TECH SUPPLIER Jun 2020 - Market Forecast - Doc # US46424220
Worldwide System and Service Management Software Forecast Update, 2020–2024: COVID-19 Extends Market Impact
By: Tim GrieserResearch Vice President, Enterprise System Management Software, Stephen ElliotProgram Vice President, Management Software and DevOps, Mary Johnston TurnerResearch Vice President, Cloud Management, Shannon KalvarResearch Manager , IT Service Management and Client Virtualization
This IDC study provides a updated 2020–2024 forecast for the worldwide system and service management software market.
According to Tim Grieser, research vice president, Enterprise System Management Software, "The worldwide system and service management software market achieved a level of $25.2 billion in 2019, according to IDC estimates. Owing to the impact of the worldwide coronavirus pandemic, market growth in 2020 is now being forecast as essentially flat based on a probable case scenario. IDC expects positive growth will resume in 2021 at a rate of 4.2%, and the market will achieve a five-year CAGR of 6.2%."
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