Change Management Software Market Estimated to Reach $3.12 Billion by 2025

The Global Change Management Software Market is estimated to reach $3.12 billion by 2025, growing at a CAGR of 8.6% from 2020 to 2025. The function of change management software is to request, determine attainability, plan and implement changes to a system in an organization. Change management software generally enables traceability of changes along with supporting the process of changes made in a system. The main objective of change management software is Implementation of changes in a safe and controlled manner by ensuring risk control. The increasing demand for consistent means of change evolution in the IT and Telecommunication sectors, demand for change management software for governance of change structure in making informed decisions along with need for risk management analysis in an organization are driving the growth of the market.

Key Takeaways

Rise in adoption of change management software in the enterprises owing to the digitization of the enterprises, need for replacement of old technology along with the growth in applications of CMS tools in the end use industries are driving the growth of the market.

Cloud based change management software are dominating the market owing to the rise in cloud networking due to its cost effectiveness and rising internet penetration globally.

APAC is witnessing a significant growth in the market due to the growth in industrial sectors along with the digitization of the enterprises.

By Deployment- Segment Analysis 

By Deployment Change Management Software Market is segmented as Cloud and On-premises. Cloud based deployment of change management software is witnessing a significant growth in the market. The movement of customers to the cloud owing to the reduced IT overcapacity along with ability to quickly scale the business demands are the main factors for the growth of cloud based deployment. Many of the public cloud providers are configuring change management on cloud as they have various tools for installations owing to which many of the organizations are deploying cloud based change management software. The use of cloud based subscription for instance Software-as-Service (SaaS) has increased due to the increased adoption of cloud networking and rising internet penetration globally. These factors are driving the growth of the market.

By Organization Size – Segment Analysis

By Organization Size the market is segmented into Small & Medium Enterprises and Large Enterprises. Small organizations are dominating the market owing to the growth of small and medium enterprises in the developing countries. In addition, the small organizations are using cloud based networking for their business operations for instance asset management, blockchain and others are positively driving the market growth. The Small and Medium enterprises are dominating the market owing the adoption of cloud computing which is driving the need for change management in these enterprises . According to the World Bank, 90% of the business is represented by the small and medium enterprises. In the emerging economies 40% of the national income (GDP) is contributed by the SMEs. Furthermore, enhanced agility in the businesses processes offered by the CMS are also contributing the growth of small and medium businesses. These factors are driving the growth of the market.

By Geography – Segment Analysis

Global Change Management software Market is dominated by APAC region with a market share 36.5% in 2019. The surge in cloud based networking and presence of major key players in which there is requirement of CMS tools are driving the growth of the market. The applications of CMS software in the end used industries such as BFSI, IT and Telecommunication, Consumer Goods and others have increased as it provides improved risk management, enables communication and track changes, facilitates communications between technical teams and users and others. Requirement for cloud managed LAN networks are contributing to further growth of the market in APAC region. Furthermore, dynamic business requirements along with growing enterprises are aiding the growth of cloud based LAN networks in this region. These factors are boosting the growth of the market in this region.

Drivers – Change management Software Market

Upsurge of CMS for risk management:

The cases of cyber-attacks in the enterprises  have increased globally owing to which the change management software are adopted and used widely to mitigate these cyber-attacks. The upsurge in cyber threats and cyber-crime has increased the need for mitigation of risks in the end use industries. The change management software improves the financial and strategic performance of the organization through successful change implementation which drives higher Return on Investment (ROI). In addition, cyber threats generally include a social-engineering or polishing attack. These attacks are mitigated through the use of change management software. The change management software enables enterprises to understand the risk and the changes required to mitigate these risks. These factors are driving the growth of the market.

Rise in growth of IT & Telecommunication sector along with cloud computing:

The growth of IT and telecommunication industries have led to the growth of cloud computing along with growth of devices such as mobiles, laptops and others which are connected to the cloud. The software helps to minimize resistance, enhance innovation, improve work productivity, reduce cost and others owing to which it is widely adopted in the IT and Telecommunication sector. According to the International Trade Administration In 2018, 50% of enterprises with more than 1000 users used products provided by Cloud Access Security Broker (CASB) to monitor and manage their use of software as service in United States. The use of cloud computing has increased the risk of vulnerability threats over the cloud networks. Owing to these benefits there is surge in adoption of cloud based CMS tools which is thereby driving the growth of the market. Furthermore, the use of CMS tools in vulnerability assessment has also driven the growth of the market.

Challenges – Change Management Software Market

Skilled persons required for the implementation of the software:

Although the CMS tools are very useful for the enterprises as they mitigate the IT cyber threat risks for instance APTs, trojen, hackers, malware and others, the CMS tools require skilled persons for installation as they involve complex programming. The requirement of skilled person for change management software installation is one of the factor hindering the growth of the market.

Market Landscape

Change Management Software Market is dominated by major companies such as BMC Software Inc., VMware INC., Oracle Corporation, Microsoft Corporation, CA Technologies, Ivanti, Axios Systems, ServiceNow Inc., Rocket Software Inc., EasyVista INC.  among others.

Acquisitions/Technology Launches

  • January 9, 2020- iTalent Digital launched “Chama”. This software helps to track, measure and implement the changes.