The global problem management software is anticipated to grow at a CAGR of 14.5% during the forecast period. The US is anticipated to hold a considerable share of the global problem management software market, owing to the growing adoption of problem management software across various industries, including BFSI, retail, IT, and Telecom across the country. There exist an increasing demand among these industries to efficiently manage the lifecycle of all problems that could happen in an IT service infrastructure. The region is a pioneer in technology adoption and IT infrastructure optimization.
Additionally, the region is a pioneer in the adoption of cloud services including cloud-based problem management software, the market is projected to grow during the forecast period. Moreover, the region has a strong foothold of problem management software vendors contributing to the market’s growth. Some include Atlassian Inc., BMC Software, Inc., Freshworks Inc., and ServiceNow, Inc. among others. Furthermore, according to the US Small Business Administration (SBA), more than 30.2 billion small businesses in the US use problem management software to solve problems regarding IT service. Small businesses comprise about 99.9% of all US businesses. Thus, the rise in the number of small and medium-sized companies in the US is expected to drive the market’s growth.
Moreover, new startups are emerging in the problem management software market and further getting support from rising regional investments. For instance, in March 2023, FieldOS, a start-up that has launched a mobile solution to solve the real-time problems that a physical asset would have, is targeting a round of $664,289, of which $21,428 on SeedBlink, an investment platform that enables the ?nancing of European technology start-ups. The sum will be used mainly for the company’s international expansion, in the restaurant segment in the US and in the office and residential building area in the UK.
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Market Coverage
- The market number available for – 2022-2030
- Base year- 2022
- Forecast period- 2023-2030
Segment Covered-
- By Deployment Model
- By End-User Vertical
Regions Covered-
- North America
- Europe
- Asia-Pacific
- Rest of the World
Competitive Landscape- including Atlassian Inc., BMC Software, Inc., Freshworks Inc., and ServiceNow, Inc. among others.
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Problem Management Software Market Report Segment
By Deployment
- On-Premises
- Cloud
By End-User Vertical
- BFSI
- IT & Telecommunication
- Retail & E-Commerce
- Healthcare
- Manufacturing
- Others (Transportation & Logistics)
Problem Management Software Report Segment by Region
North America
- United States
- Canada
Europe
- UK
- Germany
- Spain
- France
- Italy
- Rest of Europe
Asia-Pacific
- India
- China
- Japan
- South Korea
- Rest of APAC
Rest of the World
- Latin America
- Middle East and Africa
Company Profiles
- BMC Software, Inc.
- Cherwell Software, LLC
- Freshworks Inc.
- Halo Service Solutions Ltd.
- InvGate
- Ivanti, Inc.
- Mindarray Systems Pvt. Ltd.
- ServiceNow, Inc.
- Soft Expert Software
- SolarWinds Worldwide LLC
- SysAid Technologies Ltd.
- TeamQuest Corp.
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