Cloud IT Service Management (ITSM) - Global Market Outlook (2019-2027)
According to Stratistics MRC, the Global Cloud IT Service Management (ITSM) Market is accounted for $4.40 billion in 2019 and is expected to reach $19.69 billion by 2027 growing at a CAGR of 20.6% during the forecast period. Some of the key factors propelling the market growth are increasing adoption of cloud solutions and incorporation of AI-based devices with ITSM solutions. However, the lack of standard procedures is the restraining factor for the growth of the market.
Cloud IT service management (ITSM) is a set of policies and practices for implementing, delivering, and managing IT services for end-users in such a way that it meets the stated needs of the users and the stated goals of the business.
By end-user, the IT & IT-enabled services (ITES) segment is expected to grow at a significant market share during the forecast period owing to the policies adopted by this sector to reduce their operating costs. Based on geography, North America is anticipated to hold considerable market share during the forecast period due to the rising adoption of cloud services in the region.
Some of the key players in Cloud IT Service Management (ITSM) Market include IBM, ServiceNow, Microsoft, Freshworks, Citrix Systems, Cherwell Software, Micro Focus, ManageEngine, Axios Systems, Alemba, HPE, EasyVista, BMC Software, Ivanti, LogMein, CA Technologies, Hornbill, Atlassian, Efecte, and SysAid.
Organization Sizes Covered:
• Large Enterprises
• Small and Medium-sized Enterprises
• Database Management System
• Network Management
End Users Covered:
• Government and Public Sector
• Retail and Consumer Goods
• Banking, Financial Services, and Insurance (BFSI)
• Travel and Hospitality
• IT & IT Enabled Services (ITES)
• Media and Entertainment
• Healthcare and Life Sciences
• Other End Users
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
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- Covers Market data for the years 2018, 2019, 2020, 2024 and 2027
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic analysis: Drivers and Constraints, Product/Technology Analysis, Porter’s five forces analysis, SWOT analysis, etc.
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- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
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