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The ServiceNow Business Market size was estimated at USD 32.36 billion in 2023, USD 36.85 billion in 2024, and is expected to grow at a CAGR of 14.20% to reach USD 82.01 billion by 2030. Speak directly to the analyst to clarify any post sales queries you may have.
ServiceNow businesses offer a comprehensive suite of solutions to enhance customer experience, improve process efficiency, and drive operational performance. It enables organizations to effectively manage their daily operations and customer interactions using automation, security, and scalability. The cloud-based applications included in ServiceNow Services cover service management, workflow automation, asset tracking, data visualization, and system integrations. The need for ServiceNow platforms is increasing as organizations recognize the value of digital transformation across various business functions.
By leveraging ServiceNow services, organizations streamline their processes, gain valuable insights, achieve a unified platform for efficient operations, and empower organizations to deliver exceptional service and optimize their overall performance. However, organizations face challenges due to complex customization requirements or a lack of internal expertise when implementing ServiceNow. In addition, end-users also pose issues related to data security and compliance. Organizations are emphasizing enhancing customer services and experiences, driving the adoption of ServiceNow to improve customer satisfaction and loyalty. Additionally, ServiceNow platforms are backed by robust integration capabilities, allowing seamless connectivity with other systems and applications. Organizations are increasingly investing in ServiceNow platform innovation to stay ahead of evolving business needs, leveraging advancements in user experience, automation, AI integration, and data analytics.
Regional Insights
ServiceNow business has observed a large customer base across the Americas, driven by the exponential technological advancements in the IT, finance, healthcare, and government sectors. The market has witnessed several collaborations with a vast network of partners, including U.S. and Canadian consulting firms, system integrators, and managed service providers. The Asia-Pacific also has the presence of a rising number of partners who are serving ServiceNow solutions for enterprises meeting digital transformation initiatives. The business has made significant investments in expanding operations, sales, and partnerships across India, China, Japan, South Korea, Thailand, and Australia for catering to small and medium enterprises.Many well-known organizations have formed alliances with ServiceNow solutions, providing industry-specific solutions and frameworks addressing the requirements of different sectors. The European region has raised strict guidelines regarding the security of the users of ServiceNow, which has encouraged the introduction of compliant solutions. The business has been working towards considering legal, technical, and organizational safeguards to offer customers products that meet their compliance obligations.
Market Trends by Segment
- Services: Increasing demand for ServiceNow business for IT service management
- End-User: Expanding the application of ServiceNow business in financial services
Industry Insights
- Market Dynamics
- Market Disruption Analysis
- Porter’s Five Forces Analysis
- Value Chain & Critical Path Analysis
- Pricing Analysis
- Technology Analysis
- Patent Analysis
- Trade Analysis
- Regulatory Framework Analysis
- FPNV Positioning Matrix
- Market Share Analysis
- Strategy Analysis and Recommendations
Recent Developments
Globant Launches ServiceNow Studio to Help Companies Deliver Digital Experiences of the Future for Employees, Customers, and Partners
Globant, a technology solutions provider focused on assisting customers in reinventing their businesses, unveiled the ServiceNow Studio. This studio aims to empower clients to fully leverage the capabilities of the ServiceNow platform, enabling them to enhance efficiency, agility, and innovation across various domains, including IT, HR, customer experience, and creativity.ServiceNow, NVIDIA, and Accenture Team to Accelerate Generative AI Adoption for Enterprises
ServiceNow, NVIDIA, and Accenture partnered to launch AI Lighthouse, an innovative program aimed at accelerating the development and utilization of generative AI for enterprises. This program leverages the strategic collaborations between these three entities to provide assistance to customers across various industries in designing, developing, and implementing custom generative AI large language models (LLMs) and applications. By combining ServiceNow's enterprise automation platform and engine, NVIDIA's AI supercomputing and software capabilities, and Accenture's AI transformation services, a comprehensive offering is created for customers.ServiceNow unveils transformative innovations at Knowledge 2023
ServiceNow introduced new innovations to its Now Platform. These innovations aim to assist businesses in streamlining their processes effectively. Notable enhancements include the introduction of new Finance and Supply Chain Workflows, AI solutions that build upon existing AI functionality, and an AI-powered employee skills development solution. The primary goals of these innovations are to enhance cost efficiency, increase productivity, advance talent development, and expand the platform's reach across various personas and industries.Key Company Profiles
The report delves into recent significant developments in the ServiceNow Business Market, highlighting leading vendors and their innovative profiles. These include Accenture PLC, Atos SE, Birlasoft, Capgemini SE, Cask LLC, CDW LLC., CGI Group Inc, Cognizant Technology Solutions Corporation, Deloitte Touche Tohmatsu Limited, DXC Technology Company, Ernst & Young Global Limited, Fujitsu Limited, GlideFast Consulting LLC, HCL Technologies Ltd, Hexaware Technologies Limited., Hitachi, Ltd., Infosys Limited, International Business Machines Corporation, KPMG International Limited, LTIMindtree Limited, Nagarro Software Pvt. Ltd., NTT DATA Corporation, ServiceNow, Inc., T-Systems International GmbH, Tech Mahindra Limited., TEKsystems Global Services, LLC, Unisys Corporation, Virtusa Corporation, Wipro Limited, and World Wide Technology.This research report offers invaluable insights into various crucial aspects of the ServiceNow Business Market:
- Market Penetration: This section thoroughly overviews the current market landscape, incorporating detailed data from key industry players.
- Market Development: The report examines potential growth prospects in emerging markets and assesses expansion opportunities in mature segments.
- Market Diversification: This includes detailed information on recent product launches, untapped geographic regions, recent industry developments, and strategic investments.
- Competitive Assessment & Intelligence: An in-depth analysis of the competitive landscape is conducted, covering market share, strategic approaches, product range, certifications, regulatory approvals, patent analysis, technology developments, and advancements in the manufacturing capabilities of leading market players.
- Product Development & Innovation: This section offers insights into upcoming technologies, research and development efforts, and notable advancements in product innovation.
Additionally, the report addresses key questions to assist stakeholders in making informed decisions:
- What is the current market size and projected growth?
- Which products, segments, applications, and regions offer promising investment opportunities?
- What are the prevailing technology trends and regulatory frameworks?
- What is the market share and positioning of the leading vendors?
- What revenue sources and strategic opportunities do vendors in the market consider when deciding to enter or exit?
Please note: For this report, the purchase of an Enterprise license allows up to ten worldwide users of an organization access to the report
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This report also includes a complimentary Excel file with data from the report for purchasers at the Site License or greater level.
Table of Contents
1. Preface
2. Research Methodology
5. Market Insights
6. ServiceNow Business Market, by Services
7. ServiceNow Business Market, by End-User
8. Americas ServiceNow Business Market
9. Asia-Pacific ServiceNow Business Market
10. Europe, Middle East & Africa ServiceNow Business Market
11. Competitive Landscape
12. Competitive Portfolio
List of Figures
List of Tables
Companies Mentioned
- Accenture PLC
- Atos SE
- Birlasoft
- Capgemini SE
- Cask LLC
- CDW LLC.
- CGI Group Inc
- Cognizant Technology Solutions Corporation
- Deloitte Touche Tohmatsu Limited
- DXC Technology Company
- Ernst & Young Global Limited
- Fujitsu Limited
- GlideFast Consulting LLC
- HCL Technologies Ltd
- Hexaware Technologies Limited.
- Hitachi, Ltd.
- Infosys Limited
- International Business Machines Corporation
- KPMG International Limited
- LTIMindtree Limited
- Nagarro Software Pvt. Ltd.
- NTT DATA Corporation
- ServiceNow, Inc.
- T-Systems International GmbH
- Tech Mahindra Limited.
- TEKsystems Global Services, LLC
- Unisys Corporation
- Virtusa Corporation
- Wipro Limited
- World Wide Technology
Methodology
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 186 |
| Published | May 2024 |
| Forecast Period | 2024 - 2030 |
| Estimated Market Value ( USD | $ 36.85 Billion |
| Forecasted Market Value ( USD | $ 82.01 Billion |
| Compound Annual Growth Rate | 14.2% |
| Regions Covered | Global |
| No. of Companies Mentioned | 30 |
