TECH SUPPLIER Oct 2019 - Market Forecast - Doc # US45583919
Worldwide System and Service Management Software Forecast Update, 2019-2023
By: Tim GrieserResearch Vice President, Enterprise System Management Software, Stephen ElliotProgram Vice President, Management Software and DevOps, Shannon KalvarResearch Manager , IT Service Management and Client Virtualization
This IDC study provides an updated sizing and five-year forecast (2019-2023) for the worldwide system and service management software market. According to IDC estimates, the worldwide IT system and service management software market achieved revenue of $22.1 billion in 2018. The market as a whole is forecast to grow at a compound annual growth rate (CAGR) of 9.3% during the 2019-2023 forecast period with the public cloud-based segment growing at a much higher rate (26.3%). This forecast is an update of the previous March 2019 forecast. This update incorporates market data and outlook as of October 2019 (see Worldwide System and Service Management Software Forecast, 2019–2023, IDC #US44896218, March 2019 for previous forecast).
This IDC study provides an updated sizing and five-year forecast (2019-2023) for the worldwide system and service management software market.
"The market is being driven by the need to monitor, manage, and optimize systems, infrastructure, applications, and end-user experience across increasingly complex virtualized, containerized, on-premises, hybrid cloud, public cloud, and multicloud deployments." — Tim Grieser, research vice president, Enterprise System Management Software
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