Technavio’s research analyst predicts the global cloud-based ITSM market to grow at a CAGR of around 16% during the forecast period. Widespread adoption of BYOD policies and rising mobile workforce are some of the significant growth drivers for this market. The increased usage of smartphones and tablets across organizations has enabled employees to work remotely. With the help of cloud-based ITSM, organizations are moving toward the trend of BYOD, which allows employees to access organizational data and resources without being tied up to a single location.
Technavio predicts the mobile workforce population to reach more than 1.2 billion worldwide by the end of 2015, representing 36% of the total workforce. This will pose a challenge for companies in terms of managing and streamlining the workflow. Therefore, automating business processes using the cloud-based model will help in solving these business constraints.
Geographical segmentation and analysis of the cloud-based ITSM market
The Americas led the global cloud-based ITSM market during 2015. The region saw tremendous growth over the past five years because of the rise in the mobile workfare and enterprise collaboration. The need to reduce operational costs and TCO and the high traction among SMEs are some of the factors that have contributed to market growth in this region.
Competitive landscape and key vendors
With a large number of providers, the cloud-based ITSM market has become one of the fastest-growing segment of the cloud computing market. Axios, FrontRange, Cherwell Software, and LANDesk are some of the newer companies that are rapidly gaining market share. This is because prominent on-premise vendors such as HP and IBM are focusing only minimally on cloud-based deployment models.
The leading vendors in the market are -
The other prominent vendors in the market include Axios Systems, Cherwell Software, CloudHealth Technologies, EasyVista, Dell (EMC), Freshdesk, FrontRange Solutions, Fruition Partner, Hornbill Services, LANDesk, NTRGlobal, Sunrise Software, Sunview, SysAid Technologies, TechExcel, Unisys, Vivantio, and Zendesk.
Key questions answered in the report include
What will the market size and the growth rate be in 2019?
What are the key factors driving the global cloud-based ITSM market?
What are the key market trends impacting the growth of the cloud-based ITSM market?
What are the challenges to market growth?
Who are the key vendors in this market space?
What are the market opportunities and threats faced by the vendors in the global cloud-based ITSM market?
Trending factors influencing the market shares of the Americas, APAC, and EMEA?
What are the key outcomes of the five forces analysis of the cloud-based ITSM market?
Technavio also offers customization on reports based on specific client requirement.
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Technavio Announces the Publication of its Research Report – Global Cloud-based ITSM Market 2015-2019 Technavio recognizes the following companies as the key players in the Global Cloud-based ITSM Market: CA Technologies, BMC, IBM, HP and ServiceNow Other Prominent Vendors in the market are: Axios Systems, Cherwell Software, CloudHealth Technologies, EasyVista, Dell (EMC), Freshdesk, FrontRange Solutions, Fruition Partner, Hornbill Services, LANDesk, NTRGlobal, Sunrise Software, Sunview, SysAid Technologies, TechExcel, Unisys, Vivantio, and Zendesk. Commenting on the report, an analyst from Technavio’s team said: “Cloud-based ITSM are designed for distributed workloads to allow business enterprises to have quick access with less risk associated with location or device. Process automation and system modernization have driven market growth in both developed and emerging regions worldwide.” According to the report, increased data proliferation and complexity have made it difficult to deploy and maintain reliable data interfaces. To overcome this, enterprises are focusing on data integration, which offers on-demand accessibility and real-time synthesizing of data. It also performs real-time analysis for effective decision-making processes. It enables enterprises to monitor, transform, and deliver data, understand the business process, and bridge the gap between business and IT. Further, the report states that many vendors are requested to customize cloud-based ITSM solutions according to customer specifications because every organization has its own standard process to handle incidents, manage problems, and change and release management.