Cloud IT Service Management (Cloud ITSM) Market to grow at a CAGR of 22.3%

Market Data Centre

Market Data Centre

North America Holds Major Share in Global Cloud IT Service Management Market

Pune, April 25, 2022 (GLOBE NEWSWIRE) — IT service management (ITSM) is a set of principles and procedures for more successfully implementing, delivering, and managing IT services to reach companies’ goals. All of the actions involved in planning, designing, delivering, running, and controlling the IT and cloud services that are supplied to customers are referred to as cloud IT service management. Implementing cloud IT service management solutions enables businesses to better manage their IT services through structured delivery and documentation, lower costs, and gain actionable IT insights for decision-making. AI-powered cloud IT services management solutions automate workflows and reduce manual processes, resulting in a more efficient, compliant, and secure organization.

The global Cloud ITSM Market was valued at USD 5.32 billion in 2021, and is expected to grow at a CAGR of 22.3% from 2022 to 2030.

Regional Analysis

The global Cloud IT service management market is likely to generate considerable revenue from North America, Europe, Asia-Pacific, and RoW during the forecast period. It has all been studied in the cloud IT service management market. North America region includes US and Canada. The United Kingdom, Germany, France, and the rest of Europe make up Europe. Asia-Pacific includes China, Japan, India, and the Rest of Asia-Pacific.

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Key Companies Profiled

  • Atlassian Corporation PLC (Australia)

  • Axios Systems (US)

  • BMC Software, Inc. (US)

  • CA Technologies (US),

  • Cherwell Software (US)

  • Freshworks, Inc. (US)

  • Hornbill Corporate Limited (UK)

  • Hewlett Packard Enterprise Development LP (US)

  • IBM Corporation (US)

  • Ivanti (US),

  • ManageEngine (India)

  • Micro Focus (UK)

  • Microsoft Corporation (US)

  • ServiceNow, Inc. (US)

Vendor Assessment

Vendor assessment includes a deep analysis of how vendors are addressing the demand in the Cloud IT Service Management (Cloud ITSM) Market. The MDC Competetive Scape model was used to assess qualitative and quantitative insights in this assessment. MDC’s Competitive Scape is a structured method for identifying key players and outlining their strengths, relevant characteristics, and outreach strategy. MDC’s Competitive Scape allows organizations to analyze the environmental factors that influence their business, set goals, and identify new marketing strategies. MDC Research analysts conduct a thorough investigation of vendors’ solutions, services, programs, marketing, organization size, geographic focus, type of organization and strategies.

Technology Assessment

Technology dramatically impacts business productivity, growth and efficiency. Technologies can help companies develop competitive advantages, but choosing them can be one of the most demanding decisions for businesses. Technology assessment helps organizations to understand their current situation with respect to technology and offer a roadmap where they might want to go and scale their business. A well-defined process to assess and select technology solutions can help organizations reduce risk, achieve objectives, identify the problem, and solve it in the right way. Technology assessment can help businesses identify which technologies to invest in, meet industry standards, compete against competitors.

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Business Ecosystem Analysis

Advancements in technology and digitalization have changed the way companies do business; the concept of a business ecosystem helps businesses understand how to thrive in this changing environment. Business ecosystems provide organizations with opportunities to integrate technology in their daily business operations and improve research and business competency. The business ecosystem includes a network of interlinked companies that compete and cooperate to increase sales, improve profitability, and succeed in their markets. An ecosystem analysis is a business network analysis that includes the relationships amongst suppliers, distributors, and end-users in delivering a product or service.

Regions and Countries Covered

North America (US, Canada), Europe (Germany, UK, France, Spain, Italy, and Rest of Europe), Asia-Pacific (Japan, China, Australia, India, Rest of Asia-Pacific), and Rest of the World (RoW)

Report Coverage

Cloud IT Service Management (Cloud ITSM) Market Dynamics, Covid-19 Impact on the Cloud IT Service Management (Cloud ITSM) Market, Vendor Profiles, Vendor Assessment, Strategies, Technology Assessment, Product Mapping, Industry Outlook, Economic Analysis, Segmental Analysis, Cloud IT Service Management (Cloud ITSM) Market Sizing, Analysis Tables.

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Vendor Profiles Covered

All Major Tier-1, Tier-2, and Tier-3 companies are covered in this Cloud IT Service Management (Cloud ITSM) Market report (25 Vendor Profiles)

Key Questions Answered in This Report:

  • What is the potential of the Cloud IT Service Management (Cloud ITSM) Market?

  • What is the impact of COVID-19 on the global Cloud IT Service Management (Cloud ITSM) Market?

  • What are the top strategies that companies adopting in Cloud IT Service Management (Cloud ITSM) Market?

  • What are the challenges faced by SME’s and prominent vendors in Cloud IT Service Management (Cloud ITSM) Market?

  • Which region has the highest investments in Cloud IT Service Management (Cloud ITSM) Market?

  • What are the latest research and activities in Cloud IT Service Management (Cloud ITSM) Market?

  • Who are the prominent players in Cloud IT Service Management (Cloud ITSM) Market?

  • What is the potential of the Cloud IT Service Management (Cloud ITSM) Market?

Additional vendors profiles can be added based on client business requirements

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