Chicago, June 10, 2024 (GLOBE NEWSWIRE) -- The global Cloud ITSM Market size is expected to grow from USD 9.5 billion in 2024 to USD 17.8 billion by 2029 at a Compound Annual Growth Rate (CAGR) of 13.5% during the forecast period, according to a new report by MarketsandMarkets™. Browse in-depth TOC on "Cloud ITSM Market" 288 - Tables 63 - Figures 326 – Pages Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=261087410 As the Internet of Things (IoT), 5G, and AI gain wider acceptance, numerous sectors are embracing this technology to harness real-time data for improved decision-making. While the influence of IoT and AI is widely acknowledged in fields like retail and healthcare, it is now significantly transforming industries requiring innovation, including manufacturing, transportation & logistics, energy & utilities, food and beverage, and waste management. In conjunction with IoT, Cloud ITSM offers organizations a resilient framework for instantaneously analyzing crucial data, ushering in a new era of efficiency and agility. Cloud ITSM Market Dynamics : Drivers : Scalability of IT services based on demand, ensuring resources are efficiently allocated Reduced need for on-premise infrastructure leading to lower capital and operational costs Opportunities: Potential to further integrate their solutions with other cloud-based services Leveraging AI and automation technologies to open avenues for innovation and growth Rapid adoption across sectors by delivering industry-specific tailored solutions based on demand Restraints : Regulatory standards and industry-specific rules in sectors needing strict data protection List of Top Companies in Cloud ITSM Market : ServiceNow (US) BMC  Software (US) Broadcom (US) ManageEngine (US) Ivanti (US) Zendesk (US) Freshworks (US) Solarwinds (US) Atlassian (Australia) OpenText (US) Get Sample Report @ https://www.marketsandmarkets.com/requestsampleNew.asp?id=261087410 The surge in adoption and practice of IoT, 5G across industries irrespective of enterprise sizes, strict compliance and adherence to government regulatory requirements, and integration of AI/ML that significantly leverage(s) global Cloud ITSM market are some of the key driving factors that foster Cloud ITSM market growth. Based on Offering, the Solutions segment will have the largest Market share during the forecast period. Cloud ITSM solutions ...