Change Management Software Market size was over USD 2.15 billion in 2023 and is projected to exceed USD 6.44 billion by 2036, witnessing over 8.8% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of change management software is assessed at USD 2.3 billion. The growth of the market can be attributed to the growing digitalization of the IT sector, along with automation of management services. Additional factors, such as, work from home situation, and need for remote management are estimated to raise the demand for change management software. The dependency on automated digital medium, and AI is raising amongst every sector, such as, finance, IT, healthcare, education, and others, for various applications. Growing penetration of AI in IT and Telecom sector is forecasted to positively influence the market growth. According to a report by the World Economic Forum, AI is expected to result in a surge of an estimated USD 15.7 trillion, or 26% increase, in the global GDP, by 2030. Management software provide higher accuracy, reduce system downtime, and improve efficiency, which is another major driver estimated to fuel the market growth. The growing adoption of management software, such as, enterprise resource management, among others, is further anticipated to boost the market growth.
Growth Drivers
Challenges
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Base Year |
2023 |
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Forecast Year |
2024-2036 |
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CAGR |
8.8% |
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Base Year Market Size (2023) |
USD 2.15 billion |
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Forecast Year Market Size (2036) |
USD 6.44 billion |
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Regional Scope |
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The market is bifurcated on the basis of deployment type into cloud-based and on-premise. Among these, the on-premise segment is anticipated to hold the notable share in the global change management software market over the forecast period on account of high adoption amongst organizations that are managed by their internal IT staff. Moreover, it provides a cheaper and more efficient service, which is estimated to boost the segment growth. On the basis of organization size, the market is segmented into SMEs, and large enterprises, out of which, the large enterprises segment is projected to hold a higher share in the market owing to the global functionality and large scalability of these enterprises. Moreover, these enterprises can afford management software, owing to the higher investment capacity, which is further foreseen to boost the segment growth.
Our in-depth analysis of the global change management software market includes the following segments:
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By Component |
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By Deployment |
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By Organization Size |
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By End-User
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On the basis of geographical analysis, the global change management software market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Asia Pacific industry is set to dominate majority revenue share by 2036, ascribed to growing implementation of automation, AI, cloud technology, and other advanced technologies in the IT sector in the region. Moreover, economic development in the countries, such as, India and China, is estimated to strengthen the market growth in the region.
The market in the North America region is anticipated to gain the largest market share throughout the forecast period owing to the high adoption of advanced technology, growth in the IT sector, and growing digitalization in the developed countries, such as, the U.S., and Canada.
September, 2021: SysAid Technologies Ltd. announced the addition of new features to meet customer goals, such as, service automation, easy communication, and collaboration. SysAid integrated with Microsoft Teams to provide efficient work environment.
October, 2021: ServiceNow to form strategic partnership with Celonis to maximize digital transformation investments.
Author Credits: Abhishek Verma
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