ServiceNow Business Market by Services (Customer Service Management, HR Service Delivery, IT Business Management), End-User (Financial Services, Government, Healthcare) - Global Forecast 2024-2030

ServiceNow Business Market by Services (Customer Service Management, HR Service Delivery, IT Business Management), End-User (Financial Services, Government, Healthcare) - Global Forecast 2024-2030

The ServiceNow Business Market size was estimated at USD 32.36 billion in 2023 and expected to reach USD 36.85 billion in 2024, at a CAGR 14.20% to reach USD 82.01 billion by 2030.

ServiceNow businesses offer a comprehensive suite of solutions to enhance customer experience, improve process efficiency, and drive operational performance. It enables organizations to effectively manage their daily operations and customer interactions using automation, security, and scalability. The cloud-based applications included in ServiceNow Services cover service management, workflow automation, asset tracking, data visualization, and system integrations. The need for ServiceNow platforms is increasing as organizations recognize the value of digital transformation across various business functions. By leveraging ServiceNow services, organizations streamline their processes, gain valuable insights, achieve a unified platform for efficient operations, and empower organizations to deliver exceptional service and optimize their overall performance. However, organizations face challenges due to complex customization requirements or a lack of internal expertise when implementing ServiceNow. In addition, end-users also pose issues related to data security and compliance. Organizations are emphasizing enhancing customer services and experiences, driving the adoption of ServiceNow to improve customer satisfaction and loyalty. Additionally, ServiceNow platforms are backed by robust integration capabilities, allowing seamless connectivity with other systems and applications. Organizations are increasingly investing in ServiceNow platform innovation to stay ahead of evolving business needs, leveraging advancements in user experience, automation, AI integration, and data analytics.

Regional Insights

ServiceNow business has observed a large customer base across the Americas, driven by the exponential technological advancements in the IT, finance, healthcare, and government sectors. The market has witnessed several collaborations with a vast network of partners, including U.S. and Canadian consulting firms, system integrators, and managed service providers. The Asia-Pacific also has the presence of a rising number of partners who are serving ServiceNow solutions for enterprises meeting digital transformation initiatives. The business has made significant investments in expanding operations, sales, and partnerships across India, China, Japan, South Korea, Thailand, and Australia for catering to small and medium enterprises. Many well-known organizations have formed alliances with ServiceNow solutions, providing industry-specific solutions and frameworks addressing the requirements of different sectors. The European region has raised strict guidelines regarding the security of the users of ServiceNow, which has encouraged the introduction of compliant solutions. The business has been working towards considering legal, technical, and organizational safeguards to offer customers products that meet their compliance obligations.

Market Insights

Market Dynamics

The market dynamics represent an ever-changing landscape of the ServiceNow Business Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.

Market Drivers

• Increasing need for ServiceNow platforms as a digital transformation strategy for varied business functions
• Growing demand for streamlined IT service & operation management
• Rising focus on improving customer services and experiences

Market Restraints

• Complexities associated with the integration of the ServiceNow platform with existing systems

Market Opportunities

• Ongoing development and expansion of the ServiceNow platforms
• Growing emphasis on employee experience and HR service delivery

Market Challenges

• Issues associated with the data security and compliance measures

Market Segmentation Analysis

• Services: Increasing demand for ServiceNow business for IT service management
• End-User: Expanding the application of ServiceNow business in financial services

Market Disruption Analysis

• Porter’s Five Forces Analysis
• Value Chain & Critical Path Analysis
• Pricing Analysis
• Technology Analysis
• Patent Analysis
• Trade Analysis
• Regulatory Framework Analysis

FPNV Positioning Matrix

The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the ServiceNow Business Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the ServiceNow Business Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Recent Developments

Globant Launches ServiceNow Studio to Help Companies Deliver Digital Experiences of the Future for Employees, Customers, and Partners

Globant, a technology solutions provider focused on assisting customers in reinventing their businesses, unveiled the ServiceNow Studio. This studio aims to empower clients to fully leverage the capabilities of the ServiceNow platform, enabling them to enhance efficiency, agility, and innovation across various domains, including IT, HR, customer experience, and creativity.

ServiceNow, NVIDIA, and Accenture Team to Accelerate Generative AI Adoption for Enterprises

ServiceNow, NVIDIA, and Accenture partnered to launch AI Lighthouse, an innovative program aimed at accelerating the development and utilization of generative AI for enterprises. This program leverages the strategic collaborations between these three entities to provide assistance to customers across various industries in designing, developing, and implementing custom generative AI large language models (LLMs) and applications. By combining ServiceNow's enterprise automation platform and engine, NVIDIA's AI supercomputing and software capabilities, and Accenture's AI transformation services, a comprehensive offering is created for customers.

ServiceNow unveils transformative innovations at Knowledge 2023

ServiceNow introduced new innovations to its Now Platform. These innovations aim to assist businesses in streamlining their processes effectively. Notable enhancements include the introduction of new Finance and Supply Chain Workflows, AI solutions that build upon existing AI functionality, and an AI-powered employee skills development solution. The primary goals of these innovations are to enhance cost efficiency, increase productivity, advance talent development, and expand the platform's reach across various personas and industries.

Strategy Analysis & Recommendation

The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the ServiceNow Business Market. This critical assessment involves a thorough analysis of the organization’s resources, capabilities, and overall performance to identify its core strengths and areas for improvement.

Key Company Profiles

The report delves into recent significant developments in the ServiceNow Business Market, highlighting leading vendors and their innovative profiles. These include Accenture PLC, Atos SE, Birlasoft, Capgemini SE, Cask LLC, CDW LLC., CGI Group Inc, Cognizant Technology Solutions Corporation, Deloitte Touche Tohmatsu Limited, DXC Technology Company, Ernst & Young Global Limited, Fujitsu Limited, GlideFast Consulting LLC, HCL Technologies Ltd, Hexaware Technologies Limited., Hitachi, Ltd., Infosys Limited, International Business Machines Corporation, KPMG International Limited, LTIMindtree Limited, Nagarro Software Pvt. Ltd., NTT DATA Corporation, ServiceNow, Inc., T-Systems International GmbH, Tech Mahindra Limited., TEKsystems Global Services, LLC, Unisys Corporation, Virtusa Corporation, Wipro Limited, and World Wide Technology.

Market Segmentation & Coverage

This research report categorizes the ServiceNow Business Market to forecast the revenues and analyze trends in each of the following sub-markets:

Services

Customer Service Management

HR Service Delivery

IT Business Management

IT Operations Management

IT Service Management

Security Operations

End-User

Financial Services

Government

Healthcare

Manufacturing

Telecommunication

Region

• Americas
• Argentina
• Brazil
• Canada
• Mexico
• United States
• California
• Florida
• Illinois
• New York
• Ohio
• Pennsylvania
• Texas
• Asia-Pacific
• Australia
• China
• India
• Indonesia
• Japan
• Malaysia
• Philippines
• Singapore
• South Korea
• Taiwan
• Thailand
• Vietnam
• Europe, Middle East & Africa
• Denmark
• Egypt
• Finland
• France
• Germany
• Israel
• Italy
• Netherlands
• Nigeria
• Norway
• Poland
• Qatar
• Russia
• Saudi Arabia
• South Africa
• Spain
• Sweden
• Switzerland
• Turkey
• United Arab Emirates
• United Kingdom

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