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Cloud-Based ITSM Market by Component, End-user and Geography - Forecast and Analysis 2023-2027

  • Published: Jan 2023
  • Pages: 172
  • SKU: IRTNTR74892
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The cloud-based ITSM market is estimated to grow at a CAGR of 15.08% between 2022 and 2027. The size of the market is forecast to increase by USD 6,094.37 million. The growth of the market depends on serval factors, including the low overhead costs, scalability, and easy usage of cloud-based ITSM solutions, the increasing adoption of cloud-based technologies in SMEs, and the growing need for control and accountability.

This report extensively covers market segmentation by component (solutions and services), end-user (IT and telecom, retail and consumer goods, BFSI, healthcare and life sciences, and others), and geography (North America, Europe, APAC, South America, and Middle East and Africa). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.

What will be the size of the Cloud-Based ITSM Market During the Forecast Period?

Cloud-Based ITSM Market Size

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Parent Market Analysis

Technavio categorizes the global cloud-based IT service management (ITSM) market as a part of the global IT consulting and other services market within the global IT services market. The superparent global IT services market covers companies offering IT consulting and system integration services, application services, electronic data processing services, business process outsourcing services, infrastructure services, and Internet services. The global IT consulting and other services market covers companies that provide information technology consulting and information management services.. Our research report has extensively covered external factors influencing the parent market growth during the forecast period.

Cloud-Based ITSM Market: Key Drivers, Trends, Challenges, and Customer Landscape

The growing need for control and accountability is notably driving market growth, although factors such as growing integration concerns in business organizations may impede market growth. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.

Key Cloud-Based ITSM Market Driver

The growing need for control and accountability is the key factor driving the global cloud-based IT service management market growth. An accurate definition of process responsibilities comes from process standardization. It clearly explains what to expect when ownership is well-defined. Business success and growth results depend on individual efforts. When assigned specific tasks, IT staff are responsible for contributing to the success of their departments and organizations. ITSM technology cannot escape the digitization and cloud-enabled speed of modern IT solutions. By establishing clear ownership of activities and processes, cloud-based ITSM solutions can aid in enhancing accountability.

For instance, the ITSM platform can be used to establish a central knowledge base, ensuring that all data is kept in one location. It is simple for anyone who needs to access it to do so, and tracking changes is simple. It also enables businesses to monitor adherence to corporate policies and procedures. This is crucial for auditing purposes and can assist in spotting possible issues before they have a significant impact. Thus, the growing need for control and accountability is one of the major drivers which are expected to drive the growth of the global could-based ITSM market during the forecast period.

Significant Cloud-Based ITSM Market Trend

The growing adoption of the remote working model is the primary trend in the global cloud-based IT service management market growth. The work-from-home model has become a new standard for businesses following the rapid shift to remote work brought on by the COVID-19 pandemic. This offers a fantastic chance for a cloud-based ITSM solution to show that it is adaptable enough to assist workers wherever they are, whether that be at work, at home, or on the go. Integrations between service desks and cloud-based remote support systems can give IT employees rapid access to any support-related data from any internet-connected device.

While IT professionals address incidents behind the scenes, the user can continue functioning. No matter where the support team (or end-users) is situated, communication is quick, simple, and convenient. Cloud ITSM is a technological concept that enables organizations and business processes to maximize their business values by adopting information technology services. The cloud-based software services enable efficient planning, designing, operating, delivering, and controlling of several IT aspects to cater to customer demand. Thus, the growing adoption of the remote working model is one of the growing trends which is expected to drive the growth of the market during the forecast period.

Major Cloud-Based ITSM Market Challenge

Growing integration concern in business organizations is a major challenge to the global cloud-based IT service management market growth. One of the biggest issues that organizations confront is the process of integrating two or more IT systems. One of the main problems that businesses have when transferring information is the absence of standard methods and integration challenges for various IT systems and their communication protocols. Companies have been expanding recently through alliances, mergers, and acquisitions, as well as acquiring sophisticated and heterogeneous IT environment components.

Moving to the cloud in such a situation becomes a significant issue for many firms. Considering their current IT architecture, businesses struggle to identify the best cloud ITSM solutions and strategies to integrate them effectively. The difficulty of integrating potential ITSM solutions with their complicated heterogeneous environment must be overcome as more businesses move their operations to the cloud, which comes at a higher overhead cost. This can become a major challenge for the growth of the market during the forecast period.

Key Cloud-Based ITSM Market Customer Landscape

The report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.

Cloud-Based ITSM Market Share by Geography

Global Cloud-Based ITSM Market Customer Landscape

Who are the Major Cloud-Based ITSM Market Vendors?

Vendors are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.

atlassian.com - The company offers cloud-based ITSM such as Jira service management. Also, under this segment, the company offers online project management software that includes Jira software, project, and issue tracking, Jira service management icon, Jira align, and enterprise agile planning.

The report also includes detailed analyses of the competitive landscape of the market and information about 15 market vendors, including:

  • Alemba Ltd.
  • BMC Software Inc.
  • Broadcom Inc.
  • Citrix Systems Inc.
  • EasyVista SA
  • Efecte Oyj
  • Freshworks Inc.
  • Hewlett Packard Enterprise Co.
  • Hornbill Corporate Ltd.
  • International Business Machines Corp.
  • ITarian LLC
  • Ivanti Software Inc.
  • Micro Focus International Plc
  • Microsoft Corp.
  • OPGK RZESZOW S.A.

Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.

What is the Fastest-Growing Segment in the Cloud-Based ITSM Market?

The market share growth by the solutions segment will be significant during the forecast period. Solutions accounted for a significant portion of the global cloud-based ITSM market by component in 2022, and it is anticipated that they will continue to hold this position during the forecast period. The requirement for management to develop, plan, operate, deliver, and control the cloud and IT services is the fundamental driver of demand for cloud-based ITSM solutions.

Cloud-Based ITSM Market Size

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The solutions segment was valued at USD 2,304.65 million in 2017 and continue to grow by 2021A factor further driving the demand for cloud-based ITSM solutions is the rise in the number of developers who want to manage the size of an organization after it has been produced to guarantee performance and availability in accordance with service level objectives (SLOs) or service level agreements (SLAs). The service portfolio management, configuration and change management, service desk software, operations and performance management, and dashboard reporting and analytics segments are used to categorize the market based on solutions. Owing to its user-friendliness and the developer's ability to display the required graphs and charts coupled with spreadsheets, the dashboard report and analytics sub-segment in the solutions segment is predicted to hold a sizable portion of the market during the forecast period.

Which are the Key Regions for the Cloud-Based ITSM Market?

Cloud-Based ITSM Market Share by Geography

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North America is estimated to contribute 39% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. The cloud-based ITSM market in North America is anticipated to experience favorable growth during the forecast period owing to the presence of numerous solution providers in the US and the rising adoption of BYOD policies in the region. North America presents prospective growth opportunities as the region's technology adoption is increasing, and businesses are concentrating on providing superior customer experiences to set themselves apart from rivals. Moreover, The increasing adoption of hybrid and remote work models by the key vendors operating in the region is focusing on developing remote support service solutions. For users who choose to use Freshworks software services, the alliance aims to offer cutting-edge remote assistance solutions. Such initiatives taken by vendors in the region are expected to drive the growth of the cloud-based ITSM market in North America during the forecast period.

In 2020, the outbreak of COVID-19 severely affected the growth of the cloud-based ITSM market in North America. However, the initiation of vaccination drives across Europe since the second half of 2020 helped industries reopen and resume operations and has led to an increase in demand for cloud-based ITSM solutions in the first half of 2021. Moreover, increasing demand for ITSM solutions from end-user industries such as IT and telecom and BFSI is encouraging vendors to venture into strategic alliances to expand their market reach and customer base. Vendors that offer ITSM solutions are making significant investments in joint ventures (JVs), mergers, and services to increase their market share in the region. Hewlett Packard Enterprise unveiled new vertically optimized HPE GreenLake cloud services in June 2021 that are intended to provide the cloud experience for the workloads and apps that businesses rely on to run their operations. These include SAP, Microsoft Azure Stack HCI, Microsoft SQL Server, and the management of electronic medical records, financial payments, risk management, and machine learning activities. Such initiatives taken by the vendors in the region are expected to drive the growth of the cloud-based ITSM market in North America during the forecast period.

Segment Overview

The report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027. 

  • Component Outlook (USD Million, 2017 - 2027)
    • Solutions
    • Services
  • End-user Outlook (USD Million, 2017 - 2027)
    • IT and telecom
    • Retail and consumer goods
    • BFSI
    • Healthcare and life sciences
    • Others
  • Region Outlook (USD Million, 2017 - 2027)
    • North America
      • The U.S.
      • Canada
    • Europe
      • The U.K.
      • Germany
      • France
      • Rest of Europe
    • APAC
      • China
      • India
    • South America
      • Chile
      • Argentina
      • Brazil
    • Middle East & Africa
      • Saudi Arabia
      • South Africa
      • Rest of the Middle East & Africa

Cloud-Based ITSM Market Scope

Report Coverage

Details

Page number

172

Base year

2022

Historic period

2017-2021

Forecast period

2023-2027

Growth momentum & CAGR

Accelerate at a CAGR of 15.08%

Market growth 2023-2027

USD 6,094.37 million

Market structure

Fragmented

YoY growth 2022-2023(%)

11.65

Regional analysis

North America, Europe, APAC, South America, and Middle East and Africa

Performing market contribution

North America at 39%

Key countries

US, Canada, China, UK, and Germany

Competitive landscape

Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks

Key companies profiled

Alemba Ltd., Atlassian Corp. Plc, BMC Software Inc., Broadcom Inc., Citrix Systems Inc., EasyVista SA, Efecte Oyj, Freshworks Inc., Hewlett Packard Enterprise Co., Hornbill Corporate Ltd., International Business Machines Corp., ITarian LLC, Ivanti Software Inc., Micro Focus International Plc, Microsoft Corp., OPGK RZESZOW S.A., ServiceNow Inc., SymphonyAI Summit, SysAid Technologies Ltd, and Zoho Corp. Pvt. Ltd.

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period.

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Cloud-Based ITSM Market Report?

  • CAGR of the market during the forecast period
  • Detailed information on factors that will drive the growth of the cloud-based ITSM market between 2023 and 2027
  • Precise estimation of the size of the cloud-based ITSM market size and its contribution to the parent market
  • Accurate predictions about upcoming trends and changes in consumer behavior
  • Growth of the market industry across North America, Europe, APAC, South America, and Middle East and Africa
  • Thorough analysis of the market’s competitive landscape and detailed information about vendors
  • Comprehensive analysis of factors that will challenge the growth of cloud-based ITSM market vendors

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1 Executive Summary

  • 1.1 Market overview
    • Exhibit 01: Executive Summary – Chart on Market Overview
    • Exhibit 02: Executive Summary – Data Table on Market Overview
    • Exhibit 03: Executive Summary – Chart on Global Market Characteristics
    • Exhibit 04: Executive Summary – Chart on Market by Geography
    • Exhibit 05: Executive Summary – Chart on Market Segmentation by Component
    • Exhibit 06: Executive Summary – Chart on Market Segmentation by End-user
    • Exhibit 07: Executive Summary – Chart on Incremental Growth
    • Exhibit 08: Executive Summary – Data Table on Incremental Growth
    • Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

  • 2.1 Market ecosystem
    • Exhibit 10: Parent market
    • Exhibit 11: Market Characteristics

3 Market Sizing

  • 3.1 Market definition
    • Exhibit 12: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis
    • Exhibit 13: Market segments
  • 3.3 Market size 2022
    • 3.4 Market outlook: Forecast for 2022-2027
      • Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ million)
      • Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ million)
      • Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
      • Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

    4 Historic Market Size

    • 4.1 Global cloud-based ITSM market 2017 - 2021
      • Exhibit 18: Historic Market Size – Data Table on Global cloud-based ITSM market 2017 - 2021 ($ million)
    • 4.2 Components Segment Analysis 2017 - 2021
      • Exhibit 19: Historic Market Size – Components Segment 2017 - 2021 ($ million)
    • 4.3 End-user Segment Analysis 2017 - 2021
      • Exhibit 20: Historic Market Size – End-user Segment 2017 - 2021 ($ million)
    • 4.4 Geography Segment Analysis 2017 - 2021
      • Exhibit 21: Historic Market Size – Geography Segment 2017 - 2021 ($ million)
    • 4.5 Country Segment Analysis 2017 - 2021
      • Exhibit 22: Historic Market Size – Country Segment 2017 - 2021 ($ million)

    5 Five Forces Analysis

    • 5.1 Five forces summary
      • Exhibit 23: Five forces analysis - Comparison between 2022 and 2027
    • 5.2 Bargaining power of buyers
      • Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027
    • 5.3 Bargaining power of suppliers
      • Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027
    • 5.4 Threat of new entrants
      • Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027
    • 5.5 Threat of substitutes
      • Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027
    • 5.6 Threat of rivalry
      • Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027
    • 5.7 Market condition
      • Exhibit 29: Chart on Market condition - Five forces 2022 and 2027

    6 Market Segmentation by Component

    • 6.1 Market segments
      • Exhibit 30: Chart on Component - Market share 2022-2027 (%)
      • Exhibit 31: Data Table on Component - Market share 2022-2027 (%)
    • 6.2 Comparison by Component
      • Exhibit 32: Chart on Comparison by Component
      • Exhibit 33: Data Table on Comparison by Component
    • 6.3 Solutions - Market size and forecast 2022-2027
      • Exhibit 34: Chart on Solutions - Market size and forecast 2022-2027 ($ million)
      • Exhibit 35: Data Table on Solutions - Market size and forecast 2022-2027 ($ million)
      • Exhibit 36: Chart on Solutions - Year-over-year growth 2022-2027 (%)
      • Exhibit 37: Data Table on Solutions - Year-over-year growth 2022-2027 (%)
    • 6.4 Services - Market size and forecast 2022-2027
      • Exhibit 38: Chart on Services - Market size and forecast 2022-2027 ($ million)
      • Exhibit 39: Data Table on Services - Market size and forecast 2022-2027 ($ million)
      • Exhibit 40: Chart on Services - Year-over-year growth 2022-2027 (%)
      • Exhibit 41: Data Table on Services - Year-over-year growth 2022-2027 (%)
    • 6.5 Market opportunity by Component
      • Exhibit 42: Market opportunity by Component ($ million)

    7 Market Segmentation by End-user

    • 7.1 Market segments
      • Exhibit 43: Chart on End-user - Market share 2022-2027 (%)
      • Exhibit 44: Data Table on End-user - Market share 2022-2027 (%)
    • 7.2 Comparison by End-user
      • Exhibit 45: Chart on Comparison by End-user
      • Exhibit 46: Data Table on Comparison by End-user
    • 7.3 IT and telecom - Market size and forecast 2022-2027
      • Exhibit 47: Chart on IT and telecom - Market size and forecast 2022-2027 ($ million)
      • Exhibit 48: Data Table on IT and telecom - Market size and forecast 2022-2027 ($ million)
      • Exhibit 49: Chart on IT and telecom - Year-over-year growth 2022-2027 (%)
      • Exhibit 50: Data Table on IT and telecom - Year-over-year growth 2022-2027 (%)
    • 7.4 Retail and consumer goods - Market size and forecast 2022-2027
      • Exhibit 51: Chart on Retail and consumer goods - Market size and forecast 2022-2027 ($ million)
      • Exhibit 52: Data Table on Retail and consumer goods - Market size and forecast 2022-2027 ($ million)
      • Exhibit 53: Chart on Retail and consumer goods - Year-over-year growth 2022-2027 (%)
      • Exhibit 54: Data Table on Retail and consumer goods - Year-over-year growth 2022-2027 (%)
    • 7.5 BFSI - Market size and forecast 2022-2027
      • Exhibit 55: Chart on BFSI - Market size and forecast 2022-2027 ($ million)
      • Exhibit 56: Data Table on BFSI - Market size and forecast 2022-2027 ($ million)
      • Exhibit 57: Chart on BFSI - Year-over-year growth 2022-2027 (%)
      • Exhibit 58: Data Table on BFSI - Year-over-year growth 2022-2027 (%)
    • 7.6 Healthcare and life sciences - Market size and forecast 2022-2027
      • Exhibit 59: Chart on Healthcare and life sciences - Market size and forecast 2022-2027 ($ million)
      • Exhibit 60: Data Table on Healthcare and life sciences - Market size and forecast 2022-2027 ($ million)
      • Exhibit 61: Chart on Healthcare and life sciences - Year-over-year growth 2022-2027 (%)
      • Exhibit 62: Data Table on Healthcare and life sciences - Year-over-year growth 2022-2027 (%)
    • 7.7 Others - Market size and forecast 2022-2027
      • Exhibit 63: Chart on Others - Market size and forecast 2022-2027 ($ million)
      • Exhibit 64: Data Table on Others - Market size and forecast 2022-2027 ($ million)
      • Exhibit 65: Chart on Others - Year-over-year growth 2022-2027 (%)
      • Exhibit 66: Data Table on Others - Year-over-year growth 2022-2027 (%)
    • 7.8 Market opportunity by End-user
      • Exhibit 67: Market opportunity by End-user ($ million)

    8 Customer Landscape

    • 8.1 Customer landscape overview
      • Exhibit 68: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

    9 Geographic Landscape

    • 9.1 Geographic segmentation
      • Exhibit 69: Chart on Market share by geography 2022-2027 (%)
      • Exhibit 70: Data Table on Market share by geography 2022-2027 (%)
    • 9.2 Geographic comparison
      • Exhibit 71: Chart on Geographic comparison
      • Exhibit 72: Data Table on Geographic comparison
    • 9.3 North America - Market size and forecast 2022-2027
      • Exhibit 73: Chart on North America - Market size and forecast 2022-2027 ($ million)
      • Exhibit 74: Data Table on North America - Market size and forecast 2022-2027 ($ million)
      • Exhibit 75: Chart on North America - Year-over-year growth 2022-2027 (%)
      • Exhibit 76: Data Table on North America - Year-over-year growth 2022-2027 (%)
    • 9.4 Europe - Market size and forecast 2022-2027
      • Exhibit 77: Chart on Europe - Market size and forecast 2022-2027 ($ million)
      • Exhibit 78: Data Table on Europe - Market size and forecast 2022-2027 ($ million)
      • Exhibit 79: Chart on Europe - Year-over-year growth 2022-2027 (%)
      • Exhibit 80: Data Table on Europe - Year-over-year growth 2022-2027 (%)
    • 9.5 APAC - Market size and forecast 2022-2027
      • Exhibit 81: Chart on APAC - Market size and forecast 2022-2027 ($ million)
      • Exhibit 82: Data Table on APAC - Market size and forecast 2022-2027 ($ million)
      • Exhibit 83: Chart on APAC - Year-over-year growth 2022-2027 (%)
      • Exhibit 84: Data Table on APAC - Year-over-year growth 2022-2027 (%)
    • 9.6 South America - Market size and forecast 2022-2027
      • Exhibit 85: Chart on South America - Market size and forecast 2022-2027 ($ million)
      • Exhibit 86: Data Table on South America - Market size and forecast 2022-2027 ($ million)
      • Exhibit 87: Chart on South America - Year-over-year growth 2022-2027 (%)
      • Exhibit 88: Data Table on South America - Year-over-year growth 2022-2027 (%)
    • 9.7 Middle East and Africa - Market size and forecast 2022-2027
      • Exhibit 89: Chart on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
      • Exhibit 90: Data Table on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
      • Exhibit 91: Chart on Middle East and Africa - Year-over-year growth 2022-2027 (%)
      • Exhibit 92: Data Table on Middle East and Africa - Year-over-year growth 2022-2027 (%)
    • 9.8 US - Market size and forecast 2022-2027
      • Exhibit 93: Chart on US - Market size and forecast 2022-2027 ($ million)
      • Exhibit 94: Data Table on US - Market size and forecast 2022-2027 ($ million)
      • Exhibit 95: Chart on US - Year-over-year growth 2022-2027 (%)
      • Exhibit 96: Data Table on US - Year-over-year growth 2022-2027 (%)
    • 9.9 China - Market size and forecast 2022-2027
      • Exhibit 97: Chart on China - Market size and forecast 2022-2027 ($ million)
      • Exhibit 98: Data Table on China - Market size and forecast 2022-2027 ($ million)
      • Exhibit 99: Chart on China - Year-over-year growth 2022-2027 (%)
      • Exhibit 100: Data Table on China - Year-over-year growth 2022-2027 (%)
    • 9.10 UK - Market size and forecast 2022-2027
      • Exhibit 101: Chart on UK - Market size and forecast 2022-2027 ($ million)
      • Exhibit 102: Data Table on UK - Market size and forecast 2022-2027 ($ million)
      • Exhibit 103: Chart on UK - Year-over-year growth 2022-2027 (%)
      • Exhibit 104: Data Table on UK - Year-over-year growth 2022-2027 (%)
    • 9.11 Canada - Market size and forecast 2022-2027
      • Exhibit 105: Chart on Canada - Market size and forecast 2022-2027 ($ million)
      • Exhibit 106: Data Table on Canada - Market size and forecast 2022-2027 ($ million)
      • Exhibit 107: Chart on Canada - Year-over-year growth 2022-2027 (%)
      • Exhibit 108: Data Table on Canada - Year-over-year growth 2022-2027 (%)
    • 9.12 Germany - Market size and forecast 2022-2027
      • Exhibit 109: Chart on Germany - Market size and forecast 2022-2027 ($ million)
      • Exhibit 110: Data Table on Germany - Market size and forecast 2022-2027 ($ million)
      • Exhibit 111: Chart on Germany - Year-over-year growth 2022-2027 (%)
      • Exhibit 112: Data Table on Germany - Year-over-year growth 2022-2027 (%)
    • 9.13 Market opportunity by geography
      • Exhibit 113: Market opportunity by geography ($ million)

    10 Drivers, Challenges, and Trends

    • 10.1 Market drivers
      • 10.2 Market challenges
        • 10.3 Impact of drivers and challenges
          • Exhibit 114: Impact of drivers and challenges in 2022 and 2027
        • 10.4 Market trends

          11 Vendor Landscape

          • 11.1 Overview
            • 11.2 Vendor landscape
              • Exhibit 115: Overview on Criticality of inputs and Factors of differentiation
            • 11.3 Landscape disruption
              • Exhibit 116: Overview on factors of disruption
            • 11.4 Industry risks
              • Exhibit 117: Impact of key risks on business

            12 Vendor Analysis

            • 12.1 Vendors covered
              • Exhibit 118: Vendors covered
            • 12.2 Market positioning of vendors
              • Exhibit 119: Matrix on vendor position and classification
            • 12.3 Alemba Ltd.
              • Exhibit 120: Alemba Ltd. - Overview
              • Exhibit 121: Alemba Ltd. - Product / Service
              • Exhibit 122: Alemba Ltd. - Key offerings
            • 12.4 Atlassian Corp. Plc
              • Exhibit 123: Atlassian Corp. Plc - Overview
              • Exhibit 124: Atlassian Corp. Plc - Product / Service
              • Exhibit 125: Atlassian Corp. Plc - Key offerings
            • 12.5 BMC Software Inc.
              • Exhibit 126: BMC Software Inc. - Overview
              • Exhibit 127: BMC Software Inc. - Product / Service
              • Exhibit 128: BMC Software Inc. - Key offerings
            • 12.6 Broadcom Inc.
              • Exhibit 129: Broadcom Inc. - Overview
              • Exhibit 130: Broadcom Inc. - Business segments
              • Exhibit 131: Broadcom Inc. - Key news
              • Exhibit 132: Broadcom Inc. - Key offerings
              • Exhibit 133: Broadcom Inc. - Segment focus
            • 12.7 Citrix Systems Inc.
              • Exhibit 134: Citrix Systems Inc. - Overview
              • Exhibit 135: Citrix Systems Inc. - Product / Service
              • Exhibit 136: Citrix Systems Inc. - Key news
              • Exhibit 137: Citrix Systems Inc. - Key offerings
            • 12.8 EasyVista SA
              • Exhibit 138: EasyVista SA - Overview
              • Exhibit 139: EasyVista SA - Product / Service
              • Exhibit 140: EasyVista SA - Key offerings
            • 12.9 Freshworks Inc.
              • Exhibit 141: Freshworks Inc. - Overview
              • Exhibit 142: Freshworks Inc. - Product / Service
              • Exhibit 143: Freshworks Inc. - Key offerings
            • 12.10 Hewlett Packard Enterprise Co.
              • Exhibit 144: Hewlett Packard Enterprise Co. - Overview
              • Exhibit 145: Hewlett Packard Enterprise Co. - Business segments
              • Exhibit 146: Hewlett Packard Enterprise Co. - Key news
              • Exhibit 147: Hewlett Packard Enterprise Co. - Key offerings
              • Exhibit 148: Hewlett Packard Enterprise Co. - Segment focus
            • 12.11 Hornbill Corporate Ltd.
              • Exhibit 149: Hornbill Corporate Ltd. - Overview
              • Exhibit 150: Hornbill Corporate Ltd. - Product / Service
              • Exhibit 151: Hornbill Corporate Ltd. - Key offerings
            • 12.12 International Business Machines Corp.
              • Exhibit 152: International Business Machines Corp. - Overview
              • Exhibit 153: International Business Machines Corp. - Business segments
              • Exhibit 154: International Business Machines Corp. - Key news
              • Exhibit 155: International Business Machines Corp. - Key offerings
              • Exhibit 156: International Business Machines Corp. - Segment focus
            • 12.13 Ivanti Software Inc.
              • Exhibit 157: Ivanti Software Inc. - Overview
              • Exhibit 158: Ivanti Software Inc. - Product / Service
              • Exhibit 159: Ivanti Software Inc. - Key offerings
            • 12.14 Micro Focus International Plc
              • Exhibit 160: Micro Focus International Plc - Overview
              • Exhibit 161: Micro Focus International Plc - Product / Service
              • Exhibit 162: Micro Focus International Plc - Key news
              • Exhibit 163: Micro Focus International Plc - Key offerings
            • 12.15 Microsoft Corp.
              • Exhibit 164: Microsoft Corp. - Overview
              • Exhibit 165: Microsoft Corp. - Business segments
              • Exhibit 166: Microsoft Corp. - Key news
              • Exhibit 167: Microsoft Corp. - Key offerings
              • Exhibit 168: Microsoft Corp. - Segment focus
            • 12.16 ServiceNow Inc.
              • Exhibit 169: ServiceNow Inc. - Overview
              • Exhibit 170: ServiceNow Inc. - Product / Service
              • Exhibit 171: ServiceNow Inc. - Key news
              • Exhibit 172: ServiceNow Inc. - Key offerings
            • 12.17 SysAid Technologies Ltd
              • Exhibit 173: SysAid Technologies Ltd - Overview
              • Exhibit 174: SysAid Technologies Ltd - Product / Service
              • Exhibit 175: SysAid Technologies Ltd - Key offerings

            13 Appendix

            • 13.1 Scope of the report
              • 13.2 Inclusions and exclusions checklist
                • Exhibit 176: Inclusions checklist
                • Exhibit 177: Exclusions checklist
              • 13.3 Currency conversion rates for US$
                • Exhibit 178: Currency conversion rates for US$
              • 13.4 Research methodology
                • Exhibit 179: Research methodology
                • Exhibit 180: Validation techniques employed for market sizing
                • Exhibit 181: Information sources
              • 13.5 List of abbreviations
                • Exhibit 182: List of abbreviations

              Research Framework

              Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

              TechnavioINFORMATION SOURCES

              Primary sources

              • Manufacturers and suppliers
              • Channel partners
              • Industry experts
              • Strategic decision makers

              Secondary sources

              • Industry journals and periodicals
              • Government data
              • Financial reports of key industry players
              • Historical data
              • Press releases
              Technavio

              TechnavioDATA ANALYSIS

              Data Synthesis

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              Cloud-Based ITSM market growth will increase by $6094.37 million during 2023-2027.
              The cloud-based itsm market is expected to grow at a CAGR of 15.08% during 2023-2027.
              Technavio has segmented the cloud-based itsm market by component (Solutions and Services) ,end-user (IT and telecom, Retail and consumer goods, BFSI, Healthcare and life sciences, and Others) , and geography (North America, Europe, APAC, South America, and Middle East and Africa).
              Alemba Ltd., Atlassian Corp. Plc, BMC Software Inc., Broadcom Inc., Citrix Systems Inc., EasyVista SA, Efecte Oyj, Freshworks Inc., Hewlett Packard Enterprise Co., Hornbill Corporate Ltd., International Business Machines Corp., ITarian LLC, Ivanti Software Inc., Micro Focus International Plc, Microsoft Corp., OPGK RZESZOW S.A., ServiceNow Inc., SymphonyAI Summit, SysAid Technologies Ltd, Zoho Corp. Pvt. Ltd. are a few of the key vendors in the cloud-based itsm market.
              North America will register the highest growth rate of 38.61% among the other regions. Therefore, the cloud-based itsm market in North America is expected to garner significant business opportunities for the vendors during the forecast period.
              The key factors driving the cloud-based itsm market growth are:
              • Low overhead costs, scalability, and easy usage of cloud-based ITSM solutions
              • Growing digitalization of businesses
              The cloud-based itsm market vendors should focus on grabbing business opportunities from the solutions segment as it accounted for the largest market share in the base year.
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