Market Snapshot:
Problem management identifies and manages the causes of incidents in an IT service. It is a core component of ITSM frameworks. Problem management is not just about finding and resolving incidents, it is also about identifying and understanding the underlying causes of an incident and determining the best method to address that root cause. In addition, determining the cause is of no value to an organization if it is a shutdown process performed by an isolated team. Therefore, problem management should be consistent and widespread across multiple teams, including IT, security, and software developers. An incident can end as soon as the service is operational again. However, until the underlying causes and factors are fixed, the problem remains. The problem management software, which is an application management function helps in integrating people, processes, as well as technology, thereby enabling systematic tracking and problem management. This integration solution with its knowledge base identifies the problem and ensures that the root cause of each customer's requirements is quickly resolved.
Attributes | Details |
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Study Period | 2017-2027 |
Base Year | 2021 |
Unit | Value (USD Million) |
Key Companies Profiled | Atlassian (Australia), Axios (United Kingdom), BMC Software Inc. (United States), Cherwell Software (United States), Freshworks Inc. (United States), IBM Corporation (United States), Ivanti (United States), ServiceNow (United States), Soft Expert (United States) and SolarWinds (United States) |
Segment Analysis
AMA Research have segmented the market of Global Problem Management Software market by Type, Application and Region.
On the basis of geography, the market of Problem Management Software has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
region held largest market share in the year 2021.
Market Trend
Increasing Consumption of Problem Management Software for Personal and Enterprise Application and Increased Adoption of Cloud-Based Solutions
Market Drivers
Increasing Digitalization in Various Industry and Enterprises, Demand for Automation in the Problem Management Process and Increasing Demand from Small and Medium-Sized Enterprises
Opportunities
Growing Number of Online Data and Usage of Online Platform will boost the Problem Management Software Market
Restraints
- Risk of Increasing Online Threat
In addition to the aforementioned factor, Increasing Digitalization in Various Industry and Enterprises
is expected to propel the growth of the market over the forecast period.
Competitive Landscape
The companies are now exploring the market by adopting mergers & acquisitions, expansions, investments, new developments in existing products, and collaborations as their preferred strategies. The players are also exploring new geographies and industries through expansions and acquisitions so as to avail a competitive advantage through combined synergies.
The key Players profiled in the study are Atlassian (Australia), Axios (United Kingdom), BMC Software Inc. (United States), Cherwell Software (United States), Freshworks Inc. (United States), IBM Corporation (United States), Ivanti (United States), ServiceNow (United States), Soft Expert (United States) and SolarWinds (United States). A lot of United States players are profiled in the research study indicating a strong market dependence.