The total cloud ITSM market size is expected to grow from USD 4,425 million in 2019 to USD 10,383 million by 2024, at a Compound Annual Growth Rate (CAGR) of 18.6% during the forecast period.
The increasing popularity of cloud services has compelled organizations to move on-premises ITSM to cloud. Cloud ITSM is a strategic approach for managing the way IT is used within an enterprise. Over the last decade, the global adoption of the Information Technology Infrastructure Library (ITIL) as the guiding principles of the processes that reinforce ITSM has gained traction. Today's ITIL best practices emphasize on ITSM throughout the life cycle of an IT service: service strategy, service design, service transition, service operations, and continual service improvement.
The ITSM market comprises solutions for service portfolio management, problem and incident management, change and release management, service desk software, and analytics tools to ensure that IT services are tightly aligned to real-world business needs. In the last 5 years, cloud computing has gained much publicity, and there has been growing enterprise acceptance of Software as a Service (SaaS). Cloud solutions are being viewed as an immediate opportunity to quickly and flexibly deliver business-enabling IT services at a lower cost.
Furthermore, the use of ITSM processes and ITIL best practices in the pursuance of IT service delivery optimization has become prevalent across the enterprises. The figure below highlights the market size of the cloud ITSM market.
Key Topics Covered:
1 Introduction 1.1 Objectives of the Study 1.2 Market Definition 1.3 Market Scope 1.3.1 Markets Covered 1.3.2 Years Considered for the Study 1.4 Currency 1.5 Stakeholders
2 Research Methodology 2.1 Research Data 2.1.1 Key Data Taken From Secondary Sources 2.1.2 Key Data Taken From Primary Sources 2.1.3 Key Industry Insights 2.2 Market Size Estimation 2.2.1 Bottom-Up Approach 2.2.2 Top-Down Approach 2.3 Research Assumptions 2.4 Research Limitations
6 Cloud ITSM Market Analysis, By Solution 6.1 Introduction 6.2 Service Portfolio Management 6.3 Configuration And Change Management 6.4 Service Desk Software 6.5 Operations And Performance Management 6.6 Dashboard, Reporting, And Analytics
Note: Segmentation is Subject to Change Based On Primary And Secondary Research
7 Cloud ITSM Market Analysis, By Service 7.1 Introduction 7.2 Professional Services 7.3 Managed Services
8 Cloud ITSM Market Analysis, By Organization Size 8.1 Introduction 8.2 Small and Mid-Sized Enterprises 8.3 Large Enterprises
9 Cloud ITSM Market Analysis, By Vertical 9.1 Retail And Consumer Goods 9.2 Media And Entertainment 9.3 Banking, Financial Services, And Insurance 9.4 It And Telecommunications 9.5 Healthcare And Life Sciences 9.6 Government And Public Sector 9.7 Manufacturing 9.8 Energy and Utilities 9.9 Travel and Hospitality 9.10 Education
10 Cloud ITSM Market Analysis, By Region 10.1 Introduction 10.2 North America 10.2.1 United States 10.2.2 Canada 10.3 Europe 10.3.1 United Kingdom 10.3.2 Germany 10.3.3 France 10.3.4 Rest of Europe 10.4 Asia-Pacific (APAC) 10.4.1 China 10.4.2 Japan 10.4.3 Australia 10.4.4 Rest of Apac 10.5 Middle-East and Africa (MEA) 10.5.1 UAE 10.5.2 KSA 10.5.3 South Africa 10.5.4 Rest of Mea 10.6 Latin America 10.6.1 Brazil 10.6.2 Argentina 10.6.3 Rest of Latam