The change management software market is expected to expand its roots at a steady CAGR of 8.9% during the forecast period. The market is likely to hold a revenue of USD 2.06 billion in 2023 while it is anticipated to cross a value of USD 4.8 billion by 2033.
As the market for artificial intelligence and machine learning grows, so does the expansion of DevOps. The rising use of AI is projected to give change management software providers huge opportunities.
The demand for change management software is likely to grow as digital transformation, automation of IT processes, and applications become more common.
Change management software aids in reducing the negative consequences of IT migrations on an organization. This factor is likely to contribute to the growth of the market.
With the majority of workstations moving to remote locations, the demand for change management software to regularly monitor logs for suspicious activity is rising. Ensure that confidential files are not accessed through log management. This is also expected to boost the sales of change management software in the change management software market during the forecast period.
| Attributes | Details |
|---|---|
| Market CAGR (2023 to 2033) | 8.9% |
| Market Size (2023) | USD 2.06 billion |
| Market Size (2033) | USD 4.8 billion |
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The demand for change management software is anticipated to rise as it allows the traceability of changes as well as the support of the change process in a system.
The fundamental goal of change management software is to ensure that changes are implemented in a safe and controlled manner while also controlling risk. The market is being driven by the growing sales of change management software and the demand for consistent means of change evolution in the IT and telecommunications sectors.
The growing demand for change management software for the governance of change structures in making informed decisions and the need for risk management analysis in organizations.
The growing cyberthreats across businesses has surged the demand for change management software. The rise in cyber threats and cybercrime has heightened the demand for risk mitigation in end-user businesses. The software enable the businesses to overcome risks and combat the threats.
The sales of change management software are rising as it improves the financial and strategic performance of the business, resulting in a higher Return on Investment (ROI).
A social engineering or polishing attack is also a common component of cyber threats. Change management software is used to counteract these attacks, thereby driving the demand of the market during the forecast period. Enterprises can use change management software to understand the risk and the modifications needed to mitigate it.
The growing demand for consumer electronic such as, smartphones, laptops, and tablets has propelled the demand for the market. In addition, the developing IT & Teecom industries is expected to surge the market growth over the forecast period.
The demand for change management software is growing as it helps to eliminate resistance, boost creativity, increase job efficiency, and lower costs. The sales of the software are rising as it is widely used in the IT & Telecom industries.
The International Trade Administration (ITA) stated that 50% of enterprises in the USA have deployed Cloud Access Security Broker (CASB) technology for around 1,000 users. The aim of these businesses is to monitor and control their use of software as a service
The rising demand for change management software and cloud computing has increased the vulnerability of cloud networks to attacks. These advantages has boomed the adoption of cloud-based CMS software.
In addition, the usage of CMS technologies in vulnerability assessments is anticipated to fuel the sales of change management software during the forecast period.
| Countries | Revenue Share % (2023) |
|---|---|
| United States | 18.1% |
| Germany | 6.5% |
| Japan | 3.2% |
| Australia | 1.6% |
| Countries | CAGR % (2023 to 2033) |
|---|---|
| China | 9.6% |
| India | 9.4% |
| United Kingdom | 9.3% |
Over the forecast period, Asia Pacific is anticipated to witness the highest growth in the change management software market. China and India are regarded as high-demand markets for change management software, with CAGRs of 9.6% and 9.4%, respectively.
Businesses strive to provide quick access to accurate records, protect themselves from cybersecurity risks, and perform critical duties. Such as decreasing outages and breaches while lowering costs.
Due to the growth in IT infrastructures in China, numerous businesses have turned their attention to configuration management. The demand for change management software solutions in the region has been driven by the optimization of IT asset maintenance to avoid discrepancies.
According to the Small and Medium Enterprise Agency (SMEA) of Japan, 99.7% of functional industries come under the small and medium enterprise (SME) group. Making Japan an excellent country for configuration management solutions in the APAC region.
SMEs have favored low to medium-cost options, such as change management software, over ERP solutions because of financial constraints and a lack of IT infrastructure.
For the change and configuration management sector, the Asia Pacific region is quickly becoming one of the fast-growing regions. Change management is emerging as a solution to help global companies cope with frequent challenges that come when dealing with worldwide teams. New expansion regions, and an influx of data as they expand their reach into the Asia Pacific and boost their investments in IT initiatives.
| Category | By Deployment Mode |
|---|---|
| Leading Segment | On-Premises |
| Market Share (2022) | 58.7% |
| Category | By component Type |
|---|---|
| Leading Segment | Software |
| Market Share (2022) | 63.4% |
In the change management software market, cloud-based deployment is gaining traction at 11.9%. Though, the on-premise segment leads the market as it held a market share of 58.7% in 2022. The ability to swiftly expand business demands and the shift of customers to the cloud as a result of reduced IT overcapacity are the key reasons driving the growth of cloud-based deployment.
Many public cloud providers are configuring change management on the cloud since they have various tools for installations. Leading to the deployment of cloud-based change management software by many enterprises.
Due to the increased use of cloud networking and expanding internet penetration internationally, the use of cloud-based subscriptions such as Software-as-a-Service (SaaS) has expanded. These factors are propelling the demand for change management software forward.
Due to the increase in small and medium businesses in developing countries, SMEs are dominating the change management software market. Furthermore, small businesses are using cloud-based networking for their business operations. Such as asset management, blockchain, and others, which is boosting the sales of change management software.
Due to the use of cloud computing, small and medium businesses are dominating the market for change management software, necessitating the demand for change management software in these businesses.
According to the World Bank, small and medium-sized businesses account for 90% of all businesses. Small and medium-sized businesses (SMEs) generate 40% of national income (GDP) in emerging economies. Furthermore, the CMS's increased agility in business operations contributes to the growth of small and medium enter.
More than half of the market is controlled by a few leading players. The expansion of these firms in the field of cloud technologies coupled with artificial intelligence (AI), IoT, and other technologies is reflected in the analysis of significant market share for these companies.
Key players in the change management software market are concentrating their efforts on completing various business models to provide advanced change management solutions
Market Developments
The market is estimated to secure a valuation of USD 2.06 billion in 2023.
The market is in high demand, expanding at a CAGR of 8.9%.
Increasing commonality of automated IT processes and digital transformation.
Escalated cyber-attacks are expected to push the sales of change management software.
China has high growth rate, expanding at a CAGR of 9.6%.
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Change Management Software Market
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