Global Software Asset Management Market 2018-2022

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Apr 04, 2018, 03:30 ET

DUBLIN, April 4, 2018 /PRNewswire/ --

The "Software Asset Management Market by Solution (License Management, Audit and Compliance Management, Software Discovery, Optimization, and Metering), Service, Deployment Type, Organization Size, Industry Vertical, and Region - Global Forecast to 2022" report has been added to ResearchAndMarkets.com's offering.

The software asset management market is expected to grow from USD 1.16 Billion in 2017 to USD 2.32 Billion by 2022, at a Compound Annual Growth Rate (CAGR) of 14.8% during the forecast period, owing to the increasing need for managing the lifecycle of assets.

The rising pressure on software vendors and users to adhere to the regulations and compliances is expected to be a major driving factor for the growth of the market.

Software asset management solutions and services deal with licensing software, monitoring software usage, and ensuring adherence to audit compliances, to give enterprises a comprehensive view of the entire software life cycle and optimize their IT spending. With the enterprises' increasing expenditure on technology, managing an array of software portfolio is getting complex. The enterprises are keen on adopting efficient software asset management tools to optimize their spending on different software.

Considering the rapid proliferation of the Bring Your Own Device (BYOD) trend in organizations, it has become necessary for the enterprises to track and monitor the usage of diverse software on different devices, such as smartphones, tablets, and laptops, to protect themselves from using unauthorized or pirated software licenses. Some of the benefits offered by the software asset management solutions and services include cost reduction, enhanced security, and reduced IT support.

The evolution of software asset management solutions has transformed the way organizations operate in the competitive business environment. The IT leaders are concerned about the increasing cost of software, and are trying to ensure audit-readiness to avoid unbudgeted penalty expenses for license non-compliance.

Software Asset Management Market

North America and Europe are expected to be the major contributors to the software asset management market in terms of revenue. This can be attributed to major factors, such as stringent laws in these regions that force organizations to comply with the regulations. Furthermore, the organizations in these regions are making huge investments in technologies, which has created the need to manage the life cycle of their complex software assets.

The APAC region is expected to be the fastest growing in the market. The increasing commercial investments in the developing countries of the APAC region is expected to benefit from the growth of the market in the coming years. The MEA and Latin American regions are expected to witness a gradual growth in terms of adopting software asset management solutions and services.

However, budget constraints and the lack of awareness among the Small and Medium-sized Enterprises (SMEs) are expected to be major restraining factors for the adoption of software asset management solutions and services.

Key Topics Covered:

1 Introduction
1.1 Objectives of the Study
1.2 Market Definition
1.3 Market Scope
1.4 Years Considered for the Study
1.5 Currency
1.6 Stakeholders

2 Research Methodology
2.1 Research Data
2.2 Market Size Estimation
2.3 Research Assumptions
2.4 Limitations

3 Executive Summary

4 Premium Insights
4.1 Attractive Market Opportunities in the Software Asset Management Market
4.2 Market By Component
4.3 Market By Deployment Type
4.4 Market By Organization Size
4.5 Market By Industry Vertical and Region

5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Increasing Need to Manage the Life Cycle of Assets
5.2.1.2 Compliance-Readiness
5.2.2 Restraints
5.2.2.1 Budget Constraints and Lack of Awareness Among SMEs
5.2.3 Opportunities
5.2.3.1 The Growing Cloud Hosting Business
5.2.3.2 Evolution of Internet of Things (IoT) and the Rapidly Growing Number of IoT Devices
5.2.4 Challenges
5.2.4.1 Lack of Transparency Among Various Departments
5.2.4.2 Presence of Complex IT Environments

6 Software Asset Management Market, By Component
6.1 Introduction
6.2 Solutions
6.2.1 License Management
6.2.2 Audit and Compliance Management
6.2.3 Software Discovery, Optimization, and Metering
6.2.4 Contract Management
6.2.5 Configuration Management
6.2.6 Others
6.3 Services
6.3.1 Professional Services
6.3.1.1 Consulting
6.3.1.2 Support and Training
6.3.1.3 Deployment and Integration
6.3.2 Managed Services

7 Software Asset Management Market, By Deployment Type
7.1 Introduction
7.2 Cloud
7.3 On-Premises

8 Market By Organization Size
8.1 Introduction
8.2 Small and Medium-Sized Enterprises
8.3 Large Enterprises

9 Market By Industry Vertical
9.1 Introduction
9.2 Banking, Financial Services, and Insurance
9.3 IT and Telecom
9.4 Manufacturing
9.5 Retail and Consumer Goods
9.6 Government
9.7 Healthcare and Life Sciences
9.8 Education
9.9 Media and Entertainment
9.10 Others

10 Software Asset Management Market, By Region

11 Competitive Landscape
11.1 Overview
11.2 Market Ranking
11.3 Competitive Scenario
11.3.1 New Product and Service Launches/Product Upgradations
11.3.2 Business Expansions
11.3.3 Mergers and Acquisitions
11.3.4 Partnerships and Collaborations

12 Company Profiles
12.1 Introduction
12.2 Snow Software
12.3 Flexera
12.4 BMC Software
12.5 Ivanti
12.6 Certero
12.7 Servicenow
12.8 Aspera Technologies
12.9 Cherwell Software
12.10 Scalable Software
12.11 CA Technologies
12.12 Symantec
12.13 IBM
12.14 Micro Focus
12.15 Microsoft

For more information about this report visit https://www.researchandmarkets.com/research/sgjfpm/global_software?w=5

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SOURCE Research and Markets