Cloud ITSM Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 - 2028

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Cloud ITSM Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 - 2028

Status : October, 2020 | Technology & Media | PPT format

Report Digest


Global Cloud ITSM Market: Overview 

The growth of the global cloud ITSM market is growing on account of advancements in the organizational structure of large MNCs. The advent of next-generation platforms for employee management and information sourcing has necessitated the need for IT platforms.  As companies embrace digital transformations, the need for cloud-based platforms has become indispensable. Moreover, the high reliance of large firms on IT systems and technologies has created a boatload of possibilities for market growth. The unprecedented requirement for managing the complexities of organizations has also given a thrust to market growth. Henceforth, it is safe to expect that the global cloud ITSM market would accumulate large-scale revenues in the years to follow. 

A syndicate review by TMR Research (TMR) outlines several key dynamics pertaining to the global cloud ITSM market. The global cloud ITSM market can be segmented on the basis of end-user, application, service-type, and region. On the basis of application, the demand for cloud ITSM for managing hierarchical structures across organizations has aided market growth. 

Global Cloud ITSM Market: Notable Developments 

The growth of digitalization across multiple industries has paved way for multiple developments across the global cloud ITSM market. 

ServiceNow provides value-added services for cloud ITSM, and has emerged as a key vendor in the market. The agility and speed of cloud ITSM services provided by the company have helped it in attracting a large consumer base. Furthermore, the success stories of the company’s services have played an integral role in its popularity. A number of businesses that previously underscored ServiceNow’s services have now become regular consumers to the company. 

The need for developing a strong net of security across large businesses has played to the advantage of the market players. The market vendors are focusing on developing effective cloud-based solutions that can help in garnering the attention of the masses. It is also true that the need for improved monitoring of stored data is an indispensable requirement across large companies.

Some of the leading vendors in the global cloud ITSM market are:

  • Cherwell Software (US)
  • CA Technologies (US)
  • Ivanti (US)
  • Hornbill (UK)
  • Citrix Systems (US)
  • Axios Systems 

Global Cloud ITSM Market: Growth Drivers

  • Rising Incidence of Cyber Attacks

The need for a common portal to access sharable information has necessitated the presence of cloud hosting platforms. There is tremendous demand for securing key assets and information of companies, individuals, and entities. Information stored on hardware devices is at a risk of being lost to cyberattacks and unanticipated system failures. Hence, cloud ITSM has emerged as a panacea for the commercial and industrial sectors. The rapid digitalization of processes within key industries is a key standpoint from the perspective of market growth. Moreover, rising incidence of cyberattacks and intrusions have also driven companies towards the use of cloud ITSM platforms. 

  • Business Growth and Corporate Ethics 

There is a large playfield of opportunities floating in the global cloud ITSM market. The market vendors are projected to tie up with large business units in order to develop a permanent consumer base. Moreover, the relentless efforts made by government authorities to standardize business processes has also aided market growth. State-level planning authorities have been quick to adopt digital platforms for accelerated integration of key services. Besides, development of databases for analytic testing across business entities has also driven market demand.

This study provides a particularized anatomy according to the L.E.A.P mechanism

  • Latest trends and cardinal growth prospects
  • Existing and future insights in growth
  • Ascensions in technology
  • Pain points

The regional analysis offers market assays across:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The study, prepared through the L.E.A.P mechanism adds a dimension of infallibility and assures precise information on all the growth dynamics.

Latest Trends and Cardinal Growth Prospects

The study assists in burnishing the knowledge of the stakeholder in terms of the emerging trends. The study provides an expansive coverage on the latest developments and novel profit-yielding sources that augur well with the market. A dedicated and determined team of experts conduct an out-and-out research on diverse aspects to offer ultimate breakthroughs in the market.

Existing and Future Insights in Growth

The interfusion of ubiquitous primary and secondary research through modern tools invites perfection and accuracy in every aspect. Primary research is circumspectly conducted through exhaustive interactions and interviews of experts. These valuable opinions are then neatly inducted in the report to allow the stakeholder for reaping the benefits. A treasure of secondary data is extracted via famed paid sources, yearly estimates and statements, renowned journals, and government documents. These sources assist in creating a robust database comprising existing and subsequent growth dynamics.

Ascensions in Technology

Diverse technological advancements and cutting-edge innovations in the market have been covered in this study to assist the stakeholder in research and development activities. Recent upgrades have also been added in the study, thus helping the stakeholder to paint the strokes of growth on the canvas of the market.

Pain Points

The study presents a plethora of challenges and obstacles that can hinder the growth of the market to allow the stakeholder to prepare their strategies accordingly.

The world ushered in the new decade with the shadow of the COVID-19 pandemic. The outbreak has damaged the growth prospects of several businesses and has crippled the entire economy. The study is in tandem with the changing dynamics of the market due to the SARS-CoV-2 outbreak. The study focuses on the coronavirus pandemic and analyses every aspect that impacts the growth positively or negatively.

An aerial perspective of the regions covered in this study enables the stakeholder to design strategies accordingly. The 360-degree assessment of every aspect associated with growth offers information on a rainbow of growth opportunities available across the market.

The exhaustive study motivates the stakeholder to take the 'LEAP' of faith and achieve success!

This report is the key to questions such as:

What are the prominent factors that will help in reshaping the market growth?

Which trends have the potential to bring expansive growth for the market?

What are the necessary strategies to overcome the ill-effects of the COVID-19 pandemic?

Which regions will emerge as champion growth contributors for the market?

Which aspects will serve as game-changers for the market?

What are the latest innovations in the market?

Which factors will hinder the growth of the market?