Global IT Service Management (ITSM) Software Market Research Report 2024-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2030

Global IT Service Management (ITSM) Software Market Research Report 2024-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2030

IT Service Management (ITSM) Tools enable IT operations organizations, specifically infrastructure and operations (I&O) managers, to better support the production environment. ITSM tools facilitate the tasks and workflows associated with the management and delivery of quality IT services. These are most heavily used by IT service desks and IT service delivery functions. Some non-I&O departments (such as HR or facilities) adapt generic ticket handling and workflow capabilities for their own use.

Market Overview:

The latest research study on the global IT Service Management (ITSM) Software market finds that the global IT Service Management (ITSM) Software market reached a value of USD 9473.39 million in 2023. It’s expected that the market will achieve USD 25677.71 million by 2029, exhibiting a CAGR of 18.08% during the forecast period.

IT Service Management (ITSM) The upstream of the Software industry chain includes the development of general software and the manufacturing of related hardware. Among them, software development mainly includes operating systems, databases, middleware and development tools, etc. Hardware equipment mainly includes servers, storage systems, etc. A major IT Service Management (ITSM) Software supplier in the midstream of the industry, responsible for product development, operations and sales. Downstream customers in the IT Service Management (ITSM) Software industry are mainly enterprises, which are divided into small and medium-sized enterprises and large enterprises according to size. According to end users, they can be divided into enterprises in BFSI, IT & Telecommunication and Retail & Consumer Goods industries.

The mobile workforce facilitates market growth.

Modern occupations have greater flexibility, and the BYOD (Bring Your Own Device) trend continues to be deployed. The mobile workforce continues to grow. Mobile working differs from traditional remote work, in which employees work from a home office. A mobile workforce refers specifically to those employees who do not work in a single fixed location. This includes hybrid workers who split their time between home and the office, as well as desk-less workers who need to work mobile during the workday. Traveling nurses, retail employees who rotate between stores, and telecom field technicians are all mobile workers.

Cyber security threats affect the use of products in the enterprise.

Security and privacy are paramount when it comes to the operations of any business. Protecting data that is vulnerable to misappropriation and disclosure is imperative. Businesses are often sensitive when discussing lines of communication, as this can directly affect the confidentiality of company data. With the advancement of network security technology, some network threats have subsided year by year, while some network threats are major challenges to network security. Includes ransomware, cloud third-party threats, mobile malware, wiper, and destructive malware, weaponization of legitimate tools, zero-day vulnerabilities in the supply chain (discovered but not fixed, such as resource availability, security visibility, and prioritization), and Global Business Attacks. Cybersecurity is becoming increasingly complex as IT infrastructure expands and cyber threat actors develop and deploy new attack techniques. Rising cybersecurity threats and security concerns over confidential data and business processes are restraining the growth of the industry.

Region Overview:

In 2022, the share of the IT Service Management (ITSM) Software market in North America stood at 47.67%.

North Americais projected to account for a considerable share of the IT Service Management (ITSM) Software market and is expected to become the largest region by 2028.

Company Overview:

Atlassian is one of the major players operating in the IT Service Management (ITSM) Software market, holding a share of 17.00% in 2023.

The major players operating in the IT Service Management (ITSM) Software market include ServiceNow, Atlassian, Freshworks, LogMeIn, Inc.(Go To) and BMC Software, etc. Among which, ServiceNow ranked top in terms of sales and revenue in 2023.

Segmentation Overview:

Among different product types,Cloud-Based segment is anticipated to contribute the largest market share in 2028.

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

Application Overview:

By application, the Large Enterprises segment occupied the biggest share from 2018 to 2022.

The market's largest segment by application is the segment Large Enterprises, with a market share of 77.88% in 2022.

Key Companies in the global IT Service Management (ITSM) Software market covered in Chapter 3:

HP
BMC Software
Rocket Software(ASG)
Microsoft
Atlassian
Ivanti
Broadcom
LogMeIn, Inc.(Go To)
Freshworks
IBM
SolarWinds
ServiceNow

In Chapter 4 and Chapter 14.2, on the basis of types, the IT Service Management (ITSM) Software market from 2019 to 2030 is primarily split into:

On-premises
Cloud-Based

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the IT Service Management (ITSM) Software market from 2019 to 2030 covers:

Small and Medium Enterprises (SMEs)
Large Enterprises

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2019-2030) 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)