ITSM Market Analysis 2022 to 2030, Future Trends and Industry Forecast | CAGR 7.5%

The Global ITSM Market was valued US$ 2829.35 Mn in 2022, at a 7.50% CAGR of around during a forecast period.

ITSM Market Overview:

Global ITSM Market 2022-2030, report discovers comprehensive insights on key manufacturers with share information, market size and projection, key dynamics, growth factors, and new company profiles. The report provides detailed information about the market overview, prevalent trends, demand, and recent developments impacting the market growth in the coming years. ITSM Market opportunities analysis, strategic growth analysis, product launches, marketplace expanding, and technological innovations are also highlighted. The report uncovers ITSM market size, potential growth, trends and expansion strategies followed by top prominent players.

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Information Technology Service Management (ITSM) defines all IT-related activities, including the creation, delivery, support and management of custom solutions executed to achieve the IT organization's business objectives.

As an end-to-end service, ITSM is not limited to designing and delivering appropriate IT systems, applications or resources. It mainly focuses on adopting a specific process approach for a company or project. ITSM's end goal is always set individually for the unique needs and values of our clients. ITSM also clearly defines the roles and responsibilities of people involved in projects, partners, and third-party providers of services, products, and new technologies.

IT organizations tend to focus more on managing IT services and applications for short-term and long-term strategic goals. ITSM helps achieve short- and long-term strategic goals by providing many benefits that significantly impact an organization's overall performance, such as reducing costs, automating repetitive tasks, and bringing data together in one place. Hence, as per the evolving IT industry dynamics, the ITSM market is expected to witness significant growth during the forecast period.

Some of the key players profiled in the study are
Datto Holdings Corp., EasyVista SA, Hewlett Packard Enterprise Co., Hornbill Corporate Ltd., IFS World Operations AB, International Business Machines Corp., Ivanti Software Inc., Micro Focus International Plc, Microsoft Corp., Oracle Corp., SAP SE, ServiceNow Inc., SolarWinds Corp., Tata Consultancy Services Ltd., LogMeln Inc, and Others.

ITSM Market Segmentation:

By Type:
• Service portfolio management
• Configuration and change management
• Service desk software
• Operations and performance management
• Dashboard
• Other

By Applications:
• IT & Telecommunication
• Healthcare
• Media & Entertainment
• Retail
• BFSI
• Other

By Component:
• Solutions
• Services
• Other

Latest Industry Developments:

• In January 2020, Incentive Technology Group (ITG) was acquired by ICF International Inc. for US$255 million for expertise in IT consulting, ITSM and cloud services in the US.
• In April 2019, GrowthOps acquired ServiceNow partner Entrago to expand its IT service management (ITSM) market in Australia and Asia Pacific.

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecasts (2022-2030) of the following regions are covered:
• North America (U.S., Canada)
• Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
• Asia-Pacific (China, India, Japan, Australia, Southeast Asia, Rest of Asia Pacific)
• South America (Mexico, Brazil, Argentina, Columbia, Rest of South America)
• Middle East & Africa (GCC, Egypt, Nigeria, South Africa, Rest of Middle East and Africa)

In 2021, North America dominated the market with over 43.8% market share, followed by Europe and Asia Pacific. Growth in this region can be attributed to increased digitization in various industries such as banking, financial services and insurance (BFSI), healthcare, media and entertainment, and retail, which drive IT service management for enterprises. North America is expected to hold the largest market share in 2021. These regions serve Government & Telecommunications, Healthcare & Life Sciences, Retail & Consumer Goods, and Media & Entertainment. North America also has the highest number of players. In 2021, Latin America is projected to account for approximately 25% of the total IT service management market and will remain the largest revenue contributor throughout the forecast period. This growth can be attributed to the increasing adoption of public cloud services by various companies in the healthcare sector, increasing the need to manage complex infrastructure environments along with associated risks.

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Table of Content of ITSM Market:
1. Executive Summary
2. Research Methodology
3. Market Outlook
4. Covid-19 Impact On ITSM Market
5. ITSM Market Overview, By Segmentation, 2017 - 2030 (USD Million)
6. ITSM Market Overview, By Geography, 2017 - 2030 (USD Million)
7. North America ITSM Market Overview, By Countries, 2017 - 2030 (USD Million)
8. Europe ITSM Market Overview, By Countries, 2017 - 2030 (USD Million)
9. Asia Pacific ITSM Market Overview, By Countries, 2017 - 2030 (USD Million)
10. Middle East & Africa ITSM Market Overview, By Countries, 2017 - 2030 (USD Million)
11. South America ITSM Market Overview, By Countries, 2017 - 2030 (USD Million)
12. Competitive Landscape
13. Key Vendor Analysis
14. ITSM Market Cost Analysis
15. Industrial Chain, Sourcing Strategy and Downstream Buyers
16. Marketing Strategy Analysis, Distributors/Traders
17. Market Effect Factors Analysis
18. Future Outlook of the Market

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Why You Should Buy This Report on the Global ITSM Market:

1. The forecast for the established and growing markets for global ITSM
2. Use Porter's Five Forces analysis to analyze various market perspectives.
3. The market segment that is anticipated to dominate the ITSM industry worldwide.
4. Geographical areas that are anticipated to experience the quickest growth over the projection period.
5. Identify the most recent innovations, market shares for global ITSM and marketing techniques used by the leading industry competitors.

Related Source:
• https://www.digitaljournal.com/pr/global-itsm-market-is-expected-to-grow-at-a-cagr-of-7-50-during-forecast-period

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