021. IMARC Group expects the market to reach US $ 16.7 Billion by 2027, showing a CAGR of 18.1% in 2022-2027.
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 information technology service management (ITSM) refers to the process of implementing, delivering, and managing an organization’s IT services in the cloud. It helps improve efficiency, reduce operating costs, provide accountability through standardization, improve productivity, minimize workload, and increase return on investment (ROI). It also assists organizations in setting and meeting their realistic expectations for services, resulting in enhanced transparency and user satisfaction.
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Market Trends
The increasing demand for cloud-based solutions to maintain business data efficiently and effectively represents one of the key factors driving market growth. In addition, the increasing use of remote employment solutions is contributing to market growth. Moreover, major players are focused on offering ITSM cloud services integrated with predictive analytics solutions and advanced technologies, such as internet of things (IoT), machine learning (ML), and artificial intelligence (AI). This, in turn, is driving market growth.
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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 (2016-2021)
- Market Outlook (2022-2027)
- 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.
About us
IMARC Group is a leading market research company offering management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest value opportunities, address their most important challenges, and transform their businesses.
IMARC’s information products include key market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high-tech organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing techniques are at the top of the company’s expertise.
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