In this blog post, we will delve into the latest statistics and trends shaping the IT Service Management (ITSM) industry. Stay tuned to gain valuable insights into the current landscape of ITSM and how businesses are navigating this evolving field through data-driven decisions and strategies.
The Latest Itsm Industry Statistics Explained
By 2026, the global IT service management (ITSM) market is expected to reach USD 12.2 billion, with a compound annual growth rate (CAGR) of 7.4% from 2021.
This statistic indicates the projected growth of the global IT service management (ITSM) market up to the year 2026. It states that the market is expected to reach a value of USD 12.2 billion by 2026, with a compound annual growth rate (CAGR) of 7.4% starting from the year 2021. This suggests a steady increase in market size over the next five years, driven by factors such as the increasing adoption of digital technologies, the growing importance of efficient IT service delivery in businesses, and the rising demand for IT solutions to support remote work and digital transformation initiatives. The projected CAGR of 7.4% reflects a healthy growth trajectory for the ITSM market, highlighting the continued significance and investment in IT service management solutions globally.
In 2020, the global ITSM market was valued at approximately USD 6.2 billion.
The statistic states that the global IT Service Management (ITSM) market had an estimated value of USD 6.2 billion in 2020. This figure represents the total revenue generated by the sale of ITSM software, services, and solutions worldwide during that year. The value indicates the significant size and importance of the ITSM market within the broader information technology industry. It suggests that organizations are increasingly investing in ITSM tools and services to effectively manage and optimize their IT infrastructure, streamline processes, enhance productivity, and ensure high-quality service delivery across their operations. The substantial market value also reflects the growing demand for ITSM solutions as businesses continue to digitalize their operations and prioritize efficient IT management practices in today’s technology-driven landscape.
Approximately 82% of ITSM professionals think that IT will play a greater strategic role in businesses in the future.
The statistic indicates that a significant majority, around 82%, of IT Service Management (ITSM) professionals believe that Information Technology (IT) will have an increasingly strategic impact on businesses in the future. This suggests that these professionals recognize the growing importance of IT in driving business functions and decision-making processes. The perception that IT will play a more crucial role suggests a shift towards viewing IT not merely as a support function but as a key strategic asset that can drive innovation, competitive advantage, and overall business success. This statistic highlights the increasing recognition of the strategic value that IT can bring to organizations in navigating the evolving technological landscape and achieving their business objectives.
As per a survey, around 85% of companies utilise one or multiple ITSM platforms.
The statistic stating that around 85% of companies utilize one or multiple ITSM (IT Service Management) platforms signifies a high prevalence of the use of such technology in the corporate world. This indicates a significant reliance on ITSM solutions for managing and delivering IT services within organizations. The percentage suggests that the majority of companies recognize the value of ITSM platforms in enhancing efficiency, streamlining processes, and improving service delivery in their operations. It also implies that ITSM platforms have become fundamental tools for modern businesses to effectively manage their IT infrastructure and support their overall business objectives.
Roughly 46% of businesses are planning to increase their ITSM spending.
The statistic stating that roughly 46% of businesses are planning to increase their ITSM (Information Technology Service Management) spending indicates a significant trend towards prioritizing investments in IT service management within organizations. This suggests that a substantial portion of businesses recognize the importance of efficient and effective IT services to support their overall operations and growth strategies. The decision to allocate more resources towards ITSM reflects a proactive approach by these companies towards enhancing their IT infrastructure, potentially improving service delivery, support, and overall IT governance. This statistic underscores the growing significance of ITSM in enabling businesses to stay competitive and meet the evolving technological demands of the contemporary business landscape.
Around 40% of IT teams use ITSM solutions to support agile and DevOps adoption.
The statistic indicates that approximately 40% of IT teams utilize IT Service Management (ITSM) solutions to facilitate the implementation and operational support of agile and DevOps practices within their organizations. This suggests a significant portion of IT departments are leveraging ITSM tools to streamline and optimize their processes in alignment with agile methodologies for iterative development and DevOps principles for collaboration and efficiency. By integrating ITSM solutions, these teams can better manage workflows, automate tasks, and enhance communication to effectively support the agile and DevOps frameworks, ultimately promoting enhanced productivity and innovation within their organizations.
The Asia Pacific ITSM market is projected to witness the highest CAGR of approximately 9% during the forecast period.
The statistic indicates that the Asia Pacific IT Service Management (ITSM) market is expected to experience the highest Compound Annual Growth Rate (CAGR) of around 9% over the forecast period. This suggests a significant growth potential in the ITSM sector in the Asia Pacific region, driven by factors such as increasing adoption of digital transformation initiatives, growing focus on improving IT service delivery and efficiency, and the expansion of IT infrastructure in the region. The projection of a high CAGR signifies strong market opportunities and demand for ITSM solutions and services in the Asia Pacific region, making it an attractive market for businesses operating in the IT industry.
The large enterprise segment dominated the ITSM market with a share of 67.3% in 2020.
The statistic indicates that within the IT Service Management (ITSM) market in 2020, the large enterprise segment held a substantial lead with a share of 67.3%, suggesting that a significant majority of ITSM business activities and expenditure were driven by large companies. This dominance implies that larger entities, with their greater resources and infrastructure, were the primary drivers and beneficiaries of ITSM solutions and services in 2020. This statistic underscores the importance of catering to the needs and demands of large enterprises within the ITSM industry and highlights the potential for continued growth and innovation in this segment.
Around 39% of businesses use cloud-based ITSM because it is more cost-effective.
The statistic that around 39% of businesses use cloud-based ITSM because it is more cost-effective indicates a significant adoption of cloud-based IT service management within organizations. This suggests that a considerable portion of businesses are leveraging cloud-based solutions to streamline their IT service management processes, presumably due to the perceived cost savings compared to traditional on-premises systems. The statistic highlights the growing recognition among organizations of the economic benefits associated with cloud-based ITSM, such as reduced upfront investment in hardware and infrastructure, lower maintenance costs, and scalability. This trend aligns with the broader industry shift towards cloud computing, reflecting a strategic decision by businesses to optimize their IT operations while also managing costs effectively.
Approximately 56% of ITSM teams are handled by less than 10 IT staff.
The statistic indicates that a majority, specifically around 56%, of IT Service Management (ITSM) teams are comprised of fewer than 10 IT staff members. This suggests that a significant portion of organizations handle their IT service management functions with relatively small teams. Such small teams may face challenges in managing the demands and complexities of IT service delivery, potentially leading to resource constraints and limitations in effectively supporting organizational IT needs. Strategies to optimize productivity, enhance collaboration, and potentially invest in additional resources or technologies may be warranted for these ITSM teams to operate efficiently and effectively.
The SaaS segment will be the fastest-growing delivery model in the ITSM market, with a CAGR of 8.1%.
This statistic indicates that the Software as a Service (SaaS) segment within the IT Service Management (ITSM) market is expected to experience rapid growth, with a Compound Annual Growth Rate (CAGR) of 8.1%. This suggests that more organizations are adopting SaaS solutions for managing their IT services due to factors such as cost-effectiveness, scalability, and ease of implementation. The predicted growth rate indicates a significant shift towards cloud-based IT service management solutions, highlighting the increasing demand for flexible and efficient technology delivery models in the industry.
Out of businesses that adopted IT service management in 2020, almost 70% praised it for increased efficiency.
The statistic indicating that almost 70% of businesses that adopted IT service management in 2020 praised it for increased efficiency suggests a strong positive correlation between the implementation of IT service management practices and business efficiency. This data implies that a significant majority of organizations experienced noticeable improvements in their operational performance after integrating IT service management into their processes. The high percentage of endorsements for increased efficiency highlights the perceived value and benefits derived from adopting IT service management practices, making it a compelling option for organizations seeking to optimize their IT infrastructure and enhance overall business performance in a rapidly evolving digital landscape.
Nearly 45% of service desk professionals say that tracking and managing IT assets is the biggest challenge in ITSM.
The statistic indicates that a significant portion, specifically around 45%, of service desk professionals believe that the most formidable obstacle in IT Service Management (ITSM) is the tracking and management of IT assets. This suggests that ITSM professionals are encountering difficulties in effectively monitoring and controlling various components such as hardware, software, and equipment within their organization’s IT infrastructure. This challenge could potentially stem from issues related to inventory accuracy, asset lifecycle management, compliance concerns, or the complexities involved in maintaining a comprehensive overview of all IT assets. Addressing this challenge is crucial for organizations to streamline IT operations, enhance efficiency, and ensure optimal performance and security of their IT systems.
Around 87% of organizations are using Agile methods for more than just software development.
This statistic suggests that Agile methods, originally designed for software development, have gained widespread adoption across various industries and organizational functions beyond just software development. Around 87% of organizations have recognized the value of Agile principles and practices in fostering faster delivery of products or services, enhancing flexibility, improving team collaboration, and promoting customer-centricity. This indicates a shift towards more agile and adaptive ways of working that are not limited to the realm of software development but are being embraced as an approach to drive innovation and improve overall organizational performance in diverse sectors.
The IT organizations seeing the highest return on their ITSM investments are those investing 60% to 100% of their software spend on cloud services.
The statistic suggests that IT organizations which allocate a significant portion of their software spending towards cloud services, ranging from 60% to 100%, are experiencing the highest return on their investments in IT Service Management (ITSM). This indicates that leveraging cloud services plays a crucial role in enhancing the efficiency, effectiveness, and overall success of IT operations within an organization. By investing a substantial amount in cloud services, these IT organizations are likely benefiting from increased scalability, flexibility, cost-efficiency, and improved service delivery, leading to a higher return on investment compared to organizations that allocate less towards cloud services.
The ITSM services segment held a market share of around 60% in 2019.
The statistic ‘The ITSM services segment held a market share of around 60% in 2019’ indicates that within the IT service management (ITSM) industry, services such as consulting, implementation, and support held a significant portion of the overall market. This suggests that customer demand and investment were largely focused on service-related offerings in 2019, highlighting the importance of effective service delivery and management in the industry. The market share figure of 60% implies a dominant position for ITSM services compared to other segments, such as software solutions or hardware products, indicating that service-based solutions were the preferred choice for businesses seeking to manage their IT operations and infrastructure effectively during that period.
According to a study, around 46% of companies intend to invest more in ITSM tools within the next two years.
The statistic indicates that nearly half of the companies surveyed are planning to increase their investments in IT Service Management (ITSM) tools over the next two years. This suggests a growing recognition among organizations of the importance of ITSM in enhancing operational efficiency, improving service delivery, and ensuring business continuity. The planned increase in investment signifies a proactive approach by companies to leverage technology to meet evolving business needs and stay competitive in a digital landscape. By prioritizing ITSM tools, organizations aim to streamline their IT operations, optimize resource allocation, and enhance overall performance, highlighting the strategic significance of IT management in driving business success and innovation.
According to data, 65% of businesses say improving user experience and satisfaction is a high priority for their IT service desks.
The statistic stating that 65% of businesses prioritize improving user experience and satisfaction for their IT service desks indicates a strong emphasis on customer-centricity within the industry. This data suggests that a majority of businesses recognize the importance of providing high-quality service and support to their users, highlighting a shift towards customer-focused strategies in IT service management. By prioritizing user experience and satisfaction, businesses can enhance operational efficiency, increase productivity, and ultimately improve overall customer loyalty and satisfaction levels. Therefore, this statistic reflects a growing recognition of the significant impact that customer satisfaction can have on the success and competitiveness of IT service desks.
Conclusion
It is evident from the industry statistics discussed in this blog post that the IT Service Management (ITSM) industry is rapidly growing and evolving. Organizations are increasingly recognizing the importance of implementing robust ITSM practices to enhance efficiency, productivity, and customer satisfaction. By staying abreast of the latest trends and statistics in the ITSM industry, businesses can make informed decisions and stay ahead of the competition. Embracing innovative technologies and best practices will be key to success in the dynamic landscape of ITSM.
References
0. – https://www.www.infotech.com
1. – https://www.www.dmcsoftware.co.uk
2. – https://www.www.grandviewresearch.com
3. – https://www.www.financesonline.com
4. – https://www.www.manageengine.com
5. – https://www.www.atlassian.com
6. – https://www.www.cherwell.com
7. – https://www.www.statista.com
8. – https://www.www.globenewswire.com
9. – https://www.www.techrepublic.com
10. – https://www.www.serchen.com
