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IT Operations and Service Management (ITOSM) Market: Digital Service Management is a Trend Worth Taking Note Of

11-07-2016 12:09 PM CET | IT, New Media & Software

Press release from: TMR

IT Operations and Service Management (ITOSM) Market: Digital

Digitization is making inroads into virtually every industry vertical leading multibillion-dollar opportunities to spring up for companies in the IT enterprise solutions and services business. The value of virtually each solution is being measured based on how agile, scalable, and responsive it is – especially in the context of cloud-based systems. Against this backdrop, investment sentiment relating to IT operations and service management is expected to remain positive.

This has resulted in a greater assortment of services being offered by companies competing for a larger share of the pie in the ITOSM market. A case in point would be BMC Software’s announcement in February 2016 that it would be adding digital service management services and solutions to its existing mix of ITOSM offerings. Companies are also exploring takeovers and mergers to acquire digital service management (DSM) capabilities. Cisco Systems, Inc., for instance, has adopted this strategy by announcing an interest in DSM provider, DiviTech A/S.

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IT Service Management to Attract More Investments in the Coming Years

According to TMR, 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 TMR.

The global ITOSM market was valued at US$17.40 bn in 2015 and it is expected to expand at a CAGR of 6.5% from 2016 to 2024 to reach US$30.96 bn in 2024.

Top players in the market are: IBM Corporation, Oracle Corp., Microsoft Corporation, BMC Software Inc., HP Inc., ServiceNow Inc., VMware Inc., Compuware Corporation, and CA Technology, Inc.

Public Cloud Adoption will be a Pivotal Trend for Growth

According to TMR, 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.

View Report: http://www.transparencymarketresearch.com/it-operations-service-management-market.html

Complexities in SLAs Stemming from Integration Issues Could Suppress Growth

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, TMR 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.

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Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants, use proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.

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