IT service management includes all the activities that are involved in designing, creating, delivering, supporting, as well as managing the lifespan of IT services. The IT service management tools help in aligning IT services according to the business needs. It enables an organization to establish a standard for planning, implementing, and measuring IT services offered to customers.
MARKET SCOPE
The "Global IT Service Management Tools Market Analysis to 2028" is a specialized and in-depth study with a special focus on the global market trend analysis. The report aims to provide an overview of the IT service management tools market with detailed market segmentation by deployment, organization size, and geography. The report provides key statistics on the market status of the leading IT service management tools market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
- Based on deployment, the global IT service management tools market is segmented into cloud-based and on-premise.
- On the basis of organization size, the market is segmented into large enterprises and SMEs.
MARKET DYNAMICS
Drivers:
- The rising need among diverse industries for remote solutions, which are accessible from anywhere is the key driver of IT service management tools market.
- Easy deployment, coupled with agile implementation, is also propelling the growth of IT service management tools market. These tools help the companies to enhance their operational efficacy, thus resulting in its increased implementation.
Restraints:
- Lack of quality standards in service level agreement, and issues related to security and privacy-related with the technologies could hinder the growth of IT service management tools market. Also, the need for high network bandwidth acts as a challenging factor to market growth.
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 market based on various segments. It also provides market size and forecast estimates from the year 2019 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The IT service management tools 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 the 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 America after evaluating political, economic, social and technological factors affecting the IT service management tools market in these regions.
IMPACT OF COVID-19 ON IT SERVICE MANAGEMENT TOOLS MARKET
COVID-19 first began in Wuhan (China) during December 2019 and since then it has spread at a fast pace across the globe. The US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are some of the worst affected countries in terms confirmed cases and reported deaths. The COVID-19 has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. Shutdown of various plants and factories has affected the global supply chains and negatively impacted the manufacturing, delivery schedules, and sales of products in global market. Few companies have already announced possible delays in product deliveries and slump in future sales of their products. In addition to this, the global travel bans imposed by countries in Europe, Asia-Pacific, and North America are affecting the business collaborations and partnerships opportunities.
MARKET PLAYERS
The report covers key developments in the IT service management tools 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 way for the expansion of business and customer base of market players. The market players from IT service management tools market are anticipated to lucrative growth opportunities in the future with the rising demand in the global market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the IT service management tools market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
- ASG Software
- Atlassian
- Axios Systems
- BMC Software
- CA Technologies
- Cherwell Software
- HEAT Software
- Hewlett Packard Enterprise (HPE)
- IBM Corporation
- SAP SE