Global Cloud Information Technology Service Management Market Size, Share & Industry Analysis Report By Component (Solution, and Services), By Enterprise Size (Large Enterprise, and Small & Medium Enterprises (SMEs)), By Technology, By Vertical, By Region

The Global Cloud Information Technology Service Management Market size is expected to reach $30.57 billion by 2032, rising at a market growth of 17% CAGR during the forecast period.

The primary goal of ITSM solutions is to streamline IT processes, enhance service delivery, and improve end-user experience. Cloud-based ITSM solutions offer significant advantages such as scalability, remote accessibility, real-time data analytics, and faster deployment compared to traditional on-premise models. Additionally, these solutions are increasingly incorporating emerging technologies such as artificial intelligence (AI), machine learning (ML), and automation to further enhance performance and reduce manual intervention.

The major strategies followed by the market participants are Partnerships as the key developmental strategy to keep pace with the changing demands of end users. For instance, In May, 2025, Oracle Corporation teamed up with IBM, a software company to integrate IBM’s Watson AI products with Oracle Cloud Infrastructure (OCI). This collaboration enables multi-agent AI workflows, hybrid cloud deployments, and consulting services to help enterprises modernize infrastructure, improve productivity, and transform business processes with AI-driven solutions. Additionally, In March, 2025, IBM Corporation teamed up with Zscaler, an IT security company, achieving Zscaler Delivery Services Authorized status. This collaboration accelerates zero-trust deployments, integrates security solutions, and offers end-to-end support, enabling organizations to securely transform digitally while enhancing resilience in a complex threat landscape.

KBV Cardinal Matrix - Cloud Information Technology Service Management Market Competition Analysis

Based on the Analysis presented in the KBV Cardinal matrix; Google LLC, Microsoft Corporation, and Amazon Web Services, Inc. are the forerunners in the Cloud Information Technology Service Management Market. In March, 2025, Google LLC teamed up with LTIMindtree, a software company to develop industry-specific GenAI solutions, leveraging Google’s AI platforms like Vertex AI. The collaboration aims to accelerate cloud adoption, modernize infrastructure, and boost business transformation across sectors including BFSI, manufacturing, retail, and media worldwide. Companies such as Tencent Holdings Ltd., Oracle Corporation, and Alibaba Cloud are some of the key innovators in Cloud Information Technology Service Management Market.

Market Growth Factors

The pace of digital transformation in the LAMEA region has significantly intensified over the past few years, serving as a major catalyst for the adoption of cloud-based IT Service Management (ITSM) solutions. Organizations across Latin America, the Middle East, and Africa are embracing digital technologies to streamline operations, enhance customer engagement, and stay competitive in an increasingly globalized business environment. Hence, the accelerated digital transformation across enterprises is driving the growth of the market.

Additionally, Cloud adoption has become a cornerstone of IT strategy for organizations across the LAMEA region, significantly influencing the demand for cloud-based IT Service Management (ITSM) platforms. Businesses are increasingly shifting from legacy systems to cloud-native architectures, driven by the need for flexibility, cost-efficiency, and operational resilience. Thus, rising cloud adoption and infrastructure modernization is propelling the growth of the market.

Market Restraining Factors

However, one of the primary restraints hindering the growth of the cloud IT Service Management (ITSM) market in the LAMEA region is the underdeveloped cloud infrastructure and limited connectivity, especially in rural and economically disadvantaged areas. While metropolitan hubs like Dubai, São Paulo, and Johannesburg enjoy relatively modern data infrastructure, vast portions of Latin America, the Middle East, and sub-Saharan Africa continue to face challenges with reliable high-speed internet access and modern IT infrastructure. Therefore, Inadequate Cloud Infrastructure and Connectivity Gaps are hampering the growth of the market.

Value Chain Analysis

The value chain analysis depicted in the image outlines the comprehensive ecosystem of Cloud IT Service Management (ITSM). It begins with Technology Development & Innovation, followed by Compliance & Cybersecurity Management to ensure secure foundations. Cloud Infrastructure Providers deliver the necessary platforms, while Software Platform Development creates the core ITSM tools. System Integration & Customization adapts these tools to enterprise needs, leading to Deployment & Delivery (SaaS Model). Post-deployment, ITSM Consulting & Professional Services and End-User Training & Support facilitate smooth adoption. Monitoring, Analytics & Continuous Improvement closes the loop, feeding insights back into innovation for ongoing enhancement.

The leading players in the market are competing with diverse innovative offerings to remain competitive in the market. The above illustration shows the percentage of revenue shared by some of the leading companies in the market. The leading players of the market are adopting various strategies in order to cater demand coming from the different industries. The key developmental strategies in the market are Partnerships, Collaborations & Agreements.

Component Outlook

Based on Component, the market is segmented into Solution, and Services. The Services segment acquired 38.32% revenue share in the market in 2024. The segment complements the solutions by providing the necessary support, consultation, and maintenance needed to ensure optimal implementation and performance of ITSM tools. These services typically include professional services such as consulting, system integration, training, and support services such as managed services and maintenance.

Enterprise Size Outlook

Based on Enterprise Size, the market is segmented into Large Enterprise, and Small & Medium Enterprises (SMEs). The Small & Medium Enterprises (SMEs) segment witnessed 33.28% revenue share in the market in 2024. The Small Enterprise segment within the Cloud Information Technology Service Management (ITSM) market is experiencing rapid growth as smaller organizations increasingly adopt cloud-based solutions to enhance operational efficiency and reduce IT overhead costs.

Technology Outlook

Based on Technology, the market is segmented into Network Management, Database Management System, Performance Management, Configuration Management, and Other Technology. The Database Management segment garnered 24.02% revenue share in the market in 2024. This segment within the Cloud Information Technology Service Management (ITSM) market plays a critical role in ensuring the efficient storage, retrieval, and management of data across cloud environments. It includes solutions and services that enable organizations to handle large volumes of structured and unstructured data securely and reliably.

Vertical Outlook

Based on Vertical, the market is segmented into BFSI, IT & Telecom, Healthcare, Retail & E-Commerce, Energy & Utilities, Government, and Other Vertical. The IT & Telecom segment procured 20.32% revenue share in the market in 2024. This segment within the Cloud Information Technology Service Management (ITSM) market plays a critical role in driving innovation, operational efficiency, and customer satisfaction. The segment leverages cloud-based ITSM solutions to streamline incident, problem, and change management processes, ensuring minimal downtime and enhanced service delivery.

Regional Outlook

Region-wise, the market is segmented into North America, Europe, Asia-Pacific, and LAMEA. The segment recorded 39.35 share in the market in 2024. The North American Cloud Information Technology Service Management (ITSM) market has evolved significantly over the past decade, establishing itself as a global leader in cloud-based IT service delivery. This transformation is rooted in the region's early adoption of cloud computing, robust digital infrastructure, and a strong emphasis on operational agility and innovation.

Market Competition and Attributes

The Cloud Information Technology Service Management (ITSM) market becomes more fragmented and competitive. Smaller vendors and emerging startups gain opportunities to innovate and capture market share. Competition intensifies around pricing, customization, and niche service offerings, driving rapid technological advancement and customer-centric solutions. This dynamic landscape fosters innovation but may lack unified standards and global scalability.

Recent Strategies Deployed in the Market

• May-2025: Salesforce, Inc. unveiled Agentforce for HR Service, enhancing its Employee Service with AI-driven automation via Slack and portals. It streamlines HR tasks like onboarding and PTO management. Salesforce also confirms plans to enter IT Service Management, aiming to simplify IT workflows and challenge incumbents like ServiceNow.
• May-2025: Salesforce, Inc. acquired Convergence.ai, a company specializing in AI agents that handle complex, adaptive digital tasks. This acquisition will boost Salesforce’s AI capabilities, enhancing Agentforce to deliver smarter, more resilient automation for sophisticated workflows, driving innovation and productivity across industries, and accelerating AI research in London.
• May-2025: Hewlett Packard Enterprise Company unveiled its advanced private cloud portfolio featuring HPE Morpheus VM Essentials and Enterprise Software. These solutions offer unified cloud management, cost savings, AI-driven automation, and enhanced virtualization performance. Designed for hybrid IT modernization, they simplify operations, reduce costs, and improve scalability across enterprise environments.
• Mar-2025: Google LLC acquired Wiz, an IT security company to enhance multi-cloud security with a unified platform that protects cloud-native applications, code, and infrastructure. Combining Wiz’s cloud security with Google’s AI and expertise will improve threat detection, AI-driven defense, and cybersecurity for enterprises, governments, and partners across diverse cloud environments.
• Mar-2025: Tencent Holdings Ltd. teamed up with TrueWatch, a next-generation modern observability platform to launch Indonesia’s first Multi-Cloud SaaS Observability Platform. This collaboration leverages Tencent Cloud’s local data centers to deliver real-time monitoring, enhanced scalability, faster deployment, and strong security compliance, helping businesses optimize cloud operations across multiple cloud environments efficiently.

List of Key Companies Profiled

• Amazon Web Services, Inc.
• Microsoft Corporation
• Google LLC
• Alibaba Cloud (Alibaba Group Holding Limited)
• Oracle Corporation
• IBM Corporation
• Tencent Holdings Ltd.
• Salesforce, Inc.
• Huawei Technologies Co., Ltd. (Huawei Investment & Holding Co., Ltd.)
• Hewlett Packard Enterprise Company

Global Cloud Information Technology Service Management Market Report Segmentation

By Component

• Solution
• Services

By Enterprise Size

• Large Enterprise
• Small & Medium Enterprises (SMEs)

By Technology

• Network Management
• Database Management System
• Performance Management
• Configuration Management
• Other Technology

By Vertical

• BFSI
• IT & Telecom
• Healthcare
• Retail & E-Commerce
• Energy & Utilities
• Government
• Other Vertical

By Geography

• North America

US

Canada

Mexico

Rest of North America

• Europe

Germany

UK

France

Russia

Spain

Italy

Rest of Europe

• Asia Pacific

China

Japan

India

South Korea

Singapore

Malaysia

Rest of Asia Pacific

• LAMEA

Brazil

Argentina

UAE

Saudi Arabia

South Africa

Nigeria

• Rest of LAMEA