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Healthcare and life sciences are among the fastest growing verticals with respect to the use of advanced technologies and services in terms of the license management market. Healthcare institutions that use these solutions for the activities of operation and management of medical equipment must comply with regulations in accordance with the laws of the governing bodies.
License Management Market Overview
The global license management market is worth USD 977 million in 2021, and is expected to reach USD 1,723.6 million in 2027, registering a CAGR of 10.07% during 2022-2027. License management is a great tool used by an organization to document and manage its software licenses to ensure compliance with the developer’s software license. License management allows companies to control all agreements, contracts, license rights, and software inventory from one centralized location. The Business Software Alliance (BSA) is a global industry organization whose mission is to promote the legal use of software and enforce compliance in businesses. To fulfill this duty, the BSA regularly conducts court-ordered audits on organizations to ensure they comply with all software licenses, be it small mom-and-pop shops, large businesses, academic institution, or government agency.
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License Management Market-Geography Overview
Most of the leading suppliers in the License Management Software market are headquartered in the United States-Agilis Software, IBM, Micro Focus, Oracle, to name a few. In 2021, after listening to its 55,000+ user base, MyMediabox launched a range of additions to its licensing management software to offer users new productivity tools to assist with the licensing process. Mediabox-GD (Global Dashboard) is enhanced with graphically oriented key performance indicators (KPIs), business intelligence trends, and seamless access to all Mediabox services for licensors who track countless partnerships and consumer products.
Main Highlights of North American License Management Market
- Site24x7 surveyed 613 IT professionals on a variety of topics, organizational sizes, and geographies in their State of IT Management Survey Report 2020 – 2021. In North America, 41% of respondents use internal software for maintain various organizational software licenses, followed by third-party license management software.
- Over four years, a report on the cost of unused software collected data from 3.6 million users at 129 companies in the United States and the United Kingdom. The researchers found that 37 % of all installed software is unused, costing USD 259 per desktop and more than USD 37 billion in total wasted IT spend.
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Recent Developments in the License Management Market
- In March 2022, GEFA BANK, a financing partner for German SMEs and a subsidiary of Société Générale, selected DXC Technology for a digital transformation project. Using the “G-Rocket” program, GEFA BANK and DXC Technology will move applications and data critical to the bank’s mission from its current data center to Microsoft’s Azure cloud platform. With the move to the Azure cloud, GEFA BANK and DXC will systematically deploy the bank’s application landscape to cloud-native services such as Azure Kubernetes Service (AKS).
- In February 2022, Thales partnered with Lantronix Inc. and Taoglas to develop and deliver application-specific industrial IoT solutions for connecting data-dependent vertical industries, including the Industrial 4.0, Security, and Transport markets.
Related Research and Links
List of Key Players in the License Management Market
- USU Software AG
- Cherwell Software LLC
- DXC Technology Co
- Flexera Software LLC
- Reprise Software Inc.
- Snow Software AB
- Oracle Corporation
- IBM Corporation
- Thales Group
- ServiceNow Inc.
*Incomplete List
Mordor Intelligence divides the global license management market based on component, deployment, application, vertical end-user, and geography:
- Share (Market Size and Forecast based on Revenue (USD million), 2020-2027)
- Deployment (Market Size and Forecast based on Revenue (USD million), 2020-2027)
- Application (Market Size and Forecast based on Revenue (USD million), 2020-2027)
- Audit Services
- Advisory Services
- Compliance Management
- License Eligibility and Optimization
- Operations and Analytics
- The others
- End-user Vertical (Market Size and Forecast based on Revenue (USD million), 2020-2027)
- BFSI
- Healthcare and Life Sciences
- IT and Telecommunications
- Media and Entertainment
- Other End-user Vertical
- Geography (Market Size and Forecast based on Revenue (USD million), 2020-2027)
- North America
- Asia-Pacific
- Europe
- Latin America
- Middle East and Africa
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