Valued to be $5 Billion by 2026, IT Service Management Tools Slated for Healthy Growth Worldwide
19 Oct, 2021, 11:15 ET
SAN FRANCISCO, Oct. 19, 2021 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "IT Service Management Tools - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.
FACTS AT A GLANCE
Edition: 7; Released: April 2021
Executive Pool: 3477
Companies: 12 - Players covered include ASG Technologies Group, Inc.; Atlassian Corporation Plc; Axios Systems PLC; BMC Software, Inc.; CA Technologies, Inc.; Cherwell Software, LLC; IBM Corporation; Ivanti Software; SAP SE; ServiceNow, Inc. and Others.
Coverage: All major geographies and key segments
Segments: Deployment (On-premise, Cloud); End-Use Industry (Banking and Finance, IT and ITES, Telecommunication, Media, Publishing and Broadcasting and Entertainment, Other End-Use Industries); Type (Configuration Management, Performance Management, Network Management, Database Management)
Geographies: World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; and Rest of Europe); Asia-Pacific; Rest of World.
Complimentary Project Preview - This is an ongoing global program. Preview our research program before you make a purchase decision. We are offering a complimentary access to qualified executives driving strategy, business development, sales & marketing, and product management roles at featured companies. Previews provide deep insider access to business trends; competitive brands; domain expert profiles; and market data templates and much more. You may also build your own bespoke report using our MarketGlass™ Platform which offers thousands of data bytes without an obligation to purchase our report. Preview Registry
Global IT Service Management Tools Market to Reach $5 Billion by 2026
Amid the COVID-19 crisis, the global market for IT Service Management Tools estimated at US$3 Billion in the year 2020, is projected to reach a revised size of US$5 Billion by 2026, growing at a CAGR of 8.9% over the analysis period. Configuration Management, one of the segments analyzed in the report, is projected to record a 8.7% CAGR and reach US$1.7 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Performance Management segment is readjusted to a revised 8.8% CAGR for the next 7-year period.
The U.S. Market is Estimated at $998.5 Million in 2021, While China is Forecast to Reach $833.2 Million by 2026
The IT Service Management Tools market in the U.S. is estimated at US$998.5 Million in the year 2021. China, the world`s second largest economy, is forecast to reach a projected market size of US$833.2 Million by the year 2026 trailing a CAGR of 7.5% over the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 7.4% and 8% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 4.5% CAGR.
Network Management Segment to Reach US$1.2 Billion by the year 2026
In the global Network Management segment, USA, Canada, Japan, China and Europe will drive the 8.3% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$595.3 Million in the year 2020 will reach a projected size of US$1 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. More
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Global Industry Analysts, Inc., (www.strategyr.com) is a renowned market research publisher the world`s only influencer driven market research company. Proudly serving more than 42,000 clients from 36 countries, GIA is recognized for accurate forecasting of markets and industries for over 33 years.
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Global Industry Analysts, Inc.
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