The three service strategies used in cloud-based ITSM are Portfolio management, demand management and financial management.

Valley Cottage, NY -- (SBWire) -- 03/05/2018 --Cloud based technologies and services are opted for business purpose by most of the organization due to increase in usage of smartphones and tablets which enables employees to work remotely. With the help of cloud-based ITSM, many organizations are moving towards BYOD trend which allows user to access organizational data and resources from different location. Cloud based ITSM provides transparency to value added services and satisfying business needs by ensuring high quality solutions. Cloud-based ITSM is a new way of offering IT and business services without on premises deployment of the system thereby reducing setup cost which helps for managing and maintenance of backend infrastructure.

The three service strategies used in cloud-based ITSM are Portfolio management, demand management and financial management. These services are effectively used for workload and cost calculations to meet the rapidly increasing workload demand. Cloud-based ITSM is a way to improve a current service or to implement new service.

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Cloud-Based ITSM:Drivers and Challenges

The major factors driving the adoption cloud-based ITSM are increase in mobile workforce, security and privacy concern. In enterprise application, the drift towards cloud technology has created huge impact on cloud- based ITSM market which helps to improve security of data, integrity and delivery of services. Cloud based solutions delivers business enabling IT services quickly and flexibly at lower cost. Most of the companies are adopting advent advanced technologies such as Bigdata and internet of things. These technology are used due to its advance feature like agile implementation, easy deployment and subscription based pricing.

The major restrains faced by cloud-based ITSM market is increased business scrutiny and complexity. Now-a-days, due to substantial adoption of internet of things for various cloud based applications and excess use of remote application, most of the organizations are facing problem such as compliance which causes complexity in business.

Cloud-Based ITSM: Segmentation

Segmentation on the basis of solutions:

Service portfolio management

Service demand management

Service financial management

Configuration and change management

Operations and performance management

Dashboard, reporting, and analytics

Segmentation on the basis of verticals:

Government and public sector

Energy and utilities

Travel and hospitality

Banking

Telecommunication and IT

Healthcare and life sciences

Education

Cloud-Based ITSM: Key Players

Some of the key players of cloud-based ITSM are:BMC Software, Inc., CA Technologies, Service Now, Cherwell Software, LLC, Hewlett Packard Enterprise Company, and HEAT Software USA.

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Cloud-Based ITSM: Regional Overview

Presently, North American region is holding the largest market share of cloud-based ITSM market due to rapid adoption of BYOD policies. Moreover, it offers enhanced productivity by remote access and it is also helps to lower down the initial setup cost.

The market of cloud-based ITSM is witnessing high growth rate in the region of Latin America due to rise in ITSMtechnology penetration. Vendors are trying to focus more on customer satisfaction in this region.

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