As organizations become decidedly clearer about investing in more agile IT infrastructure, players in the IT operations and services management (ITOSM) market are compelled to be highly responsive to this change, a new report by Transparency Market Research finds. To this end, the change in the ITOSM competitive landscape is already evident.
The future of IT operations and service management will
increasingly be defined by the sharp focus on an unmatched end-user experience
and customer satisfaction – the two proven ways of ensuring that key accounts
stay with the service provider.
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The global IT operations and service management (ITOSM)
market had reached US$17.44 bn in 2015. The market is on pace to exhibit a 6.5%
CAGR between 2016 and 2024.
Asia Pacific will be front and center of the global IT
operations and service management (ITOSM) market in terms of growth rate.
Countries such as China, India, Japan, and South Korea are witnessing rising
investor interest in enterprise IT and, subsequently, ITOSM. This trend will
manifest in the form of an 8.1% CAGR for the Asia Pacific ITOSM market.
Rising Association with Telecom Sector to Support Market
Development
In spite of the fact that the popularity of big-scale IT has
noticeably been high in the large associations, mid and small-sized
organizations are as yet not convinced on putting resources into IT operations
and service management since they are in constant doubt about the ROI. While
this hampers the development of the ITOSM market’s development, it is a space
where undiscovered opportunities could be found.
In any case, as more associations in the IT and telecom and
manufacturing segments compete to stay up to date with the most recent patterns
in big business IT, especially cloud computing, the installation of IT
operations and service management system is expected to grow,. The requirement
for IT application management, management of workload, and configuration is
estimated to rise, helping the ITOSM market.
Advancement in Digitization to Contribute in Market
Development
Cloud computing is a latest trend that has altogether
affected the operation method of business. The increasing prevalence of cloud
system has altered the working models of a company. Centralization and
consolidation are the key benefits of the cloud based systems, it has
essentially fastened the demand for ITOSM.
Digitization is making advances into almost every sector
driving lucrative opportunities for organizations in the IT sector companies
and services business. The estimation of each solution is being estimated
dependent on how coordinated, adaptable, and responsive it is – particularly
with regards to cloud-based frameworks. Against this, investments with respect
to IT operations and service management is likely to stay positive.
This has brought about a more prominent type of services
being offered by organizations competing for a bigger share of the ITOSM
market.
The reconciliation of IT operations and service management
solutions is the key hindrance that players are right now attempting to work
upon. The efficient effort needed along with various phases and co-related
procedures in IT operations and service management is making the installation
difficult. The combination of services sourced from numerous providers is
likewise become a challenge as well. In this situation, the accomplishment of
the ITOSM solutions essentially relies upon how the service supplier can
characterize the better subtleties in the SLA.
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The data and information presented is based on the findings
of a TMR report, titled “IT Operations and Service Management (ITOSM) Market
(ITOM Type – Configuration, Automation and Discovery, Event Management, Cloud
Provisioning, Workload and IT Automation; End-use – BFSI, Telecom and IT,
Government, Healthcare/Medical/Pharmaceutical, Aerospace/Defense,
Retail/Wholesale/Distribution, Manufacturing, Education,
Hospitality/Entertainment/Recreation/Travel, Energy and Utilities) – Global
Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 – 2024.”
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