“Emergent Research | License Management Market”
Increasing features of license management software that help end-use industries in optimizing their business operations is a major factor in driving license management revenue growth.
The global license management market size will reach USD 1,019.0 Million in 2021 and is expected to register a revenue CAGR of 11.5% during the forecast period, according to a latest analysis by Emergen Research. Companies are focusing on lowering their operating costs as a result of high volatility in raw material prices and lower profitability. As a result, they are looking for license management software to reduce costs, optimize software usage, and avoid any loss due to license non-compliance.
In addition, license management allows companies to manage all of their contracts, agreements, license rights, and software inventory from one location. The growing need for license management can also be attributed to its many benefits. For example, it helps companies efficiently organize and store software agreements in a secure location. As a result, companies can protect themselves against unexpected license fees and penalties. License management has also enabled companies to reduce software acquisition costs by avoiding penalties for non-compliance, lowering renewal fees, and offering large discount.
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Another important factor driving the market’s revenue growth is the rapid adoption of cloud-based solutions. Companies are considering cloud computing as an important part of their information technology strategy to stay competitive in the global market. Cloud computing technology provides businesses with benefits such as low-cost, scalable, and flexible solutions. In addition, advances in cloud computing have enabled businesses to capitalize on cloud hosting business opportunities. This created opportunities for the hosting license management team to capitalize on the commercial opportunities of the cloud hosting business.
Key Highlights From the Report
The cloud segment accounts for a large share of revenue in 2021. The rapid adoption of technologies such as big data, Machine Learning (ML), and others in various industries is a major factor driving the segment’s revenue growth . These technologies are used to monitor, analyze, and visualize raw data. In addition, the integration of these technologies with cloud-based solutions significantly helps companies in improving their visualization capabilities as well as making complex data easier to access and use. Cloud-based software has also empowered data usage and reduced data storage complications. This has significantly boosted business productivity, improved decision-making processes, and lowered operating costs.
The audit services segment accounted for the major revenue share in 2021. Increasing awareness about the various benefits of audit management software is a major factor driving the revenue growth of the market in the segment. For example, audit software allows companies to streamline their audit processes while also complying with regulations or internal policies.
In addition, this type of software assists in the definition, implementation, and monitoring of audit procedures for various purposes, including quality management, health, and environmental protection. Integrating emerging technologies such as Artificial Intelligence (AI) and others with audit management software, which helps generate quality reports and maintains accuracy during the audit , can also be attributed to the increased demand for license management audit services.
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The report reports that the market is expected to grow at a significant rate due to the rapid development and technological advancement in the sector. The report offers strategic recommendations to businesses and investors to capitalize on lucrative growth opportunities. The report further provides a comprehensive analysis of the competitive landscape and provides complete coverage regarding company profiles, product portfolio, revenue generation, financial status, and market position.
It also covers mergers and acquisitions, joint ventures, product launches, brand promotions, collaborations, agreements, and partnerships, among others. It also offers insights into manufacturing processes, revenue estimates, R&D advancements, and industry penetration.
Emergen Research has segmented the global license management market based on deployment mode, application, industry, and region:
Deployment Mode Outlook (Revenue, USD Million; 2019-2030)
In Precinct
Cloud
Outlook Application Area (Revenue, USD Million; 2019-2030)
Audit Services
Advisory Services
Compliance Management
Operations and Analytics
Software Inventory Management
Different
Industry Outlook (Revenue, USD Million; 2019-2030)
Information Technology
Banking and Financial Services
Taking care of your health
Media and Entertainment
Different
Competitive Terrain:
The Global License Management Market is highly consolidated due to the presence of a large number of companies across this industry. The report discusses the current market status of these companies, their past performances, demand and supply graphs, production and consumption patterns, sales network, distribution channels, and market growth opportunities in length The report examines the strategic approach of key market players towards expanding their product offerings and strengthening their market foothold.
Some key companies in the global market report include Oracle Corporation, DXC Technology Company, IBM Corporation, Ivanti, Flexera Software LLC, Thales Cloud Security, ServiceNow, Inc., Snow Software, Inc., Labs64 Netlicensing, Reprise Software, TeamEDA Inc., and Persistent Security, LLC
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The report also offers regional-level analysis and market estimates for the regions: North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
Regional Outlook of the License Management Market:
North America
US
Canada
Mexico
Europe
Germany
UK
Italy
France
BENELUX
Other parts of Europe
Asia-Pacific
China
India
Japanese
South Korea
Other parts of APAC
Latin America
Brazil
Remaining in LATAM
Middle East and Africa
Saudi Arabia
U.A.E
South Africa
Remaining in MEA
Key summary points of the report:
The report offers a comprehensive overview of the market size, share, and growth rate over the forecast period.
It provides details about the current scenario, historical data, which provides accurate market forecast for the coming years.
The study categorizes the market based on product types, applications, end users, market value and volume, business verticals, and 5 major regions.
It also offers regional market analysis and forecasting for prominent geographies in the sector viz., North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
Industry supply chain, sourcing strategy, upstream feedstock, and downstream demand analysis are also carried out in the research report.
The study offers a comprehensive understanding of demand and supply dynamics, including production and consumption rates, and mapping of the overall market.
The report uses various analytical tools including, SWOT analysis, Porter’s five forces analysis, and pricing analysis, to provide accurate market information.
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About us:
At Emergen Research, we believe in advancing with technology. We are a growing market research and strategy consulting firm with a complete knowledge base of innovative and potentially disruptive market technologies predicted to become more prevalent in the coming decade.
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