Global IT Service Management Tools Market is Likely to Reach US$ 5 Billion by 2025 - MRRSE

A new comprehensive report based on IT service management tools titled “Global Market Study on IT Service Management Tools: Government Segment by Industry to Grow at the Fastest Pace During 2017 – 2025” has recently been added to the database of Market Research Reports Search Engine (MRRSE). According to the report, a value of US$ 5 Bn is expected to be generated by the global IT service management tools market by the end of 2025. The report further estimates that the global IT service management tools market is projected to exhibit a 9.3% CAGR during the assessment period 2017 – 2025.

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This report is comprehensive piece of analysis and insights on the global IT service management tools market. The report begins with a qualitative analysis, which offers readers key insights on the drivers, restraints, opportunities and trends impacting the market. According to the report, focus on maintaining seamless IT workflow is one of the key factors that is driving the market. Further, growing penetration of IT in various aspects of business has also necessitated the adoption of IT service management tools. However, slowdown in the IT sector and reduction in total budgets can act as a restraint for the market. The key opportunities for vendors lie in providing customized and affordable IT service management tools. Many economies globally are making the transition to digital governance, which is likely to create opportunities.

A detailed segmentation has been offered in the report to give readers a true picture of the fastest growing and sluggish growing segments in the market. The report segments the global market on the basis of type, deployment category and region. By type, the configuration management is expected to reach US$1,4 Bn in revenues by the end of forecast period. By deployment category, the cloud deployment segment is expected to grow at a high CAGR. However, the on-premise segment will continue to be the leading one in terms of revenue.

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North America continues to be the largest market for IT service management tools globally. The market in North America is projected to reach US$2 Bn by the end of forecast period. On the other hand, Asia Pacific is likely to show high potential during the forecast period.

The report has profiled some of the key players operating in the global IT service management tools market and companies profiled are in terms of company overview, company financials, company details and description (HQ, foundation year, revenue and employee strength), business overview, recent developments and strategic overview. Some of the major companies profiled are ServiceNow, Inc., IBM, Atlassian, BMC Software, Inc., CA Technologies, Ivanti Software, ASG Software, SAP, Axios Systems and Cherwell Software.

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