Global Cloud-Based IT Service Management (ITSM) Industry

Global Cloud-Based IT Service Management (ITSM) Industry

  • April 2021 •
  • 150 pages •
  • Report ID: 5798170 •
  • Format: PDF
Abstract:
- Global Cloud-Based IT Service Management (ITSM) Market to Reach $16.5 Billion by 2027
- Amid the COVID-19 crisis, the global market for Cloud-Based IT Service Management (ITSM) estimated at US$6.5 Billion in the year 2020, is projected to reach a revised size of US$16.5 Billion by 2027, growing at aCAGR of 14.2% over the period 2020-2027. Solution, one of the segments analyzed in the report, is projected to record 13% CAGR and reach US$10.4 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Service segment is readjusted to a revised 16.5% CAGR for the next 7-year period.
- The U.S. Market is Estimated at $1.9 Billion, While China is Forecast to Grow at 13.7% CAGR
- The Cloud-Based IT Service Management (ITSM) market in the U.S. is estimated at US$1.9 Billion in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$2.9 Billion by the year 2027 trailing a CAGR of 13.7% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 12.6% and 12.2% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 10.4% CAGR.

- Select Competitors (Total 46 Featured) -
  • Axios Systems PLC
  • BMC Software, Inc.
  • CA Technologies, Inc.
  • Cherwell Software, LLC
  • Citrix Systems, Inc.
  • HEAT Software USA, Inc.
  • Hewlett Packard Enterprise Development LP (HPE)
  • Hornbill Corporate Ltd.
  • IBM Corporation
  • ServiceNow, Inc.