The rapid deployment of ServiceNow technology services serving several end-use industries is according to FMI’s research. IT Asset Management Services Expected to Witness Rapid Growth in ServiceNow Technical Services Market
NEWARK, Del., Dec. 7, 2022 (GLOBE NEWSWIRE) — The ServiceNow technology services market was valued at US$24.8 billion in 2023 and is expected to grow to US$123.2 billion by 2033. , is expected to grow significantly at a CAGR. 17.4% during the forecast period.
Rising demand for ServiceNow technical services from the healthcare sector to address rising concerns related to rising levels of security breaches is projected to boost the market growth during the forecast period. Market leaders provide solutions that help healthcare organizations better comply with patient standards and regulations.
Moreover, increasing adoption of these services by telecommunications and media companies to adapt to the ever-changing market, measure performance, and further optimize metrics is also contributing to the growth of the market.
Moreover, the market is expected to be driven by increasing adoption of infrastructure-less solutions by business service providers to efficiently manage various areas within their business. Powerful cloud-based computing and storage allows enterprise employees to easily access the ServiceNow platform via their mobile devices or other connected systems. ServiceNow technical services also provide on-the-go capabilities for bill approvals, 24/7 system maintenance, and service request initiation.
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ServiceNow’s technical services market is projected to grow further due to increased investment in these services. These services provide quick access to performance metrics for a single department or the entire enterprise, sparking financial insight into performance and resource allocation. Additionally, rapid digitization is creating more opportunities for market growth as customers of ServiceNow technology services innovate at scale, explore new ideas, and realize value faster.
The ServiceNow technical services market in East Asia is expected to grow significantly, at a CAGR of 8% between 2023 and 2033. This market is expected to be positively impacted by increased investment by end-use companies in digitizing their businesses. Key industry players residing in the region emphasize forming strategic partnerships to generate revenue.
Based on services, IT services captured the largest market share, accounting for about 1% in 2021. This market valuation can be attributed to the growing demand for automation of internal processes across all departments to help teams complete tasks and further innovate.
By company size, small offices (1-9 employees) are expected to grow rapidly during the forecast period, expanding at a CAGR of 9%. The growing adoption of ServiceNow technical services by small offices is fueled by a growing number of key players creating his ServiceNow technical services unique to his SMEs at effective pricing.
By industry, the services segment will hold the largest market share in 2021, accounting for 27.9% of the total market. Market growth is fueled by increasing adoption of ServiceNow technology services that increase employee productivity, minimize compliance risks, increase business profitability, and rapidly expand customer base. I’m here.
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The ServiceNow Tech Services market size is expected to observe robust growth over the forecast period owing to abundant emerging opportunities, acquisition completions, partnership formations, and technological advancements. Below are companies offering ServiceNow Tech Services in markets identified by FMI.
Broadcom Inc. (CA Technologies, Inc.)
Epicor Software Co., Ltd.
Hewlett Packard Enterprise
Com Co., Ltd.
Service Now Technology Services Market by Category
by service, Service Now The technical services market is segmented as follows:
Portfolio management service
IT Asset Management Service
Enterprise Asset Management Service
Governance, Risk & Compliance Services
Operational technology management service
by company size, Service Now The technical services market is segmented as follows:
Small office (1-9 employees)
Small business (10-99 employees)
Medium-sized businesses (100-499 employees)
Large companies (500-999 employees)
Very large companies (1,000+ employees)
By Industry, Service Now The technical services market is segmented as follows:
by region, Service Now The technical services market is segmented as follows:
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table of contents
1.1.Global market outlook
1.2. Demand Side Trends
1.4.technology roadmap analysis
1.5.Analysis and recommendations
2. Market Overview
2.1. Market Scope/Taxonomy
2.2. MARKET DEFINITION/SCOPE/LIMITATIONS
3. Market Background
3.1. Market dynamics
3.2. Scenario prediction
3.3. Opportunity Map Analysis
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