IT Service Management Tools Market
Global IT Service Management Market information research report, by application (configuration management, IT asset management, application performance management, network management, DBMS management), by end users (Manufacturing,Healthcare/Medical/Pharmaceutical, Hospitality/Entertainment/ Recreation/ Travel, Telecom and IT) — Global Forecast 2027
Global IT Service Management Market research report, by application (configuration management), by end users(Manufacturing and IT) — Forecast 2027
Learning Objectives
· To provide insights about factors affecting the market growth
· To analyze the IT Service Management market based on various factors- price analysis, supply chain analysis, porter’s five force analysis etc.
· To provide historical and forecast revenue of the market segments and sub-segments with respect to four main geographies and their countries- North America, Europe, Asia, and Rest of the World (ROW)
· To provide country level analysis of the market with respect to the current market size and future prospective
· To provide country level analysis of the market for segment, by application, by end user and sub-segments.
· To provide strategic profiling of key players in the market, comprehensively analyzing their core competencies, and drawing a competitive landscape for the market
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Market Outlook:
IT service management is a process based practice which is designed to deliver the information technological services to the enterprise and within the need of customers. In past couple of years, this market has been growing tremendously as the information sector is growing. The main factor behind this growth is the increase in the number of employees who are using the personal IT technological devices on the workplace.
Market Segmentation
For the purpose of this study, this market has been segmented on the basis of application, end users and geography.
· Applications of IT service management include- configuration management, IT asset management, application performance management, network management and DBMS management.
· End user includes- Manufacturing, Healthcare/Medical/Pharmaceutical,Hospitality / Entertainment / Recreation / Travel, Telecom and IT, BFSI, Retail/Wholesale/Distribution among others.
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For this, the technology giants such as HP (U.S.), CA Technologies (U.S.), BMC Software (U.S.), Axios Systems (U.K), Microsoft Corp. (U.S.), are some of the major players who have been influencing IT service management market for years.
Among these, BMC software has been the dominant player in the IT service management market.At the same time, the dominant trend in the IT service management market has also mentioned the emergence of cloud computing, which has significantly influenced the way businesses are being operated.
The ever-increasing adoption of cloud solutions has simultaneously brought a drastic change in the operating models of the business.
Additional factors such as the mounting adoption of IT in several industry verticals are also aiding the market growth inevitably.Market SegmentationAs per the study, type, deployment, and end-user have segmented the global IT service management market.The type segment is classified among IT asset management, configuration management, network management, application performance management, and DBMS management.
The on-cloud records the highest market share as it assists various businesses by reducing the cost associated with the IT infrastructure.
The cloud deployment allows the enterprises to focus eminently on core business competencies with efficiently manage storage and data protection and security, privacy issues, which offers data integrity and information associated with governance to make enterprise legally prepared.Moreover, in terms of the end-user segment: Manufacturing, BFSI, media & entertainment, healthcare, IT & telecommunication, and retail are the segments.Regional FrameworkThe global IT service management market is studied for the key regions of Asia Pacific, North America, Europe, and the Rest of the World.The study observed that the North America region occupied the largest share of the market.
IT Service Management (ITSM) MarketThe sudden challenges created by the ongoing COVID-19 are captured effectively to exhibit the long term growth projections in the MRFR report on IT Service Management (ITSM) Market.
The growth sectors of the IT Service Management (ITSM) Market are identified with precision for a better growth perspective.The diversification of IT services is motivating the growth of the IT service management market globally.
A 12 % CAGR is anticipated to broaden the growth opportunities for the market.The elevated demand for IT asset management, among others, is expected to create a favorable growth trend in the IT service management market.
Furthermore, the surging popularity of cloud computing is expected to further boost the expansion of the market for IT service management in the upcoming years.Segmental AnalysisThe segmentation of the IT service management market is conducted on the basis of deployment, type, region, and end-user.
Based on the deployment, IT service management market is segmented into cloud-based and on-premise.
As per the study, it has been detected that the North American region is responsible for the prime segment of the IT service management market.
