This IDC study is the first sizing and forecast for this newly defined market, which incorporates software and SaaS solutions previously reported in problem management software (for details, see the Market Definition section and refer to IDC's Worldwide Software Taxonomy, 2017, IDC #US42961816, August 2017).
"The worldwide IT service management software market achieved a level of $4.69 billion in 2017, according to IDC estimates. The market as a whole is forecast to grow at a compound annual growth rate of 8.1% during the 2017–2022 period with the public cloud–based segment growing at a higher double-digit rate. The market is being driven by the need to optimize and synchronize systems, infrastructure, applications, and end-user experience across increasingly complex on-premise, hybrid, public cloud, and multicloud deployments as organizations undergo digital transformation initiatives." — Shannon Kalvar, research manager, IT Service Management