DUBLIN--(BUSINESS WIRE)--The "Configuration Management Market by System (Software and Application, Storage, and Server), Module (CMDB, Service Catalog, and Service Definition), Component (Solution and Services), Enterprise Size, End-use Vertical, and Region - Global Forecast to 2024" report has been added to ResearchAndMarkets.com's offering.
The Global Configuration Management Market Size is Projected to Grow from USD 1.6 Billion in 2019 to USD 3.3 Billion by 2024, at a CAGR of 15.1% from 2019 to 2024
A significant growth driver for the market is the emergence of digital technologies driving the need for scalable and flexible systems and growing demand for automated management of IT processes.
In end-use vertical segment telecom and ITeS segment to hold a larger market size in 2019
Over the years, there has been increasing awareness of configuration management tools within Telcom and ITeS vertical leading to a higher number of organizations adopting configuration management practices. In order to ensure the effectiveness within operations of IT infrastructures, configuration management is used, which helps in monitoring and maintaining the flow of projects with consideration on technical support required for product delivery.
By component, services segment to register a higher growth rate during the forecast period
There is a rising need for companies to upgrade their systems regularly. As a result, companies are rapidly outsourcing certain activities to specialized service providers known as Managed Service Providers (MSPs). The MSPs offer various managed services, such as server management services, client management services, security management services, and database management services.
Asia Pacific (APAC) to register the highest growth rate during the forecast period
The APAC configuration management market is experiencing disruptive growth, owing to its rapidly growing number of enterprises. The APAC market is witnessing high growth at an exponential rate due to a large number of enterprises in this region. These enterprises have started using change and configuration tools to offer better flexibility, reliability, and scalability as they are adopting digital transformation. The major countries are observing high growth rates in this region which include China, India, Singapore, Australia, and New Zealand.
- Increased Demand for Simplifying and Synchronizing IT Resources to Boost the Adoption of Configuration Management Tools
- Growing Need for Automated Management of IT Processes and Policies to Drive the use of Configuration Management Solutions
- Emergence of Digital Technologies Driving the Need for Scalable and Flexible Systems
- Complexities in Configuring Applications From Different Environments While Maintaining the Optimum Performance
- Potential Combination of Configuration Management Tools With the Devops to Boost the Adoption of Configuration Management Solutions
- Increased Demand for Agile Systems to Foster the Growth of Configuration Management
- Complexities Introduced By Third-Party Integrations, Acquisitions, and Collaborations
- Difficulties in Managing a Large Amount of Configuration Data Collected From Different Environments
- Alibaba Cloud
- BMC Software
- CA Technologies
- Canonical Ltd.
- Micro Focus
- Northern.Tech as
- Octopus Deploy
For more information about this report visit https://www.researchandmarkets.com/r/82nnir