Software Asset Management Market Research Report, By Component (Solution, & Services), Deployment (On-Premise, & Cloud), Organization Size (Small and Medium, Large), Vertical (BFSI, Healthcare, IT & Telecommunication, Retail) – Forecast till 2023
Pune, India – July 13, 2018 —
Software asset management is a business practice designed to reduce IT costs, limit risks related to the ownership and use of software, and increase corporate-wide and IT efficiencies. It provides better insight into software usage and value, reduce over or under-licensing of software and improve system security, data integrity, and data security. IBM Tivoli, BMC IT Asset Management, CA IT Asset Management, Oracle PeopleSoft, HP Asset Management and Service now Asset Management are some of the growing products which have established themselves as leaders in the software asset management area.
The market for software asset management is expected to grow due to increasing need for managing the lifecycle of assets. In today’s increasingly dynamic IT environments, the ability to effectively access, manage, and secure both software and hardware assets has become more critical than ever. Software asset management practices allow IT organizations to contrast the current and future costs of assets and based on the projections, improve IT operations productivity and enhance cybersecurity. However, lack of awareness among SME’s regarding software asset management may hamper the growth of the market.
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Major Key Players
Aspera Technologies (US),
BMC Software (US),
CA Technologies (US),
Cherwell Software (US),
Micro Focus (UK), Scalable Software (US), ServiceNow (US), CloudFabrix Software Inc.(U.S) and Snow Software (Sweden)
The prominent players keep innovating and investing in research and development to present cost-effective offerings. Merger and acquisitions among various players are changing the market structure.
According to MRFR, The global Software Asset Management Market is expected to reach approximately USD 2.45 Billion by 2023 growing at a ~14.18% CAGR over the forecast period 2018–2023.
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.
On the basis of 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
The global market for software asset management is estimated to grow at a significant rate during the forecast period from 2018 to 2023. The geographical analysis of software asset management market is covered for the regions such as North America, Europe, Asia Pacific, and rest of the world. Due to technological advancements in North America, it is expected to emerge as the leading region during the forecasting period. This technological advancement has created the need to manage the lifecycle of the complex software assets. Also, owing to the presence of major player such as BMC Software (US), CA Technologies (US), Microsoft (US), Symantec (US) the market for SAM is high.
On the other hand, Asia Pacific is expected to show the highest growth in the software asset management market. The increasing commercial investment in the developing countries of APAC region have witnessed the market growth. The manufacturers in Asia Pacific are becoming more and more advanced by deploying newer technologies hence there is need for monitoring the assets of the enterprises and improve the efficiency. China, India, Japan, and South Korea are the leading countries in APAC.
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• Training and consulting service providers
• Software asset management providers
• Professional service providers
• Managed Service Providers (MSPs)
• System integrators
• Cloud platform providers
• Resellers and distributors
• Investors and venture capitalists
• Third-party software vendors
• Advisory firms
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At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
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Name: Abhishek sawant
Organization: Market Research Future
Phone: +1 646 845 9312
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