ServiceNow, an AI-powered, once-in-a-generation, and fastest-growing platform, is the most exciting period of innovation history. It is a single pane of glass above the legacy systems, manual processes, and cumbersome operations. With uncountable capabilities, ServiceNow is accelerating digital transformation through simplified processes and greater organizational agility for customers.
Long story short, ServiceNow is playing the long game in business transformation with its breakthrough in AI and generative AI trends. So, what made ServiceNow a key market player and increased adoption? Well, the answer is its commitment, capabilities, and innovative solutions across the industry. But we know you need the actual numbers, facts, and data.
Here, we have created consolidated ServiceNow Statistics to improve your decision-making while you adopt ServiceNow as a platform for your business needs.
ServiceNow 2024 Quarter Wise Revenue
ServiceNow’s revenue trajectory demonstrates consistent growth across subscription revenues, customer acquisition, and performance obligations, reflecting its strong market position and increasing enterprise adoption. Here’s a breakdown of its quarter-wise and yearly financial performance highlights:
Q4 2024:
- For Q4, 2024 the estimated revenue is $2.9 Billion
Q3 2024:
- Subscription Revenues: $2.715 Billion
- YoY constant currency growth: 22.5%
- Current Remaining Performance Obligations (cRPO): $9.36
- Total Customers: 2020, where in 44 customers with > $1M in Now Assist ACV
- 15 deals > $5M NNACV
- 50% YoY growth
Q2 2024
- Subscription revenues of $2,542 million Representing 23% year‑over‑year growth, and 23% in constant currency
- Current remaining performance obligations of $8.78 billion
- Total revenues of $2,627 million in Q2 2024
- The company now has 1,988 total customers with more than $1 million in annual contract value (“ACV”), representing 15% year‑over‑year growth in customers.
- 11 deals greater than $1 million
Q1 2024
- Subscription revenues of $2,523 million in Q1 2024, representing 25% year‑over‑year growth and 24.5% in constant currency.
- Current remaining performance obligations of $8.45 billion
- 8 transactions over $5 million in net new ACV in Q1 2024, up 100% year‑over‑year
- The company now has 1,933 total customers with more than $1 million in annual contract value (“ACV”), representing 15% year‑over‑year growth in customers.
2023
- $8.68 billion subscription revenues
- 25.5% YoY constant currency growth+
- $2.7 billion Free cash flow
- 8,100+customers
- 85% of the Fortune 500 use ServiceNow
2022
- Subscription revenues of $1,860 million in Q4 2022, representing 22% year-over-year growth, 27.5% adjusted for constant currency.
- Current remaining performance obligations (“cRPO”), contract revenue that will be recognized as revenue in the next 12 months, was $6.94 billion, representing 22% year-over-year growth and 25.5% adjusted for constant currency
- 7,700+ Customers
2021
- Subscription Revenues: $1523 Million
- Current RPO (cRPO) $5.7B
- 98% Renewal Rate
- 80% Fortune 500 penetration
Last 8 Year Revenue of ServiceNow
ServiceNow Market Share
In the software market, ServiceNow is the fastest-growing company, with an estimated revenue of $2.9 billion in 2024. When talking about market share, ServiceNow is a significant player in the IT Service Management (ITSM) and IT Operations Management (ITOM) markets, along with other key products. ServiceNow’s market share is growing rapidly in the software market.
1. Gartner Market Share, 2023 in Technology Workflows
ServiceNow ranks No. 1 and No. 2 in technology workflow markets in Gartner Market Share, 2023. These are the major areas where ServiceNow ranked in regard to software market share:
- No. 1 in IT Operations
- No. 1 in IT Service Management (ITSM) Platforms
- No. 1 in Artificial Intelligence for IT Operations Platforms
- No. 1 in IT Asset Management and Software Asset Management
- No. 1 in Project and Portfolio Management software as a service (SaaS) based on market share of ServiceNow Strategic Portfolio Management (SPM)
- No. 2 in Other Security Software
2. APAC leader by IDC for APAC Low-Code/No-Code Development Platforms
ServiceNow has been named an APAC leader by IDC’s inaugural MarketScape for APAC Low-Code/No-Code Development Platforms for outstanding AI solutions that meet the current and future needs of enterprises and workforces in the region
3. Leader in Gartner Magic Quadrant
ServiceNow is a Leader in the 2024 Gartner Magic Quadrant for AI Applications in ITSM
4. Leader in cloud solutions by IDC
IDC MarketScape names ServiceNow a Leader in cloud solutions
5. Leader in SPM
Forrester named ServiceNow a Leader in Strategic Portfolio Management
ServiceNow Market Leadership
By providing a single, unified platform for automation, ServiceNow stands apart from its competitors through its innovation, scalability, and user-centric approach. Here’s how ServiceNow compares to other platforms in the industry:
Adobe: Adobe excels in creative tools and marketing solutions, providing unparalleled services in design, content creation, and digital experiences. However, ServiceNow offers a unified approach to enterprise automation, encompassing ITSM, HR workflows, and operational excellence. While Adobe’s strength lies in creativity and digital marketing, ServiceNow focuses on streamlining business operations across multiple departments, offering a complementary yet distinct solution.
Workday: Workday is a leader in human capital management (HCM) and financial management, delivering robust tools for workforce planning and analytics. In contrast, ServiceNow extends beyond HCM to provide enterprise-wide automation, including ITSM, HR service delivery, and operational workflows. Integrating across business units and offering greater scalability, ServiceNow complements Workday’s focus on HR and finance with broader enterprise solutions.
Zendesk: Zendesk focuses primarily on customer support and helpdesk solutions, whereas ServiceNow extends beyond customer service to include IT operations, asset management, and security operations.
Salesforce: Although Salesforce leads in customer relationship management (CRM), ServiceNow outshines it in IT operations and enterprise service workflows, offering deep integrations and advanced ITSM capabilities.
Freshworks: Freshworks targets small and medium businesses with lightweight tools. In contrast, ServiceNow is built to scale with global enterprises, delivering robust solutions for complex operational needs.
ServiceDesk Plus (ManageEngine): While ServiceDesk Plus caters to IT helpdesk functions, ServiceNow provides an enterprise-wide approach, incorporating artificial intelligence, machine learning, and workflow automation.
BMC: BMC is strong in IT operations and infrastructure management, but ServiceNow differentiates itself with its modern interface, superior user experience, and cloud-first approach.
SAP: SAP offers powerful enterprise resource planning (ERP) solutions, but it lacks the flexibility and user-friendly workflow automation ServiceNow provides across diverse business functions.
IBM: IBM’s cloud and AI solutions are robust, yet ServiceNow takes the lead in workflow automation and operational agility, delivering faster time-to-value and intuitive implementation.
Microsoft: Microsoft tools like Power Automate and Dynamics 365 are strong in collaboration and CRM. However, ServiceNow’s unmatched specialization in ITSM, security operations, and its Now Platform gives it a distinct advantage.
Top industries that use ServiceNow
ServiceNow’s versatile platform is trusted by a wide range of industries to streamline operations, improve service delivery, and enable digital transformation. By offering tailored solutions and workflows, ServiceNow helps organizations across various sectors achieve efficiency and scalability. Here are the industries they serve:
- Education
- Government
- Nonprofit
- Telecommunications, Media, and Technology
- Energy and utilities
- Healthcare and life sciences
- Retail
- Financial Services
- Manufacturing
- Service Providers
Brands that use ServiceNow
With over 8100+ customers, including Fortune 500 companies. ServiceNow has worked for some of the most highly regarded brands, including Coca-Cola, Dropbox, British Telecom, NatWest Group, Vodafone, NHS, ISG, Khan Bank, Lenovo, and many more.
ServiceNow Partnerships in 2024
ServiceNow has been actively forging strategic partnerships to enhance its platform’s capabilities and expand its market reach. Let’s delve into some of its key partnerships in 2024:
NVIDIA: By combining ServiceNow’s workflow automation capabilities with NVIDIA’s AI and ML expertise, organizations can accelerate digital transformation, enhance operational efficiency, and gain valuable insights from their data.
Siemens: This partnership enables organizations to optimize their industrial processes, reduce downtime, and enhance overall productivity by leveraging ServiceNow’s workflow automation and Siemens’ domain expertise in industrial automation.
Rimini Street: ServiceNow and Rimini Street collaborated to provide comprehensive support and maintenance services for enterprise software, including ServiceNow’s own products.
Zoom: ServiceNow and Zoom integrated their platforms to conduct virtual meetings, webinars, and other collaborative activities directly within the ServiceNow platform, improving productivity and efficiency.
Microsoft: ServiceNow and Microsoft deepened their partnership to deliver integrated solutions across various domains, including IT service management, HR, and customer service.
ServiceNow Innovations in 2024 to Keep an Eye on
ServiceNow has introduced several significant innovations in 2024; here’s a breakdown of these innovations:
1. Generative AI integration across operations
ServiceNow integrates generative AI capabilities into its platform to automate tasks, generate insights, and improve decision-making across various operational areas. This includes features like AI-powered virtual assistants, automated report generation, and intelligent workflow recommendations.
2. Enhanced Creator Workflows to scale digital transformation
ServiceNow is streamlining its development tools and processes to empower citizen developers and professional developers to build custom applications and workflows more efficiently. This includes low-code/no-code development tools, pre-built templates, and AI-assisted development features.
3. Industry Specific AI Solutions
ServiceNow is developing industry-specific AI solutions tailored to the unique needs of different sectors, such as healthcare, finance, and IT. These solutions leverage AI to address specific challenges and improve operational efficiency.
4. Agentic AI and elevated customer experiences
ServiceNow is introducing agentic AI capabilities to its platform, enabling more autonomous and intelligent workflows. This includes AI-powered agents that can proactively resolve issues, anticipate needs, and provide personalized customer experiences.
5. ServiceNow Xanadu Release
The Xanadu release is a major platform update introducing several new features and enhancements, including improved performance, scalability, and security. It also includes advancements in AI, automation, and user experience.
6. TapeAgents
TapeAgents are a new type of AI-powered workflow that can autonomously execute tasks and make decisions based on predefined rules and machine learning models. This enables organizations to automate complex processes and reduce manual effort.
ServiceNow Acquisitions
ServiceNow invests in technology and expertise with key technology partners to expand its capabilities and manpower. Here are the acquisitions till now by ServiceNow:
2024
| Acquired Company | Year of Acquisition |
| Mission Secure | 18 November, 2024 |
| Raytion | 24 July, 2024 |
| 4Industry | 18 March, 2024 |
2023
| Acquired Company | Year of Acquisition |
| Ultimate Suite | 19 December 2023 |
| G2K | 15 May, 2023 |
2022
| Acquired Company | Year of Acquisition |
| Era | 05 October, 2022 |
| Hitch | 03 June, 2022 |
2021
| Acquired Company | Year of Acquisition |
| DotWalk | 23 November, 2021 |
| Gekkobrain | 07 October, 2021 |
| Mapwize | 12 August, 2021 |
| Swarm64 | 05 August, 2021 |
| LightStep | 10 May, 2021 |
| Intellibot | 23 March, 2021 |
2020
| Acquired Company | Year of Acquisition |
| Element AI | 30 November, 2020 |
| SWEAGLE | 22 June, 2020 |
| Passage AI | 28 January, 2020 |
| Loom Systems | 22 January, 2020 |
2019
| Acquired Company | Year of Acquisition |
| Fairchild Resiliency Systems | 10 November, 2019 |
| Attivio | 23 October, 2019 |
| Appsee | 13 May, 2019 |
2018
| Acquired Company | Year of Acquisition |
| FriendlyData | 11 October, 2018 |
| Parlo | 03 May, 2018 |
| VendorHawk | 25 April, 2018 |
2017
| Acquired Company | Year of Acquisition |
| SkyGiraffe | 25 October, 2017 |
| Digital Telepathy | 29 September, 2017 |
| Qlue | 17 May, 2017 |
| DxContinuum | 03 March, 2017 |
2016
| Acquired Company | Year of Acquisition |
| BrightPoint Security | 01 June, 2016 |
| ITapp | 05 April, 2016 |
2015
| Acquired Company | Year of Acquisition |
| Intreis | 24 February, 2015 |
2014
| Acquired Company | Year of Acquisition |
| Neebula | 09 July, 2014 |
| Nebula Systems | 09 July, 2014 |
2013
| Acquired Company | Year of Acquisition |
| Mirror 42 | 01 July, 2013 |
Aelum Consulting’s Role in Maximizing the ServiceNow Potential for Businesses
Without a doubt, ServiceNow is a growing platform, and in the upcoming years, it will transform how businesses operate by streamlining workflows, enhancing efficiency, and driving innovation. Aelum Consulting, a leading ServiceNow Premier Partner, utilizes platform’s full potential. Through tailored solutions, expert implementation, and ongoing support, Aelum ensures that businesses can maximize their ROI on ServiceNow investments, adapt to evolving demands, and stay ahead in a competitive landscape. Along with our 180+ ServiceNow certified experts, we are eager to transform every corner of the business scenario.
Frequently Ask Questions (FAQs)
1. What is ServiceNow’s turnover?
ServiceNow’s revenue for 2024 is expected to be approximately $10.93 billion, a 22% increase from 2023.
2. Why company use ServiceNow?
People use ServiceNow for its uncountable benefits, such as the increase in productivity, workflow automation, self-service portals, streamlined operations, and enhanced employee and customer experience
3. Who is the CEO of ServiceNow?
Bill McDermott is the CEO of ServiceNow from 15th November 2019
4. Is ServiceNow Data-Driven or Employee Centric?
With capabilities like building and managing analytical products for various operational tasks, it is data-driven, and offerings such as ITSM, HRSD, and WSD, including features like self-service, make it both data-driven and employee-centric.
5. Has ServiceNow ever been profitable?
ServiceNow is the fastest-ever enterprise software company to break the $2BN revenue barrier, and it has consistently been profitable since 2014