How big is the ITSM Market?

The ITSM Market size is expected to reach USD 11 billion in 2024 and grow at a CAGR of 16.72% to reach USD 23.84 billion by 2029. Read More

What is the current ITSM Market size?

In 2024, the ITSM Market size is expected to reach USD 11 billion. Read More

Which is the fastest growing region in ITSM Market?

Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029). Read More

Which region has the biggest share in ITSM Market?

In 2024, the North America accounts for the largest market share in ITSM Market. Read More

What years does this ITSM Market cover, and what was the market size in 2023?

In 2023, the ITSM Market size was estimated at USD 9.16 billion. The report covers the ITSM Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the ITSM Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029. Read More

What are the key factors driving the IT Service Management (ITSM) industry?

The key factors driving the IT Service Management (ITSM) Industry are a) Increased demand for digital transformation and business agility b) Need for improved IT cost optimization and resource management Read More

What are the key factors driving the IT Service Management (ITSM) industry?

The key factors driving the IT Service Management (ITSM) Industry are a) Increased demand for digital transformation and business agility b) Need for improved IT cost optimization and resource management Read More

Information Technology Service Management Market

Information Technology Service Management Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The Report Covers the Global Information Technology Service Management Market. The Market is Segmented by Deployment (Cloud and On-Premise), Application (Configuration Management, Performance Management, Network Management, Database Management Systems, and Other Applications), End-User Industry (BFSI, Manufacturing, Government and Education, IT and Telecommunication, Retail, Travel and Hospitality, Healthcare, and Other End-User Industries), and Geography (North America, Europe, Asia-Pacific, Latin America, and Middle East and Africa). The Market Size and Forecasts are Provided in Terms of Value (USD) for all the Above Segments.

Information Technology Service Management Industry Overview

The information technology service management market is highly fragmented, with the presence of major players like IBM Corporation, ASG Technologies Group Inc. (Rocket Software), Atlassian Corporation PLC, Micro Focus International PLC (Open Text Corporation), and Broadcom Inc. Players in the market are adopting strategies such as partnerships and acquisitions to enhance their product offerings and gain sustainable competitive advantage.

October 2023: EY and IBM jointly launched EY.ai Workforce, an innovative HR solution enabling organizations to integrate artificial intelligence (AI) into their key HR business processes. This collaboration between the companies is a significant milestone in the role of AI, which is aimed at increasing productivity within the HR function.
November 2023: Atlassian Corporation, the company behind popular tools like Jira, Confluence, and Bitbucket, acquired AirTrack, a leading IT data quality management technology provider. This acquisition is part of Atlassian's ongoing efforts to help businesses adopt a comprehensive asset and configuration management approach. By combining the capabilities of AirTrack and Jira Service Management, enterprises can keep track of all their critical assets more effectively, thereby reducing operational risks, costs, and attack surfaces.