Cloud Information Technology Service Management (ITSM) Market Global Insights and Business Outlook 2021 to 2026

The Global Cloud Information Technology Service Management (ITSM) Market Research Report Forecast 2020 – 2025 is a valuable source of insightful data for business strategists. It provides the industry overview with growth analysis and historical & futuristic cost, revenue, demand, and supply data (as applicable). The report also takes into account the impact of the novel COVID-19 pandemic on the Cloud Information Technology Service Management (ITSM) market and offers a clear assessment of the projected market fluctuations during the forecast period. The research analysts provide an elaborate description of the value chain and its distributor analysis. This Market study provides comprehend Cloud Information Technology Service Management (ITSM) data that enhances the understanding, scope, and application of this report.

The Cloud ITSM (Information Technology Service Management) Market is expected to register a CAGR of 12.38% over the forecast period from 2020 to 2025.

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 Top Key Players in the Global Cloud Information Technology Service Management (ITSM) Market are BMC Software Inc., SreviceNow Inc. and others.

– May 2020 – ServiceNow formed a partnership with Carahsoft Technology Corp. to provide ITSM tools to the government. ServiceNow’s scalable solutions are modified to meet central data reporting mandates and adhere to FedRAMP High-security controls. Its automated workflow capabilities enable the DoD to seamlessly move data, including controlled unclassified and personally identifiable information, to the cloud.

– March 2020 – BMC announced that Shared Services Canada (SSC) had selected the company’s Remedy ITSM solution to increase the pace of the Government of Canada’s adoption of standardized enterprise ITSM processes. Moreover, as the Government of Canada continues to move ahead with its cloud-first direction, SSC could take advantage of these ITSM capabilities as-a-service while transitioning to the BMC Helix ITSM offering in the future.

Key Market Trends:

IT and Telecom is Expected to Hold Major Share

– Modernizing cloud-based IT service management for the IT & telecom sector is an evolved approach. Thus, consolidating the way data is captured, analyzed, and shared across the enterprises, while providing an improved experience for both internal IT employees and external constituents. The small-sized IT organizations could quickly adopt cloud ITSM as it doesn’t have the time or resources to support an extended implementation project to install an ITSM system. Cloud-based options could be within a few hours or days instead of the weeks or months required for most on-premise solutions.

– Moreover, IT companies are focusing on adopting ITSM, with the increasing demand across the cloud-based models. With this growing adoption of cloud-based ecosystems, companies have expanded their partnership through new offerings across the cloud platform. Cloud-based ITSM solutions are designed to support IT and Telecom organizations of various sizes and to support organizations changing sizes. Shared infrastructure, security, provisioning models, usage-based billing, and standard APIs to integrate with other systems enable the ITSM system to grow with the company.

– To make Cloud-based ITSM solutions usable to a diverse IT and Telecom organizations, they are built around industry-standard processes and practices such as ITIL and come with pre-configured metrics and reporting capabilities to enable management to monitor the performance of the service management processes. Intuitive user interfaces, out-of-box methods, and readily available training materials make cloud-based ITSM solutions easy for IT and business users to learn quickly.

– BMC multi-cloud management solutions help to optimize current IT systems while ensuring a secure, cost-effective transition to the cloud. BMC helix multi-cloud service management enables brokering of incidents and changes directly between helix remedy and third-party cloud service providers. It offers a broad set of deployment and licensing options, including SaaS, co-sell partnerships with public cloud providers, Amazon Web Services, and Azure. Videotron which one of the significant Canadian telecommunications providers with over 7,000 employees leveraged BMC solutions to improve service management.                  

Highlights of TOC:

Market Overview: It starts with product overview and scope of the global Cloud Information Technology Service Management (ITSM) market and later gives consumption and production growth rate comparisons by application and product respectively. It also includes a glimpse of the regional study and Cloud Information Technology Service Management (ITSM) market size analysis for the review period 2015-2025.

Company Profiles: Each company profiled in the report is assessed for its market growth keeping in view vital factors such as price, Cloud Information Technology Service Management (ITSM) market gross margin, revenue, production, markets served, main business, product specifications, applications, and introduction, areas served, and production sites.

Manufacturing Cost Analysis: It includes industrial chain analysis, manufacturing process analysis, the proportion of manufacturing cost structure, and the analysis of key raw materials.

Market Dynamics: Readers are provided with a comprehensive analysis of Cloud Information Technology Service Management (ITSM) market challenges, influence factors, drivers, opportunities, and trends.

Market Forecast: Here, the Cloud Information Technology Service Management (ITSM) report provides consumption forecast by application, price, revenue, and production forecast by product, consumption forecast by region, production forecast by region, and production and revenue forecast.

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Note: All the reports that we list have been tracking the impact of COVID-19 the market. Both upstream and downstream of the entire supply chain has been accounted for while doing this. Also, where possible, we will provide an additional COVID-19 update supplement/report to the report in Q3, please check for with the sales team.

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