Global IT Service Management (ITSM) Market 2024-2028

The IT service management (ITSM) market is forecasted to grow by USD 11.42 bn during 2023-2028, accelerating at a CAGR of 14.34% during the forecast period. The report on the IT service management (ITSM) market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.

The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The market is driven by enhanced customer and user experience by minimizing impact of service disruptions, effective organizational change management, and real-time organizational transparency into critical processes.

Market Scope
Base Year	2024
End Year	2028
Series Year	2024-2028
Growth Momentum	Accelerate
YOY 2024	10.86%
CAGR	14.34%
Incremental Value	$11.42bn

Technavio's IT service management (ITSM) market is segmented as below:

By Application

CM
ITAM and ITSD
A and PM
NM
Others

By Deployment

Cloud
On-premises

By Geographical Landscape

North America
Europe
APAC
Middle East and Africa
South America

This study identifies the integration of AI and ML with IT service management as one of the prime reasons driving the IT service management (ITSM) market growth during the next few years. Also, growing focus on ITIL 4 framework and increasing adoption of DevOps will lead to sizable demand in the market.

The report on the IT service management (ITSM) market covers the following areas:

ITservice management (ITSM) market sizing
IT service management (ITSM) market forecast
IT service management (ITSM) market industry analysis

The robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading IT service management (ITSM) market vendors that include Atlassian Corp. Plc, BMC Software Inc., Broadcom Inc., Constellation Software Inc., EasyVista SA, Freshworks Inc., Hewlett Packard Enterprise Co., Hornbill Corporate Ltd., IFS World Operations AB, Infosys Ltd., International Business Machines Corp., Ivanti Software Inc., Open Text Corp., ServiceNow Inc., SolarWinds Corp., SysAid Technologies Ltd, TOPdesk, Vivantio Inc., Wipro Ltd., and Zoho Corp. Pvt. Ltd.. Also, the IT service management (ITSM) market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.

The publisher presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. The market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast the accurate market growth.

Product Code: IRTNTR40526

1 Executive Summary

1.1 Market overview
Exhibit 01: Executive Summary - Chart on Market Overview
Exhibit 02: Executive Summary - Data Table on Market Overview
Exhibit 03: Executive Summary - Chart on Global Market Characteristics
Exhibit 04: Executive Summary - Chart on Market By Geographical Landscape
Exhibit 05: Executive Summary - Chart on Market Segmentation by Application
Exhibit 06: Executive Summary - Chart on Market Segmentation by Deployment
Exhibit 07: Executive Summary - Chart on Incremental Growth
Exhibit 08: Executive Summary - Data Table on Incremental Growth
Exhibit 09: Executive Summary - Chart on Vendor Market Positioning

2 Market Landscape

2.1 Market ecosystem
Exhibit 10: Parent market
Exhibit 11: Market Characteristics

3 Market Sizing

3.1 Market definition
Exhibit 12: Offerings of vendors included in the market definition
3.2 Market segment analysis
Exhibit 13: Market segments
3.3 Market size 2023
3.4 Market outlook: Forecast for 2023-2028
Exhibit 14: Chart on Global - Market size and forecast 2023-2028 ($ billion)
Exhibit 15: Data Table on Global - Market size and forecast 2023-2028 ($ billion)
Exhibit 16: Chart on Global Market: Year-over-year growth 2023-2028 (%)
Exhibit 17: Data Table on Global Market: Year-over-year growth 2023-2028 (%)

4 Historic Market Size

4.1 Global IT service management (ITSM) market 2018 - 2022
Exhibit 18: Historic Market Size - Data Table on global it service management (itsm) market 2018 - 2022 ($ billion)
4.2 Application Segment Analysis 2018 - 2022
Exhibit 19: Historic Market Size - Application Segment 2018 - 2022 ($ billion)
4.3 Deployment Segment Analysis 2018 - 2022
Exhibit 20: Historic Market Size - Deployment Segment 2018 - 2022 ($ billion)
4.4 Geography Segment Analysis 2018 - 2022
Exhibit 21: Historic Market Size - Geography Segment 2018 - 2022 ($ billion)
4.5 Country Segment Analysis 2018 - 2022
Exhibit 22: Historic Market Size - Country Segment 2018 - 2022 ($ billion)

5 Five Forces Analysis

5.1 Five forces summary
Exhibit 23: Five forces analysis - Comparison between 2023 and 2028
5.2 Bargaining power of buyers
Exhibit 24: Chart on Bargaining power of buyers - Impact of key factors 2023 and 2028
5.3 Bargaining power of suppliers
Exhibit 25: Bargaining power of suppliers - Impact of key factors in 2023 and 2028
5.4 Threat of new entrants
Exhibit 26: Threat of new entrants - Impact of key factors in 2023 and 2028
5.5 Threat of substitutes
Exhibit 27: Threat of substitutes - Impact of key factors in 2023 and 2028
5.6 Threat of rivalry
Exhibit 28: Threat of rivalry - Impact of key factors in 2023 and 2028
5.7 Market condition
Exhibit 29: Chart on Market condition - Five forces 2023 and 2028

6 Market Segmentation by Application

6.1 Market segments
Exhibit 30: Chart on Application - Market share 2023-2028 (%)
Exhibit 31: Data Table on Application - Market share 2023-2028 (%)
6.2 Comparison by Application
Exhibit 32: Chart on Comparison by Application
Exhibit 33: Data Table on Comparison by Application
6.3 CM - Market size and forecast 2023-2028
Exhibit 34: Chart on CM - Market size and forecast 2023-2028 ($ billion)
Exhibit 35: Data Table on CM - Market size and forecast 2023-2028 ($ billion)
Exhibit 36: Chart on CM - Year-over-year growth 2023-2028 (%)
Exhibit 37: Data Table on CM - Year-over-year growth 2023-2028 (%)
6.4 ITAM and ITSD - Market size and forecast 2023-2028
Exhibit 38: Chart on ITAM and ITSD - Market size and forecast 2023-2028 ($ billion)
Exhibit 39: Data Table on ITAM and ITSD - Market size and forecast 2023-2028 ($ billion)
Exhibit 40: Chart on ITAM and ITSD - Year-over-year growth 2023-2028 (%)
Exhibit 41: Data Table on ITAM and ITSD - Year-over-year growth 2023-2028 (%)
6.5 A and PM - Market size and forecast 2023-2028
Exhibit 42: Chart on A and PM - Market size and forecast 2023-2028 ($ billion)
Exhibit 43: Data Table on A and PM - Market size and forecast 2023-2028 ($ billion)
Exhibit 44: Chart on A and PM - Year-over-year growth 2023-2028 (%)
Exhibit 45: Data Table on A and PM - Year-over-year growth 2023-2028 (%)
6.6 NM - Market size and forecast 2023-2028
Exhibit 46: Chart on NM - Market size and forecast 2023-2028 ($ billion)
Exhibit 47: Data Table on NM - Market size and forecast 2023-2028 ($ billion)
Exhibit 48: Chart on NM - Year-over-year growth 2023-2028 (%)
Exhibit 49: Data Table on NM - Year-over-year growth 2023-2028 (%)
6.7 Others - Market size and forecast 2023-2028
Exhibit 50: Chart on Others - Market size and forecast 2023-2028 ($ billion)
Exhibit 51: Data Table on Others - Market size and forecast 2023-2028 ($ billion)
Exhibit 52: Chart on Others - Year-over-year growth 2023-2028 (%)
Exhibit 53: Data Table on Others - Year-over-year growth 2023-2028 (%)
6.8 Market opportunity by Application
Exhibit 54: Market opportunity by Application ($ billion)
Exhibit 55: Data Table on Market opportunity by Application ($ billion)

7 Market Segmentation by Deployment

7.1 Market segments
Exhibit 56: Chart on Deployment - Market share 2023-2028 (%)
Exhibit 57: Data Table on Deployment - Market share 2023-2028 (%)
7.2 Comparison by Deployment
Exhibit 58: Chart on Comparison by Deployment
Exhibit 59: Data Table on Comparison by Deployment
7.3 Cloud - Market size and forecast 2023-2028
Exhibit 60: Chart on Cloud - Market size and forecast 2023-2028 ($ billion)
Exhibit 61: Data Table on Cloud - Market size and forecast 2023-2028 ($ billion)
Exhibit 62: Chart on Cloud - Year-over-year growth 2023-2028 (%)
Exhibit 63: Data Table on Cloud - Year-over-year growth 2023-2028 (%)
7.4 On-premises - Market size and forecast 2023-2028
Exhibit 64: Chart on On-premises - Market size and forecast 2023-2028 ($ billion)
Exhibit 65: Data Table on On-premises - Market size and forecast 2023-2028 ($ billion)
Exhibit 66: Chart on On-premises - Year-over-year growth 2023-2028 (%)
Exhibit 67: Data Table on On-premises - Year-over-year growth 2023-2028 (%)
7.5 Market opportunity by Deployment
Exhibit 68: Market opportunity by Deployment ($ billion)
Exhibit 69: Data Table on Market opportunity by Deployment ($ billion)

8 Customer Landscape

8.1 Customer landscape overview
Exhibit 70: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

9.1 Geographic segmentation
Exhibit 71: Chart on Market share By Geographical Landscape 2023-2028 (%)
Exhibit 72: Data Table on Market share By Geographical Landscape 2023-2028 (%)
9.2 Geographic comparison
Exhibit 73: Chart on Geographic comparison
Exhibit 74: Data Table on Geographic comparison
9.3 North America - Market size and forecast 2023-2028
Exhibit 75: Chart on North America - Market size and forecast 2023-2028 ($ billion)
Exhibit 76: Data Table on North America - Market size and forecast 2023-2028 ($ billion)
Exhibit 77: Chart on North America - Year-over-year growth 2023-2028 (%)
Exhibit 78: Data Table on North America - Year-over-year growth 2023-2028 (%)
9.4 Europe - Market size and forecast 2023-2028
Exhibit 79: Chart on Europe - Market size and forecast 2023-2028 ($ billion)
Exhibit 80: Data Table on Europe - Market size and forecast 2023-2028 ($ billion)
Exhibit 81: Chart on Europe - Year-over-year growth 2023-2028 (%)
Exhibit 82: Data Table on Europe - Year-over-year growth 2023-2028 (%)
9.5 APAC - Market size and forecast 2023-2028
Exhibit 83: Chart on APAC - Market size and forecast 2023-2028 ($ billion)
Exhibit 84: Data Table on APAC - Market size and forecast 2023-2028 ($ billion)
Exhibit 85: Chart on APAC - Year-over-year growth 2023-2028 (%)
Exhibit 86: Data Table on APAC - Year-over-year growth 2023-2028 (%)
9.6 Middle East and Africa - Market size and forecast 2023-2028
Exhibit 87: Chart on Middle East and Africa - Market size and forecast 2023-2028 ($ billion)
Exhibit 88: Data Table on Middle East and Africa - Market size and forecast 2023-2028 ($ billion)
Exhibit 89: Chart on Middle East and Africa - Year-over-year growth 2023-2028 (%)
Exhibit 90: Data Table on Middle East and Africa - Year-over-year growth 2023-2028 (%)
9.7 South America - Market size and forecast 2023-2028
Exhibit 91: Chart on South America - Market size and forecast 2023-2028 ($ billion)
Exhibit 92: Data Table on South America - Market size and forecast 2023-2028 ($ billion)
Exhibit 93: Chart on South America - Year-over-year growth 2023-2028 (%)
Exhibit 94: Data Table on South America - Year-over-year growth 2023-2028 (%)
9.8 US - Market size and forecast 2023-2028
Exhibit 95: Chart on US - Market size and forecast 2023-2028 ($ billion)
Exhibit 96: Data Table on US - Market size and forecast 2023-2028 ($ billion)
Exhibit 97: Chart on US - Year-over-year growth 2023-2028 (%)
Exhibit 98: Data Table on US - Year-over-year growth 2023-2028 (%)
9.9 UK - Market size and forecast 2023-2028
Exhibit 99: Chart on UK - Market size and forecast 2023-2028 ($ billion)
Exhibit 100: Data Table on UK - Market size and forecast 2023-2028 ($ billion)
Exhibit 101: Chart on UK - Year-over-year growth 2023-2028 (%)
Exhibit 102: Data Table on UK - Year-over-year growth 2023-2028 (%)
9.10 China - Market size and forecast 2023-2028
Exhibit 103: Chart on China - Market size and forecast 2023-2028 ($ billion)
Exhibit 104: Data Table on China - Market size and forecast 2023-2028 ($ billion)
Exhibit 105: Chart on China - Year-over-year growth 2023-2028 (%)
Exhibit 106: Data Table on China - Year-over-year growth 2023-2028 (%)
9.11 Germany - Market size and forecast 2023-2028
Exhibit 107: Chart on Germany - Market size and forecast 2023-2028 ($ billion)
Exhibit 108: Data Table on Germany - Market size and forecast 2023-2028 ($ billion)
Exhibit 109: Chart on Germany - Year-over-year growth 2023-2028 (%)
Exhibit 110: Data Table on Germany - Year-over-year growth 2023-2028 (%)
9.12 India - Market size and forecast 2023-2028
Exhibit 111: Chart on India - Market size and forecast 2023-2028 ($ billion)
Exhibit 112: Data Table on India - Market size and forecast 2023-2028 ($ billion)
Exhibit 113: Chart on India - Year-over-year growth 2023-2028 (%)
Exhibit 114: Data Table on India - Year-over-year growth 2023-2028 (%)
9.13 Market opportunity By Geographical Landscape
Exhibit 115: Market opportunity By Geographical Landscape ($ billion)
Exhibit 116: Data Tables on Market opportunity By Geographical Landscape ($ billion)

10 Drivers, Challenges, and Trends

10.1 Market drivers
10.2 Market challenges
10.3 Impact of drivers and challenges
Exhibit 117: Impact of drivers and challenges in 2023 and 2028
10.4 Market trends

11 Vendor Landscape

11.1 Overview
11.2 Vendor landscape
Exhibit 118: Overview on Criticality of inputs and Factors of differentiation
11.3 Landscape disruption
Exhibit 119: Overview on factors of disruption
11.4 Industry risks
Exhibit 120: Impact of key risks on business

12 Vendor Analysis

12.1 Vendors covered
Exhibit 121: Vendors covered
12.2 Market positioning of vendors
Exhibit 122: Matrix on vendor position and classification
12.3 Atlassian Corp. Plc
Exhibit 123: Atlassian Corp. Plc - Overview
Exhibit 124: Atlassian Corp. Plc - Product / Service
Exhibit 125: Atlassian Corp. Plc - Key offerings
12.4 BMC Software Inc.
Exhibit 126: BMC Software Inc. - Overview
Exhibit 127: BMC Software Inc. - Product / Service
Exhibit 128: BMC Software Inc. - Key offerings
12.5 Broadcom Inc.
Exhibit 129: Broadcom Inc. - Overview
Exhibit 130: Broadcom Inc. - Business segments
Exhibit 131: Broadcom Inc. - Key news
Exhibit 132: Broadcom Inc. - Key offerings
Exhibit 133: Broadcom Inc. - Segment focus
12.6 Constellation Software Inc.
Exhibit 134: Constellation Software Inc. - Overview
Exhibit 135: Constellation Software Inc. - Product / Service
Exhibit 136: Constellation Software Inc. - Key offerings
12.7 EasyVista SA
Exhibit 137: EasyVista SA - Overview
Exhibit 138: EasyVista SA - Product / Service
Exhibit 139: EasyVista SA - Key offerings
12.8 Freshworks Inc.
Exhibit 140: Freshworks Inc. - Overview
Exhibit 141: Freshworks Inc. - Product / Service
Exhibit 142: Freshworks Inc. - Key offerings
12.9 IFS World Operations AB
Exhibit 143: IFS World Operations AB - Overview
Exhibit 144: IFS World Operations AB - Product / Service
Exhibit 145: IFS World Operations AB - Key offerings
12.10 International Business Machines Corp.
Exhibit 146: International Business Machines Corp. - Overview
Exhibit 147: International Business Machines Corp. - Business segments
Exhibit 148: International Business Machines Corp. - Key news
Exhibit 149: International Business Machines Corp. - Key offerings
Exhibit 150: International Business Machines Corp. - Segment focus
12.11 Ivanti Software Inc.
Exhibit 151: Ivanti Software Inc. - Overview
Exhibit 152: Ivanti Software Inc. - Product / Service
Exhibit 153: Ivanti Software Inc. - Key offerings
12.12 Open Text Corp.
Exhibit 154: Open Text Corp. - Overview
Exhibit 155: Open Text Corp. - Product / Service
Exhibit 156: Open Text Corp. - Key news
Exhibit 157: Open Text Corp. - Key offerings
12.13 ServiceNow Inc.
Exhibit 158: ServiceNow Inc. - Overview
Exhibit 159: ServiceNow Inc. - Product / Service
Exhibit 160: ServiceNow Inc. - Key news
Exhibit 161: ServiceNow Inc. - Key offerings
12.14 SolarWinds Corp.
Exhibit 162: SolarWinds Corp. - Overview
Exhibit 163: SolarWinds Corp. - Product / Service
Exhibit 164: SolarWinds Corp. - Key offerings
12.15 SysAid Technologies Ltd
Exhibit 165: SysAid Technologies Ltd - Overview
Exhibit 166: SysAid Technologies Ltd - Product / Service
Exhibit 167: SysAid Technologies Ltd - Key offerings
12.16 Wipro Ltd.
Exhibit 168: Wipro Ltd. - Overview
Exhibit 169: Wipro Ltd. - Business segments
Exhibit 170: Wipro Ltd. - Key news
Exhibit 171: Wipro Ltd. - Key offerings
Exhibit 172: Wipro Ltd. - Segment focus
12.17 Zoho Corp. Pvt. Ltd.
Exhibit 173: Zoho Corp. Pvt. Ltd. - Overview
Exhibit 174: Zoho Corp. Pvt. Ltd. - Product / Service
Exhibit 175: Zoho Corp. Pvt. Ltd. - Key offerings

13 Appendix

13.1 Scope of the report
13.2 Inclusions and exclusions checklist
Exhibit 176: Inclusions checklist
Exhibit 177: Exclusions checklist
13.3 Currency conversion rates for US$
Exhibit 178: Currency conversion rates for US$
13.4 Research methodology
Exhibit 179: Research methodology
Exhibit 180: Validation techniques employed for market sizing
Exhibit 181: Information sources
13.5 List of abbreviations
Exhibit 182: List of abbreviations