The size of the IT Service Management (ITSM) Market is anticipated to increase from USD 10.5 billion in 2023 to USD 22.1 billion by 2028 at a Compound Annual Growth Rate (CAGR) of 15.9%. The worldwide ITSM market is anticipated to increase due to the need for enterprise service management across verticals, adherence to government-led reporting requirements and regulatory compliance across verticals and regions, and the desire for convenient deployment in disaster-prone locations.
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By solution, Service Desk Software will grow at the highest CAGR during the forecast period.
The primary functions of the service desk are incident control, event management, life cycle management of all service requests, and communicating with end users of those IT services. These solutions offer various benefits, such as increased accessibility to assistance/help through a single point of contact, communication, and information; better quality and quicker turnaround of user requests; improved IT support resources and increased productivity; and better-managed infrastructure and control.
By services, the professional services segment will have a higher market share during the forecast period.
Professional services comprise education, training and certification, consulting, planning, implementation, and support and maintenance necessary to implement ITSM solutions successfully. In this ITSM service, providers thoroughly evaluate the project life cycle, help staff, and assign the right person for the correct process. Professionals also ensure that the solution supports business goals with better communication services. Various software solutions are installed, and departments are integrated in real-time to provide better resource visibility. As part of these services, vendors cover all phases of solution implementation, from planning, deploying, and support to ongoing optimization.
By region, the Asia Pacific region recorded the highest CAGR during the forecast period.
Rising rates of urbanization, technical developments, and government backing for the digital economy are significant drivers of technological advancements in the region. Many firms use cloud-based strategies due to the quick results in cloud computing, IoT, and telecommunications. Throughout the projected period, the area is anticipated to increase significantly. The adoption of ITSM solutions has risen substantially due to the growing volume of business processes and the growing use of cloud technologies. The complexity of manually managing workloads and applications results from the ever-increasing usage of cloud technologies and massive data sets, which will primarily drive the adoption of cloud ITSM solutions among businesses in this region. The primary motivators behind organizations’ adoption of cloud technologies would be the low cost and simple implementation of ITSM solutions. The growing preference for cloud-based solutions is anticipated to propel the ITSM market’s rapid expansion in this area.
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Unique Features in the IT Service Management (ITSM) Market
Modern ITSM platforms use machine learning to auto-classify tickets, suggest resolutions, route requests to the right teams, and automate repetitive tasks. This reduces mean time to resolution (MTTR) and lets human agents focus on higher-value work.
Chatbots and conversational assistants integrated with collaboration tools (Slack, Teams) let users raise requests, get updates, or run diagnostics through natural language. This improves accessibility and speeds up routine support interactions.
A unified self-service portal with searchable knowledge bases, FAQs, and guided troubleshooting empowers users to resolve many issues without agent help. Strong KM reduces ticket volume and improves first-contact resolution metrics.
Dynamic service catalogs present personalized, role-aware service offerings, including automated fulfillment workflows and approvals. Catalogs link services to costs, SLAs, and provisioning scripts for faster and more consistent delivery.
Major Highlights of the IT Service Management (ITSM) Market
The ITSM market is witnessing strong expansion as enterprises accelerate digital transformation initiatives. Businesses are prioritizing ITSM solutions to ensure consistent service delivery, improve agility, and maintain uninterrupted digital experiences for employees and customers.
A major highlight is the rapid shift from on-premises to cloud-native ITSM solutions. SaaS-based ITSM tools provide flexibility, scalability, and faster updates, making them especially attractive for enterprises managing hybrid and multi-cloud environments.
Artificial intelligence, machine learning, and automation are central to ITSM evolution. From automated ticket routing and self-healing workflows to predictive analytics for incident prevention, these capabilities are reducing operational costs while enhancing productivity.
Organizations are investing heavily in self-service portals, knowledge bases, and chatbot-driven support to empower end users. Enhancing employee experience and minimizing service desk dependency are key differentiators in the modern ITSM landscape.
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Top Companies in the IT Service Management (ITSM) Market
Some of the key players operating in the ITSM market are – ServiceNow (US), BMC Software (US), Broadcom (US), Ivanti (US), ManageEngine (India), SolarWinds (US), GoTo (US), Atlassian (Australia), OpenText (Canada) and Zendesk (US).
ServiceNow
ServiceNow is a California-based company that was founded in 2003. It provides global enterprise cloud computing services for digital workflows with a service model that structures, automates, and defines work processes. This allows for smooth delivery and management of services for businesses. The company offers various products for ITSM, service management, ITOM (IT Operations Management), business management, and application development. ServiceNow integrates multiple business applications on the ServiceNow platform. The company’s ITSM on the cloud provides end-to-end visibility into ITIL processes. ServiceNow serves various industries, including financial services, healthcare, higher education, life sciences, IT, and the public sector.
BMC Software
BMC Software is a leading system and service management solutions company. Founded in 1980 and based in Texas, US, it offers ITSM, SaaS, cloud computing, virtualization, analytics, mobility, and data center automation solutions to help enterprises gain a competitive advantage. The company serves various industries, including healthcare, financial services, retail, telecommunications, manufacturing, and the public sector. In October 2018, KKR and Company Inc., an American investment firm, acquired it. With around 9,600 employees, BMC Software serves over 10,000 customers across North America, Europe, the Middle East & Africa, Asia Pacific, and Latin America.
Broadcom
Broadcom is a company that supplies semiconductor and infrastructure software solutions. In November 2018, Broadcom acquired CA Technologies, which was a landmark acquisition that bolstered Broadcom’s IT infrastructure and software solution offerings. CA Technologies is a global provider of software solutions that enables customers to plan, develop, manage, and secure their application and enterprise environments across distributed, cloud, mobile, and mainframe platforms.
Efecte
Efecte, based in Finland, offers cloud-based IT Service Management (ITSM) solutions. Their platform streamlines IT service delivery, incorporates automation and self-service features, integrates with existing IT systems, ensures compliance, and provides comprehensive customer support and training. Efecte empowers organizations to optimize IT service management processes and enhance user satisfaction.
ManageEngine
ManageEngine, based in India, offers a user-friendly suite of IT Service Management (ITSM) solutions aligned with ITIL best practices. Their comprehensive suite includes modules for incident, problem, change, and asset management, among others. Known for ease of use, integration capabilities, automation, and scalability, ManageEngine empowers organizations to streamline IT service delivery and enhance operational efficiency.
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