Change and Configuration Management Market Size

Change & Configuration Management Market Analysis

The Change and Configuration Management Market size is estimated at USD 1.95 billion in 2024, and is expected to reach USD 2.89 billion by 2029, growing at a CAGR of 8.26% during the forecast period (2024-2029).

The change and configuration management market is gaining pace in various end-user industries. The rising usage of configuration management can be ascribed to various benefits, including significant cost savings due to less redundant duplication and faster problem resolution, resulting in higher service quality. It offers strong development for large organizations, cloud service providers, and midmarket customers.

• The global network configuration and change management market is predicted to grow rapidly during the forecast period due to increased network size and complexity due to the organization's global expansion. Including new devices and technology to meet corporate demands has greatly increased the network's size. IT managers in firms must deal with the concerns of performance degradation and network downtime prevention. Most network outages and application performance deterioration are caused by incorrect manual configuration changes, necessitating more effective configuration management.
• The storage of CIs in CMDB results in the construction of a unified repository for the system's information. This allows IT managers to more easily regulate the state of system components, monitor requirement changes at both the infrastructure and individual levels, and assure system availability by diagnosing system faults in real-time. Establishing effective ground rules with which they can reduce system downtimes, improve compliance with guidelines, improve the flexibility of the infrastructure, and automation of the process to a certain extent, allowing them to focus on their core business functions, are some of the major motivators for organizations to use change and configuration management.
• Automated network configuration and change management systems help to reduce human errors caused by manual configuration changes, resulting in fewer network outages and degradation. These solutions continuously monitor device configurations and offer real-time notifications and warnings whenever a configuration change occurs, allowing for better configuration file management in a multi-vendor network environment. Over the projection period, the NCCM (network configuration and change management) market would be driven by cost savings from the automation of traditional configuration management. The introduction of networking technologies like Network Function Virtualization (NFV) and Software-defined Networking (SDN) has aided in adopting these solutions.
• Moreover, multiple organizations' clients would require HIPAA or FINRA compliance for the documents they entrust to the company. Therefore, document management systems must incorporate features that take extra steps to fully comply with all applicable privacy laws to protect the company's and its client's information.In the digital era, protecting online documents is essential to prevent data breaches and malicious attacks from hackers. Security is becoming a significant concern for many companies that have deployed DMS. Besides the financial consequences, a data breach can cause customer loss, brand reputation damage, company secrets leaking, compliance, and legal issues.
• Numerous obstacles related to the COVID-19 pandemic included national and local shortages of medical devices, personal protective equipment (PPE), and hospital supplies. The normal strategy was to fill client shortages as soon as possible.
• When decisions to rush items to market are based on appropriate risk/benefit calculations, the product's integrity, protocols, and customer happiness can be maintained even during a crisis. During a national disaster, getting desperately required products out the door and into customers' hands may need shortcuts that carry more than their fair share of dangers. Such instances pushed the market during a pandemic.