Increase in adoption of problem management software management is expected to fuel the market during forecast period. However, high cost of implementation is expected to restraint the market growth. Moreover, rise in adoption of cloud-based problem management software due to its features such as scalability, easy access, flexibility, and uninterrupted services offer ample of opportunity to the market growth.
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Problem management software proactively examines requests to detect a recurring pattern and identifies the root cause for an issue. Further, it helps organizations minimize the business impact of service disruptions, and prevents future disruption. BMC Software Inc., Cherwell Software, and IBM Corporation are some of the key players in the IVR system market.
The report segments the problem management software market on the basis of component, deployment type, industry vertical, and geography. On the basis of component, it is into software and services. On the basis of deployment type, it is classified into on-premises and cloud. On the basis of industry vertical, it is categorized into Banking Financial Services and Insurance (BFSI), healthcare, retail, IT & telecom, manufacturing, and others. By geography, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Key players profiled in the report include BMC Software Inc., Cherwell Software, IBM Corporation, LANDESK, ServiceNow, Zoho Corporation, Alcatel-Lucent, SoftExpert, Freshworks Inc., and SolarWinds.
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