Pune, Maharashtra -- (SBWIRE) -- 05/09/2023 -- According to HTF Market Intelligence, the Global Cloud IT Service Management (ITSM) market to witness a CAGR of 18.8% during forecast period of 2023-2028. The market is segmented by Global Cloud IT Service Management (ITSM) Market Breakdown by Application (IT & Telecommunication, BFSI, Healthcare, Retail & Consumer Goods, Media & Entertainment, Manufacturing, Government & Public, Others) by Component (Solutions, Configuration & Change Management, Operations & Performance Management, Service Desk Software, Service Portfolio Management, Other, Services) by Organization Size (SMEs Enterprises, Large Enterprises) and by Geography (North America, South America, Europe, Asia Pacific, MEA). The Cloud IT Service Management (ITSM) market size is estimated to increase by USD 16.5 Billion at a CAGR of 18.8% from 2023 to 2028. The report includes historic market data from 2017 to 2022E. Currently, market value is pegged at USD 5.5 Billion.

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Cloud IT Service Management (ITSM) refers to the delivery of IT service management software and tools through the cloud, rather than on-premise or in-house. It allows organizations to manage their IT services and infrastructure more efficiently and cost-effectively by using a centralized system that can be accessed from anywhere with an internet connection.

Cloud IT Service Management (ITSM) market - Key Segment Analysis

The market share growth by the SMEs Enterprises segment will be significant during the forecast period. The segment is driven by the Automate Time-Consuming IT Processes to Speed up Service Delivery.

Cloud IT Service Management (ITSM) market - Competition Analysis
The global Cloud IT Service Management (ITSM) market is seeing several joint ventures to intensify the capability of manufacturers and/or companies to establish geographic footprints to new territory. The vendors are accelerating M&A strategies to expand their geographical reach, which is shaping the market toward new growth cycle. The list of players that are profiled in the study are ServiceNow (United States), HPE (United States), IBM (United States), BMC Software (United States), CA Technologies (United States), Cherwell Software (United States), Ivanti (United States), Citrix Systems (United States), Hornbill (United Kingdom), Axios Systems (United States)..

Cloud IT Service Management (ITSM) market - Geographical Outlook
Asia Pacific will provide maximum growth opportunities in Cloud IT Service Management (ITSM) market. According to our research, the region will account for xx% of the global market growth during the forecast period. The market in Asia Pacific is driven by Trend for Build Your Own Device (BYOD).

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What key data is demonstrated in this Cloud IT Service Management (ITSM) market report?
- CAGR of the market during the forecast period
- Detailed information on factors that will drive the growth of the Cloud IT Service Management (ITSM) market between 2023 and 2028
- Precise estimation of the size of the Cloud IT Service Management (ITSM) market and its contribution to the parent market
- Accurate predictions about upcoming trends and changes in consumer behaviour
- Value in dollar term and growth of the market industry across APAC, Europe, North America, South America, and Middle East and Africa; further broken down by major country within region.
- Thorough analysis of the market's competitive landscape and detailed information about vendors
- Comprehensive analysis of factors that will challenge the growth of Cloud IT Service Management (ITSM) market players

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Some Extracts from Table of Content
Some Extracts from Table of Content
- Overview of Cloud IT Service Management (ITSM) Market
- Market dynamics
Growth Drivers, Market Trends, Opportunities and Challenges
- Five Forces Analysis
Bargaining power of buyers, bargaining power of suppliers, Threat of new entrants, Threat of substitutes, Threat of rivalry

- Cloud IT Service Management (ITSM) Size (USD & Sales Volume) Comparison by Type (2017-2028)
- Cloud IT Service Management (ITSM) Size (USD & Consumption) and Market Share Comparison by Application (2017-2028)
- Cloud IT Service Management (ITSM) Size (Value & Volume) Comparison by Region (2017-2028)
- Market Capacity, Production, Export-Import by Region (2017-2022E)
- Cloud IT Service Management (ITSM) Market Sales, Revenue and Growth Rate (2017-2028)
- Competitive Situation and Trends
- Market Positioning and Share Analysis (2020-2022E)
- Suppliers High-Performance Operational Base Distribution
- Analyse competitors, Profiles, Sales Area, Product Category
- Cloud IT Service Management (ITSM) Cost Analysis
- Marketing Strategy Analysis
- Research Conclusions