NEW YORK, June 8, 2022 / PRNewswire/ –
Market Overview
The ITSM Market Part is expected to increase by USD 11.51 billion from 2020 to 2025plus a accelerated CAGR of 19.08%- according to a recent Technavio market study.
- One of the major factors driving the ITSM market is the effective business IT service incident and problem management.
- The advent of advanced technologies is another factor supporting the growth of the ITSM market during the forecast period.
- Accessibility to data quality will be a major challenge for the ITSM market during the forecast period.
- North America will be registered highest growth rate of 43% in other regions. Therefore, the ITSM market in North America is expected to gain significant business opportunities for vendors during the forecast period.
- In 2021, with the mitigation of lockdowns and the adoption of effective vaccination measures, companies are trying to recover their business. Therefore, companies have announced plans to increase productivity by investing in automation technologies such as IoT and AI, which will accelerate the effects of technology megatrends and software investments, including ITSM.
- As companies gradually recover from crisis at the beginning of 2021they are expected to increase their investments and adopt different business strategies for technologies and software.
- The ITSM market vendors should focus on snatching business opportunities from IT and telecom segments as it accounted for the largest market share in the base year.
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Report Scope
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ITSM Market Scope |
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Report Cover |
Details |
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Page number |
120 |
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Base year |
2020 |
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Forecast period |
2021-2025 |
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Growth momentum and CAGR |
Accelerate to a CAGR of 19.08% |
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Market growth 2021-2025 |
$ 11.51 billion |
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Market structure |
Fragmented |
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YoY growth (%) |
17.86 |
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Regional analysis |
North America, Europe, APAC, South America, and MEA |
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Makes market contribution |
North America at 43% |
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Major consumer countries |
US, UK, Germany, China, and France |
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Competitive scene |
Leading companies, competitive strategies, scope of consumer engagement |
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Companies are profiled |
BMC Software Inc., Broadcom Inc., Fujitsu Ltd., Hewlett Packard Enterprise Co., International Business Machines Corp., Ivanti Inc., Microsoft Corp., Oracle Corp., SAP SE, and ServiceNow Inc. |
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Market Dynamics |
Parent market analysis, market growth inducers and barriers, Fast -growing and slow -growing segment analysis, impact of COVID 19 and future consumer dynamics, market condition analysis for the forecast period, |
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Customization preview |
If our report doesn’t include the data you’re looking for, you can contact our analysts and customize the segments. |
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Configuration Management (CM) Holds the Largest Market Share
- The growth of ITSM market share by configuration management segment (CM). during the forecast period.
- CM is the basis of ITSM solutions because it holds all the important data associated with the IT services of businesses.
- The growth part of the configuration management is driven by the increasing need for unified and accurate technical and relational data on configuration items (CIs) to be tracked the IT infrastructure and deliver IT services by ensuring integrity, stability, and continuous service operation to improve customer centrality and profitability.
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North America is Expected to Hold a Large Share of the Market
- 43% of market growth will come from North America during the forecast period. The The US is a major market for ITSM in North America.
- Market growth in this region will be faster than market growth in MEA and South America.
- The increasing use of cloud-based ITSM solutions by government organizations is facilitate the growth of the ITSM market in North America over the forecast period.
Buy Our Report for more important highlights on the regional market share of most of the mentioned countries.
Vendor Insights-
The report analyzes the competitive market landscape and offers information on several vendors in the market, including:
- BMC Software Inc.
- Broadcom Inc.
- Fujitsu Ltd.
- Hewlett Packard Enterprise Co.
- International Business Machines Corp.
- Ivanti Inc.
- Microsoft Corp.
- Oracle Corp.
- SAP SE
- ServiceNow Inc.
The ITSM market is fragmented and vendors are implementing growth strategies such as acquiring smaller and regional players for expansion to compete in the market.
Download the Sample Report to find additional highlights on vendors and their products offered.
Recent Developments
- BMC Software Inc.- The management company offers IT services for software and tools for modern businesses.
- Fujitsu Ltd.- The company offers ServiceNow that drives a seamless experience, automates response, delivers insights, and delivers.
- Hewlett Packard Enterprise Co.- The company offers an IT Service Management Course for students as well as employees.
Download Our Sample Report to learn more about recent Developments in the ITSM Market
Here Are Some Similar Topics-
Global Cloud-based ITSM Market: This market research report includes a detailed segmentation of the global ITSM market by type of deployment (on-premise, hybrid, and cloud). It outlines market shares for major regions such as the Americas, APAC, and EMEA. To gain more exclusive research insights: Download the Sample Report
Green Technology and Sustainability Market by Product and Geography – Forecast and Analysis 2022-2026: The share of green technology and sustainability market is expected to reach an estimated USD 26.10 billion by 2026 at an accelerating CAGR of 23.8%. To gain more exclusive research insights: Download the Sample Report
Table of contents
Executive Summary
Market Landscape
- Market ecosystem
- Value chain analysis
Market Measurement
- Market definition
- Market segment analysis
- Market size 2020
- Market outlook: Forecast for 2020 – 2025
Analysis of the Five Forces
- Bargaining power of consumers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of replacements
- Threat of rivalry
- Market conditions
Market Segmentation by Application
- Market segments
- Comparison by Application
- CM – Market size and forecast 2020-2025
- ITAM and ITSD – Market size and forecast 2020-2025
- A and PM – Market size and forecast 2020-2025
- NM – Market size and forecast 2020-2025
- Other – Market size and forecast 2020-2025
- Market Opportunity through Application
Customer landscape
Geographic and Landscape
- Geographical segmentation
- Geographical comparison
- North America – Market size and forecast 2020-2025
- Europe – Market size and forecast 2020-2025
- APAC – Market size and forecast 2020-2025
- South America – Market size and forecast 2020-2025
- MEA – Market size and forecast 2020-2025
- Major leading countries
- Market opportunity by geography
- Market drivers
- Market challenges
- Market trends
Vendor Landscape
- Overview
- Disruption of the landscape
Vendor Analysis
- Scope of vendors
- Market positioning of vendors
- BMC Software Inc.
- Broadcom Inc.
- Fujitsu Ltd.
- Hewlett Packard Enterprise Co.
- International Business Machines Corp.
- Ivanti Inc.
- Microsoft Corp.
- Oracle Corp.
- SAP SE
- ServiceNow Inc.
Appendix
- Report scope
- Currency conversion rates for US $
- Research methods
- List of abbreviations
About us
Technavio is a leading global technology research and consulting company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 expert analysts, Technavio’s report library Their client base is made up of businesses of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions in changing situations. in the market.
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Website: www.technavio.com/
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