Albany, NY, May 18, 2016 (GLOBE NEWSWIRE) — MarketResearchReports.biz has added the report ‘Global Cloud-Based ITSM Market 2015-2019’ to its offering. This report provides a comprehensive evaluation of the market for IT service management (ITSM) for the forecast horizon 2015 to 2019. The report helps identify the major trends prevalent in the market and presents predictions on the advancement of the market in the coming three years. The study also presents the size of the market and its predicted growth rate by 2019. The major market opportunities as well as the threats experienced by the key vendors dominant in the market have also been detailed upon in this study. In addition, the prime outcomes of the Five Forces evaluation of the cloud-based ITSM market is a key part of this report.
The market for ITSM is predicted to expand at a 16% CAGR from 2015 to 2019. The introductory section of the report presents the market overview and provides the definition of cloud-based ITSM. ITSM is a group of activities performed by a company or part of an organization for delivering, planning, controlling, and operating IT services offered to customers. Hence, it is concerned with applying quality IT services that fulfill the requirements of customers. The cloud-based ITSM market has emerged as the most swiftly developing segment in the market for cloud computing.
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The key factor fuelling the growth of the market is the extensive adoption of BYOD policies and increasing mobile workforce. As per the report, the mobile workforce will reach over 1.2 bn by the end of 2015 globally, which is 36% of the total workforce. This will result in companies having difficulty in streamlining and managing their workflow. Hence, the automating of business processes by utilizing cloud-based ITSM model is a vital step to providing solutions to all the business constraints in an organization.
In the geographical segmentation section of the report, the growth of the cloud-based ITSM market is discussed in regions such as the Americas, Europe, the Middle East, and Africa (EMEA), and Asia Pacific. Amongst these, in 2015, the Americas dominated the global cloud-based ITSM market. This region also witnessed rapid growth in the past five years owing to the increasing mobile workforce as well as enterprise collaboration. In addition, the requirement of reducing the operational cost and the increasing SMEs in this region have fuelled the growth of the market here.
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The competitive landscape section entails the major vendors operating in the market. Some of the key vendors dominant in the global cloud-based ITSM market are CA Technologies, BMC, IBM, HP, ServiceNow, Cherwell Software, Dell (EMC), Freshdesk, EasyVista, FrontRange Solutions, Fruition Partner, LANDesk, Sunrise Software, NTRGlobal, Sunview, TechExcel, SysAid Technologies, Zendesk, and Vivantio. Amongst these, LANDesk, Cherwell Software, and FrontRange are some of the new companies emerging in the cloud-based ITSM market.
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