Global Cloud-Based ITSM Market 2023-2027

Global Cloud-Based ITSM Market 2023-2027

Technavio has been monitoring the cloud-based ITSM market and is forecast to grow by $6094.37 mn during 2022-2027, accelerating at a CAGR of 15.08% during the forecast period. Our report on the cloud-based ITSM market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.

The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The market is driven by low overhead costs, scalability, and easy usage of cloud-based ITSM solutions, increasing adoption of cloud-based technologies in SMEs, and growing need for control and accountability.

Technavio's cloud-based ITSM market is segmented as below:

By Component

• Solutions
• Services

By End-user

• IT and telecom
• Retail and consumer goods
• BFSI
• Healthcare and life sciences
• Others

By Geography

• North America
• Europe
• APAC
• South America
• Middle East and Africa

This study identifies the growing digitalization of businesses as one of the prime reasons driving the cloud-based ITSM market growth during the next few years. Also, growing adoption of remote working model and advent of advanced technologies will lead to sizable demand in the market.

Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters. Our report on the cloud-based ITSM market covers the following areas:

• Cloud-based ITSM market sizing
• Cloud-based ITSM market forecast
• Cloud-based ITSM market industry analysis

Technavio's robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading cloud-based ITSM market vendors that include Alemba Ltd., Atlassian Corp. Plc, BMC Software Inc., Broadcom Inc., Citrix Systems Inc., EasyVista SA, Efecte Oyj, Freshworks Inc., Hewlett Packard Enterprise Co., Hornbill Corporate Ltd., International Business Machines Corp., ITarian LLC, Ivanti Software Inc., Micro Focus International Plc, Microsoft Corp., OPGK RZESZOW S.A., ServiceNow Inc., SymphonyAI Summit, SysAid Technologies Ltd, and Zoho Corp. Pvt. Ltd. Also, the cloud-based ITSM market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.

Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. Technavio's market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast accurate market growth.