IT Service Management Market was valued US$ 3.03 Bn in 2022 and is expected to reach US$ 5.02 Bn by 2029, at a 7.50 % CAGR of around during a forecast period.
IT Service Management Market Overview:
The IT Service Management market study gives a complete view of the competition, including the market share and company profiles of the worldwide industry's leading competitors. The scope of the research includes a full assessment of the IT Service Management Market, as well as the reasons for variations in the industry's growth across a number of sectors.
Request for free sample@https://www.maximizemarketresearch.com/request-sample/53106
Market Scope:
To validate the market size and estimate the market size by different segments, top-down and bottom-up methodologies are utilized. The research's market estimates are based on the sale price (excluding any discounts provided by the manufacturer, distributor, wholesaler, or traders). Weights applied to each section based on usage rate and average sale price are used to determine percentage splits, market shares, and segment breakdowns. The percentage adoption or usage of the provided market Size in the relevant area or nation is used to determine the country-wise splits of the overall market and its sub-segments.
Segmentation:
The research offers a thorough segment analysis of the global market, including useful information both at the macro and local levels. Application, End-Use, and Deployment are the market segments. Because of the greater need for IT service management solutions, the BFSI segment, which accounted for the greatest market share by end-use in 2021, is anticipated to rise at the highest CAGR and reach US$ Mn by 2029. Banks all over the world are going through a significant digital shift, and during the past few years, there have been many significant advances, especially in the BFSI environment's IT sector.
by Deployment
Cloud
On-premise
by Application
Configuration Management
Performance Management
Network Management
Database Management System
Other Applications
by End-Use
BFSI
Manufacturing
Government and Education
IT and Telecommunication
Retail
Travel and Hospitality
Healthcare
Other End-user Industries
Key Players:
Primary and secondary research is used to identify market leaders, while primary and secondary research is utilized to determine market revenue. Primary research included in-depth interviews with key opinion leaders and industry specialists such as experienced front-line personnel, CEOs, and marketing executives. Secondary research included a review of the leading manufacturers' annual and financial reports, whereas primary research included in-depth interviews with key opinion leaders and industry specialists such as experienced front-line personnel, CEOs, and marketing executives. Secondary sources are utilized to compute percentage splits, market shares, growth rates, and global market breakdowns, which are then checked using primary data.
The biggest players in the IT Service Management market are as follows:
1. Atlassian
2.BMC Software
3. Ivanti (HEAT Software)
4. IBM
5. SAP
6. Broadcom
7. Axios Systems
8. ASG Software
9. Samanage
10. Symantec
11. Agiloft Service
12. Micro Focus (Formerly HPE)
13. Epicor
14. Ultimo
15. SolarWinds
16. TOPdesk
17. Freshworks
18. SysAid
19. Autotask
20. HPE
21. Microsoft
22. ServiceNow
23. ITSM
24. Hornbill
Request for free sample@https://www.maximizemarketresearch.com/request-sample/53106
Individual market influencing components and changes in market regulations affecting the present and future market trends are also included in the regional overview of the IT Service Management market analysis. Current and future trends are researched in order to assess the entire market potential and identify profitable patterns in order to get a stronger foothold. The geographical market assessment is based on the present environment and expected developments.
COVID-19 Impact Analysis on IT Service Management Market:
Due to a stop in operations, end-user sectors where IT Service Management are used suffered a fall in growth from January 2020 to May 2020 in a number of countries, including China, Italy, Germany, the United Kingdom, and the United States, as well as Spain, France, and India. This resulted in a considerable decline in the revenues of firms in these industries, as well as in demand for IT Service Management manufacturers, hurting the growth of the IT Service Management market in 2020. As a result of lockdowns and a rise in COVID-19 incidents throughout the world, end-user business demand for IT Service Management has fallen.
Key Questions Answered in the IT Service Management Market Report are:
- In 2021, which segment accounted for the most share of the IT Service Management market?
- What is the competitive landscape of the IT Service Management market?
- What are the key factors influencing IT Service Management market growth?
- In the IT Service Management market, which region has the most market share?
- What will be the CAGR of the IT Service Management market during the forecast period (2022-2027)?
About Maximize Market Research:
Maximize Market Research is a multifaceted market research and consulting company comprising professionals from various industries. Our coverage spans medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, automotive, chemical products, general merchandise, beverages, personal care, and automated systems, among others. We provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.
Contact Maximize Market Research:
3rd Floor, Navale IT Park, Phase 2
Pune Bangalore Highway, Narhe,
Pune, Maharashtra 411041, India
+91 96071 95908, +91 9607365656
Follow us
instagram.com | twitter.com | linkedin.com | facebook.com
For this, the technology giants such as HP (U.S.), CA Technologies (U.S.), BMC Software (U.S.), Axios Systems (U.K), Microsoft Corp. (U.S.), are some of the major players who have been influencing IT service management market for years.
Among these, BMC software has been the dominant player in the IT service management market.At the same time, the dominant trend in the IT service management market has also mentioned the emergence of cloud computing, which has significantly influenced the way businesses are being operated.
The ever-increasing adoption of cloud solutions has simultaneously brought a drastic change in the operating models of the business.
Additional factors such as the mounting adoption of IT in several industry verticals are also aiding the market growth inevitably.Market SegmentationAs per the study, type, deployment, and end-user have segmented the global IT service management market.The type segment is classified among IT asset management, configuration management, network management, application performance management, and DBMS management.
The on-cloud records the highest market share as it assists various businesses by reducing the cost associated with the IT infrastructure.
The cloud deployment allows the enterprises to focus eminently on core business competencies with efficiently manage storage and data protection and security, privacy issues, which offers data integrity and information associated with governance to make enterprise legally prepared.Moreover, in terms of the end-user segment: Manufacturing, BFSI, media & entertainment, healthcare, IT & telecommunication, and retail are the segments.Regional FrameworkThe global IT service management market is studied for the key regions of Asia Pacific, North America, Europe, and the Rest of the World.The study observed that the North America region occupied the largest share of the market.
IT Service Management (ITSM) MarketThe sudden challenges created by the ongoing COVID-19 are captured effectively to exhibit the long term growth projections in the MRFR report on IT Service Management (ITSM) Market.
The growth sectors of the IT Service Management (ITSM) Market are identified with precision for a better growth perspective.The diversification of IT services is motivating the growth of the IT service management market globally.
A 12 % CAGR is anticipated to broaden the growth opportunities for the market.The elevated demand for IT asset management, among others, is expected to create a favorable growth trend in the IT service management market.
Furthermore, the surging popularity of cloud computing is expected to further boost the expansion of the market for IT service management in the upcoming years.Segmental AnalysisThe segmentation of the IT service management market is conducted on the basis of deployment, type, region, and end-user.
Based on the deployment, IT service management market is segmented into cloud-based and on-premise.
As per the study, it has been detected that the North American region is responsible for the prime segment of the IT service management market.
