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ITSM Market by Application and Geography - Forecast and Analysis 2021-2025

  • Published: Aug 2021
  • Pages: 120
  • SKU: IRTNTR40526
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The ITSM market has the potential to grow by USD 11.51 billion during 2021-2025, and the market’s growth momentum will accelerate at a CAGR of 19.08%.

This ITSM market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers market segmentation by application (CM, ITAM and ITSD, A and PM, NM, and others) and geography (North America, Europe, APAC, South America, and MEA). The ITSM market report also offers information on several market vendors, including 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. among others.

What will the ITSM Market Size be in 2021?

ITSM-Market-Market-Size-2020-2025

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ITSM Market: Key Drivers and Trends

Based on our research output, there has been a neutral impact on the market growth during and post COVID-19 era. Effective enterprise IT service incidents and problem management are notably driving the ITSM market growth, although factors such as accessibility of quality data may impede market growth. To unlock information on the key market drivers and the COVID-19 pandemic impact on the ITSM market industry get your FREE report sample now.

  • ITSM solutions enable effective IT incident and problem management across a wide range of enterprises and verticals.
  • These solutions streamline the service restoration process after incidents that cause service disruption and provide IT service delivery managers and other users omnichannel transparency and support related to efficient incident identification, capturing, and prioritization.
  • ITSM solutions enable enterprises to become efficient and productive by providing a unified platform to manage and monitor the performance and availability of IT processes and services to optimize business performance and streamline processes.
  • Enhanced customer and user experience by minimizing the impact of service disruptions is one of the critical ITSM market trends driving the market growth.
  • ITSM solutions accelerate the service restoration process by maintaining a knowledge base of all known and recent IT service incidents and their solutions and workarounds.
  • They correlate the data with the occurrence of future incidents and also analyze the root cause of such incidents.
  • Businesses and enterprises ensure that their customers and users have a positive experience, and in case of any discrepancy, they can resolve the issue quickly to realign the services to the needs and requirements of customers and users.

This ITSM market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. Get detailed insights on the trends and challenges, which will help companies evaluate and develop growth strategies.

Who are the Major ITSM Market Vendors?

The report analyzes the market’s competitive landscape and offers information on several market vendors, 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 the vendors are deploying growth strategies such as focusing on advanced technologies to compete in the market. Click here to uncover other successful business strategies deployed by the vendors. 

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

Download a free sample of the ITSM market forecast report for insights on complete key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies. 

Which are the Key Regions for ITSM Market?

ITSM-Market-Market-Share-by-Region-2020-2025

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43% of the market’s growth will originate from North America during the forecast period. The US is a key market for ITSM in North America. Market growth in this region will be faster than the growth of the market in MEA and South America.

The increasing adoption of cloud-based ITSM solutions by government organizations will facilitate the ITSM market growth in North America over the forecast period. To garner further competitive intelligence and regional opportunities in store for vendors, view our sample report.

What are the Revenue-generating Application Segments in the ITSM Market?

ITSM-Market-Market-Share-by-Application-2020-2025

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The ITSM market share growth by the configuration management (CM) segment will be significant during the forecast period. Configuration management (CM) is the basis of ITSM solutions as it holds all the vital data related to the IT services of enterprises. The growth of the configuration management segment is driven by the increasing need for unified and accurate technical and relational data on configuration items (CIs) to monitor the IT infrastructure and deliver IT services by ensuring integrity, stability, and continuous service operation to improve customer centricity and profitability.

Fetch actionable market insights on post COVID-19 impact on each segment. This report provides an accurate prediction of the contribution of all the segments to the growth of the ITSM market size.

 

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What are the Key Factors Covered in this ITSM Market Report?

  • CAGR of the market during the forecast period 2021-2025
  • Detailed information on factors that will drive ITSM market growth during the next five years
  • Precise estimation of the ITSM market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the ITSM industry across North America, Europe, APAC, South America, and MEA
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of ITSM market vendors

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ITSM Market Scope

Report Coverage

Details

Page number

120

Base year

2020

Forecast period

2021-2025

Growth momentum & CAGR

Accelerate at a CAGR of 19.08%

Market growth 2021-2025

$ 11.51 billion

Market structure

Fragmented

YoY growth (%)

17.86

Regional analysis

North America, Europe, APAC, South America, and MEA

Performing market contribution

North America at 43%

Key consumer countries

US, UK, Germany, China, and France

Competitive landscape

Leading companies, competitive strategies, consumer engagement scope

Companies 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.

Market Dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact 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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Executive Summary

    Market Landscape

    • Market ecosystem
    • Value chain analysis

    Market Sizing

    • Market definition
    • Market segment analysis
    • Market size 2020
    • Market outlook: Forecast for 2020 - 2025

    Five Forces Analysis

    • Bargaining power of buyers
    • Bargaining power of suppliers
    • Threat of new entrants
    • Threat of substitutes
    • Threat of rivalry
    • Market condition

    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
    • Others - Market size and forecast 2020-2025
    • Market opportunity by Application

    Customer landscape

    • Customer landscape

    Geographic Landscape

    • Geographic segmentation
    • Geographic 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
    • Key leading countries
    • Market opportunity by geography
    • Market drivers
    • Market challenges
    • Market trends

    Vendor Landscape

    • Overview
    • Landscape disruption

    Vendor Analysis

    • Vendors covered
    • 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

    • Scope of the report
    • Currency conversion rates for US$
    • Research methodology
    • 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

    • Collation of data
    • Estimation of key figures
    • Analysis of derived insights

    Data Validation

    • Triangulation with data models
    • Reference against proprietary databases
    • Corroboration with industry experts
    Technavio

    TechnavioREPORT WRITING

    Qualitative

    • Market drivers
    • Market challenges
    • Market trends
    • Five forces analysis

    Quantitative

    • Market size and forecast
    • Market segmentation
    • Geographical insights
    • Competitive landscape
    Interested in this report?
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    The itsm market market growth will increase by $3299.98 million during 2020-2024.
    The itsm market market is expected to grow at a CAGR of 8.88% during 2020-2024.
    Technavio has segmented the itsm market market by end user (IT and telecom, BFSI, Public sector, and Others) ,other 1 (EMV and Non-EMV) , and geographic (North America, Europe, APAC, and South America).
    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. are a few of the key vendors in the itsm market market.
    North America will register the highest growth rate of 44.85% among the other regions. Therefore, the itsm market market in North America is expected to garner significant business opportunities for the vendors during the forecast period.
    • US
    • Canada
    • Germany
    • China
    • France
    The key factors driving the itsm market market growth are:
    • Effective enterprise IT service incident and problem management
    • Expected rise in demand for temperature-sensitive products
    The itsm market market vendors should focus on grabbing business opportunities from the it and telecom segment as it accounted for the largest market share in the base year.
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