[August 05, 2016]

With a Market Share of 25% in 2015, the Configuration Management Segment is Expected to Drive the Global ITSM Market until 2020, Says Technavio

According to the latest market study released by Technavio, the global information technology service management (ITSM) market is expected to grow at a steady CAGR of close to 8% during the forecast period.

This research report titled 'Global ITSM Market 2016-2020' provides an in-depth analysis of the market in terms of revenue and emerging market trends. This market research report also includes up to date analysis and forecasts for various market segments and all geographical regions.

Request sample report: http://goo.gl/YG4QNM

The report categorizes the global ITSM market into three major application segments. They are:

Global configuration management market

The configuration management segment (CMS) of the global ITSM market is expected to reach USD 8.97 billion by 2020, at a CAGR of close to 11% during the forecast period. CMS is the foundation of ITSM tools as it holds all the information about IT services. However, in ITSM, CMS gets more complex as it gathers a lot of information, which is not necessary; this results in the loss of some functionalities that are intended to be done by the CMS.

CMS is a comprehensive set of tools that collects, organizes, and updates data related to IT infrastructure services for risk management and cost reduction. The CMS needs to be put to better use to perform analysis on the collected data and derive meaningful insights. At the same time, the same level of detailed information is not required for all the types of assets and items. This is the key to the creation and effective use of the CMS market. Vendors that are adept in capturing the business needs and aligning the same with functionalities and tailoring of the CMS tools help to capture the intended business results of an organization.

According to Amit Sharma, lead IT professional services analyst from Technavio, "The main factor contributing to the growth of the configuration management market is the need to comply with constant regulatory changes in various industry verticals. Organizations understand the need for compliance and are therefore investing in configuration management solutions to reduce risk factors observed in business operations."

Global availability and performance management market

The availability and performance management segment of the global ITSM market is expected to reach USD 4.4 billion by 2020, at a CAGR of over 4% during the forecast period. Availability and performance management applications provide a real-time view of the IT environment in an enterprise. Real-time monitoring is extremely important because this makes a difference to the way an organization achieves its business goals. Scalability issues have been on the rise in this application-based economy and infrastructure needs may well continue to rise in the future.

"Of the several critical incidents faced by IT in general, infrastructure problems definitely top the list. This highlights the importance of availability and performance management, so that the user is alerted on the availability of scalable resources or a defect in software," says Amit.

Global network management market

The network management segment of the global ITSM market was valued at USD 3.41 billion in 2015 and is anticipated to grow at a CAGR of close to 6% by 2020. The rising volumes of data generated by social media, virtualization, mobility, and other intelligent electronic devices are forcing organizations to adopt wider networks. As a result, the need for effective management of network systems is also increasing.

Companies are working to simplify network distribution and to implement better management tools to ensure adequate business delivery. ITSM tools help in accomplishing the same by streamlining the tasks and workflows associated with network management and delivery of services to business. This plays a critical role in enabling effective functioning of IT operations managers. Any firm operating in different industry verticals requires effective ITSM tools to streamline their operational process.

The top vendors highlighted by Technavio's research analysts in this report are:

• BMC Software
• CA Technologies (News - Alert)
• HP
• IBM

Browse Related Reports:

• Global Cloud-Based ITSM Market 2015-2019
• Global Application Development and Integration Market 2016-2020
• Global Electronic Health Records Market 2016-2020

Do you need a report on a market in a specific geographical cluster or country but can't find what you're looking for? Don't worry, Technavio also takes client requests. Please contact with your requirements and our analysts will be happy to create a customized report just for you.

About Technavio

Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.

Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.

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View source version on businesswire.com: http://www.businesswire.com/news/home/20160805005008/en/

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