The world is currently experiencing a huge challenge which has affected all the industries and markets. Few markets have experienced a high growth in their demand while others have faced a downfall. The extent of growth or drop in the market statistics of different industries by COVID 19 plays an important role in how the future of businesses will shape up in the near future. We at Value Market Research provide you with an impact analysis of COVID 19 on this market with its latest update in the purchased version of the report.
Global Cloud-Based ITSM Market Report By Service (Professional Services And Managed Services), Organization Size (Small And Medium Enterprises And Large Enterprises), Vertical (Banking, Financial Services, And Insurance, Telecom And IT, Healthcare And Life Sciences, Retail And Consumer Packaged Goods, Government And Public Sector, Energy And Utilities, Travel And Hospitality, Manufacturing, Education And Others) And By Regions - Industry Trends, Size, Share, Growth, Estimation And Forecast, 2021-2028
ID:VMR11210904
August 2021
Report Formats: Electronic (PDF), MS EXCEL
Global Cloud Based ITSM Market Overview
The panorama of how IT services are delivered is rapidly changing, from an on-premise or traditional datacentre service delivery to IT services being provided by cloud service providers. Cloud hosting has gained its prominence all over, ITSM being key users. It is known for its scalability, reliability, security, and flexibility, making it ideal for IT businesses to maintain fast load times during sudden traffic spikes. Cloud ITSM (information technology service management) offers powerful benefits for the enterprise, from greater productivity and enhanced efficiency to significant cost reductions and simplified IT management. It also enables the mobile services that employees increasingly use when accessing corporate data and applications. Cloud ITSM services will continue to simplify how organizations deliver mission-critical apps and data to the workforce. Existing on-premises software deployments are moving 100% to the cloud due to its advantages over on-premise. Companies all over the world are looking forward to embracing the cloud for their benefit. Cloud hosting offers an enhanced way of providing ITSM without the ownership and cost of setting up, managing, and maintaining infrastructure and technology. Cloud computing allows IT businesses to be less focused on lower-level IT activities and more focused on core designing, delivering, transitioning, managing, and improving services.
The widespread adoption of BYOD (Bring Your Own Device) policies and increasing mobile workforce, the advent of advanced technologies such as big data and IoT is again accelerating market growth. Benefits associated with cloud-based ITSM such as agile implementation, easy deployment, and subscription-based pricing further boost the market growth. The market faces a challenge due to the lack of standard procedures and integration concerns with traditional architectures. However, security and privacy concerns for confidential data and business processes are restraining the growth of the global cloud ITSM market. Data security is a prime concern for the organization. For digitally operating companies, unauthorized access, corruption, or theft of data is a significant issue. Maintaining business things confidentiality plays a crucial role in enterprises. Key players are working on overcoming these shortcomings and bringing a secure solution for businesses. The global cloud-based ITSM the market is highly fragmented. BMC Software, Inc., CA Technologies, Service Now, Cherwell Software, LLC, Hewlett Packard Enterprise Company, HEAT Software USA, Hornbill, Microsoft, and Micro Focus are key companies operating in the market.
In this research report, the cloud-based ITSM market is segmented by service, organization size, verticals, and region.
Analysis, By Service
Based on service, the market is divided into service portfolio management, service demand management, service financial management, configuration, and change management, operations and performance management, dashboard, reporting, and analytics, and others. Service demand management and service portfolio management are two prominent service segments of the global cloud-based ITSM market. Increasing BYOD trends, escalating need for ROI in process manufacturing industries, growing demand from SMEs, and integrating project management with social platforms are estimated to drive segment growth.
Analysis, By Organization Size
By organization size, the market is segmented into small and medium enterprises and large enterprises. However, the large enterprise segment grabbed a significant pie of global demand by organization size. This is because large enterprises are more aware of the latest technologies and strive to adopt advanced technologies that will help them focus more on the core activities of the business. On the other hand, SMEs are forecasted to grow faster during the forecast period due to the growing awareness of digital technologies and their benefits to business operations. Moreover, cloud ITSM stands out as an inexpensive, hassle-free, and flexible option for SMEs.
Analysis, By Vertical
By vertical, the market is segmented into BFSI, telecom and IT, healthcare and life sciences, retail and consumer packaged goods, government, and public sector, energy, and utilities, travel and hospitality, manufacturing, education, and others. Telecom and IT accounted for maximum share due to extensive use of IT services within these verticals and willingness to integrate new advanced technology that can make the task more productive and cost reducing. Other verticals also integrate cloud technologies into their businesses as an influence of digitalization, automation, and growing awareness about the benefits of cloud hosting over on-premise.
Analysis, By Region
Based on region, the market is divided into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. The Asia Pacific is estimated to grow at the highest pace during the forecast period. Expansion of IT companies, changing working practices, increasing adoption of new technologies, and escalating provider’s footprint are steering regional growth. North America is leading the global market. It is a base of prominent IT players, prominent service providers, and the overall environment is favourable for the thriving use of cloud-based ITSM. Latin America and the Middle East, and Africa are expected to emerge as crucial shareholders due to the localization of businesses in these regions and growing interest in adopting new technologies at the workplace to enhance productivity.
Market Segmentation covered in the Report:
By Solution
By Organization Size
By Vertical
By Region
The panorama of how IT services are delivered is rapidly changing, from an on-premise or traditional datacentre service delivery to IT services being provided by cloud service providers. Cloud hosting has gained its prominence all over, ITSM being key users. It is known for its scalability, reliability, security, and flexibility, making it ideal for IT businesses to maintain fast load times during sudden traffic spikes. Cloud ITSM (information technology service management) offers powerful benefits for the enterprise, from greater productivity and enhanced efficiency to significant cost reductions and simplified IT management. It also enables the mobile services that employees increasingly use when accessing corporate data and applications. Cloud ITSM services will continue to simplify how organizations deliver mission-critical apps and data to the workforce. Existing on-premises software deployments are moving 100% to the cloud due to its advantages over on-premise. Companies all over the world are looking forward to embracing the cloud for their benefit. Cloud hosting offers an enhanced way of providing ITSM without the ownership and cost of setting up, managing, and maintaining infrastructure and technology. Cloud computing allows IT businesses to be less focused on lower-level IT activities and more focused on core designing, delivering, transitioning, managing, and improving services.
According to Value Market Research, the global cloud-based ITSM market size was valued at about USD 4.8 billion in 2020 and is estimated to grow at a CAGR of around 21.5 % during the forecast period 2021 to 2027.
The widespread adoption of BYOD (Bring Your Own Device) policies and increasing mobile workforce, the advent of advanced technologies such as big data and IoT is again accelerating market growth. Benefits associated with cloud-based ITSM such as agile implementation, easy deployment, and subscription-based pricing further boost the market growth. The market faces a challenge due to the lack of standard procedures and integration concerns with traditional architectures. However, security and privacy concerns for confidential data and business processes are restraining the growth of the global cloud ITSM market. Data security is a prime concern for the organization. For digitally operating companies, unauthorized access, corruption, or theft of data is a significant issue. Maintaining business things confidentiality plays a crucial role in enterprises. Key players are working on overcoming these shortcomings and bringing a secure solution for businesses. The global cloud-based ITSM the market is highly fragmented. BMC Software, Inc., CA Technologies, Service Now, Cherwell Software, LLC, Hewlett Packard Enterprise Company, HEAT Software USA, Hornbill, Microsoft, and Micro Focus are key companies operating in the market.
In this research report, the cloud-based ITSM market is segmented by service, organization size, verticals, and region.
Analysis, By Service
Based on service, the market is divided into service portfolio management, service demand management, service financial management, configuration, and change management, operations and performance management, dashboard, reporting, and analytics, and others. Service demand management and service portfolio management are two prominent service segments of the global cloud-based ITSM market. Increasing BYOD trends, escalating need for ROI in process manufacturing industries, growing demand from SMEs, and integrating project management with social platforms are estimated to drive segment growth.
Analysis, By Organization Size
By organization size, the market is segmented into small and medium enterprises and large enterprises. However, the large enterprise segment grabbed a significant pie of global demand by organization size. This is because large enterprises are more aware of the latest technologies and strive to adopt advanced technologies that will help them focus more on the core activities of the business. On the other hand, SMEs are forecasted to grow faster during the forecast period due to the growing awareness of digital technologies and their benefits to business operations. Moreover, cloud ITSM stands out as an inexpensive, hassle-free, and flexible option for SMEs.
Analysis, By Vertical
By vertical, the market is segmented into BFSI, telecom and IT, healthcare and life sciences, retail and consumer packaged goods, government, and public sector, energy, and utilities, travel and hospitality, manufacturing, education, and others. Telecom and IT accounted for maximum share due to extensive use of IT services within these verticals and willingness to integrate new advanced technology that can make the task more productive and cost reducing. Other verticals also integrate cloud technologies into their businesses as an influence of digitalization, automation, and growing awareness about the benefits of cloud hosting over on-premise.
Analysis, By Region
Based on region, the market is divided into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. The Asia Pacific is estimated to grow at the highest pace during the forecast period. Expansion of IT companies, changing working practices, increasing adoption of new technologies, and escalating provider’s footprint are steering regional growth. North America is leading the global market. It is a base of prominent IT players, prominent service providers, and the overall environment is favourable for the thriving use of cloud-based ITSM. Latin America and the Middle East, and Africa are expected to emerge as crucial shareholders due to the localization of businesses in these regions and growing interest in adopting new technologies at the workplace to enhance productivity.
Market Segmentation covered in the Report:
By Solution
- Service Portfolio Management
- Service Demand Management
- Service Financial Management
- Configuration and Change Management
- Operations and Performance Management
- Dashboard, Reporting, and Analytics
- Others
By Organization Size
- Small and Medium Enterprises
- Large Enterprises
By Vertical
- Banking, Financial Services, and Insurance
- Telecom and IT
- Healthcare and Life Sciences
- Retail and Consumer Packaged Goods
- Government and Public Sector
- Energy and Utilities
- Travel and Hospitality
- Manufacturing
- Education
- Others
By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
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1 . PREFACE
1.1. Report Description
1.1.1. Objective
1.1.2. Target Audience
1.1.3. Unique Selling Proposition (USP) & offerings
1.2. Research Scope
1.3. Research Methodology
1.3.1. Market Research Process
1.3.2. Market Research Methodology
2 . EXECUTIVE SUMMARY
2.1. Highlights of Market
2.2. Global Market Snapshot
3 . CLOUD-BASED ITSM – INDUSTRY ANALYSIS
3.1. Introduction - Market Dynamics
3.2. Market Drivers
3.3. Market Restraints
3.4. Opportunities
3.5. Industry Trends
3.6. Porter’s Five Force Analysis
3.7. Market Attractiveness Analysis
3.7.1 By Solution
3.7.2 By Organization Size
3.7.3 By Vertical
3.7.4 By Region
4 . VALUE CHAIN ANALYSIS
4.1. Value Chain Analysis
4.2. Raw Material Analysis
4.2.1. List of Raw Materials
4.2.2. Raw Material Manufactures List
4.2.3. Price Trend of Key Raw Materials
4.3. List of Potential Buyers
4.4. Marketing Channel
4.4.1. Direct Marketing
4.4.2. Indirect Marketing
4.4.3. Marketing Channel Development Trend
5 . IMPACT ANALYSIS OF COVID-19 OUTBREAK
5.1. Impact Analysis of Covid-19 Outbreak
5.1.1. Direct Impact on Production
5.1.2. Supply Chain and Market Disruption
5.1.3. Financial Impact on Firms and Financial Markets
5.2. COVID-19 Impact Analysis by Production, Import, Export and Demand
5.3. Market: Pre V/S Post COVID-19
5.4. Estimated Impact of the Coronavirus (COVID-19) Epidemic
5.5. COVID-19: Micro and Macro Factor Analysis
6 . GLOBAL CLOUD-BASED ITSM MARKET ANALYSIS BY SOLUTION
6.1 Overview by Solution
6.2 Historical and Forecast Data
6.3 Analysis by Solution
6.4 Service Portfolio Management Market by Regions
6.5 Service Demand Management Market by Regions
6.6 Service Financial Management Market by Regions
6.7 Configuration and Change Management Market by Regions
6.8 Operations and Performance Management Market by Regions
6.9 Dashboard, Reporting, and Analytics Market by Regions
6.10. Others Market by Regions
7 . GLOBAL CLOUD-BASED ITSM MARKET ANALYSIS BY ORGANIZATION SIZE
7.1 Overview by Organization Size
7.2 Historical and Forecast Data
7.3 Analysis by Organization Size
7.4 Small and Medium Enterprises Market by Regions
7.5 Large Enterprises Market by Regions
8 . GLOBAL CLOUD-BASED ITSM MARKET ANALYSIS BY VERTICAL
8.1 Overview by Vertical
8.2 Historical and Forecast Data
8.3 Analysis by Vertical
8.4 Banking, Financial Services, and Insurance Market by Regions
8.5 Telecom and IT Market by Regions
8.6 Healthcare and Life Sciences Market by Regions
8.7 Retail and Consumer Packaged Goods Market by Regions
8.8 Government and Public Sector Market by Regions
8.9 Energy and Utilities Market by Regions
8.10. Travel and Hospitality Market by Regions
8.11 Manufacturing Market by Regions
8.12 Education Market by Regions
8.13 Others Market by Regions
9 . GLOBAL CLOUD-BASED ITSM MARKET ANALYSIS BY GEOGRAPHY
9.1. Regional Outlook
9.2. Introduction
9.3. North America
9.3.1. Overview, Historic and Forecast Data
9.3.2. North America By Segment
9.3.3. North America By Country
9.3.4. United State
9.3.5. Canada
9.3.6. Mexico
9.4. Europe
9.4.1. Overview, Historic and Forecast Data
9.4.2. Europe by Segment
9.4.3. Europe by Country
9.4.4. United Kingdom
9.4.5. France
9.4.6. Germany
9.4.7. Italy
9.4.8. Russia
9.4.9. Rest Of Europe
9.5. Asia Pacific
9.5.1. Overview, Historic and Forecast Data
9.5.2. Asia Pacific by Segment
9.5.3. Asia Pacific by Country
9.5.4. China
9.5.5. India
9.5.6. Japan
9.5.7. South Korea
9.5.8. Australia
9.5.9. Rest Of Asia Pacific
9.6. Latin America
9.6.1. Overview, Historic and Forecast Data
9.6.2. Latin America by Segment
9.6.3. Latin America by Country
9.6.4. Brazil
9.6.5. Argentina
9.6.6. Peru
9.6.7. Chile
9.6.8. Rest of Latin America
9.7. Middle East & Africa
9.7.1. Overview, Historic and Forecast Data
9.7.2. Middle East & Africa by Segment
9.7.3. Middle East & Africa by Country
9.7.4. Saudi Arabia
9.7.5. UAE
9.7.6. Israel
9.7.7. South Africa
9.7.8. Rest Of Middle East And Africa
10 . COMPETITIVE LANDSCAPE OF THE CLOUD-BASED ITSM COMPANIES
10.1. Cloud-Based Itsm Market Competition
10.2. Partnership/Collaboration/Agreement
10.3. Merger And Acquisitions
10.4. New Product Launch
10.5. Other Developments
11 . COMPANY PROFILES OF CLOUD-BASED ITSM INDUSTRY
11.1. Company Share Analysis
11.2. Market Concentration Rate
11.3. BMC Software, Inc.
11.3.1. Company Overview
11.3.2. Financials
11.3.3. Products
11.3.4. Recent Developments
11.4. CA Technologies
11.4.1. Company Overview
11.4.2. Financials
11.4.3. Products
11.4.4. Recent Developments
11.5. Service Now
11.5.1. Company Overview
11.5.2. Financials
11.5.3. Products
11.5.4. Recent Developments
11.6. Cherwell Software, LLC
11.6.1. Company Overview
11.6.2. Financials
11.6.3. Products
11.6.4. Recent Developments
11.7. Hewlett Packard Enterprise Company
11.7.1. Company Overview
11.7.2. Financials
11.7.3. Products
11.7.4. Recent Developments
11.8. HEAT Software USA
11.8.1. Company Overview
11.8.2. Financials
11.8.3. Products
11.8.4. Recent Developments
11.9. Hornbill
11.9.1. Company Overview
11.9.2. Financials
11.9.3. Products
11.9.4. Recent Developments
11.10. Microsoft
11.10.1. Company Overview
11.10.2. Financials
11.10.3. Products
11.10.4. Recent Developments
11.11. Micro Focus
11.11.1. Company Overview
11.11.2. Financials
11.11.3. Products
11.11.4. Recent Developments
*Note - in company profiling, financial details and recent development are subject to availability or might not be covered in case of private companies
LIST OF TABLES
- Market Snapshot
- Drivers : Impact Analysis
- Restraints : Impact Analysis
- List of Raw Material
- List of Raw Material Manufactures
- List of Potential Buyers
- COVID-19 Impact Analysis by Production, Import, Export and Demand
- Pre V/S Post COVID-19
- Estimated Impact Of The Coronavirus (Covid-19) Epidemic
- COVID-19: Micro and Macro Factor Analysis
- Analysis by Solution (USD MN)
- Service Portfolio Management Market by Geography (USD MN)
- Service Demand Management Market by Geography (USD MN)
- Service Financial Management Market by Geography (USD MN)
- Configuration and Change Management Market by Geography (USD MN)
- Operations and Performance Management Market by Geography (USD MN)
- Dashboard, Reporting, and Analytics Market by Geography (USD MN)
- Others Market by Geography (USD MN)
- Analysis Market by Organization Size (USD MN)
- Small and Medium Enterprises Market by Geography (USD MN)
- Large Enterprises Market by Geography (USD MN)
- Analysis by Vertical (USD MN)
- Banking, Financial Services, and Insurance Market by Geography (USD MN)
- Telecom and IT Market by Geography (USD MN)
- Healthcare and Life Sciences Market by Geography (USD MN)
- Retail and Consumer Packaged Goods Market by Geography (USD MN)
- Government and Public Sector Market by Geography (USD MN)
- Energy and Utilities Market by Geography (USD MN)
- Travel and Hospitality Market by Geography (USD MN)
- Manufacturing Market by Geography (USD MN)
- Education Market by Geography (USD MN)
- Others Market by Geography (USD MN)
- Global Cloud-Based Itsm Market by Geography (USD MN)
- North America Market Analysis (USD MN)
- United State Market Analysis (USD MN)
- Canada Market Analysis (USD MN)
- Mexico Market Analysis (USD MN)
- Europe Market Analysis (USD MN)
- Europe Market Estimate by Country (USD MN)
- United Kingdom Market Analysis (USD MN)
- France Market Analysis (USD MN)
- Germany Market Analysis (USD MN)
- Italy Market Analysis (USD MN)
- Russia Market Analysis (USD MN)
- Spain Market Analysis (USD MN)
- Rest of Europe Market Analysis (USD MN)
- Asia Pacific Market Analysis (USD MN)
- China Market Analysis (USD MN)
- Japan Market Analysis (USD MN)
- India Market Analysis (USD MN)
- South Korea Market Analysis (USD MN)
- Australia Market Analysis (USD MN)
- Rest of Asia Pacific Market Analysis (USD MN)
- Latin America Market Analysis (USD MN)
- Brazil Market Analysis (USD MN)
- Argentina Market Analysis (USD MN)
- Peru Market Analysis (USD MN)
- Chile Market Analysis (USD MN)
- Rest of Latin America Market Analysis (USD MN)
- Middle East & Africa Market Analysis (USD MN)
- Saudi Arabia Market Analysis (USD MN)
- UAE Market Analysis (USD MN)
- Israel Market Analysis (USD MN)
- South Africa Market Analysis (USD MN)
- Rest of Middle East and Africa Market Analysis (USD MN)
- Partnership/Collaboration/Agreement
- Mergers And Acquisiton
LIST OF FIGURES
- Research Scope of Cloud-Based Itsm Report
- Market Research Process
- Market Research Methodology
- Global Cloud-Based Itsm Market Size, by Region (USD MN)
- Porters Five Forces Analysis
- Market Attractiveness Analysis by Solution
- Market Attractiveness Analysis by Organization Size
- Market Attractiveness Analysis by Vertical
- Market Attractiveness Analysis by Region
- Value Chain Analysis
- Global Market Analysis by Solution (USD MN)
- Service Portfolio Management Market by Geography (USD MN)
- Service Demand Management Market by Geography (USD MN)
- Service Financial Management Market by Geography (USD MN)
- Configuration and Change Management Market by Geography (USD MN)
- Operations and Performance Management Market by Geography (USD MN)
- Dashboard, Reporting, and Analytics Market by Geography (USD MN)
- Others Market by Geography (USD MN)
- Global Market Analysis by Organization Size (USD MN)
- Small and Medium Enterprises Market by Geography (USD MN)
- Large Enterprises Market by Geography (USD MN)
- Global Market Analysis by Vertical (USD MN)
- Banking, Financial Services, and Insurance Market by Geography (USD MN)
- Telecom and IT Market by Geography (USD MN)
- Healthcare and Life Sciences Market by Geography (USD MN)
- Retail and Consumer Packaged Goods Market by Geography (USD MN)
- Government and Public Sector Market by Geography (USD MN)
- Energy and Utilities Market by Geography (USD MN)
- Travel and Hospitality Market by Geography (USD MN)
- Manufacturing Market by Geography (USD MN)
- Education Market by Geography (USD MN)
- Others Market by Geography (USD MN)
- Global Market by Revenue
- North America Market by Revenue
- Europe Market by Revenue
- Asia Pacific Market by Revenue
- Latin America Market by Revenue
- Middle East & Africa Market by Revenue
- Recent Development in Industry
- Company Market Share Analysis
* Kindly note that the above listed are the basic tables and figures of the report and are not limited to the TOC.
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Objectives of Study
- Define and measure the global market
- Volume or revenue forecast of the global market and its various sub-segments with respect to main geographies
- Analyze and identify major market trends along with the factors driving or inhibiting the market growth
- Study the company profiles of the major market players with their market share
- Analyze competitive developments