In 2023, the global IT Service Management (ITSM) software market surged to nearly $10.7 billion, growing by 18.6%. The top 10 vendors commanded a significant 82.7% market share, with ServiceNow leading at 45.2%, followed by Atlassian, BMC Software, GoTo, and Ivanti.
Our APPS TOP 500 Market Report (Preview) covers thousands of ITSM software vendors, offering deep insights into market dynamics, vendor strengths, AI investments, customer momentum, and go-to-market strategies providing valuable perspectives on market trends and challenges.
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Through our forecast period, the ITSM applications market size is expected to reach $14 billion by 2028, compared with $10.7 billion in 2023 at a compound annual growth rate of 5.5%.
| Exhibit 2: Worldwide IT Service Management Software Market 2023-2028 Forecast, $M | |||
|---|---|---|---|
| Year | 2023 | 2028 | 2023-2028 CAGR, % |
| Total | 10725 | 13989 | 5.5% |
Source: Apps Run The World, June 2024
Top 10 IT Service Management Software Vendors
ITSM applications are being used to make a growing number of employee self-service functions possible through enterprise service management for asset, incident and project management. ITSM applications are considered a derivative market with revenue contribution to functional areas such as Project and Portfolio Management and Enterprise Resource Planning.
Massive software projects to digitize business communities fuel growth of Cloud-based vendors such as Atlassian and ServiceNow as incumbents like BMC and CA race to meet changing IT requirements.
Here are the rankings of the top 10 IT Service Management software vendors in 2023 and their market shares.
| Rank | Vendor | 2021 IT Service Management Apps Revenues, $M | 2022 IT Service Management Apps Revenues, $M | 2023 IT Service Management Apps Revenues, $M | YoY Growth | 2023 IT Service Management Market Share, % |
|---|---|---|---|---|---|---|
| 1 | ServiceNow | Subscribe | Subscribe | Subscribe | 25.3% | Subscribe |
| 2 | Atlassian | Subscribe | Subscribe | Subscribe | 18.6% | Subscribe |
| 3 | BMC Software | Subscribe | Subscribe | Subscribe | 9.8% | Subscribe |
| 4 | GoTo | Subscribe | Subscribe | Subscribe | 4.9% | Subscribe |
| 5 | Ivanti | Subscribe | Subscribe | Subscribe | 2.5% | Subscribe |
| 6 | Microsoft | Subscribe | Subscribe | Subscribe | 4.1% | Subscribe |
| 7 | Broadcom | Subscribe | Subscribe | Subscribe | 8.5% | Subscribe |
| 8 | IBM | Subscribe | Subscribe | Subscribe | 1.6% | Subscribe |
| 9 | Kaseya (including Datto) | Subscribe | Subscribe | Subscribe | 2.3% | Subscribe |
| 10 | SolarWinds | Subscribe | Subscribe | Subscribe | 7.4% | Subscribe |
| Subtotal | Subscribe | Subscribe | Subscribe | 18.6% | Subscribe | |
| Other | Subscribe | Subscribe | Subscribe | 18.9% | Subscribe | |
| Total | 7724 | 9041 | 10725 | 18.6% | 100.0% |
Source: Apps Run The World, June 2024
Other ITSM software providers included in the report are: Access Group, Alemba, Aranda Software, Aurea, Axway, Baidu, Cisco Systems, Citrix, DataOcean, EasyVista, Espressive, Freshworks (formerly Freshdesk), Liferay, Lumen Technologies, Open Text Corporation, Oracle, QuickBase, Roper Technologies, Inc., Rippling, SAP, Splunk, Sumo Logic, SolarWinds, SysAid Technologies, TeamDynamix, TIBCO Software Inc., TOPdesk, Yonyou, Zoho Corp.
Custom data cuts related to the ITSM Applications market are available:
- Top 60+ ITSM Applications Vendors and Market Forecast 2023-2028
- 2023 ITSM Applications Market By Industry (21 Verticals)
- 2023 ITSM Applications Market By ITSM Segments and Categories
- 2023 ITSM Applications Market By Country (USA + 45 countries)
- 2023 ITSM Applications Market By Region (Americas, EMEA, APAC)
- 2023 ITSM Applications Market By Revenue Type (License, Services, Hardware, Support and Maintenance, Cloud)
- 2023 ITSM Applications Market By Customer Size (revenue, employee count, asset)
- 2023 ITSM Applications Market By Channel (Direct vs Direct)
- 2023 ITSM Applications Market By ProductBuyer Intent: Companies Reading this Research ReportARTW Buyer Intent uncovers actionable customer signals, identifying software buyers actively reading this research report. Gain ongoing access to real-time prospects and uncover hidden opportunities. Companies Actively accessing this research report include:
- IQVIA, a United States based Professional Services organization with 89000 Employees
- Quantum Marketing Group, a United Kingdom based Professional Services company with 100 Employees
- Oracle, a United States based Professional Services organization with 160000 Employees
Logo Company Industry Employees Revenue Country Evaluated Worldwide Enterprise Application Market
Exhibit 3 provides a forecast of the worldwide enterprise application market from 2023 to 2028, highlighting market sizes, year-over-year growth, and compound annual growth rates across various functional segments. The data shows strong growth in emerging areas like eCommerce, Human Capital Management, and IT Service Management, while traditional segments like ERP and CRM continue to dominate in market size.
Exhibit 3: Worldwide Enterprise Application Market Forecast 2023-2028 by Functional Market ($M)
Source: Apps Run The World, June 2024
Exhibit 4 shows the enterprise applications market by functional area. The highest growth functional markets revolve around smaller segments like eCommerce, Enterprise Performance Management, Sales Performance Management and Treasury and Risk, where first movers remain less established than those that for decades have been entrenched in functional areas like ERP, CRM and PLM.
IT Service Management Win/Loss Analysis As Part Of Enterprise Applications Buyer Insight Customer Database
On the buyer side, customers are investing in IT Service Management systems based on new features and capabilities that are expected to replace their existing legacy systems. In many cases, competitive upgrades and replacements that could have a profound impact on future market-share changes will become more widespread.
Since 2010, our global team of researchers have been studying the patterns of the latest ITSM software purchases by customers around the world, aggregating massive amounts of data points that form the basis of our forecast assumptions and perhaps the rise and fall of certain vendors and their products on a quarterly basis.
Updated continuously, our database features win/loss extensive analysis. Each year our research team identifies tens of thousands of these customer wins and losses from public and proprietary sources.
The research results are being incorporated into regular updates in our Enterprise Applications Buyer Insight Customer Database. You can access the Quarterly Win/Loss Analysis Scoreboard and our Enterprise Applications Buyer Insight Customer Database by becoming a subscriber.
Source: Apps Run The World, June 2024
More Enterprise Applications Research Findings
Based on the latest annual survey of 3,000+ enterprise software vendors, Apps Run The World is releasing a number of dedicated reports, which profile the world’s 500 largest Enterprise Applications Vendors (Apps Top 500) ranked by their 2019-2023 product revenues.
Their 2023 results are being broken down, sorted and ranked across 16 functional areas (from Analytics to Treasury and Risk Management) and by 21 vertical industries (from Aerospace to Utility), as shown in our Taxonomy. Further breakdowns by subvertical, country, company size, etc. are available as custom data cuts per special request.
Research Methodology
Each year our global team of researchers conduct an annual survey of thousands of enterprise software vendors by contacting them directly on their latest quarterly and annual revenues by country, functional area, and vertical market.
We supplement their written responses with our own primary research to determine quarterly and yearly growth rates, In addition to customer wins to ascertain whether these are net new purchases or expansions of existing implementations.
Another dimension of our proactive research process is through continuous improvement of our customer database, which stores more than one million records on the enterprise software landscape of over 100,000 organizations around the world.
The database provides customer insight and contextual information on what types of enterprise software systems and other relevant technologies are they running and their propensity to invest further with their current or new suppliers as part of their overall IT transformation projects to stay competitive, fend off threats from disruptive forces, or comply with internal mandates to improve overall enterprise efficiency.
The result is a combination of supply-side data and demand-generation customer insight that allows our clients to better position themselves in anticipation of the next wave that will reshape the enterprise software marketplace for years to come.
