Cloud ITSM Market

Cloud ITSM Market by Component (Solutions (Service Portfolio Management, Configuration & Change Management, Operations & Performance Management), Services), Vertical (BFSI, IT & Telecommunication, Retail & Consumer Goods), Region - Global Forecast to 2024

Report Code: TC 4348 Sep, 2019, by marketsandmarkets.com

[161 Pages Report] MarketsandMarkets forecasts the global cloud IT service management market size to grow from USD 4.4 billion in 2019 to USD 10.4 billion by 2024, at a CAGR of 18.6% during 2019–2024. Major growth factors for the industry include increasing shift to cloud-based technology and integration of AI-enabled tools with ITSM solutions.

Cloud-Based ITSM Market

The IT and ITeS vertical to grow at the largest market size during the forecast period

The Cloud IT Service Management Market by vertical covers IT & telecommunication, healthcare and life sciences, retail & consumer goods, manufacturing, BFSI, media & entertainment, government & public, travel & hospitality, and others including education, and energy &utilities verticals. These verticals are expected to witness high adoption of IT service management solutions and services to achieve various benefits, such as increased efficiency, higher RoI, and cost-effectiveness. Among these, IT & telecommunication is expected to have the largest market size during the forecast period. IT & ITES companies have undertaken several steps, such as business process outsourcing, infrastructure sharing, IT outsourcing, and revenue assurance, to reduce their operating costs and increase their revenues.

By solution, the managed services segment is expected to grow at the highest CAGR during the forecast period

The component segment is subdivided into solutions and services segments. Based on services, the Cloud IT Service Management Market is segmented as professional services and managed services. Among the services, the managed services segment is expected to grow at the highest CAGR during the forecast period. Managed services offer technical skills, which are required to maintain and update all software in the cloud ITSM ecosystem. All the pre- and post-deployment queries and needs of the customers are addressed under managed services. Managed services provide end-users with software configured to their requirements to assist at every step of software usage.

Cloud-Based ITSM Market

North America to hold the largest market size during the forecast period

North America is expected to hold the largest market size in the global cloud ITSM market by 2024, as the rise in competition in the cloud IT service management market in the region, service organizations across verticals would embrace professional services to gain competitive advantage. On the other hand, APAC is expected to grow at the highest rate during the forecast period. The growth across APAC is driven by a rapid increase in considerations of cloud ITSM solutions.

Key Cloud ITSM Market Players

The major cloud IT service management market vendors operating globally include ServiceNow (US), HPE (US), IBM (US), BMC Software (US), CA Technologies (US),Cherwell Software (US), Ivanti (US),Citrix Systems (US), Hornbill (UK), Axios Systems (US),Efecte (Finland), ManageEngine (US), EasyVista (US),Atlassian (Australia), Alemba (UK),SysAid (Israel),Microsoft (US),LogMein (US), Micro Focus (UK), and Freshworks (US).

ServiceNow was founded in 2004 and is headquartered in California, US. The company is a provider of enterprise cloud computing services for digital workflows across the globe. Digital transformations enhance workflow experiences and increase the productivity of any enterprise by simplifying and streamlining business processes. The company provides a service model to its customers that defines, structures, and automates the flow of work, enabling smooth delivery and management of services for enterprises. ServiceNow provides products for service management, ITSM, IT operations management, business management, and application development.

BMC Software was founded in 1980 and is headquartered in Texas, US. The company is one of the leaders in developing software that offers system and service management solutions to enterprises for gaining competitive advantage. BMC Software specializes in ITSM, SaaS, cloud computing, virtualization, analytics, mobility, and data center automation. Additionally, the company is one of the leaders in developing software that offers systems and service management solutions for enterprises. In July 2019, BMC software partnered with the George Washington University to enhance its service management and accelerate digital initiatives using the BMC Helix Cognitive Service Management platform.

Scope of the Cloud IT Service Management Market Report

Report Metrics

Details

Market size available for years

2017–2024

Base year considered

2018

Forecast period

2019–2024

Forecast units

Million (USD)

Segments covered

Components, organization size, verticals, and regions

Geographies covered

North America, Europe, APAC, MEA, and Latin America

Companies covered

ServiceNow (US), HPE (US),IBM (US), BMC Software (US), CA Technologies (US),Cherwell Software (US), Ivanti (US),Citrix Systems (US), Hornbill (UK), Axios Systems (US),Efecte (Finland), ManageEngine (US), EasyVista (US),Atlassian (Australia), Alemba (UK),SysAid (Israel),Microsoft (US),LogMein (US), Micro Focus (UK), and Freshworks (US)

This research report categorizes the cloud IT service management market based on application, component, deployment mode, and region.

Cloud IT Service Management Market Based on Components:

  • Solutions
    • Service portfolio management
    • Configuration & change management
    • Service desk software
    • Operations & performance management
    • Dashboard reporting & analytics
  • Services
    • Professional services
    • Managed services

Cloud IT Service Management Market Based on Organization Size:

  • SMEs
  • Large enterprises

Cloud IT Service Management Market Based on Verticals:

  • IT & telecommunication
  • Healthcare & life sciences
  • Retail & consumer goods
  • Manufacturing
  • BFSI
  • Media & entertainment
  • Government & public
  • Travel & hospitality
  • Others [education, and energy & utilities]

Cloud IT Service Management Market Based on Regions:

  • North America
  • Europe
  • APAC
  • MEA
  • Latin America

Recent Developments:

  • In August 2019, ServiceNow set up a new R&D center in Hyderabad, India. This development center would be the largest R&D center in Asia and the second largest across the globe. This center focuses on improving AI and mobile capabilities of the ITSM offerings that enhance the customer experience.
  • In May 2019, ServiceNow partnered with Google for its Google Cloud Platform. Cloud computing increases competitiveness and agility to accelerate innovation, expand market footprints, and reduce IT costs.
  • In February 2019, BMC Software partnered with IBM, an American multinational information technology company. With this partnership, AI capabilities of IBM Watson were integrated with BMC Helix and BMC Software’s Cognitive service management.

Critical Questions the Report Answers:

  • What current trends in the cloud ITSM market are driving the demand for technological advancements?
  • What are the regulations that are impacting the market?
  • What are the use cases of various vendors providing cloud ITSM solution and platforms?
  • What are various developments undertaken by key players in the Cloud IT Service Management Market and competitive analysis of vendors?
  • How is the adoption of cloud ITSM across regions?

To speak to our analyst for a discussion on the above findings, click Speak to Analyst

Table of Contents

1 Introduction (Page No. - 19)
    1.1 Objectives of the Study
    1.2 Market Definition
           1.2.1 Inclusions and Exclusions
    1.3 Market Scope
           1.3.1 Market Segmentation
           1.3.2 Regions Covered
    1.4 Years Considered for the Study
    1.5 Currency Considered
    1.6 Stakeholders

2 Research Methodology (Page No. - 23)
    2.1 Research Data
           2.1.1 Secondary Data
           2.1.2 Primary Data
                    2.1.2.1 Breakup of Primary Profiles
                    2.1.2.2 Key Industry Insights
    2.2 Market Breakup and Data Triangulation
    2.3 Market Size Estimation
           2.3.1 Top-Down Approach
           2.3.2 Bottom-Up Approach
    2.4 Market Forecast
    2.5 Assumptions for the Study
    2.6 Limitations of the Study

3 Executive Summary (Page No. - 30)

4 Premium Insights (Page No. - 35)
    4.1 Attractive Market Opportunities in the Cloud ITSM Market
    4.2 Market By Component (2019 vs 2024)
    4.3 Market By Solution (2019 vs 2024)
    4.4 Market By Organization Size (2019 vs 2024)
    4.5 Market By Vertical (2019 vs 2024)
    4.6 Market Investment Scenario

5 Cloud ITSM Market Overview and Industry Trends (Page No. - 38)
    5.1 Introduction
    5.2 Market Dynamics
           5.2.1 Drivers
                    5.2.1.1 Increasing Shift to Cloud-Based Technologies
                    5.2.1.2 Integration of AI-Enabled Tools With ITSM Solutions
                    5.2.1.3 Benefits of Agile Implementation, Easy Deployment, and OPEX Model
           5.2.2 Restraints
                    5.2.2.1 Security and Privacy Concerns for Confidential Data and Business Processes
           5.2.3 Opportunities
                    5.2.3.1 Growing Demand Among SMEs
                    5.2.3.2 Widespread Adoption of Byod Trend and Increasing Mobile Workforce
           5.2.4 Challenges
                    5.2.4.1 Lack of Standard Procedures and Integration Concerns With Traditional Architectures
    5.3 Use Cases
           5.3.1 Use Case 1: Government
           5.3.2 Use Case 2: Information Technology
           5.3.3 Use Case 3: Government
           5.3.4 Use Case 4: Transportation

6 Cloud IT Service Management Market By Component (Page No. - 44)
    6.1 Introduction
    6.2 Solutions
           6.2.1 Need to Enhance Customer Experience Leading to Increase in Demand for Cloud ITSM Solutions
    6.3 Services
           6.3.1 Benefits of Simplified Implementation and Maximum Return on Investment Leading to Growth in Demand for Associated Cloud ITSM Services

7 Cloud ITSM Market By Solution (Page No. - 48)
    7.1 Introduction
    7.2 Service Portfolio Management
           7.2.1 Service Level Management
                    7.2.1.1 AIMS to Negotiate Slas With Customers and Design Services in Accordance With the Agreed Service Level Targets
           7.2.2 IT Asset Management
                    7.2.2.1 Enables Organizations to Improve Infrastructure Efficiency and Performance, and Minimize Overhead Expenses
           7.2.3 Financial Management
                    7.2.3.1 Improves Decision-Making, Financial Compliance, and Control
    7.3 Configuration and Change Management
           7.3.1 Configuration Management
                    7.3.1.1 Streamlines the Operations Between Different Components of the Systems
           7.3.2 Change and Release Management
                    7.3.2.1 Ensures Standardized Methods are Used for Efficient Handling of All Changes to Control IT Infrastructure
    7.4 Service Desk Software
           7.4.1 Event and Incident Management
                    7.4.1.1 Detects and Analyzes Events to Determine the Appropriate Process for Dealing With the Events and Incidents
           7.4.2 Problem Management
                    7.4.2.1 Reduces the Number and Severity of Incidents and Potential Problems and Their Adverse Impacts on the IT Infrastructure of the Organization
           7.4.3 Access Management
                    7.4.3.1 Protects the Confidentiality, Integrity, and Availability of Data and Intellectual Property of an Organization
           7.4.4 Request Fulfilment and Self-Service Solutions
                    7.4.4.1 AIMS to Provide Quick and Effective Access to Standard Services to Users
    7.5 Operations and Performance Management
           7.5.1 Availability Management
                    7.5.1.1 Availability Management Solution are Often Utilized With Problem and Incident Management Solution to Identify IT Service Failures and Their Causes and Ensure Corrective Measures are Being Taken
           7.5.2 Performance Monitoring and IT Operations Management
                    7.5.2.1 Benefits of Insights Into the Value That Each Business Function Delivers and Easy Communications With Customers and Other Stakeholders to Drive the Demand for Operations and Performance Management
           7.5.3 Workload Automation
                    7.5.3.1 Workload Automation Solution are Gaining Importance as the Enabler of Today’s Mobile-Driven ITSM
    7.6 Dashboard Reporting and Analytics
           7.6.1 Need for Improving Return on Investment and Achieving Wholistic View of Systems to Drive the Demand for Dashboard Reporting and Analytics

8 Cloud IT Service Management Market By Service (Page No. - 57)
    8.1 Introduction
    8.2 Managed Services
           8.2.1 Focus on Core Business Functions to Drive the Adoption of Managed Services in Coming Years
    8.3 Professional Services
           8.3.1 Need for Professional Services to Grow as They Facilitate Better Implementation of Cloud ITSM and Improve Return on Investment

9 Cloud ITSM Market By Organization Size (Page No. - 61)
    9.1 Introduction
    9.2 Small and Medium-Sized Enterprises
           9.2.1 Reduced Cost of Implementation With Flexible Pricing Models Leading to Higher Adoption of Cloud ITSM in Small and Medium-Sized Enterprises
    9.3 Large Enterprises
           9.3.1 Need to Improve Customer Experience and Expand User Base Leading to Surge in the Adoption of Cloud ITSM Among Large Enterprises

10 Cloud IT Service Management Market By Vertical (Page No. - 65)
     10.1 Introduction
     10.2 Banking, Financial Services, and Insurance
             10.2.1 Increased Focus of BFSI Organizations to Take Proactive Measures Against Service Outages and Reduce Risks in Critical Operations to Drive the Adoption of Cloud ITSM
     10.3 Government and Public Sector
             10.3.1 Focus of Government and Public Organizations to Streamline Service Processes and Improve Service Delivery Time to Drive the Adoption of Cloud ITSM Solutions in the Vertical
     10.4 Healthcare and Life Sciences
             10.4.1 Need to Automate and Improve Complex Healthcare Services to Drive the Demand for Cloud ITSM Solutions in the Vertical
     10.5 Telecommunications
             10.5.1 Need for End-To-End Service Level Monitoring to Drive the Growth of Cloud ITSM Solutions in the Telecommunications Vertical
     10.6 IT and ITeS 
             10.6.1 IT and ITeS Enterprises’ Focus on Enhancing Customer Experience Leading to Increase in the Demand for Cloud ITSM
     10.7 Manufacturing
             10.7.1 Rising Need to Streamline Product Manufacturing and Delivery Processes to Drive the Adoption of Cloud ITSM Solutions in the Vertical
     10.8 Media and Entertainment
             10.8.1 Focus of Organizations on Providing High Performance Streaming With Minimal Service Delays to Customers to Drive the Growth of Cloud ITSM Solutions in the Media and Entertainment Vertical
     10.9 Retail and Consumer Goods
             10.9.1 Growing Need to Offer Best-In-Class Customer Experience to Drive the Adoption of Cloud ITSM Solutions in the Retail and Consumer Goods Vertical
     10.10 Travel and Hospitality
             10.10.1 Growing Focus of Organizations to Track Service Maintenance Requests From Multiple Geographies and Keep System Functioning to Drive the Growth for Cloud ITSM Solutions in the Travel and Hospitality Vertical
     10.11 Others

11 Cloud ITSM Market By Region (Page No. - 77)
     11.1 Introduction
     11.2 North America
             11.2.1 United States
                        11.2.1.1 Increasing Need for Enterprises to Automate IT Operations to Drive the Adoption of Cloud ITSM in the United States
             11.2.2 Canada
                        11.2.2.1 Deployment of Cloud ITSM Solutions to Get Actionable Insights Fueling the Market Growth in Canada
     11.3 Europe
             11.3.1 United Kingdom
                        11.3.1.1 Focus of Organizations to Scale ITSM Operations in Response to Their Changing Business Needs to Drive the Growth of Cloud ITSM Solutions in the Uk
             11.3.2 Germany
                        11.3.2.1 Need to Improve IT Service Deliverability With the Holistic ITSM Approach to Propel the Market Growth in Germany
             11.3.3 France
                        11.3.3.1 Increasing Focus of Organizations to Build an Effective ITSM Automation Strategy to Propel the Market Growth in France
             11.3.4 Italy
                        11.3.4.1 Agile and Cost-Effective Cloud ITSM Offerings Present in the Market to Drive the Demand Among Enterprises in Italy
             11.3.5 Spain
                        11.3.5.1 Growing Awareness About Cloud ITSM Offerings Among Different Verticals to Boost the Market Growth
             11.3.6 Rest of Europe
     11.4 Asia Pacific
             11.4.1 China
                        11.4.1.1 High IT Spending and Stable Government Support for Implementing the Latest Technologies to Drive the Market Growth in China
             11.4.2 Japan
                        11.4.2.1 Growing Interest of Organizations Toward Implementing Cloud Technology-Based Solutions to Fuel the Cloud IT Service Management Market Growth in Japan
             11.4.3 Australia
                        11.4.3.1 Need to Deliver Consistent Customer Service Experience to Drive the Adoption of Cloud ITSM Solutions in Australia
             11.4.4 Singapore
                        11.4.4.1 Strong Adoption of Cloud Services in the Country to Assist in the Adoption of Saas ITSM Solutions
             11.4.5 India
                        11.4.5.1 Presence of Global Vendors and Large ITeS Vendors With Huge Customer Bases to Boost the Demand for Cloud ITSM in India
             11.4.6 Rest of Asia Pacific
     11.5 Middle East and Africa
             11.5.1 Saudi Arabia
                        11.5.1.1 Focus of Organizations to Lower Down the Costs of IT Service Operations and Identify Process Gaps to Drive the Market Growth in Saudi Arabia
             11.5.2 United Arab Emirates
                        11.5.2.1 Need to Offer Round-The-Clock Support to End Users and Maintain Operational Performance to Drive the Market Growth in the UAE
             11.5.3 Qatar
                        11.5.3.1 Increasing Presence of Global Vendors in the Country and Improving IT Infrastructure to Drive the Growth in Qatar
             11.5.4 South Africa
                        11.5.4.1 Demand From Organizations to Focus on Core Business Activities to Propel the Growth of Cloud ITSM Solutions in South Africa
             11.5.5 Rest of Middle East and Africa
     11.6 Latin America
             11.6.1 Brazil
                        11.6.1.1 Increasing Awareness of Organizations for Cloud ITSM Solutions to Improve Service Operations to Drive the Market Growth in Brazil
             11.6.2 Mexico
                        11.6.2.1 Increased Productivity of IT Support Teams By Using ITSM Solutions to Boost the Market Growth in Mexico
             11.6.3 Rest of Latin America

12 Competitive Landscape (Page No. - 116)
     12.1 Introduction
     12.2 Competitive Scenario
             12.2.1 New Product Launches
             12.2.2 Partnerships
             12.2.3 Acquisitions
             12.2.4 Expansions
     12.3 Competitive Leader Mapping
             12.3.1 Visionary Leaders
             12.3.2 Innovators
             12.3.3 Dynamic Differentiators
             12.3.4 Emerging Companies

13 Company Profiles (Page No. - 121)
     13.1 Introduction
(Business Overview, Products, Solutions & Services, Key Insights, Recent Developments, SWOT Analysis, MnM View)*
     13.2 Servicenow
     13.3 BMC Software
     13.4 Cherwell Software
     13.5 CA Technologies
     13.6 HPE
     13.7 IBM
     13.8 Axios Systems
     13.9 Ivanti
     13.10 Citrix Systems
     13.11 Hornbill
     13.12 Microsoft
     13.13 Easyvista
     13.14 Micro Focus
     13.15 Atlassian
     13.16 Alemba
     13.17 Sysaid
     13.18 Freshworks
     13.19 Logmein
     13.20 Manageengine
     13.21 Efecte

*Details on Business Overview, Products, Solutions & Services, Key Insights, Recent Developments, SWOT Analysis, MnM View Might Not Be Captured in Case of Unlisted Companies.

14 Appendix (Page No. - 151)
     14.1 Insights of Industry Experts
     14.2 Discussion Guide
     14.3 Knowledge Store: Marketsandmarkets’ Subscription Portal
     14.4 Available Customizations
     14.5 Related Reports
     14.6 Author Details


List of Tables (107 Tables)

Table 1 United States Dollar Exchange Rate, 2016–2018
Table 2 Factor Analysis
Table 3 Cloud ITSM Market Size, By Component, 2017–2024 (USD Million)
Table 4 Solutions: Market Size By Region, 2017–2024 (USD Million)
Table 5 Services: Market Size By Region, 2017–2024 (USD Million)
Table 6 Cloud IT Service Management Market Size, By Solution, 2017–2024 (USD Million)
Table 7 Service Portfolio Management: Market Size By Region, 2017–2024 (USD Million)
Table 8 Configuration and Change Management: Market Size By Region, 2017–2024 (USD Million)
Table 9 Service Desk Software: Cloud ITSM Market Size, By Region, 2017–2024 (USD Million)
Table 10 Operations and Performance Management: Market Size By Region, 2017–2024 (USD Million)
Table 11 Dashboard Reporting and Analytics: Market Size By Region, 2017–2024 (USD Million)
Table 12 Cloud IT Service Management Market Size, By Service, 2017–2024 (USD Million)
Table 13 Managed Services: Market Size By Region, 2017–2024 (USD Million)
Table 14 Professional Services: Market Size By Region, 2017–2024 (USD Million)
Table 15 Cloud ITSM Market Size, By Organization Size, 2017–2024 (USD Million)
Table 16 Small and Medium-Sized Enterprises: Market Size By Region, 2017–2024 (USD Million)
Table 17 Large Enterprises: Market Size By Region, 2017–2024 (USD Million)
Table 18 Cloud IT Service Management Market Size, By Vertical, 2017–2024 (USD Million)
Table 19 Banking, Financial Services, and Insurance: Market Size By Region, 2017–2024 (USD Million)
Table 20 Government and Public Sector: Market Size By Region, 2017–2024 (USD Million)
Table 21 Healthcare and Life Sciences: Market Size By Region, 2017–2024 (USD Million)
Table 22 Telecommunications: Cloud ITSM Market Size, By Region, 2017–2024 (USD Million)
Table 23 IT and ITeS: Market Size By Region, 2017–2024 (USD Million)
Table 24 Manufacturing: Market Size By Region, 2017–2024 (USD Million)
Table 25 Media and Entertainment: Market Size By Region, 2017–2024 (USD Million)
Table 26 Retail and Consumer Goods: Market Size By Region, 2017–2024 (USD Million)
Table 27 Travel and Hospitality: Market Size By Region, 2017–2024 (USD Million)
Table 28 Others: Market Size By Region, 2017–2024 (USD Million)
Table 29 Cloud IT Service Management Market Size, By Region, 2017–2024 (USD Million)
Table 30 North America: Cloud ITSM Market Size, By Component, 2017–2024 (USD Million)
Table 31 North America: Market Size By Solution, 2017–2024 (USD Million)
Table 32 North America: Market Size By Service, 2017–2024 (USD Million)
Table 33 North America: Market Size By Organization Size, 2017–2024 (USD Million)
Table 34 North America: Market Size By Vertical, 2017–2024 (USD Million)
Table 35 North America: Market Size By Country, 2017–2024 (USD Million)
Table 36 United States: Market Size By Component, 2017–2024 (USD Million)
Table 37 Unites States: Market Size By Organization Size, 2017–2024 (USD Million)
Table 38 Canada: Cloud IT Service Management Market Size, By Component, 2017–2024 (USD Million)
Table 39 Canada: Market Size By Organization Size, 2017–2024 (USD Million)
Table 40 Europe: Market Size By Component, 2017–2024 (USD Million)
Table 41 Europe: Market Size By Solution, 2017–2024 (USD Million)
Table 42 Europe: Market Size By Service, 2017–2024 (USD Million)
Table 43 Europe: Market Size By Organization Size, 2017–2024 (USD Million)
Table 44 Europe: Market Size By Vertical, 2017–2024 (USD Million)
Table 45 Europe: Market Size By Country, 2017–2024 (USD Million)
Table 46 United Kingdom: Cloud ITSM Market Size, By Component, 2017–2024 (USD Million)
Table 47 United Kingdom: Market Size By Organization Size, 2017–2024 (USD Million)
Table 48 Germany: Market Size By Component, 2017–2024 (USD Million)
Table 49 Germany: Market Size By Organization Size, 2017–2024 (USD Million)
Table 50 France: Market Size By Component, 2017–2024 (USD Million)
Table 51 France: Market Size By Organization Size, 2017–2024 (USD Million)
Table 52 Italy: Market Size By Component, 2017–2024 (USD Million)
Table 53 Italy: Market Size By Organization Size, 2017–2024 (USD Million)
Table 54 Spain: Cloud IT Service Management Market Size, By Component, 2017–2024 (USD Million)
Table 55 Spain: Market Size By Organization Size, 2017–2024 (USD Million)
Table 56 Rest of Europe: Cloud ITSM Market Size, By Component, 2017–2024 (USD Million)
Table 57 Rest of Europe: Market Size By Organization Size, 2017–2024 (USD Million)
Table 58 Asia Pacific: Cloud IT Service Management Market Size, By Component, 2017–2024 (USD Million)
Table 59 Asia Pacific: Market Size By Solution, 2017–2024 (USD Million)
Table 60 Asia Pacific: Market Size By Service, 2017–2024 (USD Million)
Table 61 Asia Pacific: Market Size By Organization Size, 2017–2024 (USD Million)
Table 62 Asia Pacific: Market Size By Vertical, 2017–2024 (USD Million)
Table 63 Asia Pacific: Market Size By Country, 2017–2024 (USD Million)
Table 64 China: Cloud IT Service Management Market Size, By Component, 2017–2024 (USD Million)
Table 65 China: Market Size By Organization Size, 2017–2024 (USD Million)
Table 66 Japan: Market Size By Component, 2017–2024 (USD Million)
Table 67 Japan: Market Size By Organization Size, 2017–2024 (USD Million)
Table 68 Australia: Cloud ITSM Market Size, By Component, 2017–2024 (USD Million)
Table 69 Australia: Market Size By Organization Size, 2017–2024 (USD Million)
Table 70 Singapore: Market Size By Component, 2017–2024 (USD Million)
Table 71 Singapore: Market Size By Organization Size, 2017–2024 (USD Million)
Table 72 India: Cloud IT Service Management Market Size, By Component, 2017–2024 (USD Million)
Table 73 India: Market Size By Organization Size, 2017–2024 (USD Million)
Table 74 Rest of Asia Pacific: Cloud ITSM Market Size, By Component, 2017–2024 (USD Million)
Table 75 Rest of Asia Pacific: Market Size By Organization Size, 2017–2024 (USD Million)
Table 76 Middle East and Africa: Cloud IT Service Management Market Size, By Component, 2017–2024 (USD Million)
Table 77 Middle East and Africa: Market Size By Solution, 2017–2024 (USD Million)
Table 78 Middle East and Africa: Market Size By Service, 2017–2024 (USD Million)
Table 79 Middle East and Africa: Market Size By Organization Size, 2017–2024 (USD Million)
Table 80 Middle East and Africa: Market Size By Vertical, 2017–2024 (USD Million)
Table 81 Middle East and Africa: Market Size By Country, 2017–2024 (USD Million)
Table 82 Saudi Arabia: Cloud ITSM Market Size, By Component, 2017–2024 (USD Million)
Table 83 Saudi Arabia: Market Size By Organization Size, 2017–2024 (USD Million)
Table 84 United Arab Emirates: Market Size By Component, 2017–2024 (USD Million)
Table 85 United Arab Emirates: Market Size By Organization Size, 2017–2024 (USD Million)
Table 86 Qatar: Cloud IT Service Management Market Size, By Component, 2017–2024 (USD Million)
Table 87 Qatar: Market Size By Organization Size, 2017–2024 (USD Million)
Table 88 South Africa: Cloud ITSM Market Size, By Component, 2017–2024 (USD Million)
Table 89 South Africa: Market Size By Organization Size, 2017–2024 (USD Million)
Table 90 Rest of Middle East and Africa: Cloud IT Service Management Market Size, By Component, 2017–2024 (USD Million)
Table 91 Rest of Middle East and Africa: Market Size By Organization Size, 2017–2024 (USD Million)
Table 92 Latin America: Cloud ITSM Market Size, By Component, 2017–2024 (USD Million)
Table 93 Latin America: Market Size By Solution, 2017–2024 (USD Million)
Table 94 Latin America: Market Size By Service, 2017–2024 (USD Million)
Table 95 Latin America: Market Size By Organization Size, 2017–2024 (USD Million)
Table 96 Latin America: Market Size By Vertical, 2017–2024 (USD Million)
Table 97 Latin America: Market Size By Country, 2017–2024 (USD Million)
Table 98 Brazil: Cloud IT Service Management Market Size, By Component, 2017–2024 (USD Million)
Table 99 Brazil: Market Size By Organization Size, 2017–2024 (USD Million)
Table 100 Mexico: Market Size By Component, 2017–2024 (USD Million)
Table 101 Mexico: Market Size By Organization Size, 2017–2024 (USD Million)
Table 102 Rest of Latin America: Cloud ITSM Market Size, By Component, 2017–2024 (USD Million)
Table 103 Rest of Latin America: Market Size By Organization Size, 2017–2024 (USD Million)
Table 104 New Product Launches, 2018–2019
Table 105 Partnerships, 2019
Table 106 Acquisitions, 2018
Table 107 Expansions, 2018–2019


List of Figures (37 Figures)

Figure 1 Global Cloud ITSM Market: Research Design
Figure 2 Cloud IT Service Management Market: Top-Down and Bottom-Up Approaches
Figure 3 Cloud ITSM Market Snapshot, 2017–2024
Figure 4 Cloud ITSM Segments With the Highest Growth Rates During the Forecast Period
Figure 5 Solutions Segment to Account for A Larger Market Size During the Forecast Period
Figure 6 Operations and Performance Management Segment to Hold the Largest Market Size Among Solutions During the Forecast Period
Figure 7 Large Enterprises Segment to Hold A Larger Market Size During the Forecast Period
Figure 8 IT and ITeS Segment to have the Largest Market Size Among Verticals By 2024
Figure 9 North America to Account for the Largest Market Share in 2019
Figure 10 Focus on Improving Customer Experience and Simplifying IT Operations Workflow to Drive the Adoption of Cloud IT Service Management Market
Figure 11 Solutions Segment to Account for A Higher Market Share During the Forecast Period
Figure 12 Operations and Performance Management Segment to Account for the Highest Market Share During the Forecast Period
Figure 13 Large Enterprises Segment to Account for A Higher Market Share During the Forecast Period
Figure 14 Banking, Financial Services, and Insurance Segment to have One of the Highest Market Shares Among Verticals During the Forecast Period
Figure 15 Asia Pacific to Emerge as the Best Market for Investments in the Next 5 Years
Figure 16 Drivers, Restraints, Opportunities, and Challenges: Cloud ITSM Market
Figure 17 Services Segment to Grow at A Higher Rate During the Forecast Period
Figure 18 Service Desk Software Segment to Grow at the Highest Rate During the Forecast Period
Figure 19 Managed Services Segment to Grow at A Higher Rate During the Forecast Period
Figure 20 Small and Medium-Sized Enterprises Segment to Grow at A Higher Rate During the Forecast Period
Figure 21 Retail and Consumer Goods Vertical to Grow at the Highest Rate During the Forecast Period
Figure 22 Asia Pacific to Grow at the Highest Rate During the Forecast Period
Figure 23 North America: Market Snapshot
Figure 24 Asia Pacific: Market Snapshot
Figure 25 Key Developments By Leading Players in the Cloud ITSM Market During 2017–2019
Figure 26 Global Cloud ITSM Market (Global) Competitive Leadership Mapping, 2019
Figure 27 Servicenow: Company Snapshot
Figure 28 Servicenow: SWOT Analysis
Figure 29 BMC Software: SWOT Analysis
Figure 30 Cherwell Software: SWOT Analysis
Figure 31 CA Technologies: Company Snapshot
Figure 32 CA Technologies: SWOT Analysis
Figure 33 HPE: Company Snapshot
Figure 34 HPE: SWOT Analysis
Figure 35 IBM: Company Snapshot
Figure 36 IBM: SWOT Analysis
Figure 37 Citrix Systems: Company Snapshot

The study consists of four major activities to estimate the current market size of the Cloud ITSM market. Exhaustive secondary research was done to collect information on the market, the peer market, and the parent market. The next step was to validate these findings, assumptions, and sizing with the industry experts across the value chain through primary research. Both the top-down and bottom-up approaches were employed to estimate the complete market size. After that, the market breakup and data triangulation procedures were used to estimate the market size of the segments andsub-segments of the cloud IT Service Management Market.

Secondary Research

In the secondary research process, various secondary sources, such as D&B Hoovers and Bloomberg BusinessWee, have been referred to for identifying and collecting information for this study. Secondary sources included annual reports; press releases and investor presentations of companies; white papers, certified publications, and articles by recognized authors; gold standard and silver standard websites; regulatory bodies; and databases.

Primary Research

Various primary sources from both the supply and demand sides of the cloud ITSM market were interviewed to obtain qualitative and quantitative information for this study. The primary sources from the supply side included industry experts, such as Chief Executive Officers (CEOs), Vice Presidents (VPs), marketing directors, technology and innovation directors, and related key executives from various vendors who provide the cloud ITSM solutions and associated service providers operating in the targeted regions. All possible parameters that affect the market covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.

The following is the breakup of the primary respondents’ profiles:

Cloud-Based ITSM Market

To know about the assumptions considered for the study, download the pdf brochure

Cloud ITSM Market Size Estimation

For making market estimates and forecasting the cloud ITSM market and the other dependent submarkets, the top-down and bottom-up approaches were used. The bottom-up procedure was used to arrive at the overall market size of the global Cloud IT Service Management Market using key companies’ revenue and their offerings in the market. The research methodology used to estimate the market size includes the following:

  • The key players in the market have been identified through extensive secondary research.
  • The market size, in terms of value, has been determined through primary and secondary research processes.
  • All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources.

Data Triangulation

With data triangulation and validation through primary interviews, the exact value of the overall parent market size was determined and confirmed using this study. The overall market size was then used in the top-down procedure to estimate the size of other individual markets via percentage splits of the market segmentation.

Report Objectives

  • To define, describe, and forecast the size of the cloud ITSM market by components (solutions [service portfolio management; configuration and change management; service desk software; operations and performance management; and dashboard reporting and analytics] and services [professional services and managed services]), organization size (SMEs and large enterprises), vertical (IT and telecommunication, healthcare and life sciences, retail and consumer goods, manufacturing, BFSI, media and entertainment, government and public, travel and hospitality, and others [education, and energy and utilities]), and region (North America, Asia Pacific [APAC], Europe, Latin America, and Middle East and Africa [MEA]).
  • To provide detailed information about the major factors (drivers, restraints, opportunities, and challenges) influencing the growth of the  Cloud IT Service Management Market.
  • To strategically analyze the micromarkets with respect to individual growth trends, prospects, and contributions to the overall market
  • To study the complete value chain of the cloud ITSM market
  • To analyze opportunities in the market for stakeholders by identifying the high-growth segments of the cloud ITSM ecosystem
  • To strategically profile key players and comprehensively analyze their market position in terms of ranking and core competencies, along with detailing competitive landscape for market leaders
  • To analyze strategic approaches, such as product/solution/service launches, acquisitions, contracts, agreements, and partnerships, in the  Cloud IT Service Management Market.

Available Customizations

With the given market data, MarketsandMarkets offers customizations as per the company’s specific needs. The following customization options are available for the report:

Product Analysis

  • Product matrix provides a detailed comparison of the product portfolio of each company

Geographic Analysis

  • Further breakup of the North American cloud ITSM market
  • Further breakup of the European market
  • Further breakup of the APAC market
  • Further breakup of the MEA market
  • Further breakup of the Latin American  Cloud IT Service Management Market

Company Information

  • Detailed analysis and profiling of additional market players up to 5

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Related Technologies/Products

 

Adjacent Markets

Mar. Size
2018
CAGR 2018-23

Competitive Landscape

 
 
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Report Code
TC 4348
Published ON
Sep, 2019
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