Global Information Technology Service Management Market is valued at approximately XX in 2021 and is anticipated to grow with a healthy growth rate of more than xx% over the forecast period 2022-2028. ITSM (Information Technology Service Management) refers to all IT-related operations such as building, delivering, supporting and managing customised solutions that are implemented to accomplish the business goals of IT organisations. With the rapid growth of technology, telecom companies are constantly concentrating on innovation. As a result, they are concentrating on modernising their infrastructure while providing cutting-edge solutions to support their consumers, such as innovation, customer service, infrastructure setup, and human resources. Furthermore, telecom firms benefit from the installation of ITSM solutions by gaining unified insight into invoices, spending, usage, and assets across their whole communications, cloud, and software licence portfolio. As a result, overall costs are reduced and productivity is increased, mostly through improved visibility, while a finely tuned set of processes is provided to manage the current IT infrastructure. Furthermore, with the increasing demand for cloud-based models, IT businesses are focused on embracing ITSM. Companies have expanded their cooperation through new services across the cloud platform as the usage of cloud-based ecosystems has grown. Tata Communications announced the launch of Tata Communications GlobalRapide in November 2021, an end-to-end managed unified communications as a service (UCaaS) that enables organisations to provide technologically advanced, sophisticated, and intelligent collaborative experiences for employees. With this new ITSM, Tata Communications becomes a one-stop shop for all worldwide organisations' digital-first, cloud-first unified communications needs. According to 5G Americas, 5G subscription growth will continue into the foreseeable future, with 3 billion subscriptions predicted by 2025. This comprises 600 million subscribers between 2023 and 2024, as well as from 2024 to 2025.

The key regions considered for the global Information Technology Service Management market study include Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America, which includes the United States and Canada, has the largest market share. The businesses in that region are well-known for providing cost-effective ITSM solutions. They are also known for providing platforms for software applications, allowing developers to focus on developing and building customised IT solutions based on the requirements. Whereas The Asia Pacific region is predicted to grow rapidly in the forecasted time provided sophisticated IT services and technology are implemented correctly. By the conclusion of the anticipated period, there will be several chances for service providers.

Major market players included in this report are:

Atlassian Corporation Plc

Axios Systems

BMC Software, Inc.

Broadcom Inc.

Freshworks Inc.

Micro Focus International Plc

IBM Corporation

Ivanti Inc.

ServiceNow Inc.

ASG Technologies Group, Inc.

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Deployment:

Cloud

On-premise

By Application:

Configuration Management

Performance Management

Network Management

Database Management System

Other Applications

By End-user Industry:

BFSI

Manufacturing

Government and Education

IT and Telecommunication

Retail

Travel and Hospitality

Healthcare

Other End-user Industries

By Region:

North America

U.S.

Canada

Europe

UK

Germany

France

Spain

Italy

ROE

Asia Pacific

China

India

Japan

Australia

South Korea

RoAPAC

Latin America

Brazil

Mexico

Rest of the World

Furthermore, years considered for the study are as follows:

Historical year - 2018, 2019, 2020

Base year - 2021

Forecast period - 2022 to 2028

Target Audience of the Global Information Technology Service Management Market in Market Study:

Key Consulting Companies & Advisors

Large, medium-sized, and small enterprises

Venture capitalists

Value-Added Resellers (VARs)

Third-party knowledge providers

Investment bankers

Investors