What segments are covered in this report?

The North America IT Operations and Service Management Market report typically cover these key segments- Type (Solution, Services) Application (Operation, Performance Management, Dashboard Reporting, Analytics, Configuration Automation, Discovery, Others) Enterprise Size (Large Enterprises, SMEs)

What is the historic period, base year, and forecast period taken for North America IT Operations and Service Management Market?

The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the North America IT Operations and Service Management Market report: 2021-2023 2023 2025-2031

Who should buy this report?

The North America IT Operations and Service Management Market report is valuable for diverse stakeholders, including: Investors: Provides insights for investment decisions pertaining to market growth, companies, or industry insights. Helps assess market attractiveness and potential returns. Industry Players: Offers competitive intelligence, market sizing, and trend analysis to inform strategic planning, product development, and sales strategies. Suppliers and Manufacturers: Helps understand market demand for components, materials, and services related to concerned industry. Researchers and Consultants: Provides data and analysis for academic research, consulting projects, and market studies. Financial Institutions: Helps assess risks and opportunities associated with financing or investing in the concerned market. Essentially, anyone involved in or considering involvement in the North America IT Operations and Service Management Market value chain can benefit from the information contained in a comprehensive market report.

North America IT Operations and Service Management Market to 2031 - By Size, Share, Growth by End User and Forecast

The North America IT operations and service management market was valued at US$ 10,285.30 million in 2023 and is expected to reach US$ 27,009.97 million by 2031; it is estimated to register a CAGR of 12.8% from 2023 to 2031.

Growing Adoption of Remote Work Culture Fuels North America IT Operations and Service Management Market

Remote work has become the new normal for many organizations in recent years, especially after the COVID-19 pandemic, to maintain flexibility in working conditions. Various teams and departments in an organization successfully manage to work together in remote and hybrid workspaces. According to Gallup, Inc. report of June 2022, ~65% of full-time employees are ready to work remotely. Working in a remote environment helps employees reduce traveling time as well as maintain a work-life balance. A study conducted by the National Bureau of Economic Research in January 2023 showed that remote work saved an average of 72 minutes spent by employees on their daily travel to and from their on-site jobs during 2021-2022. As organizations adapt to remote work culture, they need robust IT infrastructure, enhanced cloud services, and strict cybersecurity measures. This shift necessitates more advanced remote IT support, automated IT operations and service management (ITOSM) tools, and enhanced monitoring systems to maintain smooth operations across distributed teams. ITOSM provides employees the capabilities to enhance service requests and manual business operations 24/7 while streamlining regular and often mundane tasks for all organizational departments. Furthermore, ITSM, when implemented across multiple business domains, can enhance interdepartmental cooperation and can integrate internal services such as payroll, HR, and finance into a single platform. Thus, many businesses have shifted to WFH (Work from Home) and WFA (Work from Anywhere) workforce models, boosting the demand for customer-grade IT service management, which drives the IT operations and service management (ITOSM) market.

North America IT Operations and Service Management Market Overview

The North America IT operations and service management (ITOSM) market is segmented into the US, Canada, and Mexico. In terms of revenue, North America dominated the IT operations and service management (ITOSM) market share in 2023. North America is one of the fastest-growing regions in terms of technological innovations and adoption of advanced technologies, and the region has a good IT infrastructure. Per the International Trade Administration, the US is the world's largest information technology (IT) market, accounting for one-third of the US$ 5 trillion global market. The region has witnessed massive adoption of technologies such as machine learning (ML), artificial intelligence (AI), and blockchain in the past three years i.e. 2021, 2022, and 2023 across all the major industry verticals. With the rising penetration of digitization in various industries, IT operations and service management have become a vital component of businesses. The region is home to a majority of key market players such as IBM Corporation; Oracle; BMC Software, Inc.; ServiceNow Inc; and Broadcom. In addition, according to CompTIA, there are over 557,000 software and IT service companies in the US.

As per the International Trade Administration, the ICT industry in Canada comprises more than 43,200 businesses. Of these, many companies operate in the computer services and software sectors. Having such a big IT industry in the region is fueling the need for IT operations and service management, as these services help large enterprises and SMEs in cost-saving, improving scalability, and increasing efficiency.

The IT operations and service management (ITOSM) market players are expanding their businesses in North America, contributing to the regional market growth. For instance, in August 2022, Focus Softnet opened its twenty-fourth global office in Toronto, which is also its first office in North America. This new office will help the company scale up its operations in North America and strengthen ties with local customers by offering them high-quality technical support and consulting services. In addition, NCR Atleos Corporation-a leader in expanding self-service financial access for financial institutions, retailers, and consumers-announced that Black Hills Federal Credit Union (BHFCU), a US$ 2.3 billion asset, has deepened its partnership with Atleos, selecting ATM as a Service (ATMaaS) and ITM as a Service (ITMaaS) to transform self-service banking.

North America IT Operations and Service Management Market Revenue and Forecast to 2031 (US$ Million)

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North America IT Operations and Service Management Strategic Insights

Strategic insights for the North America IT Operations and Service Management provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.

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North America IT Operations and Service Management Report Scope

Report Attribute	Details
Market size in 2023	US$ 10,285.30 Million
Market Size by 2031	US$ 27,009.97 Million
Global CAGR (2023 - 2031)	12.8%
Historical Data	2021-2023
Forecast period	2025-2031
Segments Covered	By Type Solution Services By Application Operation Performance Management Dashboard Reporting Analytics Configuration Automation Discovery Others By Deployment Cloud On Premises By Enterprise Size Large Enterprises SMEs
Regions and Countries Covered	North America US Canada Mexico
Market leaders and key company profiles	Fujitsu Ltd Oracle Corp BMC Software, Inc. Happiest Minds ServiceNow Inc NTT Data Corp PROV INTERNATIONAL INC. International Business Machines Corp Ivanti Lumen Technologies Inc

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North America IT Operations and Service Management Regional Insights

The geographic scope of the North America IT Operations and Service Management refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.

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North America IT Operations and Service Management Market Segmentation

The North America IT operations and service management market is categorized into type, application, deployment, enterprise size, industry, and country.

Based on type, the North America IT operations and service management market is bifurcated into solution and services. The solution segment held a larger North America IT operations and service management market share in 2023.

In terms of application, the North America IT operations and service management market is segmented into operation and performance management, dashboard reporting and analytics, configuration automation and discovery and others. The operation and performance management segment held the largest North America IT operations and service management market share in 2023.

By deployment, the North America IT operations and service management market is divided into cloud and on premises. The cloud segment held a larger North America IT operations and service management market share in 2023.

Based on enterprise size, the North America IT operations and service management market is bifurcated into large enterprises and SMEs. The large enterprises segment held a larger North America IT operations and service management market share in 2023.

By industry, the North America IT operations and service management market is segmented into IT & telecom, BFSI, healthcare, manufacturing, government and others. The IT and telecom segment held the largest North America IT operations and service management market share in 2023.

By country, the North America IT operations and service management market is segmented into the US, Canada, and Mexico. The US dominated the North America IT operations and service management market share in 2023.

Fujitsu Ltd; Oracle Corp; BMC Software, Inc.; Happiest Minds; ServiceNow Inc; NTT Data Corp; PROV INTERNATIONAL INC.; International Business Machines Corp; Ivanti; Lumen Technologies Inc; Broadcom Inc; DELL, INC; Juniper Networks Inc; Zoho Corp Pvt Ltd; Lenovo Group Ltd; Rackspace Technology Inc; Telefonaktiebolaget LM Ericsson; and Open Text Corp. are some of the leading companies operating in the North America IT operations and service management market.

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