ITSM Market Insights and Outlook During 2019-2025

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IT service management (ITSM) refers to the entirety of activities directed by policies, organized and structured in processes and supporting procedures that are performed by an organization to design, plan, deliver, operate and control information technology (IT) services offered to customers. It is thus concerned with the implementation of IT services that meet customers’ needs, and it is performed by the IT service provider through an appropriate mix of people, process and information technology.

Differing from more technology-oriented IT management approaches like network management and IT systems management, IT service management is characterized by adopting a process approach towards management, focusing on customer needs and IT services for customers rather than IT systems, and stressing continual improvement.

The ITSM market study covers different verticals including IT & telecommunication, healthcare & life sciences, retail & consumer goods, manufacturing, BFSI, media & entertainment, government & public, travel & hospitality, and others including education, and energy & utilities. These verticals are expected to witness high adoption of cloud ITSM solutions and services to achieve various benefits, such as increased efficiency, higher RoI, and cost-effectiveness. Among these, IT & telecommunication is expected to have the largest market size during the forecast period. IT and ITES companies have taken several steps, such as business process outsourcing, infrastructure sharing, IT outsourcing, and revenue assurance, to reduce their operating costs and increase their revenues.

The cautious growth of optimism among large enterprises has led to a gradual recovery of corporate IT spending. According to IDC analysts (Worldwide Semiannual Services Tracker report), it was this factor that contributed to the growth of the IT Service Management (ITSM) services market last year. The total revenue from the provision of IT services on a global scale at the end of 2018 exceeded $ 1 trillion. The growth of the comprehensive IT services market in monetary terms amounted to 4.3% compared to the previous year. This is 0.5 percentage points higher than the dynamics of world GDP.

The major manufacturers covered in this report: BMC Software, CA Technologies, ServiceNow, Cherwell Software, HPE, Citrix Systems, Axios Systems, IBM, Heat Software, and Hornbill.

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ServiceNow was founded in 2004 and is headquartered in California, US. The company is a provider of enterprise cloud computing services for digital workflows across the globe. Digital transformations enhance workflow experiences and increase the productivity of any enterprise by simplifying and streamlining business processes. The company provides a service model to its customers that defines, structures, and automates the flow of work, enabling smooth delivery and management of services for enterprises. ServiceNow provides products for service management, ITSM, IT operations management, business management, and application development.

BMC Software was founded in 1980 and is headquartered in Texas, US. The company is one of the leaders in developing software that offers system and service management solutions to enterprises for gaining competitive advantage. BMC Software specializes in ITSM, SaaS, cloud computing, virtualization, analytics, mobility, and data center automation. Additionally, the company is one of the leaders in developing software that offers systems and service management solutions for enterprises. In July 2019, BMC software partnered with the George Washington University to enhance its service management and accelerate digital initiatives using the BMC Helix Cognitive Service Management platform.

The ITSM market can be divided based on product types and It's sub-type, major applications and Third Party usage area, and important regions.

This report segments the global ITSM Market on the basis of Types are:
Service portfolio management
Configuration and change management
Service desk software
Operations and performance management
Dashboard, reporting, and analytics

On The basis Of Application, the Global ITSM Market is Segmented into:
Banking, Financial Services, and Insurance (BFSI)
Telecommunication and IT
Healthcare and life sciences
Retail and Consumer Packaged Goods (CPG)
Government and public sector
Energy and utilities
Travel and hospitality

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Recent Developments:

  • In August 2019, ServiceNow set up a new R&D center in Hyderabad, India. This development center would be the largest R&D center in Asia and the second largest across the globe. This center focuses on improving AI and mobile capabilities of the ITSM offerings that enhance the customer experience.
  • In May 2019, ServiceNow partnered with Google for its Google Cloud Platform. Cloud computing increases competitiveness and agility to accelerate innovation, expand market footprints, and reduce IT costs.
  • In February 2019, BMC Software partnered with IBM, an American multinational information technology company. With this partnership, AI capabilities of IBM Watson were integrated with BMC Helix and BMC Software's Cognitive service management.

Regions covered By ITSM Market Report 2019 to 2025.
North America, Europe, China, Japan, Southeast Asia, India, North America (USA, Canada and Mexico) Europe (Germany, France, UK, Russia and Italy) Asia-Pacific (China, Japan, Korea, India and Southeast Asia).

The report has 150 tables and figures browse the report description and TOC:

At last, the report gives the inside and out examination of the ITSM Market took after by the above components, which are useful for organizations or individuals for the development of their present business or the individuals who are hoping to enter in ITSM industry.

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