IT service management (ITSM) refers to the entirety of activities – directed by policies, organized and structured in processes and supporting procedures – that are performed by an organization to design, plan, deliver, operate and control information technology (IT) services offered to customers. It is thus concerned with the implementation of IT services that meet customers' needs, and it is performed by the IT service provider through an appropriate mix of people, process and information technology.
Differing from more technology-oriented IT management approaches like network management and IT systems management, IT service management is characterized by adopting a process approach towards management, focusing on customer needs and IT services for customers rather than IT systems, and stressing continual improvement.

Market Analysis and Insights: Global ITSM Market
The research report studies the ITSM market using different methodologies and analyzes to provide accurate and in-depth information about the market. For a clearer understanding, it is divided into several parts to cover different aspects of the market. Each area is then elaborated to help the reader comprehend the growth potential of each region and its contribution to the global market. The researchers have used primary and secondary methodologies to collate the information in the report. They have also used the same data to generate the current market scenario. This report is aimed at guiding people towards an apprehensive, better, and clearer knowledge of the market.
The global ITSM market size is projected to reach US$ 7976.3 million by 2026, from US$ 3470.1 million in 2020, at a CAGR of 14.9% during 2021-2026.

Global ITSM Scope and Segment
The global ITSM market is segmented by company, region (country), by Type, and by Application. Players, stakeholders, and other participants in the global ITSM market will be able to gain the upper hand as they use the report as a powerful resource. The segmental analysis focuses on revenue and forecast by region (country), by Type, and by Application for the period 2015-2026.

Segment by Type, the ITSM market is segmented into
Service portfolio management
Configuration and change management
Service desk software
Operations and performance management
Dashboard, reporting, and analytics

Segment by Application, the ITSM market is segmented into
Banking, Financial Services, and Insurance (BFSI)
Telecommunication and IT
Healthcare and life sciences
Retail and Consumer Packaged Goods (CPG)
Government and public sector
Energy and utilities
Travel and hospitality
Manufacturing
Education

Global ITSM market: regional analysis, the major regions covered in the report are:
North America
United States
Canada
Europe
Germany
France
U.K.
Italy
Russia
Nordic
Rest of Europe
Asia-Pacific
China
Japan
South Korea
Southeast Asia
India
Australia
Rest of Asia-Pacific
Latin America
Mexico
Brazil
Middle East & Africa
Turkey
Saudi Arabia
UAE
Rest of Middle East & Africa

The report lists the major players in the regions and their respective market share on the basis of global revenue. It also explains their strategic moves in the past few years, investments in product innovation, and changes in leadership to stay ahead in the competition. This will give the reader an edge over others as a well-informed decision can be made looking at the holistic picture of the market.

The major vendors covered:
BMC Software
Broadcom
Servicenow
Cherwell Software
HPE
Citrix Systems
Axios Systems
IBM
Heat Software