ITSM Market: 17.86% Y-O-Y Growth Rate in 2021 | By Application and Geography | Global Opportunity Analysis and Industry Forecast, 2021-2025

The ITSM Market Share is expected to increase by USD 11.51 billion from 2020 to 2025, with an accelerated CAGR of 19.08%- according to the recent market study by Technavio.

• One of the key factors driving the ITSM market is the effective enterprise IT service incident and problem management. 
• The advent of advanced technologies is another factor supporting the ITSM market growth in the forecast period. 
• Accessibility to quality data will be a major challenge for the ITSM market during the forecast period.
• North America will register the highest growth rate of 43% among the other regions. Therefore, the ITSM market in North America is expected to garner significant business opportunities for the vendors during the forecast period.
• In 2021, with the easing of lockdowns and the adoption of effective vaccination measures, companies are trying to recover their business. Hence, companies have announced plans to increase productivity by investing in automation technologies such as IoT and AI, which will accelerate the effects of technology megatrends and investments in software, including ITSM.
•  As companies gradually recover from the crisis by the beginning of 2021, they are expected to increase their investments and adopt various business strategies for technologies and software. 
• The ITSM market vendors should focus on grabbing business opportunities from the IT and telecom segment as it accounted for the largest market share in the base year.

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Scope of the Report

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Configuration Management (CM) Held the Largest Market Share

• The ITSM market share growth by the configuration management (CM) segment during the forecast period. 
• CM is the basis of ITSM solutions as it holds all the vital data related to the IT services of enterprises.
• The growth of the configuration management segment is driven by the increasing need for unified and accurate technical and relational data on configuration items (CIs) to monitor the IT infrastructure and deliver IT services by ensuring integrity, stability, and continuous service operation to improve customer centricity and profitability. 

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North America is Expected to Hold a Significant Share of the Market

• 43% of the market's growth will originate from North America during the forecast period. The US is a key market for ITSM in North America.
• Market growth in this region will be faster than the growth of the market in MEA and South America.
• The increasing adoption of cloud-based ITSM solutions by government organizations will facilitate the ITSM market growth in North America over the forecast period. 

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Vendor Insights-

The report analyzes the market's competitive landscape and offers information on several market vendors, including:

• BMC Software Inc.
• Broadcom Inc.
• Fujitsu Ltd.
• Hewlett Packard Enterprise Co.
• International Business Machines Corp.
• Ivanti Inc.
• Microsoft Corp.
• Oracle Corp.
• SAP SE
• ServiceNow Inc.

The ITSM market is fragmented and the vendors are deploying growth strategies such as the acquisition of smaller and regional players for expansion to compete in the market.

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Recent Developments

• BMC Software Inc.- The company offers IT service management for software and tools for modern enterprises.
• Fujitsu Ltd.- The company offers ServiceNow which drives seamless experience, automates response, drives insights, and delivers.
• Hewlett Packard Enterprise Co.- The company offers IT Service Management Course for students as well as employees.

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Here are Some Similar Topics-

Global Cloud-based ITSM Market: This market research report includes a detailed segmentation of the global ITSM market by deployment type (on-premise, hybrid, and cloud). It outlines market shares for key regions such as the Americas, APAC, and EMEA. To get more exclusive research insights: Download Sample Report

Green Technology and Sustainability Market by Product and Geography - Forecast and Analysis 2022-2026: The green technology and sustainability market share is expected to reach an estimated USD 26.10 billion by 2026 at an accelerating CAGR of 23.8%. To get more exclusive research insights: Download Sample Report

Table of Contents

Executive Summary

Market Landscape

• Market ecosystem
• Value chain analysis

Market Sizing

• Market definition
• Market segment analysis
• Market size 2020
• Market outlook: Forecast for 2020 - 2025

Five Forces Analysis

• Bargaining power of buyers
• Bargaining power of suppliers
• Threat of new entrants
• Threat of substitutes
• Threat of rivalry
• Market condition

Market Segmentation by Application

• Market segments
• Comparison by Application
• CM - Market size and forecast 2020-2025
• ITAM and ITSD - Market size and forecast 2020-2025
• A and PM - Market size and forecast 2020-2025
• NM - Market size and forecast 2020-2025
• Others - Market size and forecast 2020-2025
• Market opportunity by Application

Customer landscape

• Customer landscape

Geographic Landscape

• Geographic segmentation
• Geographic comparison
• North America - Market size and forecast 2020-2025
• Europe - Market size and forecast 2020-2025
• APAC - Market size and forecast 2020-2025
• South America - Market size and forecast 2020-2025
• MEA - Market size and forecast 2020-2025
• Key leading countries
• Market opportunity by geography
• Market drivers
• Market challenges
• Market trends

Vendor Landscape

• Overview
• Landscape disruption

Vendor Analysis

• Vendors covered
• Market positioning of vendors
• BMC Software Inc.
• Broadcom Inc.
• Fujitsu Ltd.
• Hewlett Packard Enterprise Co.
• International Business Machines Corp.
• Ivanti Inc.
• Microsoft Corp.
• Oracle Corp.
• SAP SE
• ServiceNow Inc.

Appendix

• Scope of the report
• Currency conversion rates for US$
• Research methodology
• List of abbreviations

 About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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SOURCE Technavio