DUBLIN--(BUSINESS WIRE)--The "Cloud ITSM Market by Component, Organization Size, and Industry Vertical: Global Opportunity Analysis and Industry Forecast, 2018-2026" report has been added to ResearchAndMarkets.com's offering.
According to this report the global cloud IT service management (ITSM) market size was valued at $4.32 billion in 2018, and is projected to reach $15.66 billion by 2026, registering a CAGR of 17.4% from 2019 to 2026.
The increase in the adoption of cloud-based technologies and integration of AI-Enabled tools with ITSM solutions are the key factors that drive the market growth for cloud ITSM industry. However, security and privacy concerns for confidential data and business processes restrain the growth of the cloud IT service management (ITSM) market. Furthermore, widespread adoption of BYOD trend, increase in mobile workforce, and surge in demand among small & medium enterprises are the factors anticipated to provide lucrative opportunities for the market growth in the forthcoming years
In terms of industry vertical, the IT & telecommunication segment is expected to witness high adoption of cloud ITSM solutions and services Among these, IT & telecommunication is expected to have the largest market size during the forecast period due to the increase in the adoption of ITSM solution because of its numerous benefits such as reduced operating costs, increased revenues, infrastructure sharing, and others. However, the retail segment is expected to witness highest growth rate in the upcoming years due to the increase in need to streamline business operations and supply chains by supporting and refocusing on IT resources.
By region, North America dominated the global cloud IT service management (ITSM) market in 2018 and is expected to remain dominant during the forecast period due to the presence of major market players and rise in investment & spending on cloud technologies. In addition, increase in focus on automation and end-user services boosts the adoption of cloud ITSM solutions and services in North America.
According to Rachita Rake, Research Analyst, ICT According to the cloud ITSM market analysis in Asia-Pacific, the market is projected to generate the highest growth rate during the forecast period, owing to increase in number of startups and adoption of artificial intelligence (AI) technologies, such as machine learning, image processing, and others.
- The report provides an in-depth analysis of the global cloud ITSM market, outlining current trends, key driving factors, and potential areas for product investments.
- Key players are analyzed with respect to their primary offerings, recent investments, and future development strategies.
- Porter's five forces analysis illustrates the potency of buyers and suppliers operating in the industry.
- The quantitative analysis of the global cloud ITSM market from 2018 to 2026 is provided to determine the market potential.
Key Market Players
- Axios Systems
- BMC Software
- CA Technologies
- Citrix Systems
- Hewlett Packard Enterprise
- International Business Machines Corporation
- Micro Focus
- Microsoft Corporation
Key Findings of The Study
- By component, the solutions segment dominated the global cloud ITSM market in 2018 and is expected to generate highest revenue during the forecast period.
- On the basis of organization size, the large organizations segment dominated the market in 2018 and is expected to remain dominant throughout the forecast period.
- In terms of industry vertical, the retail segment dominated the market in 2018 and is expected to generate highest revenue during the cloud IT service management market forecast period.
Key Topics Covered:
2. Executive Summary
3. Market Overview
3.1. Market Definition And Scope
3.2. Key Forces Shaping Global Cloud Itsm Market
3.3. Market Evolution/Industry Roadmap
3.4. Case Studies
3.4.1. Goodman Manufacturing Company, L.P.
3.4.2. Khan Bank
3.5. Market Dynamics
126.96.36.199. the increase in the adoption of Cloud-Based Technologies
188.8.131.52. Integration of Ai-Enabled Tools With Itsm Solutions
184.108.40.206. Security And Privacy Concerns For Confidential Data And Business Processes
220.127.116.11. Widespread Adoption of Byod Trend And Increasing Mobile Workforce
18.104.22.168. Growing Demand Among Smes
4. Cloud Itsm Market, By Component
5. Cloud Itsm Market, By Organization Size
5.2. Large Organizations
5.3. Small And Medium Organizations
6. Cloud Itsm Market, By Industry Vertical
6.2. It & Telecommunication
7. Global Cloud Itsm Market, By Region
7.2. North America
8. Competitive Landscape
8.1. Key Player Positioning
8.2. Top Winning Strategies
8.3. Competitive Dashboard
8.4. Key Developments
8.4.3. Product Development
9. Company Profile
For more information about this report visit https://www.researchandmarkets.com/r/zegm2d