Global IT Operations and Service Management (ITOSM) Market Report Examines Latest Trends and Key Drivers Supporting Growth through 2024

Market Research Reports Search Engine (MRRSE) has recently updated its massive research catalog by adding a new study, titled “IT Operations and Service Management (ITOSM) Market”. The study offers a clear insight about the prevailing trends and innovations happening in the IT Operations and Service Management (ITOSM) Market. Readers can further access details about research highlights and executive summary to gain a better idea about this assessment. The market overview covers key industry developments and market opportunity map during the mentioned forecast period. In addition, a holistic view of the entire global market scenario across all the prime regional segments, such as (Regions) has been delivered.

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As organizations become decidedly clearer about investing in more agile IT infrastructure, players in the IT operations and services management (ITOSM) market are compelled to be highly responsive to this change, a new report by MRRSE finds. To this end, the change in the ITOSM competitive landscape is already evident.

The future of IT operations and service management will increasingly be defined by the sharp focus on an unmatched end-user experience and customer satisfaction – the two proven ways of ensuring that key accounts stay with the service provider.

MRRSE observes that while tier 1 companies such as BMC Software Inc. are seeking out new avenues to strategically expand their end customer solutions portfolio, others such as HP Inc. are betting on performance management, cloud computing, and analytics to gain a competitive edge. The wider geographical presence of large companies and their presence in ancillary verticals such as cloud management is enabling them to move full steam ahead in the ITOSM space.

“The game plan for tier 2 companies, however, will be slightly different considering they do not enjoy the same regional presence as their larger contemporaries. The next few years will see more tier 2 companies venturing into partnerships and M&As to gain more ground in the ITOSM market,” says a MRRSE analyst. Tier 2 companies are expected to earmark more funds in expansion activities to compete more fiercely in the coming years. In terms of product portfolio, it is the tier 1 companies that boast wider offerings because of their key clients being small and medium enterprises scattered across various industries.

According to MRRSE, public cloud adoption will steer the growth of the IT operations and service management market. The Cisco Global Cloud Index 2014, for instance, reveals that public cloud workloads will rise at a 44% CAGR between 2014 and 2019. In comparison, the workload increase in private cloud workload will be 16% in the same period. As more data shifts to the mobile and handheld devices such as tablets and smartphones, cloud storage solutions will be in high demand. As the cost of on-premise ITOSM spirals, more companies will shift toward cloud-based ITOSM in a bid to reduce OPEX and CAPEX.

The integration of IT operations and service management solutions is the greatest challenge that players are currently struggling to address. The sheer effort required in coordinating between the myriad phases and interrelated processes in IT operations and service management is making seamless deployment challenging, MRRSE finds. The integration of services being sourced from multiple suppliers is also often a challenge. The disparate cloud deployment models and services further make for very complex service level agreements (SLAs). In this context, the success of the ITOSM solution primarily depends on how clearly the service provider is able to define the finer nuances in the SLA.

According to MRRSE, IT operations management (ITOM) was largest segment (by type) in the global ITOSM market in 2015 and will continue to retain its leading position until 2024. However, with a CAGR of 7.5% between 2016 and 2024, the IT service management (ITSM) segment is expected to fare better than the others through the forecasting horizon. The manufacturing sector and IT and telecom industry will generate appreciable demand for ITOSM through the report’s forecast period, says MRRSE.

The report segments the global ITOSM market of by type into ITSM and ITOM, and subdivides the ITOM type into configuration, automation and discovery, event management, cloud provisioning, and workload and IT automation. Furthermore, it has been classified under industry verticals into the banking, financial services, and insurance (BFSI), telecom and IT, education, aerospace, government, and energy & utilities industry verticals. Further, the reports explains which industry segment/sector is helping the expansion of ITSOM market and which is fastest growing sector likely to drive the market in a long run. Thus, the report provides in-depth cross-segment analysis of the ITOSM market and with categorization in various levels, thereby providing valuable insights at macro as well as micro levels.

Considering the highly competitive nature of market due to emergence of cloud phenomenon, the report provides a brief overview of the major players operating in the ITOSM market. The report also gives an outline of different strategies implemented by key players in the ITOSM market. Company strategy is formulated after thorough analysis of the company’s collected data which includes data related to mergers and acquisitions, partnership agreements, product launches, and forthcoming activities which a company is likely to undertake.

Furthermore, the report also analyzes the share of major companies operating in the ITOSM market. IBM Corporation, Oracle Corp., HP Inc., BMC Software Inc., ServiceNow Inc., LANDESK Software, Cherwell Software, Compuware Corporation, CA Technology, Inc., and ASG Software Solutions, are some of the major service providers within the global ITOSM market, profiled in this study. These company profiles provides insights about the company, further it also highlights the competitive scene of the ITOSM market, the positioning of the key players is based on their financial data, product portfolio, recent developments and their geographical presence.

Complete Report Details with List of Tables and Figures @ https://www.mrrse.com/it-operations-service-management-market

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IT Operations and Services Management (ITOSM) Market

By Type

ITSM
ITOM

By ITOM Type

Configuration, Automation and Discovery
Event Management
Cloud Provisioning
Workload and IT Automation

By End Use

BFSI
Telecom and IT
Government
Healthcare/Medical/Pharmaceutical
Aerospace/Defense
Retail/Wholesale/Distribution
Manufacturing
Education
Hospitality/Entertainment/Recreation/Travel
Energy and Utilities
Others

By Geography

North America
Europe
APAC
Middle East and Africa
Latin America

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This release was published on openPR.