The demand for cloud IT service management (ITSM) is rapidly gaining traction on account of the shifting focus of the enterprises across the globe to migrate their applications to the cloud. Moreover, the movement to the cloud not only enhances customer usage but also improves employee IT engagement. A rapid rise is expected in demand for cloud ITSM in the Asia Pacific region during the forecast period. Key market players are focusing on differentiating their offering to increase market share.
MARKET DYNAMICS
The cloud ITSM market is anticipated to grow in the forecast period owing to driving factors such as the growing inclination of organizations towards cloud-based services, and integration of AI-enabled tools. Also, easy deployment and agile implementation are further likely to boost market growth. However, data security and privacy concerns may negatively influence the growth of the cloud ITSM market during the forecast period. Nevertheless, the increasing trend of bring-your-own-devices (BYOD) is expected to showcase significant growth prospects for the key players of the cloud ITSM market in the future.
MARKET SCOPE
The "Global Cloud ITSM Market Analysis to 2028" is a specialized and in-depth study of the technology, media and telecommunications industry with a special focus on the global market trend analysis. The report aims to provide an overview of cloud ITSM market with detailed market segmentation by component, organization size, industry vertical, and geography. The global cloud ITSM market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading cloud ITSM market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
The global cloud ITSM market is segmented on the basis of component, organization size, and industry vertical. Based on component, the market is segmented as solution and services. On the basis of the organization size, the market is segmented as large enterprises and SMEs. The market on the basis of the industry vertical is classified as BFSI, IT and telecom, manufacturing, retail and consumer goods, government and public sector, and others.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global cloud ITSM market based on various segments. It also provides market size and forecast estimates from the year 2020 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South & Central America. The cloud ITSM market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting cloud ITSM market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period, i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South & Central America after evaluating political, economic, social and technological factors affecting the cloud ITSM market in these regions.
MARKET PLAYERS
The reports cover key developments in the cloud ITSM market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved the way for the expansion of business and customer base of market players. The market players from cloud ITSM market are anticipated to lucrative growth opportunities in the future with the rising demand for cloud ITSM in the global market. Below mentioned is the list of few companies engaged in the cloud ITSM market.
The report also includes the profiles of key cloud ITSM companies along with their SWOT analysis and market strategies. In addition, the report focuses on leading industry players with information such as company profiles, components and services offered, financial information of the last three years, key developments in the past five years.
- Axios Systems PLC
- BMC Software, Inc.
- Broadcom Inc
- Cherwell Software, LLC
- Citrix Systems, Inc.
- Freshworks Inc.
- IBM Corporation
- Ivanti
- Micro Focus International plc
- ServiceNow, Inc.
The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.