DUBLIN, March 31, 2022 / PRNewswire/ -The “Global Software Asset Management Market By Share, By Deployment Type, By Enterprise Size, By End User, By Regional Perspective, Industry Analysis and Forecast Report, 2021 – 2027 “was added to ResearchAndMarkets.com’s alay.
The size of the Global Software Asset Management Market is expected to reach $ 5,370.4 Million by 2027, rising to a market growth of 17.3% CAGR during the forecast period.
Software asset management (SAM) refers to the business mechanism, which involves handling and optimizing various aspects such as purchasing, using, maintaining, deploying, and scraping software applications in a company. By adopting SAM, companies aim to reduce information technology (IT) costs and business and legal issues regarding software ownership and use while simultaneously increasing IT responsiveness and being end-user productivity.
Software asset management is a constant and evolving way in which companies manage their licenses and other software assets. This requires the integration of all employees of every level of the company, from the executive management team to every end-user.
Asset management software facilitates control and accountability for expenditure and standards through management and user approval procedures that are expected to lead to top-class practice at the acquisition stage. It also allows responsibility and control for the retirement of IT/software assets maintained for financial and physical purposes.
By using SAM tools, companies can also ensure that there is no over -purchasing and over -licensing. At the same time, it also lays the foundation for selecting the most appropriate license types, developing maximum flexibility based on current and future needs, and reducing the risk of cost -focused surprises.
Impact Analysis of COVID-19
The outbreak of the COVID-19 pandemic has disrupted all aspects and sections of life and society including businesses. In the current scenario, widespread communication is possible due to the internet and therefore, plays an important role in the management and operation of businesses. The pandemic provided a great opportunity for businesses to go digital.
In addition, consumer demand has consequently dropped as customers are gradually reducing unimportant spending from their budgets because the normal economic status of most people has been severely affected by the pandemic. As a result, demand for Solutions is expected to decrease.
Market Growth Factors:
The increasing demand for management and optimization of software application activities in companies
Software is one of the essential components of various business processes and the management of certain types of software is also becoming an integral part of business strategies as companies are increasingly spending on building an advanced IT infrastructure. . There is increasing demand for asset management software solutions among businesses to manage and optimize their IT assets to stay updated in the rapidly changing landscape.
High utilization of cloud-based solutions
With high internet penetration and growing digitalization around the world, companies are widely using and allocating their budget to advanced solutions to build a strong IT infrastructure. The popularity of cloud-based asset management software is growing in the market because they offer a wide range of benefits including scalability, flexibility, and low cost. This is expected to further create lucrative opportunities for major market players.
Marketing Restriction Factors:
The budget of SMEs is limited along with the lack of knowledge among them
There is a high number of SMEs that exist around the world, which greatly contributes to the world economy. These SMEs generally have limited budgets for their business operations, which encourages them to use a variety of advanced technologies, software, or solutions. In addition, SMEs find it difficult to understand ROI from software asset management solutions and services compared to large enterprises, because the complications of managing a wide range of software on some devices are more prevalent in large enterprises than in SMEs.
Part Outlook
The software asset management market is classified into solutions (license management, audit and compliance management, software discovery, optimization, and measurement, contract management, configuration management, etc.) and services (managed services and professional services). The solution segment is estimated to gain the highest market share during the forecast period.
Deployment Outlook Type
The asset management software market is divided into on-premises and cloud. The on-premises deployment model is estimated to gain the highest market share during the forecast period. This is because companies in different regions are moving to the cloud to bring digital change at speed.
Enterprise Outlook size
The asset management software market is split into large enterprises and SMEs. The SMEs segment is expected to witness a significant growth rate in the market during the forecast period. These businesses are expected to face some challenges due to their constrained budgets and are expected to need more efficient ways to solve complications for cost optimization improvements of their business procedures.
End-User Outlook
The asset management software market is divided into education, BFSI, healthcare, IT and telecom, manufacturing, government, retail and eCommerce, and more. The manufacturing segment is expected to capture the largest share of market revenue during the forecast period.
Regional Perspective
The asset management software market is analyzed as a whole North America, Europe, Asia-Pacificand LAMEA. North America is expected to gain the largest share in the asset management software market during the forecast period. Europe is estimated to capture the second largest market share during the forecast period followed by North America.
Key Topics Covered:
Chapter 1. Market Scope and Procedure
Chapter 2. Market Overview
2.1 Introduction
2.1.1 Overview
2.1.1.1 Market Composition and Situation
2.2 Major Factors Affecting the Market
2.2.1 Market Drivers
2.2.2 Market Restrictions
Chapter 3. Competition Analysis – Global
3.1 Cardinal Matrix
3.2 Recent Industry-Broad Strategic Developments
3.2.1 Partnerships, Partnerships and Agreements
3.2.2 Product Launch and Product Expansion
3.2.3 Acquisition and Integration
3.2.4 Geographical Expansion:
3.3 Top Winning Strategies
3.3.1 Key Leadership Strategies: Percentage Distribution (2017-2021)
3.3.2 Key Strategic Actions: (Partnerships, Collaborations, and Agreements: 2017, Jun – 2021, Jun) Top Players
Chapter 4. Global Software Asset Management Market by Part
4.1 Global Solution Market by Region
4.2 Global Solution Market by Type
4.2.1 Global License Management Market by Region
4.2.2 Global Contract Management Market by Region
4.2.3 Global Audit and Compliance Management Market by Region
4.2.4 Global Software Discovery, Optimization, and Market Metering by Region
4.2.5 Global Configuration Management Market by Region
4.2.6 Global Other Types of Solutions Market by Region
4.3 Global Services Market by Region
Chapter 5. Global Software Asset Management Market by Deployment Type
5.1 Global On-premise Market by Region
5.2 Global Cloud Market by Region
Chapter 6. Global Software Asset Management Market by Enterprise Size
6.1 Global Large Enterprises Market by Region
6.2 Global Small & Medium Enterprises Market by Region
Chapter 7. Global Software Asset Management Market of the End User
7.1 Global Manufacturing Market by Region
7.2 Global BFSI Market by Region
7.3 Global IT & Telecom Market by Region
7.4 Global Healthcare Market by Region
7.5 Global Retail and Ecommerce Market by Region
7.6 Global Government Market by Region
7.7 Global Others Market by Region
Chapter 8. Global Software Asset Management Market by Region
Chapter 9. Company Profiles
9.1 USU Software AG
9.1.1 Company Overview
9.1.2 Financial Analysis
9.1.3 Segmental and Regional Analysis
9.1.4 Research and Development Costs
9.1.5 Recent strategies and developments:
9.1.5.1 Partnerships, Partnerships, and Agreements:
9.1.5.2 Product Launches and Product Expansion:
9.1.5.3 Geographical Extensions:
9.2 Certero
9.2.1 Company Overview
9.2.2 Recent strategies and developments:
9.2.2.1 Partnerships, Partnerships, and Agreements:
9.2.2.2 Product Launches and Product Expansion:
9.3 Matrix42 AG (Corten Capital)
9.3.1 Company Overview
9.3.2 Recent strategies and developments:
9.3.2.1 Partnerships, Partnerships, and Agreements:
9.3.2.2 Acquisition and Integration:
9.4 Eracent
9.4.1 Company Overview
9.4.2 Recent strategies and developments:
9.4.2.1 Partnerships, Partnerships, and Agreements:
9.4.2.2 Product Launches and Product Expansion:
9.5 Scalable Software
9.5.1 Company Overview
9.8 ServiceNow, Inc.
9.8.1 Company Overview
9.8.2 Financial Analysis
9.8.3 Regional Analysis
9.8.4 Research and Development Costs
9.8.5 Recent strategies and developments:
9.8.5.1 Product Launches and Product Expansion:
9.8.5.2 Acquisition and Integration:
9.9 Broadcom, Inc.
9.9.1 Company Overview
9.9.2 Financial Analysis
9.9.3 Segmental and Regional Analysis
9.9.4 Research and Development Costs
9.9.5 Recent strategies and developments:
9.9.5.1 Partnerships, Partnerships, and Agreements:
9.9.5.2 Acquisition and Integration:
9.10 BMC Software, Inc. (KKR & Co., Inc.)
9.10.1 Company Overview
9.10.2 Financial Analysis
9.10.3 Recent strategies and developments:
9.10.3.1 Partnerships, Partnerships, and Agreements:
9.10.3.2 Acquisition and Integration:
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