Cloud-Based ITSM Market – Worldwide Growth Opportunities Projected for 2022

Cloud-based ITSM is an instant opportunity to flexibly and quickly deliver the business-facilitating IT services at reduced cost. The report “Global Cloud-Based ITSM Market Research Report - Industry Analysis, Size, Share, Growth, Trends and Forecast” by DecisionDatabases.com covers the analysis of the titanium dioxide market using analytical tools such as Porter’s Five Forces Model. It provides the value chain analysis, market attractiveness analysis, and company share analysis along with key player’s complete profiles.
 
Expanding mobile workforce, evolving advanced technologies such as IoT and subscription-based charging facility are major growth drivers, which are anticipated to fuel demand for cloud-based ITSM market over the coming years. Over the past few years, rising adoption of BYOD (bring-your-own-device) policy in various verticals such as enterprises, reporting, dashboard, & analytics solutions along with the increasing preference for easy deployment & agile implementation will further aid to the market growth in the near future. Increasing requirement for remote solutions to be accessed from anywhere and rising demand for cost effective & flexible solution for better consumer satisfaction will have a positive impact on the market penetration for the cloud-based solution across the globe. Recently, cloud-based ITSM solution has gained a lot of publicity and has been a rising enterprise acceptance with SaaS (software as a service), which in turn will augment market demand in the forthcoming years. However, certain security & privacy issues associated with the cloud computing and rising need for high network bandwidth are major restraints, which can negatively impact the growth of the market over the forecast period.

The global cloud-based ITSM market has been segmented based on services into professional services and managed services. The cloud-based ITSM market has been further segmented based on organization size into small and medium enterprises (SMEs) and large enterprises. Furthermore, the cloud-based ITSM market has been segmented based on industry vertical into banking, financial services, and insurance, healthcare and life sciences, telecom and IT , retail and consumer packaged goods, energy and utilities , government and public sector, travel, and hospitality, manufacturing, education and others. The telecom and IT is a leading industry vertical and is expected to witness a double-digit growth in the study period owing to the increased usage of tablets & smartphones across IT organizations globally.

North America is a major market for cloud-based solutions and is projected to continue its dominance during the forecast period on account of rising adoption of BYOD policy for employee satisfaction, cost effectiveness, and enhanced productivity in the region. In addition presence of a large number of key vendors will further support the positive growth of the market. Latin America is also expected to grow at a significant rate over the coming years due to rising emphasis on CRM (customer relationship management) to differentiate from the competitors and increasing technological penetration in the region.

The major players include BMC Software, Inc., CA Technologies, ServiceNow, Inc., Cherwell Software, LLC, Hewlett Packard Enterprise Company, Citrix Systems, Inc., Axios Systems PLC, IBM Corporation, Heat Software USA, Inc. and Hornbill Corporate Limited.
 
In Oct 2012, Hewlett-Packard Enterprise Company launched a cloud-based ITSM desk solution, the HP Service Anywhere, to enhance productivity while delivering and managing high-quality services.
In Jan 2014, Efecte has introduced a cloud-based ITSM solution “Efecte ITSM Cloud” to offer an efficient device management technology.
 In Feb 2016, CA Technologies launched its new CA Cloud Service to provide enterprises with a no-code approach to IT services.
   
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