“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).”
Software Asset Management Market by Component, Deployment Model (On-premises, Cloud), Organization Size (Large Enterprises, SMEs), Vertical, and Region (North America, Europe, APAC, MEA, and Latin America) – Global Forecast to 2026
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 application within the business, and lower software spend costs. These factors drive the need for asset management software.
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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 a software asset management environment 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.
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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 the cloud model deployment 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 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.
Players in this market have embraced various strategies to expand their global presence and increase their market shares. New product launches and enhancements, partnerships, mergers, and acquisitions, were the most dominant strategies adopted by major players from 2019 to 2021, which helped them strengthen their offerings and expand their customer base .
Snow Software is an intelligence technology solutions company. It offers software asset management, Software-as-a-Service (SaaS) management, asset discovery and inventory, cloud automation and orchestration, as well as audit defense solutions. The company aims to help organizations understand and manage their use of technology. It is one of the leading providers of on-premise and cloud-based software asset management solutions worldwide. Snow Software offers software recognition and normalization for over 700,000+ applications so organizations can easily get the insights they need from leading IT spender vendors including Oracle, IBM, Microsoft, VMware, SAP, Micro Focus, and Citrix. Snow Software has a global footprint, with offices in Europe, North America, Latin America, and APAC.
USU Software AG is one of the leading providers of intelligent software and services for IT and customer service management and a holding company for various subsidiaries that operate as international software and service companies. In January 2021, the USU Group announced that it would consolidate all of its subsidiaries under the common USU umbrella brand. As part of the new branding, the leader in software asset management solutions, Aspera GmbH, now operates exclusively under the brand name USU. Aspera software asset management solutions are now complemented by USU Software AGs integrated solution portfolio, featuring innovative digital-first AI and cloud technologies.
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