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ServiceNow Store Apps Market Size (2024 - 2029)

The ServiceNow Store Apps Market is experiencing rapid growth, driven by the increasing adoption of cloud computing and the demand for cloud-based solutions. This market offers a diverse range of applications that enhance the ServiceNow platform, catering to various sectors such as IT, HR, marketing, and legal. The platform's low-code development tools are particularly appealing, enabling users to create and customize applications with minimal coding effort, thereby facilitating digital transformation. However, challenges such as client customization requests and infrastructure limitations pose obstacles for IT service providers, impacting their ability to scale and meet market demands.

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Market Size of ServiceNow Store Apps Industry

ServiceNow Store Apps Market Summary
Study Period 2019 - 2029
Base Year For Estimation 2023
CAGR (2024 - 2029) 32.73 %
Fastest Growing Market Asia Pacific
Largest Market North America
Market Concentration Medium

Major Players

ServiceNow Store Apps Market Major Players

*Disclaimer: Major Players sorted in no particular order

ServiceNow Store Apps Market Analysis

The ServiceNow Store Apps Market is expected to register a CAGR of 32.73% during the forecast period.

The market for ServiceNow store apps is vibrant and quickly expanding. ServiceNow is a top provider of cloud-based service management solutions, and its ServiceNow store acts as a market for different connectors and applications that improve the performance of the ServiceNow platform.

  • The ServiceNow Store provides clients in IT, application development, and service domains across various enterprises, including HR, marketing, legal, and purchasing, with a buy versus build option. It also allows for discovering, procuring, and deploying applications quickly and securely. The ServiceNow platform is an interest for investment from various firms as the applications are designed and developed for every department. The organizations are offered the liberty to deploy intuitive, user-friendly apps, increasing productivity. The platform provides agility and innovation to drive business growth.
  • Increased adoption of cloud computing and the growing demand for cloud-based solutions are fundamental driving forces escalating the ServiceNow store apps market value. Many big and small businesses have successfully integrated specialized SaaS solutions through cloud computing. This, as a result, has accelerated the adoption of ServiceNow store apps adoption. Additionally, businesses are leveraging the potential of ServiceNow store apps to achieve digital transformation.
  • The ServiceNow app market offers a wide range of low-code development tools and solutions. These tools enable developers, analysts, and business users to build, configure, and customize the application without the need for extensive coding. According to a poll conducted by OutSystems, which provides a low-code software development platform, low-code and no-code solutions appear to be assisting in addressing this difficulty. 71% of developers polled who reported utilizing low-code technologies in their professions indicated they could work a 40-hour work week. In comparison, only 44% of developers at organizations that do not employ low code expressed the same. In addition, 63% of low-code developers were satisfied with their salaries and perks, compared to 40% of traditional developers.
  • On the contrary, the growing client customization requests owing to the dynamic technological advancement in the market have further created hindrances for IT service providers. They frequently encounter challenges regarding networking shortages, hardware requests, and authentication fallouts over sensitive information, as most of the workforce works remotely. The lack of infrastructure and scalability further affects the business of IT service providers, which has become the most significant factor for the company's growth during this period.

ServiceNow Store Apps Industry Segmentation

The ServiceNow store guides to a marketplace developed on the Now Platform for both free and paid certified applications and integrations developed by the Now platform that enable processes and services across the organization. An organization can search for a wide range of certified, ready-to-deploy apps and integrations in the ServiceNow store. Also, it is a platform where an organization can browse, try, and buy apps developed and supported by ServiceNow technology partners.

The global ServiceNow store apps market is segmented by type (cloud-based and web-based), by enterprise size (small and medium enterprises (SMEs) and large enterprises), and by geography (North America, Europe, Asia Pacific, Latin America, and Middle East and Africa).

The market sizes and forecasts are provided in terms of value USD for all the above segments.

By Type
Cloud-Based
Web- Based
By Enterprise Size
Small and Medium Enterprises (SMEs)
Large Enterprises
Geography***
North America
Europe
Asia
Latin America
Middle East and Africa
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ServiceNow Store Apps Market Size Summary

The ServiceNow Store Apps Market is experiencing rapid growth, driven by the increasing adoption of cloud computing and the demand for cloud-based solutions. As a leading provider of cloud-based service management solutions, ServiceNow offers a platform that enables organizations to enhance their operational efficiency through a variety of applications and connectors. These applications cater to diverse sectors such as IT, HR, marketing, and legal, providing businesses with the flexibility to choose between building custom solutions or purchasing ready-made applications. The platform's low-code development tools empower users to create and customize applications with ease, fostering innovation and agility that are crucial for business expansion. However, challenges such as client customization requests and infrastructure limitations pose hurdles for IT service providers, impacting their growth trajectory.

The market is characterized by moderate consolidation, with key players like IBM Corporation, Okta, Inc., and Dynatrace LLC actively expanding their presence through strategic partnerships and service enhancements. Recent developments include significant updates and new features aimed at improving enterprise task management, application performance testing, and software asset management within the ServiceNow ecosystem. These advancements are part of a broader trend towards digital transformation, where organizations are increasingly recognizing the value of cloud-based services in optimizing resource allocation and enhancing security. The North American region is expected to maintain a significant market share, supported by the growing number of small businesses and the rapid advancement of technologies such as machine learning and automation, which are set to further drive the adoption of ServiceNow store apps.

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ServiceNow Store Apps Market Size - Table of Contents

  1. 1. MARKET INSIGHTS

    1. 1.1 Market Overview

    2. 1.2 Industry Attractiveness - Porter's Five Forces Analysis

      1. 1.2.1 Bargaining Power of Buyers

      2. 1.2.2 Bargaining Power of Suppliers

      3. 1.2.3 Threat of New Entrants

      4. 1.2.4 Threat of Substitutes

      5. 1.2.5 Intensity of Competitive Rivalry

    3. 1.3 Industry Value Chain Analysis

    4. 1.4 Assessment of the Impact of COVID-19 on the Market

  2. 2. MARKET SEGMENTATION

    1. 2.1 By Type

      1. 2.1.1 Cloud-Based

      2. 2.1.2 Web- Based

    2. 2.2 By Enterprise Size

      1. 2.2.1 Small and Medium Enterprises (SMEs)

      2. 2.2.2 Large Enterprises

    3. 2.3 Geography***

      1. 2.3.1 North America

      2. 2.3.2 Europe

      3. 2.3.3 Asia

      4. 2.3.4 Latin America

      5. 2.3.5 Middle East and Africa

ServiceNow Store Apps Market Size FAQs

The ServiceNow Store Apps Market is projected to register a CAGR of 32.73% during the forecast period (2024-2029)

IBM Corporation, Okta, Inc., PagerDuty, Teamviewer and Dynatrace LLC are the major companies operating in the ServiceNow Store Apps Market.

ServiceNow Store Apps Market Report Snapshots

ServiceNow Store Apps Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)