The recent analytical report published by Markntel Advisors (a leading consulting, data analytics, and market research firm), Market comprises a detailed study of critical and major aspects of market dynamics, i.e. market trends, size, forecasts, growth factors, challenges, and competitor landscape.

In-Depth Market Overview of Global IT Service Management (ITSM) Market Industry (2024-2030):

According to the latest report, the Global IT Service Management (ITSM) Market  size was valued at USD 9.98 billion in 2023 and is estimated to grow at a CAGR of around 17% during the forecast period, i.e., 2024-30. The report demonstrates the prominent factors propelling the exponential growth of the Global IT Service Management (ITSM) Market.

Key Takeaways: Beneficial for Stakeholders and Clients

·        Historic Period: 2019-2022

·        Base year: 2023

·        Forecast Years: 2024-2030

·        CAGR (2024-30): 17%

·        Market Value(2023): USD 9.98 Billion

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What are the major Driver the Global IT Service Management (ITSM) Market industry?

Efficient Management & Enforcement of IT Processes & Policies Achieved Through Automation – In today's globalized and highly competitive market, allocating resources to core business functions is essential. This includes rectifying any issues with the IT infrastructure that could disrupt regular operations, a risk no organization can afford to take lightly. Effective service management streamlines tasks like recovering systems or handling network faults, taking the workload off administrators' shoulders, and minimizing downtime for prompt problem resolution. Moreover, while human intervention is initially necessary for developing guidelines & policies around these processes, automation ultimately leads to smoother overall functioning by reducing disruptive incidents, further driving the IT Service Management (ITSM) Market globally.

Global IT Service Management (ITSM) Market Segmentation

The Global IT Service Management (ITSM) Market analysis of MarkNtel Advisors explores the industry by emphasizing the growth parameters and categorizes including geographical segmentation, to offer a comprehensive understanding of the market dynamic. The further bifurcations are as follows:

• By Offering
  • Solutions- Market Size & Forecast 2019-2030, (USD Million)
    • Service Portfolio Management- Market Size & Forecast 2019-2030, (USD Million)
      • Service Catalogue Management- Market Size & Forecast 2019-2030, (USD Million)
      • Service Pipeline Management- Market Size & Forecast 2019-2030, (USD Million)
      • Demand Management- Market Size & Forecast 2019-2030, (USD Million)
      • Others- Market Size & Forecast 2019-2030, (USD Million)
    • Configuration & Change Management- Market Size & Forecast 2019-2030, (USD Million)
      • Configuration Management Database- Market Size & Forecast 2019-2030, (USD Million)
      • Change Control- Market Size & Forecast 2019-2030, (USD Million)
      • Version Control- Market Size & Forecast 2019-2030, (USD Million)
      • Others- Market Size & Forecast 2019-2030, (USD Million)
    • Service Desk Software- Market Size & Forecast 2019-2030, (USD Million)
      • Incident Management- Market Size & Forecast 2019-2030, (USD Million)
      • Problem Management- Market Size & Forecast 2019-2030, (USD Million)
      • Service Request Management- Market Size & Forecast 2019-2030, (USD Million)
      • Knowledge Base- Market Size & Forecast 2019-2030, (USD Million)
      • Others- Market Size & Forecast 2019-2030, (USD Million)
    • Operations & Performance Management- Market Size & Forecast 2019-2030, (USD Million)
      • Performance Monitoring- Market Size & Forecast 2019-2030, (USD Million)
      • Capacity Management- Market Size & Forecast 2019-2030, (USD Million)
      • Event Management- Market Size & Forecast 2019-2030, (USD Million)
      • Others- Market Size & Forecast 2019-2030, (USD Million)
    • Dashboard, Reporting & Analytics- Market Size & Forecast 2019-2030, (USD Million)
  • Services- Market Size & Forecast 2019-2030, (USD Million)
    • Managed Services- Market Size & Forecast 2019-2030, (USD Million)
    • Professional Services- Market Size & Forecast 2019-2030, (USD Million)
      • Consulting- Market Size & Forecast 2019-2030, (USD Million)
      • Integration & Implementation- Market Size & Forecast 2019-2030, (USD Million)
      • Training, Support & Maintenance- Market Size & Forecast 2019-2030, (USD Million)
• By Organization Size
  • Large Enterprises- Market Size & Forecast 2019-2030, (USD Million)
  • SMEs- Market Size & Forecast 2019-2030, (USD Million)
• By Deployment Model
  • On-premises- Market Size & Forecast 2019-2030, (USD Million)
  • Cloud- Market Size & Forecast 2019-2030, (USD Million)
• By Vertical
  • BFSI- Market Size & Forecast 2019-2030, (USD Million)
    • Transaction Processing- Market Size & Forecast 2019-2030, (USD Million)
    • Security Management- Market Size & Forecast 2019-2030, (USD Million)
    • Compliance Management- Market Size & Forecast 2019-2030, (USD Million)
    • Others- Market Size & Forecast 2019-2030, (USD Million)
  • Telecommunications- Market Size & Forecast 2019-2030, (USD Million)
    • Network Management- Market Size & Forecast 2019-2030, (USD Million)
    • Service Provisioning- Market Size & Forecast 2019-2030, (USD Million)
    • Incident Management- Market Size & Forecast 2019-2030, (USD Million)
    • Others- Market Size & Forecast 2019-2030, (USD Million)
  • IT/ITes- Market Size & Forecast 2019-2030, (USD Million)
    • Service Desk Support- Market Size & Forecast 2019-2030, (USD Million)
    • Change Management- Market Size & Forecast 2019-2030, (USD Million)
    • Application Development & Maintenance- Market Size & Forecast 2019-2030, (USD Million)
    • Others- Market Size & Forecast 2019-2030, (USD Million)
  • Government & Public Sector- Market Size & Forecast 2019-2030, (USD Million)
    • eGovernment Services- Market Size & Forecast 2019-2030, (USD Million)
    • IT Infrastructure Management- Market Size & Forecast 2019-2030, (USD Million)
    • Security & Compliance- Market Size & Forecast 2019-2030, (USD Million)
    • Others- Market Size & Forecast 2019-2030, (USD Million)
  • Retail & Consumer Goods- Market Size & Forecast 2019-2030, (USD Million)
    • eCommerce Platform Management- Market Size & Forecast 2019-2030, (USD Million)
    • Inventory Management Systems- Market Size & Forecast 2019-2030, (USD Million)
    • Customer Support- Market Size & Forecast 2019-2030, (USD Million)
    • Others- Market Size & Forecast 2019-2030, (USD Million)
  • Manufacturing- Market Size & Forecast 2019-2030, (USD Million)
    • Manufacturing Execution Systems (MESs)- Market Size & Forecast 2019-2030, (USD Million)
    • Supply Chain Management- Market Size & Forecast 2019-2030, (USD Million)
    • Quality Control Systems- Market Size & Forecast 2019-2030, (USD Million)
    • Others- Market Size & Forecast 2019-2030, (USD Million)
  • Energy & Utilities- Market Size & Forecast 2019-2030, (USD Million)
    • Smart Grid Management- Market Size & Forecast 2019-2030, (USD Million)
    • SCADA Systems- Market Size & Forecast 2019-2030, (USD Million)
    • Asset Management- Market Size & Forecast 2019-2030, (USD Million)
    • Others- Market Size & Forecast 2019-2030, (USD Million)
  • Media & Entertainment- Market Size & Forecast 2019-2030, (USD Million)
    • Content Management Systems (CMSs)- Market Size & Forecast 2019-2030, (USD Million)
    • Digital Rights Management (DRM)- Market Size & Forecast 2019-2030, (USD Million)
    • Broadcasting Systems- Market Size & Forecast 2019-2030, (USD Million)
    • Others- Market Size & Forecast 2019-2030, (USD Million)
  • Healthcare- Market Size & Forecast 2019-2030, (USD Million)
    • Electronic Health Records (EHRs)- Market Size & Forecast 2019-2030, (USD Million)
    • Healthcare IT Systems Management- Market Size & Forecast 2019-2030, (USD Million)
    • Patient Care Applications- Market Size & Forecast 2019-2030, (USD Million)
    • Others- Market Size & Forecast 2019-2030, (USD Million)
  • Education- Market Size & Forecast 2019-2030, (USD Million)
    • Learning Management Systems (LMSs)- Market Size & Forecast 2019-2030, (USD Million)
    • Student Information Systems (SISs)- Market Size & Forecast 2019-2030, (USD Million)
    • Campus IT Infrastructure- Market Size & Forecast 2019-2030, (USD Million)
    • Others- Market Size & Forecast 2019-2030, (USD Million)
  • Others- Market Size & Forecast 2019-2030, (USD Million)
• By Region
  • North America
  • South America
  • Europe
  • The Middle East & Africa
  • Asia-Pacific

As per the regional aspect, the Global IT Service Management (ITSM) Market is expected to be dominated by the North America by capturing the potential market share. 

Explore further details about this research report- https://www.marknteladvisors.com/research-library/it-service-management-market.html

Top Companies in the Global IT Service Management (ITSM) Market

ServiceNow, BMC Software, Oracle, Boardcom, ManageEngine, Ivanti, ZenDesk, GoTo, Solar Winds, Atlassian, OpenText, Symphonyai Summit, Efecte, Microsoft, IBM, Others.

Global IT Service Management (ITSM) Industry Recent Development:

• 2023: Broadcom acquired VMware for a whopping USD 61 billion to mark an incredible achievement. This strategic move, combined with the exceptional expertise and innovative power possessed by Broadcom's engineering team, positions VMware to soon become one of the leading infrastructure technology companies across the globe.

• 2023: ANSR formed a strategic alliance with ServiceNow. ANSR to create ServiceNow Centers of Excellence in over 60 Global Capability Centers (GCCs) as part of this agreement, aiming to provide training on the ServiceNow platform to 3,500 individuals throughout India.

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