IT Operations and Service Management (ITOSM) Market: Industry Status, Forecast till 2032 | IMR
IT Operations and Service Management (ITOSM) Market Size Was Valued at USD 29.7 Billion in 2023, and is Projected to Reach USD 52.4 Billion by 2032, Growing at a CAGR of 6.5% From 2024-2032.
Mac Watson
IT Operations and Service Management (ITOSM) is a term that is used to obtain the combined capacity to manage and optimize an organization’s IT facilities and operating services by aligning them with business purposes and responding to the end users’ needs as well.
These activities cover a range from IT systems management, crowdsourced monitoring, incidents management and problem-solving, as well as new technology deployment and, lastly, continuous improvement of service delivery processes. ITOSM will enable improvement of operational efficiency, lessen downtime, and unleash maximum value of IT to the organization among others in the long run which equally contribute to the prosperity of the business.
Players Covered in IT Operations and Service Management (ITOSM) Market are:
4me (US), Aisera (US), Alemba (UK), Atlassian (Australia), BMC Software (US), Broadcom (US), EasyVista (US), Efecte (Finland), Freshworks (US), GoTo (US), HalolTSM (US), Hornbill (UK), IBM (US), IFS (Sweden), InvGate (US, ITarain (US), Ivanti (US), ManageEngine (India), Microsoft (US), NinjaOne (US), OpenText (Canada), ServiceNow (US), SolarWinds (US), SymphonyAl Summit (US), SysAid (Israel), TeamDynamix (US), TOPdesk (Netherlands), Zendesk (US), Other key Players
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IT Operations and Service Management (ITOSM) Market Trend Analysis
Utilizing machine learning and analytics, AIOps is a sophisticated IT operations solution that facilitates automation and impressive capabilities across various tasks such as monitoring, troubleshooting, and incident management. By analyzing petabytes of data from billions of sources such as logs, metrics, and events, AIOps platforms can identify operational trends, forecast future incidents, and deliver actionable solutions for IT Operations.
This trend is driven by the increasing complexity of IT design, the expanding variety of information sources, and the need to respond faster and take more initiative. In organizations' pursuit of advancement through the adoption of cutting-edge technology in the IT sector, AIOps serves as the benchmark and establishes the rhythm for transforming IT service management.
Segmentation Analysis of IT Operations and Service Management (ITOSM) Market:
IT Operations and Service Management (ITOSM) Market is Segmented on the basis of type, ITOM Type, Industry verticals and end-users.
By Type
· ITSM
· ITOM
By ITOM Type
· Configuration Automation and Discovery
· Event Management
· Cloud Provisioning
· Workload and IT Automation
By Industry Verticals
· BFSI
· Telecom and IT
· Government
· Healthcare/Medical/Pharmaceutical
· Aerospace/ Defence
· Retail/Wholesale/Distribution
· Manufacturing
· Education
· Hospitality/ Entertainment/Recreation/Travel
· Energy Utilities
· Others
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IT Operations and Service Management (ITOSM) Market Regional Insights:
In the ITO/SMO for North America, it is North American countries that are in the driver's seat and will be setting the trend and direction by 2018 An exemplary technological infrastructure, a high-developed IT ecosystem, and a culturally inclined early application of the latest innovation technologies make the region be a leader in developing IT service management solutions cutting-edge developments.
Together with this, it is worth mentioning that the North American market especially enjoys benefits from the advancement of the local IT services industry where a lot of major vendors, innovative startups, and active service providers have been operating over the last decades and offering the broad range of the IT security management products and services.
By Region
• North America (US, Canada, Mexico)
• Eastern Europe (Bulgaria, The Czech Republic, Hungary, Poland, Romania, Rest of Eastern Europe)
• Western Europe (Germany, UK, France, Netherlands, Italy, Russia, Spain, Rest of Western Europe)
• Asia Pacific (China, India, Japan, South Korea, Malaysia, Thailand, Vietnam, The Philippines, Australia, New Zealand, Rest of APAC)
• Middle East & Africa (Turkey, Bahrain, Kuwait, Saudi Arabia, Qatar, UAE, Israel, South Africa)
• South America (Brazil, Argentina, Rest of SA)
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