PUBLISHER: Grand View Research | PRODUCT CODE: 1751361
PUBLISHER: Grand View Research | PRODUCT CODE: 1751361
The global cloud information technology service management market size was estimated at USD 9.01 billion in 2024 and is projected to grow at a CAGR of 17.4% from 2025 to 2030. This growth is driven by the increasing demand for flexible, scalable, and cost-effective IT solutions.
As organizations increasingly adopt digital transformation strategies, cloud-based information technology service management (ITSM) tools are becoming essential to manage complex IT infrastructures efficiently. These solutions offer benefits such as rapid deployment, improved operational efficiency, and enhanced service delivery, which are key drivers for market growth. The rise in remote work and hybrid environments has further accelerated the adoption of cloud ITSM platforms that support decentralized IT operations. Moreover, the growing emphasis on customer experience, automation, and compliance with IT governance frameworks fuels the demand for integrated and intelligent ITSM solutions.
The growth of the cloud ITSM market is primarily driven by the rising adoption of cloud computing across businesses of all sizes. Enterprises are increasingly prioritizing agility, scalability, and reduced infrastructure costs, which cloud-based ITSM platforms enable. Traditional ITSM systems often require heavy upfront investment and ongoing maintenance, whereas cloud ITSM offers a subscription-based model with lower capital expenditure and faster deployment. This shift aligns with the broader trend of digital transformation, where businesses aim to modernize legacy systems and adopt IT solutions that support faster innovation cycles. Moreover, the shift from a product-centric to a service-centric IT model demands tools that support dynamic service delivery, which cloud ITSM platforms facilitate effectively.
The growing complexity of IT environments, especially with the proliferation of hybrid and multi-cloud ecosystems, necessitates more advanced service management capabilities. Cloud ITSM platforms help organizations manage a wide array of IT services, incidents, assets, and changes across distributed infrastructure. As digital services become mission-critical, downtime or service disruptions can have significant operational and financial repercussions. Cloud-based ITSM enables real-time monitoring, incident response automation, and intelligent service workflows, all of which enhance reliability and performance. In sectors such as banking, healthcare, and manufacturing, where regulatory compliance and uninterrupted services are vital, cloud ITSM ensures consistent governance and service continuity.
Global Cloud ITSM Market Report Segmentation
This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Grand View Research has segmented the global cloud information technology service management (ITSM) market report based on component, technology, enterprise size, vertical, and region.