The growing shift towards the cloud based technologies globally fuels the growth of the global IT service management market at a CAGR of 12.8% during the forecast period 2023 to 2032

Market Research Future (MRFR) has published a cooked research report on the “global IT service management market”that contains the information from 2019 to 2032.

The IT service management market is estimated to register a CAGR of 12.8% during the forecast period of 2023 to 2032.

MRFR recognizes the following companies as the key players in the global IT service management market— Microsoft, IBM, Oracle, Freshworks, ServiceNow, Broadcom, Ivanti, Zendesk, Atlassian, ManageEngine, and among others.

Market Highlights

The global IT service management market is accounted for to register a CAGR of 12.8% during the forecast period and is estimated to reach USD 36,598.7 million by 2032.

New ITSM possibilities are opened with great opportunities due to the trend towards the broader application of BYOD policies and the growing number of mobile workers. Boyd enables employees to use their own gadgets and thus will encourage productivity especially to employees who are working from home or half and half. With rising confidence in remote working environments especially after emergence of Covid 19 the perception of people towards ITSM improving solutions like mobility management, troubleshooting from remote locations, and policies on use of mobile devices has greatly improved.

Recent ITSM solutions that have been equipped with MDM functionalities will help organizations that are adapting to a decentralized working environment because it enables IT departments to control, monitor and secure devices in the field. Employees observe that because the device used to access the resources, applications, and data belonging to the organization is personal, there is always a quicker response time which makes work very productive. However, BYOD also poses some risks, among them being the ability to deal with multiple device forms, security and compliance issues. Organizations are bound to face such challenges when implementing ITSM platforms especially when they do not have strong support for the mobile features and security mechanisms that support mobility at the workplace. This is because when well implemented, the mobile working environment enhances productivity by ensuring workers use their mobile gadgets to access organizational IT systems and resources.

There is also the need to support mobile devices while having ITSM optimized for mobile use for purposes of real time support and connection. The mobile support in the ITSM solutions enables the workers to access the help desk service, log new cases and monitor the status of the tickets on their devices, making the IT environment more responsive. With the increasing trends toward BYOD and exponentially increasing mobile workforces, ITSM vendors that are currently able to deliver customized, mobile friendly solutions for ITSM have opportunity for growth in this segment. This trend creates opportunities allowing providers to develop flexibility and availability for ITSM hard to address the changing needs of contemporary workplaces.

Access full report @ https://www.marketresearchfuture.com/reports/it-service-management-market-932

Segment Analysis

The global IT service management market has been segmented based on component, deployment model, organization size, application area, and industry vertical.

Based on Component, the global IT Service Management market has been segmented into Solutions, and Services. The solution segment captured the largest share in the market in 2023 and it is also expected to grow with the fastest CAGR during the forecast period.

Based on deployment model, the global IT service management market has been segmented into on-premises and cloud-based. In deployment model segment, cloud based segment is the dominating segment in 2023, and it is also the fastest growing segment in the global market.

Based on Organization Size, the global IT Service Management market has been segmented into small and medium-sized enterprises (SMEs), and large enterprises. In the organization size segment large organization sub segment captured the highest market share in 2023 and this segment is also expected to grow with the highest CAGR during the forecast period.

Based on Application Area, the global IT Service Management market has been segmented into incident and problem management, change and release management, configuration and asset management, service desk management, operations and performance management, network management, governance, risk, and compliance management, and others

Based on Industry Vertical, the global IT Service Management market has been segmented into banking, financial services, and insurance (BFSI), healthcare and life sciences, retail and e-commerce, IT and telecommunications, manufacturing, media and entertainment, government and public sector, energy and utilities, education, and others.

Regional Analysis

By Region, the study provides market insights into North America, Europe, Asia-Pacific, Middle East and Africa and South and Central America. North America consists of the U.S, Canada, and Mexico. The North America IT service management Market forms an integral part of the global IT service management landscape, mainly driven by huge investments and technological advancements in the region.

Europe region consists of Germany, UK, France, Italy, Spain, and Rest of Europe for the study. New IT trends that are being adopted currently include cloud services, AI, and automation; therefore, organizations are turning to enhanced ITSM solutions for efficient management of infrastructure, better service delivery, and support to the business. Due to the transformation of business IT environments to support the needs of digital services, ITSM has become crucial to achieving efficient business processes.

In Asia-Pacific region growth is attributed to continued digitization and the continued investment in its infrastructure in growing economies like India, China and south-east Asia. With the rise in modernization of business environments in these countries the use of cloud computing, AI, automation is being adopted and this makes business try and look for better ITSM solutions to support their service delivery in terms of efficient ways to support the changes are expected to drive the growth of the Asia-Pacific IT service management market over the forecast period.

Key Findings of the Study

• The global IT service management market is expected to reach USD 36,598.7 million by 2032, at a CAGR of 12.8% during the forecast period.


• The Asia-Pacific region accounted for the fastest-growing global market.


• Based on component, the solution segment was attributed to holding the largest market in 2023.


• Microsoft, IBM, Oracle, Freshworks, ServiceNow, Broadcom, Ivanti, Zendesk, Atlassian, ManageEngine, and among others are some of the players in the market.