ServiceNow Leads Analyst Ranking for ITSM Software
ServiceNow, the creators of SaaS for IT, today announced Ovum, a Datamonitor company and IT industry analyst firm, has recognized ServiceNow as the leading company ranked in its report, Decision Matrix: Selecting an IT Service Management Vendor.
Based on its analysis of 13 ITSM tool vendors, the report states, “Considered one of the most innovative vendors in the ITSM space, ServiceNow has registered the highest growth rate in the market over the last two years and is set to significantly augment its presence and recognition in the next few years. Ovum believes that ServiceNow has both the vision and the capability to mount a clear and credible challenge for market leadership.”
The report evaluates the ITSM tool market based on “strength of the vendor’s technology offering, reputation among customers, and impact in the market.” ServiceNow was the only company to score a perfect 10 out of 10 in the “Technology” category, alongside a correspondingly high “Customer Sentiment” rating.
Yesterday ServiceNow announced continued significant momentum with more than $125 million in annual recurring revenue as leading industry analysts recognize the company as the fastest-growing, market-share leading cloud service for IT management. This marks the sixth consecutive year ServiceNow recurring revenue has at least doubled year-over-year. The ServiceNow modern approach to ITSM is drastically different from legacy alternatives.
IT Employment Continues Bucking Broader Economic Trends
IT employment continued its month-over-month climb last month growing for the 18th consecutive month. According to a monthly index of IT jobs developed and published by TechServe Alliance, a collaboration of IT services firms, clients, consultants and suppliers, the number of IT jobs increased by 1,800 to 4,053,600 jobs in July and is up by more than 120,000 jobs from July 2010.
Due to regularly reported revisions of BLS data upon which the IT Index analysis is based, the previously reported 300 job June decline is now an 800 job gain; continuing the month-over-month growth trend.
“Despite the tepid recovery, IT employment remains a bright spot. Both the data and the anecdotal reports of our member companies confirm that demand for IT professionals remains robust with an acute shortage of qualified professionals in certain skill sets,” said Mark Roberts, CEO of TechServe Alliance, in a statement. “While mindful that the IT employment is not immune to the broader macroeconomic trends, we remain optimistic about the prospect of continued growth in IT employment for the foreseeable future.”
Marketsandmarkets: World Healthcare IT Market Expected to be US$ 162.2 Billion by 2015
According to Marketsandmarkets’ World Healthcare IT Market: Trends & Forecast (2010-2015) the global healthcare IT market is expected to grow from $99.6 billion in 2010 to $162.2 billion in 2015, at a CAGR of 10.2% from 2010 to 2015.
Support from the government in the form of stimulus packages is the biggest strength for the market. Implementation of nationwide health records in the U.S., Europe, China, and all the other major markets depends upon the government initiatives. The healthcare IT market is also witnessing many developments with the introduction of healthcare reforms in developed nations.
While the current healthcare information technology market focuses on interoperability platforms to enable data exchange across hospital networks and diagnostic centers, IT implementation has already streamlined healthcare and hospital procedures such as billing, medical imaging, and diagnostic information. However, the market still offers more scope for development.
With the changing terms between clients and vendors, the markets offer huge opportunity for domain specific players. Healthcare IT providers generate more than 60% of their revenue through license updating and the remaining through new client acquisitions. This has attracted the attention of many non-healthcare segment players such as Google, which is offering Google health record for maintaining patient data.