Information Technology Service Management Market Growth, Size, Trends and Future Outlook
Information Technology Service Management (ITSM) Market Growth, Size, Trends Analysis - By Component, By Technology, By Deployment, By Enterprise Size, By Vertical - Regional Outlook, Competitive Strategies and Segment Forecast to 2034
| Published: May-2025 | Report ID: IACT2567 | Pages: 1 - 244 | Formats*: |
| Category : Information & Communications Technology | |||
Information Technology Service Management (ITSM) Market Introduction and Overview
According to SPER Market Research, the Global Information Technology Service Management (ITSM) Market is estimated to reach USD 52.96 billion by 2034 with a CAGR of 14.68%
The report includes an in-depth analysis of the Global Information Technology Service Management (ITSM) Market, including market size and trends, product mix, Applications, and supplier analysis. The market for IT service management (ITSM) is expanding as more businesses use digital transformation techniques to improve operational effectiveness and service delivery. ITSM solutions maximize workflow automation across industries, enhance incident management, and streamline IT procedures. The need for improved customer experience and regulatory compliance, the growing usage of AI and automation, and the growing need for cloud-based ITSM solutions are some of the main motivators. Additionally, the increased complexity of IT systems supports industry expansion. Adoption is hampered by issues including expensive implementation costs, difficult interface with older systems, and data security worries. Market participants continue to prioritize addressing these issues through innovation, economical fixes, and improved cybersecurity measures.
By Component Insights
Information Technology Service Management (ITSM) is classified into two categories: Solution, Services. The solution sector dominated the market. Strong ITSM solutions that optimize operations often integrating automation for cost savings and faster service delivery are in greater demand as technology dependence increases. The growing need for consultation, installation, customisation, training, and support services is expected to propel the service segment's notable rise in the upcoming years.
By Technology Insights
The market for Information Technology Service Management (ITSM) is segmented based on Technology, including Configuration Management, Performance Management, Network Management and Database Management System. The biggest revenue share was attributed to the network management category. The high percentage is explained by the increasing complexity of IT networks, which calls for efficient management and monitoring. The growing need for ITSM solutions that improve IT infrastructure management is expected to be the main driver of the Database Management System (DBMS) segment's notable expansion in the upcoming years.
By Deployment Insights
The market for Information Technology Service Management (ITSM) is segmented based on Deployment, including Cloud, On-Premises. The biggest revenue share was attributed to the cloud segment. The expansion is ascribed to the fact that cloud-based ITSM solutions are very appealing to businesses of all sizes due to their strong benefits, which include scalability, flexibility, and affordability. In the upcoming years, the on-premises market is expected to develop significantly. Concerns regarding the security of data and applications in the cloud continue to be a major barrier to cloud migration for many enterprises.
By Enterprise Size Insights
The market for Information Technology Service Management (ITSM) is segmented based on Enterprise Size, including SMEs, Large Enterprises. The biggest market revenue share was held by the large enterprises sector. Their complex IT infrastructures, which require strong ITSM solutions, and their significant investment resources are responsible for the segment's growth. Over the course of the projected period, the SMEs segment is expected to show the quickest CAGR. SMEs are depending more and more on IT to manage their operations, including production automation and customer relationship management.
By Vertical Insights
The market for Information Technology Service Management (ITSM) is divided based on Vertical, including BFSI, Healthcare, Retail & E-Commerce, IT & Telecom, Energy & Utilities and Government. The biggest revenue share was accounted for by the telecom and IT segment. This is because of the complex IT infrastructure requirements of the industry. To improve service delivery, reduce expenses, and increase customer happiness, telecom and IT firms rely on ITSM tools and services. Over the course of the projected period, the healthcare segment is expected to show the fastest CAGR. The growing use of digital health technologies like wearable technology, telemedicine, and electronic health records (EHRs) is one of the main drivers of this rise.
By Regional Insights
North America is the industry leader for information technology service management. Because they have consistently invested in ITSM solutions and pioneered ITSM practices, developed nations like the U.S. and Canada are driving this regional leadership. Businesses in North America are under increasing pressure to improve the cost-effectiveness and quality of IT services, which makes ITSM solutions an essential tool. Additionally, the region's competitive edge is further cemented by the existence of top ITSM vendors with North American headquarters.
Market Competitive Landscape
Important players are making a concerted effort to increase their clientele and obtain a competitive edge. Partnerships, mergers and acquisitions, collaborations, and the creation of new goods and technology are some of the strategic efforts they are pursuing in order to do this. They are able to develop in response to changing security requirements and improve their market presence thanks to this proactive strategy. Some of the key market players are Atlassian, BMC Software, Inc., Broadcom, Cloud Software Group, Inc., Freshworks Inc., Hewlett Packard Enterprise Development LP, IBM Corporation, Ivanti, Open Text and ServiceNow.
Recent Developments:
In September 2024, BearingPoint and Swish AI partnered to integrate AI technology to improve ITSM. By utilizing AI to automate service workflows, boost productivity, and improve user experiences, this partnership seeks to revolutionize the ITSM market.
In May 2024, "SolarWinds AI," a generative AI engine built within SolarWinds Service Desk, an IT service management solution, was launched by SolarWinds Worldwide, LLC. It was created using the "AI by Design" architecture with the goal of improving IT operations through the simplification of agent workflows, quicker problem solving, and reduced downtime.
Scope of the report:
| Report Metric | Details |
| Market size available for years | 2021-2034 |
| Base year considered | 2024 |
| Forecast period | 2025-2034 |
| Segments covered | By Component, By Technology, By Deployment, By Enterprise Size, By Vertical |
| Regions covered | North America, Latin America, Asia-Pacific, Europe, and Middle East & Africa |
| Companies Covered | Atlassian, BMC Software, Inc., Broadcom, Cloud Software Group, Inc., Freshworks Inc., Hewlett Packard Enterprise Development LP, IBM Corporation, Ivanti., Open Text, ServiceNow. |
Key Topics Covered in the Report
- Global Information Technology Service Management (ITSM) Market Size (FY’2021-FY’2034)
- Overview of Global Information Technology Service Management (ITSM) Market
- Segmentation of Global Information Technology Service Management (ITSM) Market By Component (Solution, Services)
- Segmentation of Global Information Technology Service Management (ITSM) Market By Technology (Configuration Management, Performance Management, Network Management, Database Management System)
- Segmentation of Global Information Technology Service Management (ITSM) Market By Deployment (Cloud, On-Premises)
- Segmentation of Global Information Technology Service Management (ITSM) Market By Enterprise Size (SMEs, Large Enterprises)
- Segmentation of Global Information Technology Service Management (ITSM) Market By Vertical (BFSI, Healthcare, Retail & E-Commerce, IT & Telecom, Energy & Utilities, Government)
- Statistical Snap of Global Information Technology Service Management (ITSM) Market
- Expansion Analysis of Global Information Technology Service Management (ITSM) Market
- Problems and Obstacles in Global Information Technology Service Management (ITSM) Market
- Competitive Landscape in the Global Information Technology Service Management (ITSM) Market
- Details on Current Investment in Global Information Technology Service Management (ITSM) Market
- Competitive Analysis of Global Information Technology Service Management (ITSM) Market
- Prominent Players in the Global Information Technology Service Management (ITSM) Market
- SWOT Analysis of Global Information Technology Service Management (ITSM) Market
- Global Information Technology Service Management (ITSM) Market Future Outlook and Projections (FY’2025-FY’2034)
- Recommendations from Analyst
1. Introduction
1.1. Scope of the report
1.2. Market segment analysis
2. Research Methodology
2.1. Research data source
2.1.1. Secondary Data
2.1.2. Primary Data
2.1.3. SPER’s internal database
2.1.4. Premium insight from KOL’s
2.2. Market size estimation
2.2.1. Top-down and Bottom-up approach
2.3. Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis
4.1.1. Drivers
4.1.2. Restraints
4.1.3. Opportunities
4.1.4. Challenges
5. Market variable and outlook
5.1. SWOT Analysis
5.1.1. Strengths
5.1.2. Weaknesses
5.1.3. Opportunities
5.1.4. Threats
5.2. PESTEL Analysis
5.2.1. Political Landscape
5.2.2. Economic Landscape
5.2.3. Social Landscape
5.2.4. Technological Landscape
5.2.5. Environmental Landscape
5.2.6. Legal Landscape
5.3. PORTER’s Five Forces
5.3.1. Bargaining power of suppliers
5.3.2. Bargaining power of buyers
5.3.3. Threat of Substitute
5.3.4. Threat of new entrant
5.3.5. Competitive rivalry
5.4. Heat Map Analysis
6. Competitive Landscape
6.1. Global Information Technology Service Management (ITSM) Market Manufacturing Base Distribution, Sales Area, Product Type
6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in Global Information Technology Service Management (ITSM) Market
7. Global Information Technology Service Management (ITSM) Market, By Component 2021-2034 (USD Million)
7.1. Solution
7.2. Services
8. Global Information Technology Service Management (ITSM) Market, By Technology 2021-2034 (USD Million)
8.1. Configuration Management
8.2. Performance Management
8.3. Network Management
8.4. Database Management System
9. Global Information Technology Service Management (ITSM) Market, By Deployment 2021-2034 (USD Million)
9.1. Cloud
9.2. On-Premises
10. Global Information Technology Service Management (ITSM) Market, By Enterprise Size 2021-2034 (USD Million)
10.1. SMEs
10.2. Large Enterprises
11. Global Information Technology Service Management (ITSM) Market, By Vertical 2021-2034 (USD Million)
11.1. BFSI
11.2. Healthcare
11.3. Retail & E-Commerce
11.4. IT & Telecom
11.5. Energy & Utilities
11.6. Government
12. Global Information Technology Service Management (ITSM) Market, 2021-2034 (USD Million)
12.1. Global Information Technology Service Management (ITSM) Market Size and Market Share
13. Global Information Technology Service Management (ITSM) Market, By Region, 2021-2034 (USD Million)
13.1. Asia-Pacific
13.1.1. Australia
13.1.2. China
13.1.3. India
13.1.4. Japan
13.1.5. South Korea
13.1.6. Rest of Asia-Pacific
13.2. Europe
13.2.1. France
13.2.2. Germany
13.2.3. Italy
13.2.4. Spain
13.2.5. United Kingdom
13.2.6. Rest of Europe
13.3. Middle East and Africa
13.3.1. Kingdom of Saudi Arabia
13.3.2. United Arab Emirates
13.3.3. Qatar
13.3.4. South Africa
13.3.5. Egypt
13.3.6. Morocco
13.3.7. Nigeria
13.3.8. Rest of Middle-East and Africa
13.4. North America
13.4.1. Canada
13.4.2. Mexico
13.4.3. United States
13.5. Latin America
13.5.1. Argentina
13.5.2. Brazil
13.5.3. Rest of Latin America
14. Company Profile
14.1. Atlassian
14.1.1. Company details
14.1.2. Financial outlook
14.1.3. Product summary
14.1.4. Recent developments
14.2. BMC Software, INC
14.2.1. Company details
14.2.2. Financial outlook
14.2.3. Product summary
14.2.4. Recent developments
14.3. Broadcom
14.3.1. Company details
14.3.2. Financial outlook
14.3.3. Product summary
14.3.4. Recent developments
14.4. Cloud SOFTWARE GROUP, INC
14.4.1. Company details
14.4.2. Financial outlook
14.4.3. Product summary
14.4.4. Recent developments
14.5. Freshworks INC.
14.5.1. Company details
14.5.2. Financial outlook
14.5.3. Product summary
14.5.4. Recent developments
14.6. Hewlett PACKARD ENTERPRISE DEVELOPMENT LP
14.6.1. Company details
14.6.2. Financial outlook
14.6.3. Product summary
14.6.4. Recent developments
14.7. IBM Corporation
14.7.1. Company details
14.7.2. Financial outlook
14.7.3. Product summary
14.7.4. Recent developments
14.8. Ivanti.
14.8.1. Company details
14.8.2. Financial outlook
14.8.3. Product summary
14.8.4. Recent developments
14.9. OPEN TEXT
14.9.1. Company details
14.9.2. Financial outlook
14.9.3. Product summary
14.9.4. Recent developments
14.10. ServiceNow.
14.10.1. Company details
14.10.2. Financial outlook
14.10.3. Product summary
14.10.4. Recent developments
14.11. Others
15. Conclusion
16. List of Abbreviations
17. Reference Links
SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.
The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.
Frequently Asked Questions About This Report
Information Technology Service Management (ITSM) Market is projected to reach USD 52.96 by 2034, growing at a CAGR of 14.68% during the forecast period.
Information Technology Service Management (ITSM) Market size from 2025. The Market is expected to reach USD 52.96 by 2034, at a CAGR of 14.68% during the forecast period.
Information Technology Service Management (ITSM) Market CAGR of 14.68% during the forecast period.
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Information Technology Service Management (ITSM) Market size is USD 52.96 from 2025 to 2034.
Information Technology Service Management (ITSM) Market covered By Component, By Technology, By Deployment, By Enterprise Size, By Vertical
The North America is anticipated to have the highest Market share in the Information Technology Service Management (ITSM) Market .
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Atlassian, BMC Software, Inc., Broadcom, Cloud Software Group, Inc., Freshworks Inc., Hewlett Packard Enterprise Development LP, IBM Corporation, Ivanti., Open Text, ServiceNow."
The report includes an in-depth analysis of the Global Information Technology Service Management (ITSM) Market, including market size and trends, product mix, Applications, and supplier analysis
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