According to the new market research report “Change and Configuration Management Market by Components (Software and Services), Deployment (Cloud and On-premise), Organization Size (SME and Enterprises), Vertical, and Region – Global Forecast to 2021”, published by MarketsandMarkets™, the change and configuration management market size is estimated to grow from USD 1.21 Billion in 2016 to USD 2.04 Billion by 2021, at a Compound Annual Growth Rate (CAGR) of 11.0%.
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Factors such as simplified management of IT resources in a complex IT ecosystem has increased its application across various industry sectors and is driving the change and configuration management market.
The software segment for change and configuration management market is expected to hold the largest market size during the forecast period.
An IT ecosystem is composed of physical aspects as well as logical aspects such as source codes, requirement documents, reports, test cases, test scripts, and more. Change and configuration management software can enable administrators to control the complex processes involved in the management of this ecosystem and streamline them. The benefits arising from the usage of these software are improved compliance with regulations, higher productivity, and lower costs, to name a few.
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The SME market for change and configuration management is expected to grow at the highest CAGR during the forecast period.
There is always a strain on resources for SMEs, in such a scenario the extent of flexibility and automation allowed for by configuration management tools can be highly beneficial. Effective change and configuration management policies can also be beneficial when partnering with larger organizations, as they might expect such practices to be in place while considering companies to partner with to reduce their overheads.
Rapid adoption of change and configuration management practices due to a strong and well established economy makes North America the largest market in terms of global share.
The North American region contains developed countries, which have a deep-rooted infrastructure, thus favoring the huge demand in change and configuration management market. Top contributing countries to the change and configuration management market in North America include the U.S. and Canada. The cause for the dominance of these countries is their well-established economies, which allow for investments in new technologies. The change and configuration management market is expected to rise significantly, due to the increasing demand for agile IT infrastructures driven by emergence of digital technologies.
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