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Top Factor Driving IT Service Management (ITSM) Market Growth in 2025: The Role Of Increased Cloud Adoption In Driving IT Service Management Market Growth
IT Service Management (ITSM) Market
The market size for IT service management (ITSM) has seen a swift expansion in the past few years, with projections showing a surge from $12.43 billion in 2024 to $14.42 billion in 2025, marking a compound annual growth rate (CAGR) of 16.0%. Factors contributing to this surge during the historical period include improved overall service quality, heightened operational efficiency, an increasingly complicated IT infrastructure, a rise in the priority given to compliance and security within IT operations, and increased spending on supporting cloud ITSM solutions.
The market size for IT service management (ITSM) is projected to experience a swift expansion in the coming years, reaching a valuation of $25.83 billion by 2029, with a compound annual growth rate (CAGR) of 15.7%. This surge during the prognosis period is largely due to an increased uptake of modernized IT infrastructure in a range of industries, a rise in digital business redevelopment, growing necessity for a unified platform, greater demand for enhanced IT service distribution, and a burgeoning dependence on IT by contemporary enterprises. The forecast period is expected to see emergent trends like the integration of AI and automation, digital business strategies being adopted by corporations, technological adoption, a shift from on-premises to cloud-based solutions and services, and the use of ITSM software.
What Are the Primary Growth Drivers for the IT Service Management (ITSM) Market?
The surge in the use of cloud-based platforms is anticipated to drive the expansion of the IT service management market in the future. Often known as cloud platforms or cloud computing platforms, these online environments offer a plethora of computing services via the internet. Digital transformation, cost-effectiveness, security and compliance, integration and interoperability, and disaster recovery have all contributed to the rise in the uptake of cloud-based platforms. The principles and practices of ITSM are vital for effectively overseeing these platforms by matching IT services with business requirements, upholding service quality and availability, encouraging continuous enhancement, and fulfilling security and compliance demands. For example, the European Union reported in December 2023 that a Netherlands-based international organization saw a 4.2 percentage point increase in the proportion of European Union businesses buying cloud computing services in 2023 compared to 2021. Consequently, the growing acceptance of cloud-based platforms is fuelling the development of the IT service management market.
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Who Are the Dominant Companies Influencing IT Service Management (ITSM) Market Trends?
Major companies operating in the IT service management (ITSM) market are Microsoft Corporation, IBM Corporation, Broadcom Inc., Hewlett Packard Enterprise Co., ServiceNow Inc., Open Text Corporation, Atlassian Corporation Plc, Micro Focus International Plc, BMC Software Inc., Epicor Software Corporation, ManageEngine, SolarWinds Worldwide LLC, Ivanti Inc., Freshworks Inc., ASG Technologies Group Inc., TOPdesk Nederland B.V., EasyVista Inc., Matrix42 AG, Spiceworks Ziff Davis Inc., Axios Systems Plc, SysAid Technologies Ltd., SunView Software Inc., InvGate Inc., Cherwell Software LLC, CA Technologies Inc.
How Is the IT Service Management (ITSM) Market Evolving?
Primarily, IT service management (ITSM) market's leading companies are prioritising the creation of advanced solutions, like AI-driven IT service management, for amplifying productivity and enriching user experiences. It revolutionizes traditional practices, empowering businesses to offer quicker, more proactive, and personalized IT services. This simultaneously fosters operational superiority and financial economy. For instance, August 2023 witnessed the launch of ServiceFlex, a new IT service management solution by Spark, an advanced solution provider based in the US. By blending innovative technology, automation, and artificial intelligence, this solution aids corporations, enterprises, and governmental organizations in achieving their professional targets. It leverages smart automation to streamline IT operations and prevent business disturbances, including automating digital certificate renewals.
What Are the Different Segmentations in the IT Service Management (ITSM) Market?
The IT service management (ITSM) market covered in this report is segmented -
1) By Component: Solution, Services
2) By Technology: Performance Management, Configuration Management, Network Management, Database Management System, Other Technologies
3) By Deployment: Cloud, On-Premise
4) By Enterprise Size: Small And Medium Enterprises, Large Enterprises
5) By End-User: Banking, Financial Services, And Insurance (BFSI), Manufacturing, Government And Education, Information Technology And Telecommunication, Retail, Travel And Hospitality, Healthcare, Other End-Users
Subsegments:
By Solution: ITSM Software, ITSM Platforms, ITSM Tools
By Services: Consulting, Implementation, Training And Support, Managed Services
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Which Region Is at the Forefront of the IT Service Management (ITSM) Market?
North America was the largest region in the it service management (ITSM) market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the IT service management (ITSM) market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Is Covered In The IT Service Management (ITSM) Global Market Report?
- Market Size Analysis: Analyze the IT Service Management (ITSM) Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the IT Service Management (ITSM) Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall IT Service Management (ITSM) Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the IT Service Management (ITSM) Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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