Cloud ITSM Market Analysis by Component, Size, Share, Vertical, Regions, Competition Forecast 2025

Global cloud ITSM market is expected to witness significant growth during the forecast period. The key factor responsible for driving the market growth is enhanced implementation of cloud-based technologies as it is helping the organisations to save certain percentage of annual operating costs. Additionally, rise in demand among the end users is further anticipated to boost the growth of cloud ITSM market worldwide. Moreover, continuous improvement in technology is further expected to bolster the market growth through 2025.

The global cloud ITSM market is segmented based on component, vertical, organization size, region and company. Based on component, the market can be segmented into solutions and services. Out of which, the services segment dominated the market in terms of largest market share until 2019 and is further anticipated to be the fastest-growing segment of the cloud ITSM market during the forecast years as well. The service segment is further categorized into managed services and professional services. Out of which, the managed services segment is forecast to register highest growth during the next five years. This growth can be accredited to technical skills it offers, that are needed to maintain as well as update all the software in the cloud ITSM ecosystem. Along with that, these services provide end-users with software, which are configured to their needs to help at each step of software usage, which is further boosting the growth of the segment across the globe. In addition to this, all pre and post-deployment queries and requirements of the clients are addressed under managed services.

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Major players operating in the global cloud ITSM market include ServiceNow, BMC Software, Cherwell Software, CA Technologies, HPE, IBM, Axios Systems, Ivanti, Citrix Systems, Hornbill, Microsoft, EasyVista, Micro Focus, Atlassian, Alemba, SysAid, Freshworks, LogMein, ManageEngine, Efecte, etc. The companies operating in cloud ITSM market across the globe are focussing more towards the expanding their share in the market. For instance, these key players are making organic strategies such as expansions, mergers and acquisitions, among others in order to make the industry highly competitive. 

Years considered for this report:

  • Historical Years: 2015-2018                                                                         
  • Base Year: 2019
  • Estimated Year: 2020
  • Forecast Period: 2021–2025

Objective of the Study:

  • To analyse and forecast the market size of global cloud ITSM market.
  • To classify and forecast global cloud ITSM market based on component, vertical, organization size, company and regional distribution.
  • To identify drivers and challenges for global cloud ITSM market.
  • To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in global cloud ITSM market.
  • To conduct pricing analysis for global cloud ITSM market.
  • To identify and analyse the profile of leading players operating in global cloud ITSM market.


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TechSci Research performed both primary as well as exhaustive secondary research for this study. Initially, TechSci Research sourced a list of service providers across the globe. Subsequently, TechSci Research conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, TechSci Research could include the service providers which could not be identified due to the limitations of secondary research. TechSci Research analyzed the new services and presence of all major players across the globe.

TechSci Research calculated the market size of global cloud ITSM market using a bottom-up approach, wherein data for various end-user segments was recorded and forecast for the future years. TechSci Research sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of these product types and applications for getting an appropriate, overall market size. Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also studied by TechSci Research.


Key Target Audience:

  • Cloud ITSM service providers, vendors and other stakeholders
  • Government bodies such as regulating authorities and policy makers
  • Organizations, forums and alliances related to cloud ITSM
  • Market research and consulting firms 

The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as service providers, partners, end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.

About TechSci Research

TechSci Research is a leading global market research firm publishing premium market research reports. Serving 700 global clients with more than 600 premium market research studies, TechSci Research is serving clients across 11 different industrial verticals. TechSci Research specializes in research-based consulting assignments in high growth and emerging markets, leading technologies and niche applications. Our workforce of more than 100 fulltime Analysts and Consultants employing innovative research solutions and tracking global and country specific high growth markets helps TechSci clients to lead rather than follow market trends.

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