IT Service Management Research Report– by Type (Configuration Management, IT Asset Management, DBMS Management), Deployment (Cloud, On-Premise), End User (IT & Telecommunication, Healthcare, Media & Entertainment, Retail, BFSI) – Global Forecast till 2023
Market Scenario:
IT service management is a process based practice which is designed to deliver the information technology services to enterprises and within the need of customers. The main factor behind this growth is the increasing number of employees who are using personal IT technological devices at workplace
Technology giants such as BMC Software (U.S.), HP (U.S.), CA Technologies (U.S.), IBM Corporation (U.S.), Absolute Software (Canada), Microsoft Corp. (U.S.), Axios Systems (U.K) are some of the major players in the IT service management market. BMC software a major player in IT service management market. Enhance enterprises IT operation by enabling service desk to be 75% more productive with less manual work. It ensures essential task coverage including incident and problem management, change and release management, knowledge management, asset management, and mobile self-service. It uses social and collaboration tools to provide context-aware insights to help IT work smarter. CA Technologies, a prominent player in IT service management market, provide users with a way to prioritize work with the context to make decisions, while helping business users to compete with a simple way to connect with IT.
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Major trend in IT service management market is the emergence of cloud computing that has significantly impacted the way businesses are operated. The increasing adoption of cloud solutions has brought change in the operating models of an enterprise. Additional factors such as the increasing adoption of IT services in several industry verticals is aiding the market growth.
The global IT service management market has been segmented on the basis of type, deployment and end user. The type segment is further classified into configuration management, IT asset management, application performance management, network management and DBMS management. However, configuration management segment is expected to account for highest market share. By deployment, the market is segmented into cloud based and on-premise. The on-cloud accounts for highest market share as it helps enterprises by reduce cost associated with the IT infrastructure. The cloud deployment enable enterprise to focus on core business competencies. It provides enterprises with data protection and security, efficiently manage storage and privacy issues, offers data integrity and provides information related to governance and make enterprise legally prepared.
The global IT Service Management Market is expected to grow at a CAGR of approximately 12% during the forecast period 2017-2023.
Key Players
Some prominent IT Service Management Market players that have been analyzed in the report include Axios Systems, Cherwell Software, BMC Software, HP, CA Technologies, IBM Corporation, Microsoft Corp., Absolute Software, Citrix Systems, Landesk Software, Compuware, EMC Corporation, Manage Engine, Service Now Inc., and others.
Market Segmentation
Evaluation of the segments reveals market trends and allows for accurate identification of leading components of the market and provides indications of various factors that affect growth. The global IT service management market has been segmented on the basis of type, deployment, end-user, and region.
By type, the market has been segmented into configuration management, IT asset management, application performance management, network management, and DBMS management. The configuration management segment is expected to dominate with the largest market share.
By deployment, the market has been divided between cloud-based, and on-premise. Cloud-based deployment has gained significant traction in popularity and is predicted to be the largest segment during the forecast period.
By end-user, the market has been segmented into manufacturing, healthcare, media & entertainment, IT & telecommunication, BFSI, retail, and others.
By region, the market has been segmented into North America, Europe, the Asia-Pacific, and the Rest of the World.
Regional Analysis
North America has the market lead in the global IT service management market due to a presence of market leaders who offer affordable and efficient ITSM solutions that are up to date with the latest technology.
Europe closely follows North America's lead and is predicted to follow the latter's growth pattern during the forecast period.
Meanwhile, the Asia Pacific is expected to have the fastest growing and highest CAGR during the forecast period due to the widespread availability of opportunity that has not yet been realized. Countries such as India, Japan, South Korea and China have many market leaders investing in the region. Additionally, India has emerged as an IT hub in the past few years, thus propelling growth.
Latest Industry News
Infosys has just released enhancements to its AI-powered plug & play solution - Infosys Enterprise Service Management Cafe. The upgrades provide more than 40 solutions that are ready for deployment in IT service management. ServiceNow now comes with preconfigured process templates and provide a streamlined, smart and intuitive user experience.
IFS is close to a full launch of major updates after recently previewing the same at the IFS World Conference in Atlanta. The new IT service management platform includes brand new user experience, high performance of IFS planning & scheduling optimization (PSO), high congifurability, pay and deploy with flexibility and other functional enhancements.
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Intended Audience
- Technology Investors
- Research/Consultancy firms
- Technology Solution Providers
- Government Bodies
- IT Service Providers
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