Information Technology Service Management Market Analysis

Information Technology Service Management Market Analysis:

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Based on enterprise size, the large enterprises segment accounted for around 75% of the market share in 2022. Large organizations have complex IT infrastructures, necessitating comprehensive ITSM solutions for efficient management. Increasing digital transformation initiatives, cybersecurity concerns, and a desire for improved operational efficiency are driving adoption in this segment. Additionally, as large enterprises expand, they require scalable and customizable ITSM solutions to meet their evolving needs.
 

Based on technology, the network management segment captured about 27% of the market share in 2022, due to the increasing complexity of network infrastructure. With the proliferation of remote work, IoT devices, and cloud services, ITSM is increasingly incorporating robust network management capabilities. For instance, in June 2023, Nokia launched a new network management solution, MantaRay, which leverages AI/ML to enhance Radio Access Network (RAN) operations. The MantaRay portfolio encompasses network management, core network management, Self-Organizing Networks (SONs), and RAN Intelligent Controller (RIC), enabling more intelligent, efficient & cognitive network management.
 

North America region acquired more than 38% of the information technology service management market share in 2022. North America is home to numerous technologically advanced enterprises that are increasingly adopting ITSM to streamline operations, enhance customer experiences, and improve efficiency. Additionally, the stringent regulatory environment in North America, especially regarding data security and privacy, is driving the adoption of ITSM solutions. As digital transformation continues to be a top priority, North America remains a significant market for ITSM with continued expansion expected to meet the growing demand.