Industry Background:
Software asset management is defined as the combination of processor, technology as well as specialized knowledge through which software license risks can be managed and controlled. A major benefit of software assets management is cost savings and optimization, budgeting, best-fit licensing, security risk reduction, elimination of waste and redundancy, volume discounts, integration of other managed services, reduction in liability risks, among others. A growing need for managing the lifecycle of assets and the rising pressure on software vendors and users to adhere to the regulations as well as compliances is anticipated to drive the global software asset management market over the forecast period.
Attributes | Details |
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Study Period | 2017-2028 |
Base Year | 2021 |
Unit | Value (USD Billion) |
Key Companies Profiled | IBM Corporation (United States), Freshworks Inc. (United States), Ivanti Software, Inc. (United States), SolarWinds Corporation (United States), Zoho Corporation (India), USU Software AG (Germany), Snow Software Inc. (Sweden), Comparex AG (Germany), BMC Software, Inc. (United States) and SAP SE (Germany) |
According to AMA, the market for Software Asset Management is expected to register a CAGR of 15.2% during the forecast period to 2028. This growth is primarily driven by Increasing Need to Manage the Life Cycle of Assets and Compliance-Readiness and Rising Requirement for Maintenance of Cost and Risk Management in Business Organizations.
Globally, a noticeable market trend is evident Improving your software license management and proven strategies for SAM in the cloud The Internet Software & Services sector in the North America region has been increasing at a sustainable rate, and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Players, such as IBM Corporation (United States), Freshworks Inc. (United States), Ivanti Software, Inc. (United States), SolarWinds Corporation (United States), Zoho Corporation (India), USU Software AG (Germany), Snow Software Inc. (Sweden), Comparex AG (Germany), BMC Software, Inc. (United States) and SAP SE (Germany), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years. Numerous players are present in the market hence fragmented nature of the market. Market leaders such as IBM Corporation (United States), Freshworks Inc. (United States), Zoho Corporation (United States) are focusing on technological development to manage the life cycle of assets and compliance-readiness
In May 2017, the ServiceNow, Inc. (United States) Company has launched Software Asset Management, which is intended to fix licensing issues before they affect the bottom line, often in the form of financial penalties in the wake of audits. Therefore, this would help in enhancing the customer base of the company in the future.
Influencing Trend:
Improving your software license management and proven strategies for SAM in the cloud
Market Growth Drivers:
Increasing Need to Manage the Life Cycle of Assets and Compliance-Readiness and Rising Requirement for Maintenance of Cost and Risk Management in Business Organizations
Challenges:
Lack of Transparency among Various Departments and Presence of Complex IT Environments
Restraints:
Budget Constraints and Lack of Awareness among SMEs
Opportunities:
Rising Demand from Emerging Economic such as China and India, Evolution of Internet of Things (IoT) and the Rapidly Growing Number of IoT Devices and The Growing Cloud Hosting Business
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Players landscape impacting the growth of the market. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints in Software Asset Management Market
- Analysis about New Entrants in Software Asset Management Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
- An Unbiased Perspective towards Market Performance & Indicators
Against this Challenging Backdrop, Software Asset Management Study Sheds Light on
The Software Asset Management Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Software Asset Management industry Players. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Software Asset Management industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Players can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.