The cloud-based itsm global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Cloud Based ITSM Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The cloud-based itsm market size has grown rapidly in recent years. It will grow from $8.19 billion in 2023 to $9.18 billion in 2024 at a compound annual growth rate (CAGR) of 12.1%. The growth in the historic period can be attributed to increased focus on user experience, digital transformation initiatives, cost efficiency and opex models, remote work environments, multi-cloud strategies..
The cloud-based itsm market size is expected to see rapid growth in the next few years. It will grow to $16.05 billion in 2028 at a compound annual growth rate (CAGR) of 15.0%. The growth in the forecast period can be attributed to evolving industry-specific requirements, focus on customer satisfaction and experience, global regulatory and governance considerations, continuous improvement and analytics focus, alignment with devops practices.. Major trends in the forecast period include digital transformation initiatives, remote work and hybrid work models, automation and ai integration, scalability and flexibility, cost efficiency and opex models..
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Scope Of Cloud Based ITSM Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Market Drivers –
The increase in adoption of cloud-based applications will propel the growth of the cloud-based ITSM market in the forecasted period. Cloud adoption is a business strategy aiming to improve internet-based database capabilities’ scalability while lowering costs and risks. Organizations use cloud computing, or remote computers hosted on the Internet, to store, manage, and process essential data. For instance, in November 2021, a 2021 Cloud Adoption Survey published on O’Reilly Media, a US-based learning company, showed that COVID-19 accelerated the cloud adoption application. According to the O’Reilly survey, cloud adoption is rapidly increasing across industries, with 90% of businesses using cloud computing. This is an increase from last year’s poll (2020), which found that 88% of respondents were using the cloud, demonstrating that cloud use is accelerating. Therefore, the adoption of cloud-based applications will drive the cloud-based ITSM market growth.
Market Trends –
Product innovations have emerged as the key trend gaining popularity in the 5G chipset market. The major players in the market are developing innovative products for market growth. For instance, in June 2021, Samsung Electronics, a South Korea-based electronics company, developed 3GPP Rel.16 compliant chipsets, a range of next-generation 5G chipsets that deliver cutting-edge 5G technologies. The new chipsets consist of a second-generation 5G modem System-on-Chip (SoC), a third-generation mmWave Radio Frequency Integrated Circuit (RFIC) chip, and a Digital Front End (DFE)-RFIC integrated chip. These are designed to increase power efficiency, boost performance, and reduce the size of 5G solutions.
The cloud-based itsm market covered in this report is segmented –
1) By Component: Solutions, Services
2) By Size: Small And Medium-Sized Enterprises (SMEs), Large Enterprises
3) By End User: Telecom And IT, BFSI, Manufacturing, Retail, Healthcare, Education
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Regional Insights –
North America was the largest region in the cloud-based ISTM market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the cloud-based itsm market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Key Companies –
Major companies operating in the cloud-based itsm market report are ServiceNow Inc., Hewlett Packard Enterprise Company, International Business Machines Corporation (IBM), BMC Software Inc., Broadcom Inc., Cherwell Software LLC, Ivanti Inc., Axios Systems plc, Citrix Systems Inc., Hornbill Systems Limited, Microsoft Corporation, EasyVista Inc., Micro Focus International plc, Atlassian Corporation Plc, Alemba Limited, SysAid Technologies Ltd., Freshworks Inc., SolarWinds Corporation, Zendesk Inc., Agiloft Inc., TOPdesk International B. V., HappyFox Inc., Zoho Corporation Pvt. Ltd., InvGate Inc., Google Cloud IT Service Management (ITSM), Salesforce Service Cloud, SAP IT Service Management (ITSM), Atlassian Jira Service Desk, Ivanti Service Manager, HCL Remedy OnDemand
Table of Contents
1. Executive Summary
2. Cloud Based ITSM Market Report Structure
3. Cloud Based ITSM Market Trends And Strategies
4. Cloud Based ITSM Market – Macro Economic Scenario
5. Cloud Based ITSM Market Size And Growth
…..
27. Cloud Based ITSM Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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