Market Size –
The configuration management market size has grown rapidly in recent years. It will grow from $2.73 billion in 2023 to $3.19 billion in 2024 at a compound annual growth rate (CAGR) of 16.7%. The growth in the historic period can be attributed to rise in configuration management adoption due to its ability to define and enforce formal policies, rise in management popularity for providing stability, control, and enhanced efficiencies, growing digitization, demand for real-time monitoring and analytics, demand for hybrid and multi-cloud management.
The configuration management market size is expected to see rapid growth in the next few years. It will grow to $5.95 billion in 2028 at a compound annual growth rate (CAGR) of 16.9%. The growth in the forecast period can be attributed to rising need for automated management, increased demand for simplifying and synchronizing IT resources, increase the acceptance of configuration management solutions, digital transformation initiatives, focus on service reliability and availability. Major trends in the forecast period include adoption of configuration system within software, emergence of digital technologies, integration of electrical, mechanical, firmware, and software components, surge in demand for automated IT resource management, adoption of LaC tools.
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Scope Of Configuration Management 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.
Configuration Management Market Overview
Market Drivers –
The rising demand for cloud-based solutions is expected to propel the growth of the configuration management market going forward. Cloud-based solutions refer to software, services, or resources that are delivered, hosted, and accessed over the internet instead of on local hardware or servers. The rising demand for cloud services is due to its scalability, cost-effectiveness, accessibility, rapid deployment, reliability, and availability. Configuration management is used to manage and maintain cloud-based solutions by automating the provisioning, configuration, and maintenance of cloud resources while ensuring consistency, compliance, and reliability. For instance, in September 2022, according to reports shared by the AAG IT Support Service, a US-based digital transformation service provider, a global study of 753 technical and business professionals revealed that 63% of respondents reported heavy usage of cloud services. This marked an increase from 59% in 2021 to 53% in 2020. Therefore, the rising need for automated management is driving the growth of the configuration management market.
Market Trends –
Major companies operating in the configuration management market are developing cloud-based configuration lifecycle management platforms, such as the configit ace cloud14to address the increasing complexity of products and systems and meet compliance and regulatory requirements effectively. Configit ace cloud14 platform refers to a comprehensive software solution that manages all aspects of product configuration definitions and configurations across various business processes throughout the entire product lifecycle. For instance, in January 2023, Configit Ace, a Denmark-based software company, introduced a cloud-based configuration lifecycle management (CLM) platform, configit ace cloud14. This platform is designed to help businesses master product complexity by aligning every business function that touches configured products, from engineering and sales to manufacturing and service, to one single source of configuration truth. Additionally, it offers features such as reliability, scalability, integration capabilities, a single source of truth, compliance, global availability, support, scalability, cost savings, and efficiency to help businesses effectively manage complex products and systems.
The configuration management market covered in this report is segmented –
1) By Component: Solution, Service, Enterprise Size
2) By Module: Configuration Management Database (CMDB), Service Catalog, Service Definition, Other Modules
3) By Application: Managed Services, Professional Services
4) By Vertical: Banking, Financial Services, And Insurance (BFSI), Retail And Consumer Goods, Transportation, Energy And Utility, Healthcare, Manufacturing , Other Verticals
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Regional Insights –
North America was the largest region in the configuration management market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the configuration management market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the configuration management market are Amazon Web Services Inc., Microsoft Corporation, Alibaba Cloud Platform, International Business Machine Corporation, Oracle Corporation, Hewlett Packard Enterprise Development LP, VMware Inc., ServiceNow Inc., Red Hat Inc., Micro Focus, Atlassian Inc., BMC Software Inc., Progress Software Corporation, HashiCorp Inc., GitLab Inc., JetBrains s.r.o., Canonical Ltd., Chef Software Inc., Cloud Bees Inc., Northern.tech AS, CA Technologies, Octopus Deploy, Puppet Labs, Codenvy Inc., SaltStack Inc., Broadcom Inc., CFEngine AS
Table of Contents
1. Executive Summary
2. Configuration Management Market Characteristics
3. Configuration Management Market Trends And Strategies
4. Configuration Management Market – Macro Economic Scenario
5. Global Configuration Management Market Size and Growth
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31. Configuration Management Market Other Major And Innovative Companies
32. Global Configuration Management Market Competitive Benchmarking
33. Global Configuration Management Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Configuration Management Market
35. Configuration Management Market Future Outlook and Potential Analysis
36.Appendix
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