Press release
Key Trend Reshaping the IT Service Management (ITSM) Market in 2025: Advancing IT Service Management Harnessing Smart Technology And AI For Enhanced Efficiency And User Experience
IT Service Management (ITSM)
The adoption of cloud-based platforms is expected to drive growth in the IT service management market. Cloud platforms offer scalable computing services and are becoming more popular due to digital transformation and cost savings. IT service management (ITSM) plays an essential role in managing cloud-based platforms by aligning IT services with business needs. In December 2023, the EU reported a 4.2% increase in the adoption of cloud services compared to 2021. Therefore, the growing adoption of cloud platforms is fueling the growth of the IT service management market.
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What growth opportunities are expected to drive the it service management (itsm) market's CAGR through 2034?
The IT service management (ITSM) market will rise from $12.43 billion in 2024 to $14.42 billion in 2025 at a CAGR of 16.0%, supported by the growing need for operational efficiency, compliance, and cloud-based ITSM solutions.
The IT service management (ITSM) market is set to rise to $25.83 billion by 2029, growing at a CAGR of 15.7%. Expansion is driven by increasing digital transformation across industries, demand for improved IT service delivery, and the shift to cloud-based ITSM platforms. Emerging trends include AI automation, DevOps implementation, cloud migration, and the adoption of digital business strategies.
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What are the emerging trends shaping the future of the it service management (itsm) market?
Companies in the IT service management (ITSM) market are focusing on AI-based IT service management to improve efficiency and user experience. AI-based ITSM streamlines IT operations, making services faster and more personalized. For instance, in August 2023, Spark, a US-based technology company, launched ServiceFlex, an AI-powered IT service management solution. This platform automates digital certificate renewals and helps corporations, enterprises, and government organizations prevent business disruptions through intelligent automation.
Which growth-oriented segments of the it service management (itsm) market are leading the industry's development?
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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What regions are leading the charge in 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 companies are at the forefront of innovation in the it service management (itsm) market?
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.
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What Is Covered In The IT Service Management (ITSM) Global Market Report?
•Market Size Forecast: Examine the it service management (itsm) market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the it service management (itsm) market for a structured understanding.
•Key Players Overview: Analyze major players in the it service management (itsm) market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the it service management (itsm) market.
•Segment Contributions: Evaluate how different segments drive overall growth in the it service management (itsm) market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the it service management (itsm) market.
•Industry Challenges: Identify potential risks and obstacles affecting the it service management (itsm) market.
•Competitive Landscape: Review strategic developments in the it service management (itsm) market, including expansions, agreements, and new product launches.
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