The global ITACM and ITOM market is anticipated to grow at a significant CAGR during the forecast period 2024-2031. ITACM, as IT automation and configuration management and ITOM, as IT operation management are the two most dominant types of cloud management software. This software is known as a set of technologies that collectively work together to manage the operations of cloud software. Improved, monitored, and managed resource management for organizations are the most convenient solution offered by this ITACM and ITOM software.
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The increasing utilization of cloud management solutions in various organizations to collaborate technologies and software to manage the cloud surroundings and integration of cloud infrastructure across the globe is anticipated to drive the growth of the global ITACM and ITOM market during the forecast period. The rising focus on big data analytics, artificial intelligence (AI), and digital transformation solutions among multiple organizations boost the adoption of cloud computing technologies, which, in turn, is expected to propel the growth of the global ITACM and ITOM market. Additionally, the duration of COVID-19 significantly raises the demand for hybrid and multi-cloud management software to leverage various employees connected with organizations to communicate and consume OTT streaming services and allows organizations to introduce work from home services for employees connected with the network. Thus, the factors mentioned above will support the market growth and create ample growth opportunities for the global ITACM and ITOM market during the forecast period.
Besides, the key players present in the global ITACM and ITOM market including SolarWinds, IBM, Cisco, Microsoft, and others are adopting various strategies that include product launches, market expansion, research & developments, mergers & acquisitions, among others to remain competitive in the market. For instance, in February 2021, Siemens AG, Red Hat Inc., and IBM Corp. announced a strategic merger and acquisition with this collaboration to utilize a hybrid cloud that offers manufacturers and operators an open, secure, and adaptable solution for extracting real-time value from operational data.
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Market Coverage
- Segment Covered
- Regions Covered- Globally
- Competitive Landscape- Splunk, SolarWinds, IBM, Cisco, Microsoft, BMC, VMware, Elastic, among others.
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominates the market in base year?
- Which segment and region will project fastest growth in the market?
- How COVID-19 impacted the market?
o Recovery Timeline
o Deviation from pre-COVID forecast
o Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
Global ITACM and ITOM Market by Segment
By Type
- Configuration Management
- Cloud and Hybrid Management
- Infrastructure Management
- Service Orchestration and Automation Platforms
- Infrastructure Monitoring
- Application Monitoring
- Network Monitoring
By Application
- Large Enterprises
- Small and Medium-Sized Enterprises
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