Change Management Software Market By Offerings (Standalone Software, SaaS), By Deployment Model (On-premise, Cloud-based), By Platform (Web, Mobile), By Organization Size (Small And Medium Enterprises, Large Enterprises), By End-use Vertical (Automotive, BFSI, Consumer Goods, Education, Food & Beverages, Government, Healthcare, IT & Telecom, Manufacturing, Retail, Others) - Growth, Share, Opportunities & Competitive Analysis, 2018 – 2026

Overview:

The global change management software market expected to witness a noteworthy growth, expanding at a CAGR of 12.8% during the forecast period from 2018 to 2026. The growth of this market is mainly credited to the increase in digital transformation and automation of IT applications and processes. Change management is an ITSM (information technology service management) discipline. Its objective is to keep a track and check whether standardized procedures and methods are adopted for prompt handling of changes. The rate of change has been accelerating incessantly. As a result, in order to stay competitive, every business organization must be able and nimble to respond rapidly to the new market needs. Change management software benefits an organization in large number of ways and is relevant when there is any kind of change with respect to cost and timeline of the project.

Change can be difficult, but investing some thoughts, time and money into change management helps an organization ensure effective implementation of a new enterprise software system. Benefits associated with change management software serve as motivators and assessment of progress. The main purpose of change management software is to implement the approved changes into the project with minimal amount of disruption. Change management software provides plans, procedures, and other related artifacts necessary for establishing an effective change management program to complete the documentation set to support it. The software helps in improving performance, minimize resistance, reduce costs, enhance innovation, improve work productivity and simplify complete IT change management process.

The goal of change management software is to ensure that changes to the IT services are arranged in a way that minimizes impact to the business. The addition of new technologies and devices to address the growing business needs has significantly increased and is contributing to the growing network size. Furthermore, cost reduction due to automation in the process projected to augment the growth of change management software market in the near future.

Market Snapshot

Change Management Software Market

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"Standalone Software held Largest Market Share in 2017"

In terms of offerings, the global change management software market is segmented into standalone software and SaaS. The standalone software segment accounted for the largest market share in 2017. Owing to security, control and integration considerations, many business organizations still opt for the standalone software implementation, with the application residing on their in-house server and being managed by company’s IT department. Nevertheless, a recent movement towards SaaS is indicative of a trend across several industry verticals and business applications. SaaS allows organizations to enjoy the benefits while minimizing the implementation, maintenance and infrastructure costs as well as the IT staffing requirements. As a result, the SaaS expected to emerge as the fastest growing segment in the years to come.

Change Management Software Market

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"Cloud-based Likely to Expand during the Forecast Period from 2018 to 2026"

The global change management software market, based on deployment model was led by on-premise segment in 2017. The superior security features offered by on-premise solutions over cloud is supporting the growth of this segment. Although there is a paradigm shift from on-premise to cloud, several organizations across the globe are still largely dependent on the on-premise model.  As a result, cloud-based model likely to expand and witness widespread adoption in the coming years. Adoption rate of cloud is rapidly ticking upwards and businesses are taking advantage of its benefits including agility, efficiency and flexibility. Several organizations are focusing on minimizing their infrastructure costs and implementation of timeframes, which in turn is boosting the growth of cloud-based model.

Change Management Software Market

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"IT & Telecom Garnered Largest Market Share in 2017"

The change management software is adopted by several end-use verticals to manage, track and enhance the overall productivity. In 2017, based on end-use vertical, the global change management software market was led by IT & telecom vertical. Change is inevitable in the IT & telecom organizations as technological advancements and fierce competitions are constantly enforcing these organizations to change at a rapid pace. Rising trend towards digital transformation coupled with increasing investments in digitization by the IT & telecom sector is facilitating the growth of change management software market worldwide.

Change Management Software Market 

"North America Leads the Change Management Software Market Globally"

Change management software technology gaining massive preference worldwide. Based on geography, North America dominated the market in 2017 and expected to demonstrate significant growth in the coming years. The presence of prominent players such as BMC Software, Inc., International Business Machines Corp., Ivanti, Microsoft Corporation, Oracle Corporation, etc. supports the market's growth and expected to provide lucrative opportunities in the coming years. In 2017, U.S. dominated the North America change management software market and likely to continue its supremacy throughout the forecast period from 2018 to 2026.

Change Management Software Market

Competitive Insights

Major players in the change management software market include Axios Systems, BMC Software, Inc., CA Technologies, Cherwell Software, LLC, EasyVista Inc., Freshworks Inc., Gensuite, International Business Machines Corp., Ivanti, Micro Focus International Plc, Microsoft Corporation, Oracle Corporation, Rocket Software, Inc., ServiceNow, Inc., Serviceaide, Inc., SunView Software, Inc., and VMware, Inc. among others

The change management software market appears to be highly fragmented and competitive in nature owing to the presence of regional as well as international players. Prominent players present in the market are increasingly focusing on gaining deep penetration, strong momentum, and high visibility in the market. For strengthening their position in the market, these players are incorporating several strategies including mergers & acquisitions, new product development, etc.

For instance, in August 2018, Cherwell Software, LLC entered into a strategic collaboration with FixStream Network Inc., one of the pioneer company in Artificial Intelligence solutions for IT operations (AIOps). The collaboration is aimed to accelerate digital transformation. Both the organizations will be integrating their expertise and technologies for providing customers with next-generation solutions leveraging machine learning with workflow automation to help more accurately and quickly predict, find and resolve information technology service management (ITSM) issues.  

Change Management Software Market

Historical & Forecast Period

The research report presents the analysis of each segment from 2016 to 2026 considering 2017 as the base year for the research. Compounded Annual Growth Rate (CAGR) for each respective segments calculated for the forecast period from 2018 to 2026.

Report Scope by Segments

Change management software market report provides market size and estimates based on market dynamics and key trends observed in the industry. The report provides a holistic view of global change management software market based on offerings, deployment model, platform, organization size, end-use vertical and geography. Key segments covered in the report are as follows:

ATTRIBUTE DETAILS
Research Period  2016-2026
Base Year 2017
Forecast Period  2018-2026
Historical Year  2016
Unit  USD Million
Segmentation

 Offerings Segment (2016-2026; US$ Mn)
 • Standalone Software
 • SaaS

 Deployment Model (2016-2026; US$ Mn)
 • On-premise
 • Cloud-based

 Platform Segment (2016-2026; US$ Mn)
 • Web
 • Mobile

 Organization Size Segment (2016-2026; US$ Mn)
 • Small and Medium Enterprises (SMEs)
 • Large Enterprises

 End-use Vertical Segment (2016 – 2026; US$ Mn)
 • Automotive
 • BFSI
 • Consumer Goods
 • Education
 • Food & Beverages
 • Government
 • Healthcare
 • IT & Telecom
 • Manufacturing
 • Retail
 • Others (Energy & Utilities, Transportation, etc.)

 Geography Segment (2016–2026; US$ Mn)
 • North America (U.S. and Rest of North America)
 • Europe (U.K., Germany, France, and Rest of Europe)
 • Asia Pacific (Japan, China, India, and Rest of Asia Pacific)
 • Rest of World (Middle East & Africa (MEA), Latin America)

Key questions answered in this report

  • What was the market size of change management software in 2017 and forecast up to 2026?
  • What are the factors driving the change management software market?
  • What are the key market trends in the change management software market?
  • Which is the most promising end-use vertical in the change management software market?
  • Which is the largest regional market for change management software market?
  • Which players are leading the change management software market?
  • What are the sustainability strategies adopted by the key players operating in the market?

Unique data points of this report

  • Current and future scenario of change management software across the globe
  • Adoption rate of change management software across various end-use verticals
  • Comparative scenario for all segments for the years 2017 (actual) and 2026 (forecast)
  • Qualitative and quantitative insights across different geographies and sub-geographies
  • Comprehensive mapping of the competitive landscape and the market participants’ behavior
  • Must-have information for market players to enhance and sustain their market footprint
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Published Date:  Oct 2018
Category:  Technology & Media
Report ID:   59380
Report Format:   PDF
Pages:   120
Rating:    4.1 (49)
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