Dublin, Feb. 06, 2025 (GLOBE NEWSWIRE) — The “Cloud-Based IT Service Management (ITSM) – Global Strategic Business Report” has been added to ResearchAndMarkets.com’s offering.
The global market for Cloud-Based IT Service Management (ITSM) was valued at US$8.9 Billion in 2024 and is projected to reach US$24.7 Billion by 2030, growing at a CAGR of 18.6% from 2024 to 2030. This comprehensive report provides an in-depth analysis of market trends, drivers, and forecasts, helping you make informed business decisions.
The growth in the cloud-based IT Service Management (ITSM) market is driven by several factors that reflect the changing needs of businesses and advancements in technology. One of the key drivers is the increasing complexity of IT environments, particularly with the rise of multi-cloud and hybrid IT infrastructures. As businesses adopt more diverse and distributed technology stacks, they require ITSM platforms that can manage and monitor these environments seamlessly. Cloud-based ITSM solutions are well-suited to handle this complexity, providing centralized visibility and control across diverse systems.
Another major driver is the growing need for agility and speed in IT operations. In today’s fast-paced business environment, organizations need to quickly respond to changes in demand, scale their operations, and ensure minimal downtime. Cloud-based ITSM solutions allow businesses to scale IT operations on-demand, automate repetitive tasks, and deploy services faster, all of which are critical for maintaining operational efficiency.
The rise of remote work and the increasing reliance on digital tools for business operations are also key growth drivers, as cloud-based ITSM platforms support remote management and troubleshooting, ensuring that IT teams can continue to deliver services regardless of their location. Additionally, the shift toward automation and AI-driven solutions is accelerating the adoption of cloud-based ITSM. These technologies enable IT teams to operate more efficiently by automating routine processes, reducing the need for manual intervention, and improving service delivery times.
Finally, the cost-effectiveness of cloud-based ITSM solutions is a significant driver, as organizations can avoid the high upfront costs of on-premise solutions and benefit from a pay-as-you-go pricing model that aligns more closely with their actual usage and needs.
Report Scope
The report analyzes the Cloud-Based IT Service Management (ITSM) market, presented in terms of market value (US$ Thousand). The analysis covers the key segments and geographic regions outlined below.
Segments
Component (Solutions, Services); Organization Size (Large Enterprises, SMEs); End-Use (BFSI, IT & Telecom, Government & Public Sector, Retail & Consumer Packaged Goods (CPG), Healthcare & Life Sciences, Other End-Uses).
Geographic Regions/Countries
World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; and Rest of Europe); Asia-Pacific; Rest of World.
Key Insights:
- Market Growth: Understand the significant growth trajectory of the Cloud-Based ITSM Solutions segment, which is expected to reach US$13.3 Billion by 2030 with a CAGR of a 14.9%. The Cloud-Based ITSM Services segment is also set to grow at 24.2% CAGR over the analysis period.
- Regional Analysis: Gain insights into the U.S. market, valued at $2.4 Billion in 2024, and China, forecasted to grow at an impressive 17.8% CAGR to reach $3.8 Billion by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and the Asia-Pacific.
Report Features:
- Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2024 to 2030.
- In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
- Company Profiles: Coverage of major players such as Axios Systems PLC, BMC Software, Inc., CA Technologies, Inc., Cherwell Software, LLC, Citrix Systems, Inc. and more.
- Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.
Key Questions Answered:
- How is the Global Cloud-Based IT Service Management (ITSM) Market expected to evolve by 2030?
- What are the main drivers and restraints affecting the market?
- Which market segments will grow the most over the forecast period?
- How will market shares for different regions and segments change by 2030?
- Who are the leading players in the market, and what are their prospects?
Some of the 204 major companies featured in this Cloud-Based IT Service Management (ITSM) market report include:
- Axios Systems PLC
- BMC Software, Inc.
- CA Technologies, Inc.
- Cherwell Software, LLC
- Citrix Systems, Inc.
- HEAT Software USA, Inc.
- Hewlett Packard Enterprise Development L.P. (HPE)
- Hornbill Corporate Ltd.
- IBM Corporation
- ServiceNow, Inc.
Key Attributes
| Report Attribute | Details |
| No. of Pages | 273 |
| Forecast Period | 2024-2030 |
| Estimated Market Value (USD) in 2024 | $8.9 Billion |
| Forecasted Market Value (USD) by 2030 | $24.7 Billion |
| Compound Annual Growth Rate | 18.6% |
| Regions Covered | Global |
MARKET OVERVIEW
- Influencer Market Insights
- Global Economic Update
- Cloud-Based IT Service Management (ITSM) – Global Key Competitors Percentage Market Share in 2025 (E)
- Competitive Market Presence – Strong/Active/Niche/Trivial for Players Worldwide in 2025 (E)
MARKET TRENDS & DRIVERS
- Remote and Hybrid Work Models Spur Growth in Cloud-Based ITSM Adoption
- Cloud-Based ITSM Strengthens the Business Case for IT Agility and Scalability
- Here’s How Increasing IT Infrastructure Complexity Propels Growth in Cloud ITSM
- Cost-Effectiveness and Reduced Capital Expenditure Drive the Shift to Cloud-Based ITSM
- Rising Cybersecurity Concerns Shape Innovation in Cloud-Based ITSM Security Features
- Automated Workflows and AI-Powered Service Desk Capabilities Sustain Growth in Cloud ITSM
- Increased Focus on Proactive IT Support and Predictive Maintenance Accelerates Cloud ITSM Adoption
- Demand for Unified IT Management Platforms Expands Opportunities for Cloud ITSM
- Cloud ITSM Improves Operational Efficiency and Enhances Business Continuity Planning
For more information about this report visit https://www.researchandmarkets.com/r/xemwp9
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- Cloud-Based IT Service Management (ITSM) Market
