IT Operations and Service Management (ITOSM)

IT Operations and Service Management (ITOSM)

Global IT Operations and Service Management (ITOSM) Market to Reach US$40.6 Billion by 2030

The global market for IT Operations and Service Management (ITOSM) estimated at US$28.7 Billion in the year 2023, is expected to reach US$40.6 Billion by 2030, growing at a CAGR of 5.1% over the analysis period 2023-2030. Configuration Automation and Discovery, one of the segments analyzed in the report, is expected to record a 4.2% CAGR and reach US$11.1 Billion by the end of the analysis period. Growth in the Event Management segment is estimated at 4.5% CAGR over the analysis period.

The U.S. Market is Estimated at US$7.8 Billion While China is Forecast to Grow at 4.8% CAGR

The IT Operations and Service Management (ITOSM) market in the U.S. is estimated at US$7.8 Billion in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$6.4 Billion by the year 2030 trailing a CAGR of 4.8% over the analysis period 2023-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 4.6% and 4.2% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 4.2% CAGR.

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 STUDY:

The report analyzes the IT Operations and Service Management (ITOSM) market in terms of US$ Million by the following Industry Vertical; Type, and Geographic Regions/Countries:

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.

Select Competitors (Total 147 Featured) -

• ASG Technologies Group, Inc.
• BMC Software, Inc.
• CA Technologies, Inc.
• Cherwell Software, LLC
• Compuware Corporation
• HP, Inc.
• IBM Corporation
• Ivanti
• Oracle Corporation
• ServiceNow, Inc.

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