Press release
The Role Of Increased Cloud Adoption In Driving IT Service Management Market Growth: Strategic Insights Driving IT Service Management (ITSM) Market Momentum in 2025
IT Service Management (ITSM)
How Large Will the IT Service Management (ITSM) Market Size By 2025?
The market size for Information Technology Service Management (ITSM) has seen fast-paced growth in the past few years. An expansion from $12.43 billion in 2024 to $14.42 billion in 2025 is projected, indicating a compound annual growth rate (CAGR) of 16.0%. A number of factors have prompted this growth during the historical period, including enhanced service quality, higher operational efficiency, growing complexity of IT infrastructure, and an emphasis on compliance and security in IT operations, as well as an increased spending on cloud ITSM solutions.
How Big Is the IT Service Management (ITSM) Market Size Expected to Grow by 2029?
The forecast for the IT Service Management (ITSM) market size predicts swift expansion in the forthcoming years. It's projected that by 2029, the market will blow up to $25.83 billion, with a compound annual growth rate (CAGR) of 15.7%. The factors contributing to this expected growth during the forecast period are numerous and include a surge in the acceptance of recent IT infrastructure throughout various industries, a rise in digital business transformations, a soaring demand for a unified platform, an uptick in the need for enhanced IT service delivery, and an increasing dependence of contemporary businesses on IT. Also, significant trends observed during the forecast period consist of the integration of AI and automation technology, corporate adoption of digital business tactics, adoption of technological advances, a shift from on-location to cloud-based solutions and services, and the acceptance of ITSM software.
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Which Key Market Drivers Powering IT Service Management (ITSM) Market Expansion and Growth?
The surge in the use of cloud-based platforms is projected to drive the IT service management market's progress in the future. These platforms, also known as cloud platforms or cloud computing platforms, offer various computing services online. Digital transformation, cost benefits, security and compliance, integration and interoperability, and disaster recovery are the reasons behind their widespread adoption. The correct implementation of ITSM principles and practices is essential for efficient management of these platforms. They help in aligning IT services to business requirements, ensuring service quality, promoting ongoing improvement, and meeting security and compliance norms. For instance, the European Union reported in December 2023 that a Netherlands-based international entity observed a 4.2 percentage point increase in the percentage of European Union businesses purchasing cloud computing services in 2023 compared to 2021. Thus, the rising uptake of cloud-based platforms fuels the growth of the IT service management market.
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Which Fast-Growing Trends Are Poised to Disrupt the IT Service Management (ITSM) Market?
Leading corporations in the IT service management (ITSM) field are striving to build innovative solutions, for instance, AI-driven IT service management, to ramp up effectiveness and augment the user experience. This AI-based solution modifies the conventional methods, assisting corporations in offering quick, proactive, and tailored IT services, thereby leading to operational efficiency and reduced costs. An example in this regard occurred in August 2023, when American tech-solution company Spark introduced ServiceFlex, an innovative IT service management solution. This modern technology uses SMART technology, AI, and automation to support businesses, enterprise, and government agencies in achieving their objectives. With intelligent automation, this solution enhances IT processes, preventing business interruptions, such as those caused by digital certificate renewals needing automation.
What Are the Emerging Segments 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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Who Are the Global Leaders 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.
Which are the Top Profitable Regional Markets for the IT Service Management (ITSM) Industry?
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.
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