Deerfield Beach, FL -- (SBWIRE) -- 08/26/2015 -- Global IT Service Management (ITSM) market to grow at a CAGR of 7.30 percent over the period 2012-2016. Global IT Service Management (ITSM) market, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the Americas, and the EMEA and APAC regions; it also covers the Global IT Service Management (ITSM) market landscape and its growth prospects in the coming years. The report also includes a discussion of the key vendors operating in this market.
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One of the key factors contributing to this market growth is that an increasing number of employees are using personal technology devices in workplace. The Global IT Service Management (ITSM) market has also been witnessing the increasing popularity of ITSM among SMEs. However, the lack of transparency in service level agreements could pose a challenge to the growth of this market.
SMEs having smaller budgets often opt for public cloud services for meeting their business requirements. The pay-per-use model for (ITSM) is making the solution feasible for SMEs, as they pay only for their usage. This is leading to increasing competition among large vendors like IBM, CA Technologies, BMC Software and Hewlett-Packard to offer a host of solutions to attract SMEs. Some of these large vendors are now offering services like, IT service desk, IT asset management, application performance management, availability and performance management, network management, job scheduling, and DBMS to attract SMEs and increase their market share.
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Senior analyst and co-author of this report commented saying, "Configuration management accounted for the largest share of the Global ITSM market in 2012 and is expected be the fastest growing application sector by 2016. The key factor contributing to the growth of the Configuration Management market is the need to comply with the constant regulatory changes in various industry verticals. This market is also witnessing increased adoption of cloud-based solutions which will help in improving the demand for configuration management solutions in the future."
To determine the scenario for these vendors in the next 3-4 years, our analysts have conducted in-depth analysis of the impact of drivers, challenges, and trends of this market featuring data on product segmentations, vendor shares, growth rate by revenue, and an evaluation of the different buying criteria in order of importance.
Commenting on the report, an analyst team said: "One of the major reasons for cloud-based ITSM adoption is to reduce the capital and operational costs associated with computing resource provisioning within enterprises. Since cloud services are provided over the cloud infrastructure, there is a considerable reduction in the associated capital and operational expenditure. SMEs have a smaller budget and often opt for public cloud services to meet their business requirements. The pay-per-use model makes the solution feasible for SMEs as they pay only for their usage. ITSM providers can promptly set up and configure the ITSM system in a SaaS-based environment. They also provide users with at-a-glance information on power usage efficiency and data center usage competence. This trend is increasing the popularity of ITSM solutions among SMEs, thereby contributing to the growth of the market."
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According to the report, one of the major drivers is the widespread adoption of personal devices in the workplace. Employees working in various organizations are carrying their own mobile devices such as smartphones and tablets to their workplace and connecting them to their company's network. These devices also facilitate remote access to data and help employees remain productive at all times even when they are not at their workstations. The increasing number of devices used with company networks is increasing the need for IT systems and services, thus driving the growth of the market.
Further, the report states that one of the major challenges is the lack of transparency of SLAs. SLAs are very important to customers as well as to IT management solution service providers. Often customers are clueless about the services to choose as a part of an SLA. Also, ITSM providers are often not consistent in the promises made as part of the SLA.
The key vendors dominating this market space are BMC Software Inc., CA Technologies Inc., IBM Corp., and Hewlett-Packard Co.
The other vendors mentioned in the report are Axios Systems, Cherwell Software LLC, Citrix Systems Inc., Compuware Corp., EMC Corp., Fujitsu Ltd., Hitachi Ltd., Microsoft Corp., NetScout Systems Inc., Oracle Corp., ServiceNow Inc., Symantec Corp., and VMware Inc.