Market Highlights
Software asset management enables efficient optimization of operations such as purchase, deployment, disposal, utilization, etc. In this report by Market Research Future, the assessment of the global software asset management market is covered in detail. It reveals that the market is expected to strike 14.18% CAGR over the review period 2018 to 2023. The market is further assessed to reach a valuation of 2.45 Bn by 2023.
The key factor driving the global software asset management market is increasing the need for managing the lifecycle of assets due to increasingly dynamic information technology (IT) environments, and the demand for efficiency with regards to the ability to effectively access, manage, and secure both software and hardware assets. Other factors driving the market are cost management, improved IT operations productivity and enhanced cybersecurity. However, lack of awareness among small & medium enterprises (SME’s) regarding software asset management can hinder the market growth.
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Segmentation:
By component, the market is segmented into solution and services. Solution is sub-segmented into license management, audit and compliance management, software discovery, metering, and optimization, contract management, configuration management, and others. Services is sub-segmented into professional services and managed services.
By deployment, the market is segmented into on-premise and on cloud.
By organization size, the market is segmented into small and medium enterprises and large enterprises.
By vertical, the market is segmented into BFSI, IT & telecom, government, healthcare, retail, and others
Regional Analysis:
The regional segments of the global software asset management market identified in the regional analysis included in this report are - North America, Asia Pacific (APAC), Europe, and the Rest of the World (RoW). North America is assessed to hold the dominant position in the marketplace through the forecast period. The enterprises in the region are quick to adopt new technologies. This, in turn, is poised to drive the growth of the software asset management market in the region during the assessment period.
Europe is the second-most prominent software asset management market and is likely to earn substantial revenues over the next few years. Meanwhile, Asia Pacific resonates immense potential for growth. It is anticipated to mark the highest CAGR across the projection period.
Competitive Dashboard:
Aspera Technologies (US), CA Technologies (US), BMC Software (US), Microsoft (US), Symantec (US), Cherwell Software (US), Certero (UK), Flexera (US), Ivanti (US), IBM (US), Micro Focus (UK), ServiceNow (US), CloudFabrix Software Inc.(U.S), Scalable Software (US), and Snow Software (Sweden) are few of the key players of the software asset management market profiled in this MRFR report.
Technological innovations by the market participants are expected to intensify the competitiveness in the global marketplace over the next couple of years. In addition, growth strategies such as mergers & acquisitions, product launches, portfolio development, collaborations, strategic alliances, etc. are anticipated to be witnessed in the software asset management market in the upcoming years.
Industry News:
In October 2019, a leading provider of industrial automation cybersecurity solutions, Radiflow, has jointly announced with Asset Guardian, a dedicated provider of leading-edge protection, the launch of a solution for the expansion of industrial asset monitoring.
In October 2019, iPR Software, a leader in online publication and digital publishing, has announced the launch of its first Artificial Intelligence application, Metatron.
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