The IT Service Management (ITSM) Market is Predict to reach $24.5 Billion by 2030, at a CAGR of 13.3%

Special Offering :

Industry Insights | Market Trends | Highest number of Tables | 24/7 Analyst Support

IT Service Management (ITSM) Market Growth, Trends and Report Highlights

According to a new report, published by KBV research, The Global IT Service Management (ITSM) Market size is expected to reach $24.5 billion by 2030, rising at a market growth of 13.3% CAGR during the forecast period.

The Large Enterprises segment is generating the highest revenue in the Global IT Service Management (ITSM) Market by Organization Size in 2022; thereby, achieving a market value of $17.1 billion by 2030. Large enterprises rely on various enterprise systems, such as ERP, CRM, and HR. ITSM solutions with strong integration capabilities ensure seamless communication and data flow between IT and other business functions. Large enterprises often have defined service level agreements (SLAs) to meet. ITSM solutions enable effective service level management, ensuring that IT services consistently meet or exceed agreed-upon performance standards. Large enterprises require sophisticated reporting and analytics capabilities. ITSM solutions provide insights into IT performance, trends, and areas for improvement, supporting data-driven decision-making at the enterprise level.

The On-premise segment is registering a CAGR of 11.5% during (2023 - 2030). On-premise solution can offer high performance and low latency, especially for organizations with extensive in-house infrastructure. Real-time data processing and prompt response times are indispensable for certain applications. On-premise solution often have predictable, upfront costs. This financial predictability can be advantageous for organizations that prefer capital expenditure or those with budgetary constraints that require a one-time investment. On-premises solutions operate independently of internet connectivity. This benefits organizations in remote locations or those with intermittent internet access, ensuring uninterrupted access to critical ITSM functionalities.

The Solution segment is leading the Global IT Service Management (ITSM) Market by Offering in 2022; thereby, achieving a market value of $17.6 billion by 2030. Swift identification, logging, and resolution of incidents to minimize service disruptions. Automating and streamlining the handling of service requests from users. Improved efficiency in handling service requests contributes to a better user experience and frees up IT resources for more strategic initiatives. Planning, scheduling, and controlling changes to IT services. Proactive problem management helps prevent service disruptions, reducing user impact and improving overall IT service reliability.

The Government & Public Sector segment is experiencing a CAGR of 15.5% during (2023 - 2030). Governments globally are prioritizing digital transformation to modernize services and increase accessibility. ITSM supports these initiatives by providing frameworks for implementing digital platforms, e-government services, and citizen portals. ITSM enables governments to optimize service delivery by streamlining processes, automating routine tasks, and ensuring efficient incident and service request management. Consequently, this results in enhanced citizen satisfaction and expedited response times. Governments rely on robust IT infrastructure for various services. ITSM helps efficiently manage IT infrastructure, including servers, networks, and databases, ensuring reliability and security.

Full Report: https://www.kbvresearch.com/it-service-management-market/

The North America region dominated the Global IT Service Management (ITSM) Market by Region in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $8.7 billion by 2030. The Europe region is anticipating a CAGR of 12.9% during (2023 - 2030). Additionally, The Asia Pacific region would exhibit a CAGR of 14.2% during (2023 - 2030).

List of Key Companies Profiled

Microsoft Corporation
IBM Corporation
Open Text Corporation
ServiceNow, Inc.
BMC Software, Inc. (KKR & Co., Inc.)
Broadcom, Inc.
Hewlett Packard enterprise Company
Atlassian Corporation PLC
Zendesk, Inc.
Ivanti, Inc. (Clearlake Capital Group, L.P.)

IT Service Management (ITSM) Market Report Segmentation

By Organization Size

Large Enterprises
Small & Medium-sized Enterprise

By Deployment Type

Cloud
On-premise

By Offering

Solution
- Operations & Performance Management
- Configuration & Change Management
- Service Portfolio Management
- Service Desk Software
- Dashboarding, Reporting & Analytics
Services

By Vertical

By Geography

North America
- US
- Canada
- Mexico
- Rest of North America
Europe
- Germany
- UK
- France
- Russia
- Spain
- Italy
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- South Korea
- Singapore
- Malaysia
- Rest of Asia Pacific
LAMEA
- Brazil
- Argentina
- UAE
- Saudi Arabia
- South Africa
- Nigeria
- Rest of LAMEA

Related Reports:

SUBSCRIPTION MODEL