This global market research report presents a detailed segmentation of the global IT management as a service (ITMaaS) market by application (systems and network monitoring and management, problem management, and resource utilization, capacity planning, and billing), by end user (IT and telecom, BFSI, public sector, and others), and by geography (Americas, APAC, and EMEA). The key vendors analyzed in this market research are ServiceNow, HP, CA Technologies, and BMC Software.
Technavio’s market research analysts estimate the global IT management as a service (ITMaaS) market to grow at a CAGR of over 38% by 2020. The growing need to reduce IT costs will be the primary growth driver for this market. Since ITMaaS helps to reduce the burden on in-house IT departments and also reduces the implementation costs, the software requirements associated with IT management and maintenance are shifted from internal IT departments to ITMaaS vendors or service providers.
The new industry research report from Technavio provides a breakdown and analysis of the ITMaaS market by application.
“Organizations are increasingly dependent on IT to run their businesses, but are under constant pressure to manage IT assets efficiently. Thus, the need to manage and protect IT assets with cost efficiencies has boosted spending on cloud monitoring and management solutions. These tools help measure and interpret performance data accurately, thereby improving system performance and networks through predictive network analysis procedures. Further, we expect the growing popularity of mobile devices and the introduction of various BYOD programs to boost growth in this segment,” says Amit Sharma, Lead Analyst, ICT, Technavio Research.
In terms of end user, the IT and telecom segment led the market with a share of approximately 29%. Factors such as the rising need to improve omnichannel customer experiences and to diversify digital offerings have bolstered the prospects for growth in this market. Since this sector collects a vast amount of customer data, the need for cloud-based IT management solutions for the effective management of its IT systems and networks will increase exponentially during the next four years.
Global ITMaaS market by end-user 2015
Source: Technavio
The key players in the global ITMaaS market are ServiceNow, HP, CA Technologies, and BMC Software. The vendors in this market are providing additional cloud application features to remain competitive in the market. Further, with many organizations now adopting a hybrid cloud infrastructure by utilizing the best of both private and public cloud models, the need for the ITMaaS is increasing.
A more detailed analysis is available in the Technavio report Global IT Management As A Service Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
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