The global market for IT Operations and Service Management (ITOSM) was estimated at US$28.7 Billion in 2023 and is projected to reach US$40.6 Billion by 2030, growing at a CAGR of 5.1% from 2023 to 2030. This comprehensive report provides an in-depth analysis of market trends, drivers, and forecasts, helping you make informed business decisions.
Global IT Operations and Service Management (ITOSM) Market - Key Trends & Drivers Summarized
How Are ITOSM Solutions Transforming IT Service Delivery?
IT Operations and Service Management (ITOSM) solutions are critical for managing the delivery and performance of IT services within organizations. These solutions streamline IT processes, from incident management to service delivery, providing companies with a centralized approach to monitoring and optimizing their IT infrastructure. ITOSM software enhances productivity by enabling IT teams to resolve issues faster, manage service requests more efficiently, and ensure uninterrupted business operations. As companies increasingly depend on digital platforms and technology, ITOSM solutions have become essential for maintaining robust, reliable, and responsive IT services.How Are Automation and AI Impacting ITOSM Solutions?
Automation and artificial intelligence (AI) are revolutionizing ITOSM by enabling predictive maintenance, self-service options, and faster incident resolution. Automated workflows reduce manual intervention, allowing IT teams to focus on complex tasks while routine processes are handled by AI-driven systems. Predictive analytics help anticipate potential disruptions, minimizing downtime and enhancing service reliability. AI-powered chatbots and self-service portals empower employees to resolve minor issues independently, reducing the load on IT support teams. These advancements are making ITOSM solutions more efficient and responsive to the evolving needs of businesses.What Role Do Remote Work Trends Play in ITOSM Market Growth?
The rise of remote work has intensified the need for robust ITOSM solutions, as companies support distributed workforces that rely on seamless access to IT services. Managing and maintaining IT services remotely poses unique challenges, which ITOSM solutions address by enabling remote monitoring, support, and service delivery. Cloud-based ITOSM platforms have gained popularity for their scalability and accessibility, allowing IT teams to manage operations from anywhere. As remote and hybrid work arrangements become more common, demand for comprehensive ITOSM solutions continues to grow, ensuring IT departments can meet service demands across various locations.The Growth in the ITOSM Market Is Driven by Several Factors
The growth in the ITOSM market is driven by several factors, including the shift toward remote work, the demand for automation in IT service delivery, and advancements in AI technology. As companies support distributed teams, ITOSM solutions are essential for ensuring consistent service levels and operational efficiency. Automation and AI-driven features are also enhancing the functionality of ITOSM platforms, enabling proactive maintenance and efficient incident management. Additionally, the growing reliance on digital services and infrastructure is driving demand for ITOSM solutions that can maintain high performance and reliability across complex IT environments.Scope of the Study
The report analyzes the IT Operations and Service Management (ITOSM) market, presented in terms of market value (US$ Million). The analysis covers the key segments and geographic regions outlined below.Segments
Industry Vertical (Banking, Financial Services & Insurance (BFSI), Telecom and IT, Government, Healthcare/Medical/Pharmaceutical, Aerospace & Defense, Other Industry Verticals); Type (Configuration Automation and Discovery, Event Management, Cloud Management, Workload and IT Automation)Geographic Regions/Countries
World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; and Rest of Europe); Asia-Pacific; Rest of World.Key Insights:
- Market Growth: Understand the significant growth trajectory of the Configuration Automation and Discovery segment, which is expected to reach US$11.1 Billion by 2030 with a CAGR of a 4.2%. The Event Management segment is also set to grow at 4.5% CAGR over the analysis period.
- Regional Analysis: Gain insights into the U.S. market, estimated at $7.8 Billion in 2023, and China, forecasted to grow at an impressive 4.8% CAGR to reach $6.4 Billion by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and the Asia-Pacific.
Why You Should Buy This Report:
- Detailed Market Analysis: Access a thorough analysis of the Global IT Operations and Service Management (ITOSM) Market, covering all major geographic regions and market segments.
- Competitive Insights: Get an overview of the competitive landscape, including the market presence of major players across different geographies.
- Future Trends and Drivers: Understand the key trends and drivers shaping the future of the Global IT Operations and Service Management (ITOSM) Market.
- Actionable Insights: Benefit from actionable insights that can help you identify new revenue opportunities and make strategic business decisions.
Key Questions Answered:
- How is the Global IT Operations and Service Management (ITOSM) Market expected to evolve by 2030?
- What are the main drivers and restraints affecting the market?
- Which market segments will grow the most over the forecast period?
- How will market shares for different regions and segments change by 2030?
- Who are the leading players in the market, and what are their prospects?
Report Features:
- Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2023 to 2030.
- In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
- Company Profiles: Coverage of major players in the Global IT Operations and Service Management (ITOSM) Market such as ASG Technologies Group, Inc., BMC Software, Inc., CA Technologies, Inc., Cherwell Software, LLC, Compuware Corporation and more.
- Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.
Some of the 147 companies featured in this Global IT Operations and Service Management (ITOSM) Market report include:
- ASG Technologies Group, Inc.
- BMC Software, Inc.
- CA Technologies, Inc.
- Cherwell Software, LLC
- Compuware Corporation
- HP, Inc.
- IBM Corporation
- Ivanti
- Oracle Corporation
- ServiceNow, Inc.
Table of Contents
I. METHODOLOGYII. EXECUTIVE SUMMARY2. FOCUS ON SELECT PLAYERSIII. MARKET ANALYSISCANADAITALYREST OF EUROPEREST OF WORLDIV. COMPETITION
1. MARKET OVERVIEW
3. MARKET TRENDS & DRIVERS
4. GLOBAL MARKET PERSPECTIVE
UNITED STATES
JAPAN
CHINA
EUROPE
FRANCE
GERMANY
UNITED KINGDOM
ASIA-PACIFIC
Companies Mentioned
- ASG Technologies Group, Inc.
- BMC Software, Inc.
- CA Technologies, Inc.
- Cherwell Software, LLC
- Compuware Corporation
- HP, Inc.
- IBM Corporation
- Ivanti
- Oracle Corporation
- ServiceNow, Inc.
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 247 |
| Published | November 2024 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value ( USD | $ 28.7 Billion |
| Forecasted Market Value ( USD | $ 40.6 Billion |
| Compound Annual Growth Rate | 5.1% |
| Regions Covered | Global |
| No. of Companies Mentioned | 10 |
