IT Service Management Market Insights
The global IT service management market has been predicted to grow at an impressive 12% CAGR during the forecast period of 2017 to 2018. This figure has been reported by Market Research Future in its recently published market report on the subject. The growing demand for the end to end management of all IT activities and services such as designing, creating, delivery, deployment, support and management of various IT services has greatly fueled the growth for the market.
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The increasing adoption of cloud computing has changed the way enterprises operate and have thus increased market growth for IT services and their management. This has been adopted across various industrial verticals, thus being responsible for the rapid growth of this market. Cloud deployment is the primary motivator of growth for IT services management market as it allows businesses to focus on core business practices and efficiently provide protection of date, storage management, data integrity and privacy issue among other services.
Market Segmentation
Evaluation of the segments reveals market trends and allows for accurate identification of leading components of the market and provides indications of various factors that affect growth. The global IT service management market has been segmented on the basis of type, deployment, end-user, and region.
By end-user, the market has been segmented into manufacturing, healthcare, media & entertainment, IT & telecommunication, BFSI, retail, and others.
By region, the market has been segmented into North America, Europe, the Asia-Pacific, and the Rest of the World.
Regional Analysis
North America has the market lead in the global IT service management market due to a presence of market leaders who offer affordable and efficient ITSM solutions that are up to date with the latest technology.
Meanwhile, the Asia Pacific is expected to have the fastest growing and highest CAGR during the forecast period due to the widespread availability of opportunity that has not yet been realized. Countries such as India, Japan, South Korea and China have many market leaders investing in the region. Additionally, India has emerged as an IT hub in the past few years, thus propelling growth.
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Key Players
Some prominent market players that have been analyzed in the report include Axios Systems, Cherwell Software, BMC Software, HP, CA Technologies, IBM Corporation, Microsoft Corp., Absolute Software, Citrix Systems, Landesk Software, Compuware, EMC Corporation, Manage Engine, Service Now Inc., and others.
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