Product Code: GVR-4-68040-130-2
Information Technology Service Management (ITSM) Market Growth & Trends:
The global Information Technology Service Management (ITSM) market size is expected to reach USD 18.24 billion by 2030, according to a new report by Grand View Research, Inc.. The industry is anticipated to grow at a lucrative CAGR of 9.3% from 2023 to 2030. This growth is attributed to several key factors, including the widespread adoption of cloud computing and digital transformation initiatives. Businesses increasingly recognize the importance of efficiently managing their IT services, driven by a focus on enhancing customer experience and satisfaction. Moreover, the growing complexity of IT infrastructures necessitates robust ITSM solutions to streamline service delivery, reduce costs, and ultimately boost customer satisfaction, making ITSM a vital component of modern business strategies. As businesses continue to navigate the evolving landscape of technology, ITSM solutions serve as critical enablers, allowing organizations to adapt to changing IT environments and ensure agility in responding to emerging challenges and opportunities.
ITSM is poised for continuous growth in the coming years due to the increasing complexity of IT environments, driven by organizations' growing reliance on technology. It highlights the need for structured and efficient ITSM solutions to manage these complexities effectively. Moreover, the rising significance of digital transformation necessitates ITSM to align IT services with transformation goals. Integrating AI and machine learning in ITSM automates tasks, enabling IT staff to focus on strategic initiatives. Self-service ITSM is rising, improving user satisfaction and reducing IT staff workloads. In addition, the heightened focus on IT security and compliance is driving the implementation of ITSM to enhance security postures and manage policies and procedures effectively.
DevOps and agile practices enable organizations to deliver IT services more efficiently to meet digital customer demands, with ITSM tools facilitating implementation. There's a notable shift towards customer-centricity in ITSM practices, aided by ITSM tools that enhance understanding and alignment with customer needs. Further, organizations are adopting proactive and predictive service management to prevent disruptions, with ITSM tools helping identify and resolve potential issues in advance. A transition to platform-based service management is reducing IT service delivery costs and complexity, facilitated by ITSM tools. In addition, intelligent analytics and reporting provide valuable insights, empowering organizations to enhance IT service performance and decision-making. Thus, integrating DevOps and agile practices, focusing on customer-centricity, proactive and predictive service management, platform-based service delivery, and intelligent analytics collectively drives the evolution of ITSM towards a more efficient, customer-oriented, and data-driven future.
Information Technology Service Management (ITSM) Market Report Highlights:
- The solutions segment dominated the market in 2022 and accounted for a revenue share of over 76.0%, as ITSM solutions are essential for businesses to manage their IT services effectively
- The cloud segment is anticipated to register the highest CAR over the forecast period due to the increasing adoption of cloud-based IT services. More and more businesses are moving their IT infrastructure and applications to the cloud, driving demand for cloud-based ITSM solutions
- The network management segment held the largest revenue share of over 27% in 2022. Network management solutions provide a range of features to help businesses monitor, troubleshoot, and manage their networks
- The large enterprises segment led the market in 2022 accounting for over 75% of the global revenue due to high demand as large enterprises have complex IT infrastructures and need to manage many IT services
- North America dominated the global market in 2022. However, Asia Pacific is projected to grow at the highest CAGR from 2023 to 2030
Table of Contents
Chapter 1. Methodology And Scope
- 1.1. Research Methodology
- 1.2. Research Scope And Assumptions
- 1.3. Information Procurement
- 1.3.1. Purchased Database
- 1.3.2. GVR's Internal Database
- 1.3.3. Secondary Sources & Third-party Perspectives
- 1.3.4. Primary Research
- 1.4. Information Analysis
- 1.4.1. Data Analysis Models
- 1.5. Market Formulation & Data Visualization
- 1.6. Data Validation & Publishing
Chapter 2. Executive Summary
- 2.1. Market Outlook
- 2.2. Segmental Outlook
- 2.3. Competitive Insights
Chapter 3. Market Variables, Trends, And Scope
- 3.1. Market Lineage
- 3.2. Industry Value Chain Analysis
- 3.3. ITSM Market - Market Dynamics
- 3.3.1. Market Driver Analysis
- 3.3.1.1. Shift Towards Cloud-based ITSM Solution
- 3.3.1.2. Need For Improved It Service Delivery
- 3.3.2. Market Restraint Analysis
- 3.3.2.1. High-cost Of The ITSM Solutions
- 3.3.3. Industry Challenges
- 3.4. Business Environmental Tools Analysis: Computer Vision Market
- 3.4.1. Porter's Five Forces Analysis
- 3.4.1.1. Bargaining Power Of Suppliers
- 3.4.1.2. Bargaining Power Of Buyers
- 3.4.1.3. Threat Of Substitution
- 3.4.1.4. Threat Of New Entrants
- 3.4.1.5. Competitive Rivalry
- 3.4.2. Pestle Analysis
- 3.4.2.1. Political Landscape
- 3.4.2.2. Economic Landscape
- 3.4.2.3. Social Landscape
- 3.4.2.4. Technology Landscape
- 3.4.2.5. Environmental Landscape
- 3.4.2.6. Legal Landscape
- 3.5. Economic Mega Trend Analysis
Chapter 4. ITSM Market: Component Estimates & Trend Analysis
- 4.1. ITSM Market, By Component: Key Takeaways
- 4.2. ITSM Market: Component Movement Analysis, 2022 & 2030
- 4.3. Solution
- 4.3.1. Market Estimates And Forecasts, 2017 - 2030 (USD Million)
- 4.4. Services
- 4.4.1. Market Estimates And Forecasts, 2017 - 2030 (USD Million)
Chapter 5. ITSM Market: Technology Estimates & Trend Analysis
- 5.1. ITSM Market, By Technology: Key Takeaways
- 5.2. ITSM Market: Technology Movement Analysis, 2022 & 2030
- 5.3. Configuration Management
- 5.3.1. Market Estimates And Forecasts, 2017 - 2030 (USD Million)
- 5.4. Performance Management
- 5.4.1. Market Estimates And Forecasts, 2017 - 2030 (USD Million)
- 5.5. Network Management
- 5.5.1. Market Estimates And Forecasts, 2017 - 2030 (USD Million)
- 5.6. Database Management System
- 5.6.1. Market Estimates And Forecasts, 2017 - 2030 (USD Million)
- 5.7. Other Applications
- 5.7.1. Market Estimates And Forecasts, 2017 - 2030 (USD Million)
Chapter 6. ITSM Market: Deployment Estimates & Trend Analysis
- 6.1. ITSM Market, By Deployment: Key Takeaways
- 6.2. ITSM Market: Deployment Movement Analysis, 2022 & 2030
- 6.3. Cloud
- 6.3.1. Market Estimates And Forecasts, 2017 - 2030 (USD Million)
- 6.4. On-premises
- 6.4.1. Market Estimates And Forecasts, 2017 - 2030 (USD Million)
Chapter 7. ITSM Market: Enterprise Size Estimates & Trend Analysis
- 7.1. ITSM Market, By Enterprise Size: Key Takeaways
- 7.2. ITSM Market: Enterprise Size Movement Analysis, 2022 & 2030
- 7.3. SMEs
- 7.3.1. Market Estimates And Forecasts, 2017 - 2030 (USD Million)
- 7.4. Large Enterprises
- 7.4.1. Market Estimates And Forecasts, 2017 - 2030 (USD Million)
Chapter 8. ITSM Market: Vertical Estimates & Trend Analysis
- 8.1. ITSM Market, By Vertical: Key Takeaways
- 8.2. ITSM Market: Vertical Movement Analysis, 2022 & 2030
- 8.3. BFSI
- 8.3.1. Market Estimates And Forecasts, 2017 - 2030 (USD Million)
- 8.4. Healthcare
- 8.4.1. Market Estimates And Forecasts, 2017 - 2030 (USD Million)
- 8.5. Retail & E-commerce
- 8.5.1. Market Estimates And Forecasts, 2017 - 2030 (USD Million)
- 8.6. It & Telecom
- 8.6.1. Market Estimates And Forecasts, 2017 - 2030 (USD Million)
- 8.7. Energy & Utilities
- 8.7.1. Market Estimates And Forecasts, 2017 - 2030 (USD Million)
- 8.8. Government & Public Sector
- 8.8.1. Market Estimates And Forecasts, 2017 - 2030 (USD Million)
- 8.9. Others
- 8.9.1. Market Estimates And Forecasts, 2017 - 2030 (USD Million)
Chapter 9. ITSM Market: Regional Estimates & Trend Analysis
- 9.1. ITSM Market: Regional Movement Analysis, 2022 & 2030
- 9.2. North America
- 9.2.1. Market Estimates And Forecasts, 2017 - 2030 (USD Million)
- 9.2.2. U.S.
- 9.2.2.1. Market Estimates And Forecasts, 2017 - 2030 (USD Million)
- 9.2.3. Canada
- 9.2.3.1. Market Estimates And Forecasts, 2017 - 2030 (USD Million)
- 9.3. Europe
- 9.3.1. Market Estimates And Forecasts, 2017 - 2030 (USD Million)
- 9.3.2. Germany
- 9.3.2.1. Market Estimates And Forecasts, 2017 - 2030 (USD Million)
- 9.3.3. France
- 9.3.3.1. Market Estimates And Forecasts, 2017 - 2030 (USD Million)
- 9.3.4. UK
- 9.3.4.1. Market Estimates And Forecasts, 2017 - 2030 (USD Million)
- 9.4. Asia Pacific
- 9.4.1. Market Estimates And Forecasts, 2017 - 2030 (USD Million)
- 9.4.2. China
- 9.4.2.1. Market Estimates And Forecasts, 2017 - 2030 (USD Million)
- 9.4.3. Japan
- 9.4.3.1. Market Estimates And Forecasts, 2017 - 2030 (USD Million)
- 9.4.4. India
- 9.4.4.1. Market Estimates And Forecasts, 2017 - 2030 (USD Million)
- 9.4.5. Australia
- 9.4.5.1. Market Estimates And Forecasts, 2017 - 2030 (USD Million)
- 9.4.6. South Korea
- 9.4.6.1. Market Estimates And Forecasts, 2017 - 2030 (USD Million)
- 9.5. Latin America
- 9.5.1. Market Estimates And Forecasts, 2017 - 2030 (USD Million)
- 9.5.2. Brazil
- 9.5.2.1. Market Estimates And Forecasts, 2017 - 2030 (USD Million)
- 9.5.3. Mexico
- 9.5.3.1. Market Estimates And Forecasts, 2017 - 2030 (USD Million)
- 9.6. Middle East & Africa
- 9.6.1. Market Estimates And Forecasts, 2017 - 2030 (USD Million)
- 9.6.2. Kingdom Of Saudi Arabia
- 9.6.2.1. Market Estimates And Forecasts, 2017 - 2030 (USD Million)
- 9.6.3. UAE
- 9.6.3.1. Market Estimates And Forecasts, 2017 - 2030 (USD Million)
- 9.6.4. South Africa
- 9.6.5. Market Estimates And Forecasts, 2017 - 2030 (USD Million)
Chapter 10. Competitive Landscape
- 10.1. Company Categorization
- 10.2. Company Market Positioning
- 10.3. Company Heat Map Analysis
- 10.4. Strategy Mapping
- 10.5. Company Profiles/listing
- 10.5.1. ATLASSIAN
- 10.5.1.1. Overview
- 10.5.1.2. Financial Performance
- 10.5.1.3. Product Benchmarking
- 10.5.1.4. Strategic Initiatives
- 10.5.2. BMC SOFTWARE, INC
- 10.5.2.1. Overview
- 10.5.2.2. Financial Performance
- 10.5.2.3. Product Benchmarking
- 10.5.2.4. Strategic Initiatives
- 10.5.3. BROADCOM
- 10.5.3.1. Overview
- 10.5.3.2. Financial Performance
- 10.5.3.3. Product Benchmarking
- 10.5.3.4. Strategic Initiatives
- 10.5.4. CLOUD SOFTWARE GROUP, INC
- 10.5.4.1. Overview
- 10.5.4.2. Financial Performance
- 10.5.4.3. Product Benchmarking
- 10.5.4.4. Strategic Initiatives
- 10.5.5. FRESHWORKS INC.
- 10.5.5.1. Overview
- 10.5.5.2. Financial Performance
- 10.5.5.3. Product Benchmarking
- 10.5.5.4. Strategic Initiatives
- 10.5.6. HEWLETT PACKARD ENTERPRISE DEVELOPMENT LP
- 10.5.6.1. Overview
- 10.5.6.2. Financial Performance
- 10.5.6.3. Product Benchmarking
- 10.5.6.4. Strategic Initiatives
- 10.5.7. IBM CORPORATION
- 10.5.7.1. Overview
- 10.5.7.2. Financial Performance
- 10.5.7.3. Product Benchmarking
- 10.5.7.4. Strategic Initiatives
- 10.5.8. IVANTI.
- 10.5.8.1. Overview
- 10.5.8.2. Financial Performance
- 10.5.8.3. Product Benchmarking
- 10.5.8.4. Strategic Initiatives
- 10.5.9. OPEN TEXT
- 10.5.9.1. Overview
- 10.5.9.2. Financial Performance
- 10.5.9.3. Product Benchmarking
- 10.5.9.4. Strategic Initiatives
- 10.5.10. SERVICENOW.
- 10.5.10.1. Overview
- 10.5.10.2. Financial Performance
- 10.5.10.3. Product Benchmarking
- 10.5.10.4. Strategic Initiatives