ITSM consulting, implementation and managed services market Size, Share, Growth, and Industry Analysis, By Type (ITSM Implementation Services, ITSM Consulting Services, ITSM Managed Services), By Application (SMEs and Large Enterprises) and Regional Insights and Forecast to 2031

Updated On: 29 April 2024

ITSM CONSULTING, IMPLEMENTATION AND MANAGED SERVICES MARKET REPORT OVERVIEW

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The global ITSM consulting, implementation and managed services market size was USD 13780 million in 2022 and will touch USD 55324.38 million by 2031, at CAGR of 16.7% during the forecast period.

The ITSM consulting, implementation and managed services market is a segment of the IT service management (ITSM) industry that focuses on providing professional and managed services for ITSM solutions. ITSM solutions are software applications that help organizations to plan, design, deliver, operate, and improve their IT services, in alignment with their business goals and customer expectations. ITSM solutions cover various IT processes, such as service desk, incident management, problem management, change management, configuration management, and service level management.

The market is expected to grow significantly in the coming years, due to the increasing complexity and diversity of IT systems and infrastructure, the growing need for compliance with industry standards and regulations, and the rising adoption of cloud computing and other emerging technologies. ITSM consulting, implementation and managed services can help organizations to implement and optimize their ITSM solutions, ensuring high-quality service delivery, cost reduction, risk mitigation, and customer satisfaction.

COVID-19 Impact: Market Growth Restrained by Pandemic due to Supply Chain Disruptions

The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden market growth reflected by the rise in CAGR is attributable to market’s growth and demand returning to pre-pandemic levels.

The COVID-19 pandemic has had a significant impact on the ITSM consulting, implementation and managed services market share. The pandemic has also posed some challenges for the Market. The pandemic has disrupted the supply chains and operations of many ITSM vendors and service providers, affecting their ability to deliver timely and quality solutions and services to their clients. The pandemic has also reduced the IT spending and budgets of many organizations, especially in the sectors that have been severely affected by the crisis, such as travel, hospitality, and retail. This has reduced the demand for ITSM consulting, implementation and managed services in some segments of the market.

LATEST TRENDS

"Adoption of Artificial Intelligence (AI) and Automation Technologies to Drive Market Growth"

A recent market trend that is influencing the Market is the adoption of artificial intelligence (AI) and automation technologies. AI and automation technologies can enhance the capabilities and performance of ITSM solutions and services by enabling faster and more accurate IT service delivery, incident resolution, change management, problem management, and other IT processes. AI and automation technologies can also improve the user experience and satisfaction by providing personalized and proactive IT support, self-service options, and Chabot. AI and automation technologies can also help ITSM vendors and service providers to reduce their operational costs, optimize their resources, and increase their competitive advantage.

ITSM CONSULTING, IMPLEMENTATION AND MANAGED SERVICES MARKET SEGMENTATION

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• By Type

Based on type the global market can be categorized into ITSM Implementation Services, ITSM Consulting Services, ITSM Managed Services.

ITSM implementation services are the services that help organizations to install, configure, integrate, and customize their ITSM solutions, according to their specific needs and preferences. ITSM consulting services are the services that provide expert guidance and advice to organizations on how to plan, design, improve, and optimize their ITSM processes and practices, in alignment with their business goals and customer expectations. ITSM managed services are the services that offer ongoing support and maintenance for ITSM solutions, ensuring their functionality, security, and performance. ITSM managed services also include outsourcing and cloud-based services, which allow organizations to access ITSM solutions and services remotely, without having to invest in their own IT infrastructure and resources.

• By Application

Based on application the global market can be categorized into SMEs and Large Enterprises.

SMEs are small and medium-sized enterprises that have less than 250 employees and a turnover of less than EUR 50 million. Large enterprises are enterprises that have more than 250 employees and a turnover of more than EUR 50 million. SMEs and large enterprises have different needs and preferences for ITSM solutions and services, depending on their size, scope, and complexity of their IT systems and infrastructure. SMEs typically require ITSM solutions and services that are affordable, easy to use, and scalable, as they have limited IT resources and budgets. Large enterprises usually require ITSM solutions and services that are comprehensive, customized, and integrated, as they have complex and diverse IT environments and processes. Therefore, ITSM vendors and service providers offer different types of ITSM solutions and services to cater to the specific requirements and expectations of SMEs and large enterprises.

DRIVING FACTORS

"Increasing Complexity and Diversity of IT Systems And Infrastructure to Boost the Market"

As organizations adopt new and emerging technologies, such as cloud computing, Internet of Things (IoT), big data, and blockchain, their IT systems and infrastructure become more complex and diverse, requiring effective management solutions and services. ITSM solutions and services can help organizations to manage and integrate their IT systems and infrastructure, ensuring high-quality service delivery, cost reduction, risk mitigation, and alignment with business objectives.

"Growing Need for Compliance with Industry Standards and Regulations to Expand the Market"

Organizations operating in various sectors, such as healthcare, finance, education, and government, have to comply with various industry-specific standards and regulations, such as HIPAA, PCI DSS, GDPR, and NIST. These standards and regulations require organizations to implement and maintain ITSM solutions and services that can track and document IT processes, facilitate audits, and demonstrate adherence to these standards and regulations. ITSM solutions and services can also help organizations to protect their sensitive data and information from cyberattacks and breaches.

RESTRAINING FACTOR

"Lack of Skilled and Experienced ITSM Professionals to Potentially Impede Market Growth"

A restraining factor that is hampering the growth of the Market is the lack of skilled and experienced ITSM professionals. ITSM consulting, implementation and managed services require a high level of expertise and knowledge in various IT domains, such as IT service strategy, design, transition, operation, and improvement. ITSM professionals also need to have strong communication, collaboration, and problem-solving skills, as well as the ability to adapt to changing customer needs and expectations. However, there is a shortage of qualified and certified ITSM professionals in the market, which limits the availability and quality of ITSM solutions and services.

ITSM CONSULTING, IMPLEMENTATION AND MANAGED SERVICES MARKET REGIONAL INSIGHTS

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"Asia Pacific Region Dominating the Market due to Owing to the Rapid Digitalization "

Asia Pacific is expected to be the highest ITSM consulting, implementation and managed services market growth. The rapid digitalization and modernization of various industries, such as manufacturing, healthcare, education, and e-commerce, in the region, which has increased the demand for ITSM solutions and services to manage and optimize their IT systems and infrastructure.

KEY INDUSTRY PLAYERS

"Key Industry Players Shaping the Market through Innovation and Market Expansion"

The ITSM consulting, implementation and managed services market is significantly influenced by key industry players that play a pivotal role in driving market dynamics and shaping consumer preferences. These key players possess extensive retail networks and online platforms, providing consumers with easy access to a wide variety of wardrobe options. Their strong global presence and brand recognition have contributed to increased consumer trust and loyalty, driving product adoption. Moreover, these industry giants continually invest in research and development, introducing innovative designs, materials, and smart features in cloth wardrobes, catering to evolving consumer needs and preferences. The collective efforts of these major players significantly impact the competitive landscape and future trajectory of the market.

List of Market Players Profiled

• Accenture (Ireland)
• Acorio (U.S.)
• Atos (France)
• Capgemini (France)
• Cask (U.S.)
• Cognizant (U.S.)
• Computer Design & Integration (U.S.)
• Coreio (Canada)
• DXC Technology (U.S.)
• Deloitte (U.K.)
• Fujitsu (Japan)
• GlideFast Consulting (U.S.)
• HCL Technologies (India)
• IBM (U.S.)
• Infosys (India)
• KPMG (Netherlands)
• SuMO IT Solutions (Canada)
• Unisys (U.S.)
• Volteo (U.S.)
• Wipro (India)

INDUSTRIAL DEVELOPMENT

August 2023:  One of the recent industrial developments in the market is the integration of Jira Service Management with Virima’s advanced IT tools. This invention was launched in August 2023 by Virima Inc. and T4S Partners, a leading ITSM consulting and managed services provider. The integration of Jira Service Management with Virima’s advanced IT tools, such as hybrid discovery, comprehensive CMDB, service mapping, and ViVID, offers a powerful and comprehensive ITSM solution that can help organizations to manage and optimize their IT assets, services, and processes.

REPORT COVERAGE

The study encompasses a comprehensive SWOT analysis and provides insights into future developments within the market. It examines various factors that contribute to the growth of the market, exploring a wide range of market categories and potential applications that may impact its trajectory in the coming years. The analysis takes into account both current trends and historical turning points, providing a holistic understanding of the market's components and identifying potential areas for growth.

The research report delves into market segmentation, utilizing both qualitative and quantitative research methods to provide a thorough analysis. It also evaluates the impact of financial and strategic perspectives on the market. Furthermore, the report presents national and regional assessments, considering the dominant forces of supply and demand that influence market growth. The competitive landscape is meticulously detailed, including market shares of significant competitors. The report incorporates novel research methodologies and player strategies tailored for the anticipated timeframe. Overall, it offers valuable and comprehensive insights into the market dynamics in a formal and easily understandable manner.