ITSM Market to grow by USD 10,231.88 million from 2022 to 2027|Need for effective enterprise IT service incident and problem management drives the market - Technavio

NEW YORK, July 6, 2023 /PRNewswire/ -- The ITSM market is set to grow by USD 10,231.88 million from 2022 to 2027, progressing at a CAGR of 14.43% during the forecast period. The report offers an up-to-date analysis regarding the current global market scenario, the latest trends and drivers, and the overall market environment. The need for effective enterprise IT service incident and problem management is the major factor driving market growth. ITSM solutions allow sufficient IT incident and problem management across a broad range of businesses and verticals. ITSM solutions streamline the service restoration process after incidents that cause service disruption, and also they provide IT service delivery managers and other users with omnichannel transparency and help related to efficient incident identification, capturing, and prioritization relying on organizational desired goals. Thus, ITSM solutions provide IT service delivery managers with transparency about the occurrence of IT service incidents across the enterprise, which leads to the efficient resolution of incidents and buyer satisfaction. ITSM solutions enable businesses to become more efficient and effective by delivering a unified platform to handle and monitor the performance and availability of IT processes and services to optimize business performance and streamline processes. Here is an Exclusive report about market scenarios with a historical period (2017-2021) and a forecast period (2023-2027). Download Sample Report in minutes!

The ITSM market covers the following areas:

• ITSM Market Sizing
• ITSM Market Forecast
• ITSM Market Analysis

The report on the ITSM market provides a holistic update, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis. 

ITSM Market 2023-2027 - Market Dynamics

Major Trends

Digital business transformation is an emerging trend supporting the ITSM market growth.  Using ITSM principles, methodologies, and technologies, digital transformation is expected to revamp and improve the design, delivery, and management of IT and business services. ITSM solutions are expected to find growing acceptance to improve business transformation. Furthermore, ITSM solutions effectively provide value-added services (VAS) to the customers of businesses, which creates customer-centricity. For example, Fujitsu Ltd. and Inria, the French national research institute for digital science and technology, announced the development of an AI technology that can identify factors contributing to anomalies in time series data, which will be helpful for the data collected in different fields, including healthcare, social infrastructure, and manufacturing in July 2021. Therefore, the continuous transformation of businesses is projected to increase the use of ITSM solutions across various industries and verticals during the forecast period.

Significant Challenge 

Limited accessibility of quality data is the major challenge hindering the ITSM market growth. By the lack of access to quality data, the deployment of ITSM solutions is getting affected. For example, ITSM solutions need exact data to address queries. Thus, the quality of data affects the quality of output in the case of queries. Appropriate data-supporting ITSM solutions are frequently distributed across databases, repositories, systems, and processes across enterprises. Also, They may be distributed across silos. Consequently, To leverage to improve business productivity, they are not readily accessible for ITSM solutions. The inherent inconsistencies in enormous volumes of data across these silos are a significant problem for the deployment of ITSM solutions. In addition, as data is mostly never uniform across businesses, extra expenses are incurred on data cleaning and transformation for efficient use by ITSM solutions. ITSM solutions depend on high-quality and clean data to deliver a singular view of the entire business. Hence, periodical data reconciliation and cleaning are needed to lower data accessibility-related errors. Thus, the accessibility of quality data is a major challenge hindering market growth during the forecast period.

What's New? -

• Special coverage on the Russia-Ukraine war; global inflation; recovery analysis from COVID-19; supply chain disruptions, global trade tensions; and risk of recession
• Global competitiveness and key competitor positions
• Market presence across multiple geographical footprints - Strong/Active/Niche/Trivial - Buy the report!

ITSM Market 2023-2027: Market Segmentation

The ITSM market segmentation by application (CM, ITAM and ITSD, A and PM, NM, and others), deployment (cloud and on-premises), and geography (North America, Europe, APAC, South America, and Middle East and Africa). 

• The market share growth by the CM (Configuration Management) segment will be significant during the forecast period. Configuration management describes the whole business infrastructure. Thus, it is an essential part of ITSM as it forms the base architecture of the entire IT setup of enterprises and it holds all the important data related to the IT services of businesses. Configuration management creates a reliable repository of accurate data on all enterprise IT components to improve IT efficiency. The rising requirement to gather data and dependency information precisely and accurately to establish configuration baselines and standards to track changes and detect variations from the standard configuration boosts the growth of the segment. With the baselines using ITSM, unauthorized variations can be readily eliminated by reconciling. Therefore, configuration management is crucial to assure adherence to best practices in enterprise change management and gain a competitive advantage by optimizing processes and maximizing the ROI.

This report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources through an analysis of key parameters- View Sample Report

Companies Mentioned

• Alemba Ltd.
• Atlassian Corp. Plc
• BMC Software Inc.
• Broadcom Inc.
• Datto Holdings Corp.
• EasyVista SA
• Hewlett Packard Enterprise Co.
• Hornbill Corporate Ltd.
• IFS World Operations AB
• International Business Machines Corp.
• Ivanti Software Inc.
• Micro Focus International Plc
• Microsoft Corp.
• Oracle Corp.
• SAP SE
• ServiceNow Inc.
• SolarWinds Corp.
• Tata Consultancy Services Ltd.
• Fujitsu Ltd.
• LogMeln Inc

Vendor Offerings

• Alemba Ltd. - The company offers ITSM solutions, namely Alemba Service Manager.
• Broadcom Inc. - The company offers ITSM through its subsidiary CA Technologies.
• BMC Software Inc. - The company offers ITSM software, namely BMC Helix ITSM.

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Related Reports

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. 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). The growing need for control and accountability is the key factor driving the global cloud-based IT service management market growth. 

The service integration and management market share is expected to increase by USD 1.39 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 5.81%. This report extensively covers service integration and management market segmentation by application (IT and telecom, BFSI, retail, manufacturing, and others) and geography (North America, Europe, APAC, South America, and the Middle East and Africa). One of the key factors driving growth in the service integration and management market is the growing implementation of Software as a Service (SaaS).

Key Topics Covered:

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 Application
• Exhibit 06: Executive Summary – Chart on Market Segmentation by Deployment
• 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 ITSM market 2017 - 2021 
• Exhibit 18: Historic Market Size – Data Table on Global ITSM market 2017 - 2021 ($ million)

• 4.2 Application Segment Analysis 2017 - 2021
• Exhibit 19: Historic Market Size – Application Segment 2017 - 2021 ($ million)

• 4.3 Deployment Segment Analysis 2017 - 2021
• Exhibit 20: Historic Market Size – Deployment 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 Application

• 6.1 Market segments 
• Exhibit 30: Chart on Application - Market share 2022-2027 (%)
• Exhibit 31: Data Table on Application - Market share 2022-2027 (%)

• 6.2 Comparison by Application 
• Exhibit 32: Chart on Comparison by Application
• Exhibit 33: Data Table on Comparison by Application

• 6.3 CM - Market size and forecast 2022-2027
• Exhibit 34: Chart on CM - Market size and forecast 2022-2027 ($ million)
• Exhibit 35: Data Table on CM - Market size and forecast 2022-2027 ($ million)
• Exhibit 36: Chart on CM - Year-over-year growth 2022-2027 (%)
• Exhibit 37: Data Table on CM - Year-over-year growth 2022-2027 (%)

• 6.4 ITAM and ITSD - Market size and forecast 2022-2027
• Exhibit 38: Chart on ITAM and ITSD - Market size and forecast 2022-2027 ($ million)
• Exhibit 39: Data Table on ITAM and ITSD - Market size and forecast 2022-2027 ($ million)
• Exhibit 40: Chart on ITAM and ITSD - Year-over-year growth 2022-2027 (%)
• Exhibit 41: Data Table on ITAM and ITSD - Year-over-year growth 2022-2027 (%)

• 6.5 A and PM - Market size and forecast 2022-2027
• Exhibit 42: Chart on A and PM - Market size and forecast 2022-2027 ($ million)
• Exhibit 43: Data Table on A and PM - Market size and forecast 2022-2027 ($ million)
• Exhibit 44: Chart on A and PM - Year-over-year growth 2022-2027 (%)
• Exhibit 45: Data Table on A and PM - Year-over-year growth 2022-2027 (%)

• 6.6 NM - Market size and forecast 2022-2027
• Exhibit 46: Chart on NM - Market size and forecast 2022-2027 ($ million)
• Exhibit 47: Data Table on NM - Market size and forecast 2022-2027 ($ million)
• Exhibit 48: Chart on NM - Year-over-year growth 2022-2027 (%)
• Exhibit 49: Data Table on NM - Year-over-year growth 2022-2027 (%)

• 6.7 Others - Market size and forecast 2022-2027
• Exhibit 50: Chart on Others - Market size and forecast 2022-2027 ($ million)
• Exhibit 51: Data Table on Others - Market size and forecast 2022-2027 ($ million)
• Exhibit 52: Chart on Others - Year-over-year growth 2022-2027 (%)
• Exhibit 53: Data Table on Others - Year-over-year growth 2022-2027 (%)

• 6.8 Market opportunity by Application 
• Exhibit 54: Market opportunity by Application ($ million)

7 Market Segmentation by Deployment

• 7.1 Market segments 
• Exhibit 55: Chart on Deployment - Market share 2022-2027 (%)
• Exhibit 56: Data Table on Deployment - Market share 2022-2027 (%)

• 7.2 Comparison by Deployment 
• Exhibit 57: Chart on Comparison by Deployment
• Exhibit 58: Data Table on Comparison by Deployment

• 7.3 Cloud - Market size and forecast 2022-2027
• Exhibit 59: Chart on Cloud - Market size and forecast 2022-2027 ($ million)
• Exhibit 60: Data Table on Cloud - Market size and forecast 2022-2027 ($ million)
• Exhibit 61: Chart on Cloud - Year-over-year growth 2022-2027 (%)
• Exhibit 62: Data Table on Cloud - Year-over-year growth 2022-2027 (%)

• 7.4 On-premises - Market size and forecast 2022-2027
• Exhibit 63: Chart on On-premises - Market size and forecast 2022-2027 ($ million)
• Exhibit 64: Data Table on On-premises - Market size and forecast 2022-2027 ($ million)
• Exhibit 65: Chart on On-premises - Year-over-year growth 2022-2027 (%)
• Exhibit 66: Data Table on On-premises - Year-over-year growth 2022-2027 (%)

• 7.5 Market opportunity by Deployment 
• Exhibit 67: Market opportunity by Deployment ($ 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 UK - Market size and forecast 2022-2027
• Exhibit 97: Chart on UK - Market size and forecast 2022-2027 ($ million)
• Exhibit 98: Data Table on UK - Market size and forecast 2022-2027 ($ million)
• Exhibit 99: Chart on UK - Year-over-year growth 2022-2027 (%)
• Exhibit 100: Data Table on UK - Year-over-year growth 2022-2027 (%)

• 9.10 Germany - Market size and forecast 2022-2027
• Exhibit 101: Chart on Germany - Market size and forecast 2022-2027 ($ million)
• Exhibit 102: Data Table on Germany - Market size and forecast 2022-2027 ($ million)
• Exhibit 103: Chart on Germany - Year-over-year growth 2022-2027 (%)
• Exhibit 104: Data Table on Germany - Year-over-year growth 2022-2027 (%)

• 9.11 China - Market size and forecast 2022-2027
• Exhibit 105: Chart on China - Market size and forecast 2022-2027 ($ million)
• Exhibit 106: Data Table on China - Market size and forecast 2022-2027 ($ million)
• Exhibit 107: Chart on China - Year-over-year growth 2022-2027 (%)
• Exhibit 108: Data Table on China - Year-over-year growth 2022-2027 (%)

• 9.12 India - Market size and forecast 2022-2027
• Exhibit 109: Chart on India - Market size and forecast 2022-2027 ($ million)
• Exhibit 110: Data Table on India - Market size and forecast 2022-2027 ($ million)
• Exhibit 111: Chart on India - Year-over-year growth 2022-2027 (%)
• Exhibit 112: Data Table on India - 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 BMC Software Inc. 
• Exhibit 123: BMC Software Inc. - Overview
• Exhibit 124: BMC Software Inc. - Product / Service
• Exhibit 125: BMC Software Inc. - Key offerings

• 12.5 Broadcom Inc. 
• Exhibit 126: Broadcom Inc. - Overview
• Exhibit 127: Broadcom Inc. - Business segments
• Exhibit 128: Broadcom Inc. - Key news
• Exhibit 129: Broadcom Inc. - Key offerings
• Exhibit 130: Broadcom Inc. - Segment focus

• 12.6 EasyVista SA 
• Exhibit 131: EasyVista SA - Overview
• Exhibit 132: EasyVista SA - Product / Service
• Exhibit 133: EasyVista SA - Key offerings

• 12.7 Fujitsu Ltd. 
• Exhibit 134: Fujitsu Ltd. - Overview
• Exhibit 135: Fujitsu Ltd. - Business segments
• Exhibit 136: Fujitsu Ltd. - Key offerings
• Exhibit 137: Fujitsu Ltd. - Segment focus

• 12.8 Hewlett Packard Enterprise Co. 
• Exhibit 138: Hewlett Packard Enterprise Co. - Overview
• Exhibit 139: Hewlett Packard Enterprise Co. - Business segments
• Exhibit 140: Hewlett Packard Enterprise Co. - Key news
• Exhibit 141: Hewlett Packard Enterprise Co. - Key offerings
• Exhibit 142: Hewlett Packard Enterprise Co. - Segment focus

• 12.9 IFS World Operations AB 
• Exhibit 143: IFS World Operations AB - Overview
• Exhibit 144: IFS World Operations AB - Business segments
• Exhibit 145: IFS World Operations AB - Key offerings
• Exhibit 146: IFS World Operations AB - Segment focus

• 12.10 International Business Machines Corp.
• Exhibit 147: International Business Machines Corp. - Overview
• Exhibit 148: International Business Machines Corp. - Business segments
• Exhibit 149: International Business Machines Corp. - Key offerings
• Exhibit 150: International Business Machines Corp. - Segment focus

• 12.11 Ivanti Software Inc. 
• Exhibit 151: Ivanti Software Inc. - Overview
• Exhibit 152: Ivanti Software Inc. - Product / Service
• Exhibit 153: Ivanti Software Inc. - Key offerings

• 12.12 LogMeln Inc 
• Exhibit 154: LogMeln Inc - Overview
• Exhibit 155: LogMeln Inc - Product / Service
• Exhibit 156: LogMeln Inc - Key offerings

• 12.13 Microsoft Corp. 
• Exhibit 157: Microsoft Corp. - Overview
• Exhibit 158: Microsoft Corp. - Business segments
• Exhibit 159: Microsoft Corp. - Key news
• Exhibit 160: Microsoft Corp. - Key offerings
• Exhibit 161: Microsoft Corp. - Segment focus

• 12.14 Oracle Corp. 
• Exhibit 162: Oracle Corp. - Overview
• Exhibit 163: Oracle Corp. - Business segments
• Exhibit 164: Oracle Corp. - Key news
• Exhibit 165: Oracle Corp. - Key offerings
• Exhibit 166: Oracle Corp. - Segment focus

• 12.15 SAP SE 
• Exhibit 167: SAP SE - Overview
• Exhibit 168: SAP SE - Business segments
• Exhibit 169: SAP SE - Key news
• Exhibit 170: SAP SE - Key offerings
• Exhibit 171: SAP SE - Segment focus

• 12.16 ServiceNow Inc. 
• Exhibit 172: ServiceNow Inc. - Overview
• Exhibit 173: ServiceNow Inc. - Product / Service
• Exhibit 174: ServiceNow Inc. - Key news
• Exhibit 175: ServiceNow Inc. - Key offerings

• 12.17 SolarWinds Corp. 
• Exhibit 176: SolarWinds Corp. - Overview
• Exhibit 177: SolarWinds Corp. - Product / Service
• Exhibit 178: SolarWinds Corp. - Key offerings

13 Appendix

• 13.1 Scope of the report 

• 13.2 Inclusions and exclusions checklist
• Exhibit 179: Inclusions checklist
• Exhibit 180: Exclusions checklist

• 13.3 Currency conversion rates for US$ 
• Exhibit 181: Currency conversion rates for US$

• 13.4 Research methodology 
• Exhibit 182: Research methodology
• Exhibit 183: Validation techniques employed for market sizing
• Exhibit 184: Information sources

• 13.5 List of abbreviations 
• Exhibit 185: List of abbreviations

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