Description
The report published in WGR on the global ITSM market revealed the growth of the market to be at a notable pace. The valuation of the ITSM market was further stated to surpass its previous valuation.
IT service management (ITSM) refers to a number of activities under the IT bracket. These activities are directed under various policies, organized and structured in processes and supporting procedures. The management of the same is performed by companies to plan, deliver, design, operate, and control IT services that are offered to the customers. It is directly linked with the implementation of various IT services to meet the needs of the customers. The management of these services is performed by proficient IT service providers with the help of an appropriate mix of people, process, and information technology.
Competitive Landscape
The global ITSM market comprises a host of key players. This includes names like Servicenow, CA Technologies, Cherwell Software, BMC Software, Heat Software, Citrix Systems, HPE, Hornbill, Axios Systems, IBM, and others. The players mentioned herein are growing at a rapid pace and introducing new solutions to boost the overall market landscape.
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Market Segmentation
The global ITSM market has been segmented in terms of type and applications.
By type, the market segments into Configuration and change management, Service portfolio management, Dashboard, reporting, and analytics, Operations and performance management, Service desk software, and others.
By application, the market divides into Healthcare and life sciences, Banking, Financial Services, and Insurance (BFSI), Government and public sector, Telecommunication and IT, Travel and hospitality, Retail and Consumer Packaged Goods (CPG), Manufacturing, Education, Energy and utilities, and others.
Regional Analysis
The global ITSM market is geographically distributed across the following key regions: Latin America & Central America, Southeast Asia, Asia Pacific, United States, Europe, China, India, and Japan. The global regional market study of the IT service management showcased positive growth signs across various areas. The United States market is one such example. The regional market is expected to grow at a profound pace in the coming years. This is due to the established IT infrastructure herein. Add to this, the region is technologically advanced and has a constantly expanding IT sector. These are collectively driving the market growth in the United States region.
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Industry Buzz
April 2019, SolarWinds, a global leader in providing powerful as well as affordable ITMS solutions, announced today that it has inked down a deal to acquire Samange, which is a highly rated IT service desk solution organization. The move is aimed at strengthening the position of SolarWinds in the ITSM market.
August 2019, it was announced through a press release that Digital Defense, Inc. is integrating with Cherwell IT Service Management (ITSM) platform for its Frontline.Cloud™ vulnerability management and threat assessment platform. The collaboration of these two security technologies will allow joint customers to automate the ticketing process, thereby ensuring quick and effective measurements by organizations on the security vulnerabilities and threats that they might face.
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