IT Service Management Tools to Witness Higher Demand in the BFSI Industry in the Coming
Years
Understanding various facets of the global IT service management tools market, Persistence Market
Research has come up with an analytical research publication titled “IT Service Management Tools
Market: Global Industry Analysis (2012-2016) and Forecast (2017-2025)”. The comprehensive IT
service management tools research report focuses on various developments, trends, restraints,
opportunities, drivers and challenges impacting the growth of the global IT service management
tools market. These factors vary in magnitude in different regions for which a detailed analyses is
covered in this research report. Along with this, a detailed competition assessment and forecasts for
a period of eight years, from 2017-2025, are elaborated with respect to each segment and sub-
segment of the global IT service management tools market.
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Global IT Service Management Tools Market: Growth Influencing Aspects
Transition from traditional helpdesk to IT service management tools, transformation of IT service
catalogue to enterprise service catalogue, increasing prominence of cloud services and several
benefits associated with IT service management tools such as prediction and prevention of issues
before their impact on end users, improvement in delivery of services, enhanced business processes
and asset utilization, rise in delivery velocity as well as quality of new business services, enhanced
integration and faster resolving of problems to increase quality of service and reduce costs are
supporting the growth of the global IT service management tools market. Factors like lack of in-
house expertise, longer turnaround times and security associated with cloud deployment are pulling
the growth of the IT service management tools market.
Global IT Service Management Tools Market: Forecast Analysis
As per the research report on the market for IT service management tools, the global market is
estimated to reach a value of more than US$ 5 Bn by the end of the assessment year from a value of
about US$ 2.6 Bn in 2017 and is projected to grow at a high CAGR of 9.3% during the period of
forecast, 2017-2025.
Global IT Service Management Tools Market: Segmental Highlights
The global IT service management market is segmented by type, by deployment, by industry
and by region.
By type, the configuration management segment is expected to showcase high potential in the years
to follow. This segment is expected to lead the global market with respect to market value. It is
estimated at more than US$ 700 Mn in 2017 and is expected to reach a valuation of more than US$
1.4 Bn by the end of the period of assessment with a robust CAGR
In the deployment category, the cloud segment is expected to witness higher adoption in the future.
This segment gained quick popularity owing to various benefits it offers. The cloud deployment
segment is expected to grow at a high CAGR of 10.1% throughout the period of assessment. On the
contrary, the on-premise segment is anticipated to lead the market with a high estimation as it is
poised to reach about US$ 3 Bn by the end of 2025
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