The market for servicenow store apps is growing owing to the need for organizations to streamline their IT service management (ITSM) operations.
PORTLAND, PORTLAND, OR, UNITED STATES, April 18, 2023 /EINPresswire.com/ — The servicenow store apps market was valued at $5.9 billion in 2021 and is expected to reach $94.9 billion by 2031, rising at a CAGR of 32.5% between 2022 and 2031.
The ServiceNow Store is a software marketplace for the integration of apps developed and delivered on the ServiceNow platform, both free and paid versions. Its primary mission is to commercially monetize and market cloud-native enterprise applications developed by third-party independent software vendors (ISVs), solution providers, system integrators, and service providers.
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ServiceNow Store Apps Market Dynamics:
The ServiceNow Store is an online marketplace that offers a wide range of pre-built applications and integrations for the ServiceNow platform. The market for ServiceNow Store apps is driven by several factors. One of the main drivers is the need for organizations to streamline their IT service management (ITSM) processes. ServiceNow Store apps can help organizations automate workflows and improve efficiency, reducing the time and effort required to manage IT services. Another factor driving the market is the increasing demand for digital transformation. ServiceNow Store apps can help organizations modernize their legacy systems and enable them to adapt to new technologies and business models.
Additionally, the growing complexity of IT environments is fueling the demand for ServiceNow Store apps. As organizations adopt cloud-based services, mobile devices, and other technologies, the need for apps that can integrate and manage these disparate systems becomes more pressing. Finally, the market is seeing increased demand for industry-specific solutions. ServiceNow Store apps are available for a wide range of industries, including healthcare, finance, and manufacturing, providing organizations with tailored solutions that meet their unique needs.
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ServiceNow Store Apps Market Trends:
The ServiceNow Store apps market is experiencing several trends that are shaping its growth and evolution. One trend is the increasing adoption of artificial intelligence (AI) and machine learning (ML) technologies. ServiceNow Store apps are incorporating AI and ML capabilities to help organizations automate processes, improve decision-making, and enhance the user experience. Another trend is the rise of low-code and no-code development platforms. ServiceNow Store apps are becoming more accessible to non-technical users, allowing organizations to develop and deploy apps more quickly and efficiently. The market is also witnessing the emergence of new categories of ServiceNow Store apps. For example, there is growing demand for security and compliance apps that help organizations manage risks and comply with regulations.
Additionally, the market is seeing increased collaboration between ServiceNow and other software vendors. ServiceNow Store apps are being integrated with other platforms and services, providing organizations with a more comprehensive solution for managing their IT operations. Finally, the market is experiencing a shift towards subscription-based pricing models. ServiceNow Store apps are increasingly being offered on a pay-as-you-go basis, allowing organizations to scale their usage up or down as needed and reducing the upfront costs of implementation.
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The key players profiled in the ServiceNow store apps market analysis are Dynatrace LLC, Talkdesk, Inc., Microsoft Corporation, xMatters, Inc., Teamviewer, International Business Machines Corporation, Cisco Systems Inc., Okta, Inc., PagerDuty, Sailpoint Technologies Inc. Market players have adopted various strategies, such as collaboration & partnership, investment, product launches, joint ventures, and acquisition to expand their foothold in the ServiceNow store apps industry.
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