License Management Market | Emerging Research
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.
Due to the significant volatility of raw material prices and declining profitability, businesses are focusing on reducing their operating costs. They are looking for license management software as a result to reduce costs, maximize software usage, and avoid any loss caused by license non-compliance. An additional benefit of license management is that it helps businesses control all of their contracts, agreements, license rights, and software inventory from one place. The many advantages of managed licensing are another factor contributing to its increasing popularity. For example, it helps businesses organize and save software agreements effectively and securely.
As a result, businesses can protect themselves from unexpected license payments and fines. By minimizing fines for non-compliance, reducing renewal fees, and providing significant savings, license management has also allowed businesses to lower the cost of purchasing software.
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Rapid adoption of cloud-based solutions is another significant driver fueling market revenue growth. In order to remain competitive in the global market, businesses view cloud computing as an important element of their information technology strategy. Businesses can profit from low-cost, scalable, and adaptable cloud computing technology solutions. In addition, developments in cloud computing have made it possible for companies to take advantage of the business prospects of cloud hosting.
The main objective of the report is to offer an overview of the market, product scope, growth prospects, and risks. The report also offers in-depth information about each player in the global License Management market including its global status, financial status, product launches, business expansion plans among others. Market players are committed to developing various strategies such as partnerships, mergers and acquisitions, joint ventures, product launches, and investments in research and development.
Companies profiled in the global License Management market:
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
Key Highlights From the Report.
In 2021, the cloud segment will contribute significantly to revenue. The rapid adoption of technologies such as big data, machine learning (ML), and others in various sectors is an important element fueling the segment’s revenue growth. Unprocessed data is tracked, analyzed, and visualized using these technologies. Integrating these technologies with cloud-based solutions also helps businesses significantly by enhancing their visualization skills and increasing the usability and accessibility of complex data. Cloud-based software also simplifies data storage and improves data usage. This has greatly increased business productivity, improved decision making, and reduced operating costs.
In 2021, the audit services market contributed a major share of the total revenue. One of the major factors driving the market revenue growth in this sector is the growing awareness of the various benefits of audit management software. Companies can, for example, speed up their audit procedures while still complying with rules or internal guidelines by using audit software. Furthermore, this type of software supports the definition, use, and administration of audit processes for a range of purposes, including quality management, health, and environmental protection.
In 2021, the banking and financial services segment contributed a major share of revenue. The market in the area is expanding in terms of revenue due to factors including increasing instances of financial fraud and the rapid implementation of AI-based banking systems. The banking sector has seen massive changes as a result of technologies such as big data, AI, cloud computing, and others. They support the provision of security measures to banks and other financial institutions as well as the growth of visualization capabilities.
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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
The others
Industry Outlook (Revenue, USD Million; 2019-2030)
Information Technology
Banking and Financial Services
Taking care of your health
Media and Entertainment
The others
License Management Market Segmentation by Regions:
North America (US, Canada)
Europe (UK, Italy, Germany, France, Rest of EU)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East and Africa (Saudi Arabia, UAE, South Africa, Rest of MEA)
Objectives of the Report:
Global License Management market size study by key regions, types and applications with reference to historical data (2019-2020) and forecast (2022-2030)
Analysis of the industrial structure of the License Management market by identifying various sub-segments
Extensive analysis of key players in the market along with their SWOT analysis
Competitive landscape bench marking
License Management market analysis based on growth trends, futuristic outlook, and contribution to overall market growth
Analysis of drivers, restraints, opportunities, challenges, and risks in the global License Management market
Comprehensive analysis of competitive developments such as expansions, agreements, new product launches, and other strategic alliances
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