Japan, Japan, Mar, 22 Mar 2022 06:20:45 / Comserve Inc. / – IT Asset Management Market size, share, growth, trend, segmentation, leading players, strategy, demand, statistics, competitive landscape and forecast.
Market Overview
The IT Asset Management market is worth USD 1091.76 million in 2019 and is expected to reach USD 2086.59 million in 2025, at a CAGR of 11.4% during the forecast period. The increasing implementation of advanced technology and interconnected infrastructure has driven organizations across the industry to adopt asset management systems that help manage operational technologies, to gather more valuable data and information.
– The expansion of interconnected IT infrastructure is driving market growth. Technologies are becoming converged, for example, micro data center instead of a data center, virtual machine instead of an actual desktop, cloud instead of data storage device. To improve the bottom line and plan against financial, operational and legal risks, it is necessary for companies to track all of their assets from different locations.
– However, the lack of skilled personnel is the factor hindering the growth of the market. In a report titled ‘The Future of Jobs 2018’, the World Economic Forum (WEF) said that approximately 54% of the global workforce needs to be re-skilled or up-skilled to work with disruptive and digital technologies. yields a virtual world.
Report Scope
IT Assets can be categorized as hardware or software to deploy through on-premise or cloud. Their management is important because it helps a company control its assets using a systematic approach. It keeps the company information about the stock out/over-stocking of any assets. It is used in almost all industries like IT, BFSI, Healthcare, Retail and Government.
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Major Market Trends
Cloud Deployment to Dominate the Market
– Asset management becomes easier due to developments in the cloud. This demonstrates tremendous potential to add value and help companies reduce costs and improve operational efficiency.
– With the introduction of SaaS applications, the options for reducing the total cost of ownership have increased dramatically. Cloud enables shorter execution schedules, transition from CAPEX to OPEX and decentralized control.
– VMware CEO pointed out three laws that will make the case for the hybrid cloud future: economics, physics and data sovereignty.
– In May 2019, Cherwell Software announced that its Information Technology Service Management (ITSM) solution Cherwell Service Management will be available on Amazon Web Services (AWS) to deliver unified services and management for hybrid clouds environment. So companies are starting to use hybrid cloud for resource pooling and elastciity about scaling services.
Asia-Pacific to Witness Highest Growth
– Countries in the APAC region are thriving when it comes to IT asset management. For example, the Australian Government’s National Innovation & Science Agenda promotes the acquisition of new ideas in innovation and science.
– Demand for system integration services is rising in New Zealand. New Zealand businesses are increasingly relying on systems integrators as they step up efforts to modernize existing applications and move to the cloud.
– Tech Mahindra delivered three major Maximo Cloud Implementations to APAC in 2018 on IBM SaaS, Azure and AWS. The company believes that customers prefer the hosted solution as the next best option in the on-premise solution.
Competitive Landscape
The market for IT asset management is divided into many new players entering the market. This is because each industry is transferring their control and management of IT assets to another vendor due to lack of time and resources in own company.
– April 2019 – Cherwell Software announces enhancements to its Information Technology Service Management (ITSM) solution Cherwell® Service Management. The company’s new release adds features to make it faster and easier where IT leaders, enterprise architects, business unit leaders, and transformation agents in all organizations can provide services that transform business and work experiences.
– April 2019 – Ivanti integrates Ivanti Service Manager and Ivanti Asset Manager into a single cloud -optimized management platform. Together, these solutions deliver complete asset lifecycle optimization using workflow automation and advanced service management that empowers IT teams to deliver efficient, compliant and secure service delivery to users from anywhere.
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1. INTRODUCTION
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Introduction to Drivers and Market Control
4.3 Market Drivers
4.3.1 Expansion of Interconnected IT Infrastructure Drives Market Growth
4.4 Market Restrictions
4.4.1 Lack of Trained Personnel Can Pose a Challenge for the Market
4.5 Value Chain Analysis
4.6 Attractive Industry – Analysis of Porter’s Five Forces
4.6.1 Threats of New Entrants
4.6.2 Bargaining Power of Consumers
4.6.3 Bargaining Power of Suppliers
4.6.4 Threats of Alternative Products
4.6.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
5.1 By Type
5.1.1 Hardware
5.1.2 Software
5.2 By Type of Deployment
5.2.1 Clouds
5.2.2 On Premises
5.3 According to Enterprise Size
5.3.1 Small and Medium
5.3.2 Large
5.4 By Industry End-user
5.4.1 IT and Telecom
5.4.2 BFSI
5.4.3 Health care
5.4.4 Retail
5.4.5 Labor
5.4.6 Government
5.4.7 Other End-user Industries
5.5 Geography
5.5.1 North America
5.5.2 Europe
5.5.3 Asia-Pacific
5.5.4 Latin America
5.5.5 Middle East and Africa
6 COMPETITIVE AND LANDSCAPE
6.1 Company Profiles
6.1.1 Dell Inc.
6.1.2 Microsoft Corporation
6.1.3 IBM Corporation
6.1.4 BMC Software Inc.
6.1.5 HP Inc.
6.1.6 ServiceNow Inc.
6.1.7 Oracle Corp
6.1.8 Flexera Software LLC
6.1.9 Ivanti (formerly LANDESK)
6.1.10 Aspera Technologies Inc.
6.1.11 Cherwell Software. LLC
6.1.12 Broadcom (CA Technology Inc., Symantec Corporation)
6.1.13 Snow Software AB
6.1.14 Freshworks Inc
7 INVESTMENT ANALYSIS
8 MARKET OPPORTUNITIES AND FUTURE TRENDS
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