Market Overview:
The global IT operations and service management (ITOSM) market is expected to grow from USD 9.02 billion in 2018 to USD 16.06 billion by 2030, at a CAGR of 7.0% from 2018 to 2030. The growth of the ITOSM market can be attributed to the increasing demand for cloud-based services, big data and analytics, and mobility solutions; growing need for improved business efficiency and agility; rising trend of digital transformation; and increasing adoption of IoT-enabled devices across enterprises. However, lack of standardization across different regions may restrain the growth of the ITOSM market during the forecast period. The ITSM segment is expected to hold a larger share than the ITOM segment in terms of revenue contribution during the forecast period. The ITSM segment is projected to grow at a higher CAGR than the ITOM segment from 2018 to 2030 owing to its ability manage various aspects related with technology infrastructure such as service desk operations, change management process, asset management etc.
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Product Definition:
IT Operations and Service Management (ITOSM) is the practice of organizing, managing, and delivering information technology services in a controlled and effective manner. The goal of IT Operations and Service Management (ITOSM) is to ensure that the organization's information systems are available when needed and operated in a secure, efficient, and cost-effective manner.
ITSM:
ITSM is the part of IT that involves processes and systems such as order management, inventory control, product configuration management, order fulfillment and shipping. The market for itsm is expected to grow at a CAGR of XX% in near future owing to increasing demand from small & medium enterprises (SMEs) due to cost benefits offered by them in comparison with large enterprises.
ITOM:
ITOM is an automated process-based method for the management of IT operations. It helps in improving business value by reducing cost and time associated with the management of IT services and products. The key drivers responsible for market growth include increasing demand from small & medium enterprises, growing need to reduce operational costs, focus on core competencies, etc.
Application Insights:
The retail/wholesale/distribution application segment led the global ITOSM market in 2017. The growth can be attributed to the increasing digitalization of distribution channels and growing demand for on-demand services. Furthermore, an effective supply chain management is crucial in this industry as it affects the profitability of a business. As a result, companies are adopting IT solutions to improve their operations and gain competitive advantages over rivals.
ITSM offers solutions such as asset optimization, software deployment & maintenance, system monitoring & diagnostics, disaster recovery planning & mitigation that enable organizations to achieve optimal performance from their technology infrastructure while improving overall business efficiency and effectiveness across all departments within an organization thus driving its adoption across various industries worldwide.
Regional Analysis:
The North American region dominated the global market in 2017. The growth can be attributed to the increasing adoption of automation across various industries, such as manufacturing, BFSI, healthcare/medical/pharmaceutical and government. Furthermore, an increase in cloud-based services has led to a significant rise in demand for ITOSM solutions across all these sectors. Moreover high investments in R&D activities by prominent players are paving way for innovative products that would help streamline business operations and deliver better results with reduced costs.
Asia Pacific is expected to emerge as the fastest-growing regional market over the forecast period owing to several factors such as growing economies & population along with increasing disposable income levels especially among middle class groups driving retail sales and consumer electronics product launches which would subsequently boost service management requirements of telecom companies operating these systems at their network edge locations throughout this region thereby propelling industry growth over the next eight years at a CAGR of XX%.
Growth Factors:
- Increased demand for cloud-based services: The growth of cloud-based services is one of the key drivers for the ITOSM market. Cloud computing helps organizations to reduce costs and improve efficiency by outsourcing infrastructure and software requirements to a third party. This has led to an increase in the adoption of cloud-based services, which in turn is driving the growth of the ITOSM market.
- Emergence of big data and analytics: The growth of big data and analytics is another major driver for the ITOSM market. Big data refers to large volumes of unstructured data that cannot be processed using traditional database management tools. Big data can be analyzed to reveal insights that can help organizations make better decisions about their business operations. This has led to an increase in demand for big data solutions, which is driving the growth of the ITOSM market.
Scope Of The Report
Report Attributes
Report Details
Report Title
IT Operations and Service Management (ITOSM) Market Research Report
By Type
ITSM, ITOM
By Application
BFSI, Telecom and IT, Government, Healthcare/Medical/Pharmaceutical, Aerospace/Defense, Retail/Wholesale/Distribution, Manufacturing, Education, Others
By Companies
Microsoft Corporation, BMC Software, Oracle, IBM, HP, Broadcom, Dell
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
183
Number of Tables & Figures
129
Customization Available
Yes, the report can be customized as per your need.
Global IT Operations and Service Management (ITOSM) Market Report Segments:
The global IT Operations and Service Management (ITOSM) market is segmented on the basis of:
Types
ITSM, ITOM
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
BFSI, Telecom and IT, Government, Healthcare/Medical/Pharmaceutical, Aerospace/Defense, Retail/Wholesale/Distribution, Manufacturing, Education, Others
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Microsoft Corporation
- BMC Software
- Oracle
- IBM
- HP
- Broadcom
- Dell
 Market Overview.svg)
Highlights of The IT Operations and Service Management (ITOSM) Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- ITSM
- ITOM
- By Application:
- BFSI
- Telecom and IT
- Government
- Healthcare/Medical/Pharmaceutical
- Aerospace/Defense
- Retail/Wholesale/Distribution
- Manufacturing
- Education
- Others
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the IT Operations and Service Management (ITOSM) Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
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- Correctly Positioning New Products
- Market Entry Strategies
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
ITOSM is a field of study that focuses on the management and operation of information technology systems. It includes topics such as system design, implementation, maintenance, and security. ITOSM professionals typically work in positions such as system administrators, network engineers, or software developers.
Some of the key players operating in the it operations and service management (itosm) market are Microsoft Corporation, BMC Software, Oracle, IBM, HP, Broadcom, Dell.
The it operations and service management (itosm) market is expected to register a CAGR of 7%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 IT Operations and Service Management (ITOSM) Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 IT Operations and Service Management (ITOSM) Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 IT Operations and Service Management (ITOSM) Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the IT Operations and Service Management (ITOSM) Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global IT Operations and Service Management (ITOSM) Market Size & Forecast, 2020-2028
4.5.1 IT Operations and Service Management (ITOSM) Market Size and Y-o-Y Growth
4.5.2 IT Operations and Service Management (ITOSM) Market Absolute $ Opportunity
Chapter 5 Global Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Market Size Forecast by Type
5.2.1 ITSM
5.2.2 ITOM
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Market Size Forecast by Applications
6.2.1 BFSI
6.2.2 Telecom and IT
6.2.3 Government
6.2.4 Healthcare/Medical/Pharmaceutical
6.2.5 Aerospace/Defense
6.2.6 Retail/Wholesale/Distribution
6.2.7 Manufacturing
6.2.8 Education
6.2.9 Others
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global IT Operations and Service Management (ITOSM) Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 IT Operations and Service Management (ITOSM) Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Analysis and Forecast
9.1 Introduction
9.2 North America Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Market Size Forecast by Type
9.6.1 ITSM
9.6.2 ITOM
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Market Size Forecast by Applications
9.10.1 BFSI
9.10.2 Telecom and IT
9.10.3 Government
9.10.4 Healthcare/Medical/Pharmaceutical
9.10.5 Aerospace/Defense
9.10.6 Retail/Wholesale/Distribution
9.10.7 Manufacturing
9.10.8 Education
9.10.9 Others
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Analysis and Forecast
10.1 Introduction
10.2 Europe Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Market Size Forecast by Type
10.6.1 ITSM
10.6.2 ITOM
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Market Size Forecast by Applications
10.10.1 BFSI
10.10.2 Telecom and IT
10.10.3 Government
10.10.4 Healthcare/Medical/Pharmaceutical
10.10.5 Aerospace/Defense
10.10.6 Retail/Wholesale/Distribution
10.10.7 Manufacturing
10.10.8 Education
10.10.9 Others
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Market Size Forecast by Type
11.6.1 ITSM
11.6.2 ITOM
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Market Size Forecast by Applications
11.10.1 BFSI
11.10.2 Telecom and IT
11.10.3 Government
11.10.4 Healthcare/Medical/Pharmaceutical
11.10.5 Aerospace/Defense
11.10.6 Retail/Wholesale/Distribution
11.10.7 Manufacturing
11.10.8 Education
11.10.9 Others
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Analysis and Forecast
12.1 Introduction
12.2 Latin America Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Market Size Forecast by Type
12.6.1 ITSM
12.6.2 ITOM
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Market Size Forecast by Applications
12.10.1 BFSI
12.10.2 Telecom and IT
12.10.3 Government
12.10.4 Healthcare/Medical/Pharmaceutical
12.10.5 Aerospace/Defense
12.10.6 Retail/Wholesale/Distribution
12.10.7 Manufacturing
12.10.8 Education
12.10.9 Others
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Market Size Forecast by Type
13.6.1 ITSM
13.6.2 ITOM
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Market Size Forecast by Applications
13.10.1 BFSI
13.10.2 Telecom and IT
13.10.3 Government
13.10.4 Healthcare/Medical/Pharmaceutical
13.10.5 Aerospace/Defense
13.10.6 Retail/Wholesale/Distribution
13.10.7 Manufacturing
13.10.8 Education
13.10.9 Others
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 IT Operations and Service Management (ITOSM) Market: Competitive Dashboard
14.2 Global IT Operations and Service Management (ITOSM) Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Microsoft Corporation
14.3.2 BMC Software
14.3.3 Oracle
14.3.4 IBM
14.3.5 HP
14.3.6 Broadcom
14.3.7 Dell
