IT Service Management Market New Technologies, Applications, New Opportunities After COVID-19 and Forecast 2029

IT Service Management Market was valued US$ 3.03 Bn in 2022 and is expected to reach US$ 5.02 Bn by 2029, at a 7.50 % CAGR of around during a forecast period.

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Market Overview

The market overview focuses on analyzing the dynamics of the IT Service Management Market , including its key players and market rivalry. The report provides revenue forecasts for the industry at the global, regional, and segment levels, with a particular emphasis on sales forecasting by segment and region. This comprehensive analysis allows for a detailed understanding of the market’s current state and future trends, providing valuable insights for industry stakeholders.

The global IT Service Management (ITSM) market is projected to witness substantial growth in the coming years, with a CAGR of around 7.50% during the forecast period from 2023 to 2029. The market, which was valued at US$ 3.03 Bn in 2022, is expected to reach US$ 5.02 Bn by 2029.

Report Scope and Research Methodology:

The comprehensive report provides an in-depth analysis of the global IT Service Management market from 2017 to 2029, with 2022 as the base year. The study covers the market trends, drivers, and restraints affecting the industry. Special attention has been given to the impact of the COVID-19 lockdown on the market demand, supply, and financial markets. The research methodology includes extensive primary and secondary research, Porter’s analysis, SVOR analysis, and PESTEL analysis, offering valuable insights at both macro and micro levels. The report also profiles key players, market leaders, followers, and new entrants.

Market Drivers and Restraints:

The emergent technologies in the IT field, along with the growing demand for remote solutions, are significant drivers for the global ITSM market. Businesses’ increasing need for cost-effective and flexible solutions to enhance consumer satisfaction is also contributing to market growth. However, challenges related to quality standards in SLA (Service Level Agreement), privacy, security issues, and high network bandwidth requirements pose obstacles to the market’s growth.

Regional Insights:

The report offers a regional analysis of the global IT Service Management market, covering North America, Europe, Asia Pacific, Middle East & Africa, and South America. North America is expected to witness the fastest growth during the forecast period due to the rapid adoption of BYOD (Bring Your Own Device) policies. The Asia Pacific market is anticipated to be the fastest-growing ITSM market, driven by increased technology adoption and organizations’ focus on enhancing customer experience.


Comparing the adoption of ITSM in the US and Canada reveals similarities between the two nations, despite Canada having started little earlier than the US. Investor interest in IT and ITSM is significant in major markets including India, China, South Korea, and Japan. Similar to this, the growth in the APAC area is being driven by the increase in internet users in Asia and technologies like 4G LTE. The report’s goal is to give an in-depth study of the global market that takes into account all industry participants. The research analyses complex data in simple way and presents the historical and current state of the industry together with projected market size and trends.

by Deployment


by Application

Configuration Management
Performance Management
Network Management
Database Management System
Other Applications

by End-Use

Government and Education
IT and Telecommunication
Travel and Hospitality
Other End-user Industries

Key Players:

The report profiles key players in the IT Service Management Market, including:

1. Atlassian
2.BMC Software
3. Ivanti (HEAT Software)
4. IBM
5. SAP
6. Broadcom
7. Axios Systems
8. ASG Software
9. Samanage
10. Symantec
11. Agiloft Service
12. Micro Focus (Formerly HPE)
13. Epicor
14. Ultimo
15. SolarWinds
16. TOPdesk
17. Freshworks
18. SysAid
19. Autotask
20. HPE
21. Microsoft
22. ServiceNow
23. ITSM
24. Hornbill

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Key questions answered in the IT Service Management Market are:

  • What is IT Service Management Market?
  • What are the factors driving the IT Service Management Market Market growth?
  • What are the factors are limiting the IT Service Management Market Market growth?
  • What was the IT Service Management Market market size in 2029?
  • Which trends are expected to generate additional revenue for the IT Service Management Market market growth?
  • What are the recent industry trends that can be implemented to generate additional revenue streams for the IT Service Management Market Market?
  • What growth strategies are the players considering to increase their foothold in the IT Service Management Market Market?
  • Who held the largest market share in the IT Service Management Market Market?

Key Offerings:

  • Past Market Size and Competitive Landscape (2023 to 2029)
  • Past Pricing and price curve by region (2023 to 2029)
  • Market Size, Share, Size & Forecast by different segment | (2023 to 2029)
  • Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by region
  • Market Segmentation – A detailed analysis by segment with their sub-segments and Region
  • Competitive Landscape – Profiles of selected key players by region from a strategic perspective
  • Competitive landscape – Market Leaders, Market Followers, Regional player
  • Competitive benchmarking of key players by region
  • PESTLE Analysis
  • PORTER’s analysis
  • Value chain and supply chain analysis
  • Legal Aspects of business by region
  • Lucrative business opportunities with SWOT analysis
  • Recommendations

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