Cloud IT Service Management (Cloud ITSM) Market Expected to Grow at


Pune, April 25, 2022 (GLOBE NEWSWIRE) — IT Service Management (ITSM) is a set of principles and procedures for more effective implementation, delivery and management of IT services to achieve business objectives. All actions involved in planning, designing, delivering, executing, and controlling IT and cloud services provided to customers are referred to as cloud IT service management. Implementing IT service management solutions in the cloud enables businesses to better manage their IT services through structured delivery and documentation, reduce costs, and gain actionable IT insights for decision-making. AI-powered cloud IT service management solutions automate workflows and reduce manual processes, resulting in a more efficient, compliant, and secure organization.

Global ITSM Cloud Market was valued at USD 5.32 Billion in 2021 and is projected to grow at a CAGR of 22.3% from 2022 to 2030.

Regional analysis

The global cloud IT service management market is expected to generate considerable revenue in North America, Europe, Asia-Pacific and the rest of the world during the forecast period. Everything has been studied about the Cloud IT Service Management Market. The North America region includes the United States and Canada. The United Kingdom, Germany, France and the rest of Europe constitute Europe. Asia Pacific includes China, Japan, India and Rest of Asia Pacific.

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Profiled Key Companies

  • Atlassian Corporation PLC (Australia)
  • Axios Systems (US)
  • BMC Software, Inc. (USA)
  • CA Technologies (USA),
  • Cherwell software (USA)
  • Freshworks, Inc. (USA)
  • Hornbill Corporate Limited (UK)
  • Hewlett Packard Enterprise Development LP (US)
  • IBM Corporation (USA)
  • Ivanti (USA),
  • ManageEngine (India)
  • Micro Focus (UK)
  • Microsoft Corporation (USA)
  • ServiceNow, Inc. (USA)

Supplier evaluation

The vendor assessment includes an in-depth analysis of how the vendors meet the demand in the Cloud IT Service Management (Cloud ITSM) market. The MDC Competetive Scape model was used to assess the qualitative and quantitative information for this assessment. MDC’s Competitive Scape is a structured method to identify key players and describe their strengths, relevant characteristics and outreach strategy. MDC’s Competitive Scape enables organizations to analyze the environmental factors that influence their business, set goals and identify new marketing strategies. MDC Research analysts conduct in-depth investigation into solutions, services, programs, marketing, organization size, geographic focus, organization type, and vendor strategies.

Technology Assessment

Technology has a huge impact on business productivity, growth and efficiency. Technologies can help companies develop competitive advantages, but choosing them can be one of the most demanding decisions for companies. Technology assessment helps organizations understand their current technology situation and offers them a roadmap towards which they might want to evolve and grow their business. A well-defined process for evaluating and selecting technology solutions can help organizations reduce risk, achieve their goals, identify the problem, and fix it the right way. Technology assessment can help companies identify which technologies to invest in, meet industry standards, and compete with competitors.

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Business ecosystem analysis

Advances in technology and digitalization have changed the way companies do business; the business ecosystem concept helps companies understand how to thrive in this changing environment. Business ecosystems offer organizations the opportunity to integrate technology into their day-to-day business operations and improve their research and business skills. The business ecosystem comprises a network of interconnected businesses that compete and cooperate to increase sales, improve profitability, and succeed in their markets. An ecosystem analysis is a business network analysis that includes the relationships between suppliers, distributors, and end users in the delivery of a product or service.

Regions and countries covered

North America (US, Canada), Europe (Germany, UK, France, Spain, Italy and Rest of Europe), Asia-Pacific (Japan, China, Australia, India, Rest of Asia- Pacific) and Rest of the World (Row)

Report cover

Cloud IT Service Management (Cloud ITSM) Market Dynamics, Impact of Covid-19 on Cloud IT Service Management (Cloud ITSM) Market, Vendor Profiles, Vendor Assessment, Strategies, technology assessment, product mapping, industry outlook, economic analysis, segmental analysis, Cloud IT Service Management (Cloud ITSM) Market Sizing, analysis charts.

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Supplier Profiles Covered

All major Tier 1, 2 and 3 companies are covered in this Cloud IT Service Management (Cloud ITSM) Market Report (25 Vendor Profiles)

Answers to key questions in this report:

  • What is the potential of the Cloud IT Service Management (Cloud ITSM) market?
  • What is the impact of COVID-19 on the Global Cloud IT Service Management (Cloud ITSM) Market?
  • What are the key strategies adopted by companies in the Cloud IT Service Management (Cloud ITSM) market?
  • What are the challenges faced by SMEs and major vendors in the Cloud IT Service Management (Cloud ITSM) market?
  • Which region has the highest investments in the Cloud IT Service Management (Cloud ITSM) market?
  • What is the latest research and activity for the Cloud IT Service Management (Cloud ITSM) Market?
  • Who are the key players in the Cloud IT Service Management (Cloud ITSM) market?
  • What is the potential of the Cloud IT Service Management (Cloud ITSM) market?

Additional vendor profiles can be added based on customer business needs

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