Global ITSM Software Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global ITSM Software Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

IT Service Management (ITSM) is a process-based practice that mainly deliver satisfactory service to the end user customer. It is intended to align the delivery of information technology (IT) services with needs of the enterprise, emphasizing benefits to customers.

Market Overview:

The latest research study on the global ITSM Software market finds that the global ITSM Software market reached a value of USD 8254.85 million in 2022. It’s expected that the market will achieve USD 22770.0 million by 2028, exhibiting a CAGR of 18.42% during the forecast period.

Good to meet the needs of the enterprise

For an enterprise, the IT environment exists to support the business. As the business evolves, enterprise users will continue to adapt their IT systems to meet the needs of the business, or improve IT systems, or even leverage the latest IT technologies to promote and enhance the business. On the other hand, enterprises also want the cost of IT software to be lower and lower, so they will introduce new technology or operation mode to reduce the cost. As a best practice in IT service management, ITSM software meets the needs of enterprises in both aspects.

The field of artificial intelligence (AI) is evolving into the IT service management (ITSM) software industry

With all the advances in artificial intelligence (AI) and its wide application across disciplines, this new technology is moving into the IT service management (ITSM) software industry. ITSM has seen a number of new technologies, each of which promises to redefine the way things work. Once we can perform behaviors that humans are good at and perform actions that humans are unwilling to perform, AI will begin to have a really big impact on our ITSM industry. These operations fall into three categories: intelligent automation, strategic insight, and predictive analytics. This is an opportunity for the ITSM software industry. If AI technology can be successfully integrated into software, the ITSM software market will be greatly improved.

Region Overview:

In global comparison, a significant portion of the revenue was generated in North America (43.48% in 2022).

Company Overview:

ServiceNow is one of the major players operating in the ITSM Software market, holding a share of 40.23% in 2023.

ServiceNow

ServiceNow is a company that provides enterprise information technology (IT) management software. The company designs, develops and produces pre-packaged computer software, cloud services and IT service management platforms.

Atlassian

Atlassian, Inc. develops application software. The Company offers software for tracking, communication, management, collaboration, and development solutions. Atlassian serves customers worldwide.

Segmentation Overview:

As for product types, the Cloud-Based segment held the largest market share in 2022.

Application Overview:

The market's largest segment by application is the segment Large Enterprises, with a market share of 56.45% in 2022.

Key Companies in the global ITSM Software market covered in Chapter 3:

Microsoft
BMC Software
Atlassian
ASG Technologies
Cherwell Software
IBM
Broadcom
LogMeIn, Inc.
ServiceNow
HP
Ivanti
SolarWinds

In Chapter 4 and Chapter 14.2, on the basis of types, the ITSM Software market from 2018 to 2029 is primarily split into:

On-premises
Cloud-Based

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the ITSM Software market from 2018 to 2029 covers:

Small and Medium Enterprises (SMEs)
Large Enterprises

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)