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Cloud-Based ITSM Market by Solution, Service, Vertical, & Region - Global Forecast to 2021

Cloud-Based ITSM Market: Global Forecast until 2021

  • June 2016
  • 155 pages
  • ID: 3884071
In this report:
The energy and utilities vertical is expected to grow at the highest CAGR of ##.##% from 2016 to 2021.
The travel and hospitality vertical is expected to grow at the highest CAGR of ##.##% from 2016 to 2021.
The market in Europe is expected to be valued at USD ##,##.## million in 2016, and is projected to reach the market size of USD ##,##.## million by 2021, at a CAGR of ##.##% during the forecast period.

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Widespread adoption of Bring-Your-Own-Device policies and advent of advanced technologies including big data and IoT are driving the cloud-based ITSM market"

The overall cloud-based IT Service Management market size is forecasted to grow from ~$4.4B in 2016 to ~$8.8B by 2021, at a CAGR of 14.80 percent from 2016 to 2021. The cloud-based ITSM market is influenced by Elements such as widespread adoption of BYOD policies and growing mobile workforce, advent of advanced technologies including big data and IoT, and benefits of agile implementation, easy deployment, and subscription-based pricing.

"The dashboard, reporting, and analytics market is anticipated to gain high traction during the outlook period"

The dashboard, reporting, and analytics market is expected to grow with high Compound annual growth rate during the estimate period. Dashboard, reporting and analytics solutions are gaining traction in the sector as they help to automate the process of collecting, organizing, and identifying patterns in diverse and fast-changing IT service environments to recognize problems faster and improvise IT performance.

"North America (NA) is forecasted to contribute the largest part of market share during the outlook period"

North America continent has captured the biggest market share in 2016. This zone has witnessed quick adoption of BYOD policies for enhanced productivity, employee satisfaction, and cost effectiveness. These policies need remote accessibility of information, which is facilitated by cloud-based ITSM solutions. Latin America area is the fastest growing area with the highest compound annual growth rate (CAGR). Institutions here are emphasizing on offering better customer experience to be able to differentiate themselves from the players, which is a main reason for the large demand for cloud-based ITSM solutions in this area.

In the process of finding out and checking the market value for various segments and sub-segments collected by secondary research, extensive primary audit sessions were managed with main people. The distribution of profiles of primary members taking part is presented below:

- By Company Type: Tier 1: 15.0 percent, Tier 2: 40.0 percent, and 1/3 3: 45.0 percent

- By Description: C-suite: 55.0 percent, D-level: 25.0 percent, and Others: 20.0 percent

- By area: North america (NA): 43.0 percent, Europe: 38.0 percent, Asia-Pacific: 15.0 percent, Rest of the World: 4.0 percent

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