Change and Configuration Management Market : Industry Forecast 2024-2033

Allied Market Research published a report, titled, "Change and Configuration Management Market : Industry Forecast 2024-2033".The report provides an extensive analysis of changing market dynamics, major segments, value chain, competitive scenario, and regional landscape. This research offers valuable able guidance to leading players, investors, shareholders, and startups in devising strategies for sustainable growth and gaining a competitive edge in the market.

The growth of the global change and configuration management industry is mainly driven by factors such increased network size and complexity due to an organization's global expansion and enhanced infrastructure stability and reliability which drive the growth of the market. In addition, cost reduction due to the automation of traditional configuration management is expected to drive the market over the forecast period.

● Prime determinants of growth

Factors such as increased network size and complexity due to the organization's global expansion and enhanced infrastructure stability and reliability drive the growth of the market. In addition, cost reduction due to the automation of traditional configuration management is expected to drive the market over the forecast period. The advent of networking technologies such as Network Function Virtualization (NFV) and Software-defined Network (SDN) has encouraged the adoption of these solutions which drives the growth of the market. However, the rising popularity of cloud-based solutions and the necessity for effective management of IT infrastructures is expected to impede market growth. On the contrary, the expanding awareness of the benefits of change and configuration management, including enhanced productivity and minimized downtime, will inspire organizations to overcome obstacles and embrace these solutions which is expected to provide lucrative opportunities for market growth.

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The change and configuration management market was valued at $1.6 billion in 2023, and is estimated to reach $3.8 billion by 2033, growing at a CAGR of 9.1% from 2024 to 2033.

The change and configuration management market is segmented on the basis of component, deployment mode, enterprise size, industry vertical, and region. On the basis of component, it is categorized into software, and services. By deployment mode, the market is classified into on-premise, and cloud. As per enterprise size, the market is categorized into large enterprise, and small and medium enterprises. By industry vertical, it is classified into BFSI, IT & telecom, healthcare & life science, education, retail and consumer packaged goods, and others. Region-wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

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● The services segment is expected to grow faster during the forecast period.

By component, the software segment held the highest market share in 2023 and is likely to retain its dominance during the forecast period. This is attributed to the increase in demand for IT environment in organizations. However, the services segment is projected to attain the highest growth from 2023 to 2033. This is attributed to the increasing demand for comprehensive software solutions that can effectively manage IT configurations, automate deployment processes, and enhance system reliability.

● The cloud segment is expected to grow faster during the forecast period.

By deployment mode, the on-premise segment held the highest market share in 2023 and is likely to retain its dominance during the forecast period. This is attributed to the higher customization and control over the infrastructure, making them appealing for organizations that require tailored software solutions to meet specific business needs. However, the cloud segment is projected to attain the highest growth from 2023 to 2033. This is attributed to the cost efficiency, scalability, ease of deployment, and increasing adoption of remote work models, as well as the growing need for real-time access to data from multiple locations.

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● The small and medium enterprises segment is expected to grow faster during the forecast period.

By Enterprise size, the large enterprise segment held the highest market share in 2023 and is likely to retain its dominance during the forecast period. This is due to the fact that large enterprises often have complex IT infrastructures and a greater need for change and configuration management solutions. However, the small and medium enterprises segment is projected to attain the highest growth from 2023 to 2033. As the SMEs grow and digital transformation becomes a higher priority, the demand for change and configuration management tools and services among these organizations is likely to increase.

● The IT and telecom segment is expected to grow faster during the forecast period.

By industry vertical, the BFSI segment held the highest market share in 2022 and is likely to retain its dominance during the forecast period. Due to increasing complexity of financial operations and the need for regulatory compliance, change and configuration management solutions help mitigate risks and ensure system integrity. However, the IT and telecom segment is expected to witness the highest growth during the forecast period, owing to rapid digital transformation and growth in the IT industry, telecom and IT companies are increasingly adopting change and configuration management solutions to ensure smooth and efficient operations.

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● Asia-Pacific to maintain its dominance by 2033.

Based on region, North America held the highest market share in terms of revenue in 2023 and is expected to dominate the market during the forecast period, owing to the increase in adoption of advanced change and configuration management solutions. Moreover, industries such as IT, healthcare, and manufacturing in North America have a high demand for efficient change and configuration management practices, further contributing to the growth of the market in this region. However, Asia-Pacific is expected to exhibit the highest growth during the forecast period, owing to increase in demand for effective change and configuration management solutions in this region to drive operational efficiency and ensure seamless business processes.

● Players

• IBM Corporation
• Microsoft Corporation
• BMC Software Inc.
• ServiceNow Inc.
• Atlassian Corporation Plc
• Micro Focus International plc
• Oracle Corporation
• Broadcom Inc
• Amazon Web Services Inc.
• Hewlett Packard Enterprise
• SAP SE

The report provides a detailed analysis of these key players in the global change and configuration management market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.

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Recent Industry Developments

● In January 2023, Configit Ace, the market's player in Configuration Lifecycle Management (CLM) technology, is now accessible as a cloud service, according to the company. The cloud-based Configuration Lifecycle Management (CLM) platform is vendor-agnostic and designed to interface with any IT system. Configit Ace Cloud allows a comprehensive, enterprise-wide configuration process for complex products, systems, and services that support design, development, production, sales, and support.

● In September 2022, Microsoft Endpoint Configuration Manager versions 2103-2207 received a security upgrade to fix a vulnerability. An attacker could take advantage of this flaw to access sensitive information. Users and administrators are encouraged to review Microsoft's Security Advisory for CVE-2022-37972 and apply the necessary updates, according to the Cybersecurity and Infrastructure Security Agency (CISA) .

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