Software Asset Management Market
According to MarketsandMarkets. the global Software Asset Management Market size is expected to grow at a Compound Annual Growth Rate (CAGR) of 18.1% during the forecast period, reaching USD 4.8 billion in 2026 from USD 2.0 billion in 2021. Key factors expected to drive the market growth is the increasing need to manage audits and meet regulatory compliance standards, growing need to manage and optimize the purchase, deployment, maintenance, use, and disposal of software applications within the business, and lower software spending costs. These factors drive the need for asset management software.
Download the PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=235932482
Browse in-depth TOC on “Software Asset Management Market”
464- Tables
69- Figures
359- Pages
The software asset management market consists of major providers, such as Snow Software (Sweden), Flexera (US), USU Software AG (Germany), Ivanti (US), BMC Software (US), ServiceNow (US), Certero ( UK), Matrix42 (Germany), Broadcom (US), Eracent (US), Scalable Software (US), Belarc (US), IBM (US), Micro Focus (UK), Microsoft (US), ManageEngine (US), Xensam (Sweden ), InvGate (Argentina), Symphony SummitAI (US), 1E (UK), Open iT (US), Lansweeper (Belgium), and License Dashboard (UK). The study includes an in-depth competitive analysis of key players in the asset management software market with their company profiles, recent developments, COVID-19 developments, and key strategies in the market.
Browse the Full Report @ https://www.marketsandmarkets.com/Market-Reports/software-asset-management-market-235932482.html
Services segment to have larger market size during the forecast period
Based on services, the asset management software market is divided into two categories: professional and managed services. These services help build, assess, and deploy software asset management environments to avoid wasting time and effort on a failed implementation. These services help optimize software licensing costs, IT assets, and ensure compliance standards by managing audits. Businesses need proactive support from skilled professionals to minimize their software asset downtime during pre- and post-installation of software asset management solutions. These services provide the necessary support to maintain the efficiency of business processes, increase business growth, and reduce unwanted IT expenses.
The SMEs segment will grow at the highest CAGR during the forecast period
SMEs are defined as organizations with an employee strength from 1 to 1,000. These businesses face greater challenges of a limited budget compared to large businesses and need better methods to solve the complexities for improving the cost optimization of their business processes. However, the SMEs segment is expected to grow at a higher CAGR during the forecast period. Due to limited budgets, SMEs prefer cloud-based solutions over on-premises solutions, and this adoption trend is expected to accelerate in the coming years, enabling cloud deployment model to have a large market size during the forecast period. SMEs use software asset management solutions for license management, software discovery, optimization, and measurement. These factors are also expected to encourage more SMEs to adopt software asset management solutions and services at a rapid pace. This segment has great potential and will continue to grow in the software asset management market in the coming years.
The healthcare and life sciences industry is poised to grow at the highest CAGR during the forecast period
Healthcare and life sciences is one of the fastest growing verticals with respect to the adoption of advanced technologies and services in terms of software asset management market. It is in fact, a highly controlled one. Software asset management solutions can help healthcare organizations, hospitals, and clinics track, monitor, and manage their software assets to improve efficiency. Healthcare institutions that use software asset management solutions for operational activities and management of medical devices need to comply with regulations according to the laws of the governing bodies. In recent years, there has been an increasing focus on the healthcare and life sciences industries in the regions. The risk associated with selecting and managing appropriate software is paramount in this industry vertical. Strict laws governing the healthcare and life industry vertical are encouraging healthcare companies to adopt effective software asset management solutions and related services.
Request Sample Pages @ https://www.marketsandmarkets.com/requestsampleNew.asp?id=235932482
North America to account for the highest market share during the forecast period
The asset management software market is segmented into five regions: North America, Europe, APAC, MEA, and Latin America. The asset management software report provides insights into these regional markets in terms of market size, growth rates, future trends, market drivers, and impact on COVID-19. North America is expected to hold the highest market share in the overall asset management software market during the forecast period. Following North America, Europe is expected to hold the second highest market share during the forecast period. The high need to optimize software licensing cost and manage audits to meet compliance standards is expected to drive the North American and European markets. APAC and MEA are also expected to witness high growth rates during the forecast period.
Please contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: [email protected]
Visit Our Website: https://www.marketsandmarkets.com
Content Source: https://www.marketsandmarkets.com/PressReleases/software-asset-management.asp
About MarketsandMarkets™
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats that impact 70% to 80% of revenues worldwide. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Nearly 75,000 top executives in eight industries worldwide turn to MarketsandMarkets™ for their pain points regarding revenue decisions.
Our 850 fulltime analysts and SMEs at MarketsandMarkets™ track global high growth markets following the “Growth Engagement Model – GEM”. GEM aims at active collaboration with clients to identify new opportunities, identify the most important customers, write “Attack, avoid and defend” strategies, identify sources of incremental revenue for the company and competitors this. MarketsandMarkets™ will now release 1,500 MicroQuadrants (Positioning top players among leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them bring their innovations/disruptions early to market by providing them with early research.
MarketsandMarkets’ flagship competitive intelligence and market research platform, the “Knowledge Store” connects over 200,000 markets and the entire value chain for a deeper understanding of untapped insights along with market sizing and forecasting. niche market.
This release has been published on openPR.