The software asset management market will reach USD 5.4 billion in 2027. The software asset management market is valued at approximately USD 1.7 billion in 2020 and is expected to grow with a healthy growth rate of approximately 18.1% during forecast 2021-2027.
Software asset management refers to a business practice that includes managing and optimizing the deployment, maintenance, purchase, use, and disposal of software applications within an organization. Software asset management can deliver a range of functions within an organization, depending on their IT infrastructure, software portfolios, business objectives and resource availability. The global asset management software market is driven by simpler management and lower software costs and rising needs to manage audits and meet regulatory compliance standards. Furthermore, the evolution of the IoT and the rapidly growing number of IoT devices will provide new opportunities for the global asset management software industry.
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IoT -enabled asset management uses sensors that empower organizations to know information about their assets, eliminating the need for human effort. Therefore, with the growth of IoT -connected devices, the need for software asset management is likely to increase. According to Statista, the total installed base of IoT active device connections worldwide is expected to increase from 10 billion in 2019 and is expected to reach 30.9 billion units by 2025. Thus, this is expected to fuel mart developments. and therefore it is expected to boost market growth. However, budget constraints and lack of awareness among SMEs may hinder market growth during the forecast period of 2021-2027.
Regional analysis of the global asset management software market is considered for major regions such as Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America will account for the largest share in terms of market revenue in the global asset management software market during the forecast period 2021-2027. Factors such as increasing need to optimize software licensing cost, manage audits to meet compliance standards, presence of most major market players, etc. contributes towards the largest market share of the region in the forecast years.
A release on June 8, 2021, by the Bureau and Economic Analysis and US Census Bureau reports the recovery of the US market. The report also described the recovery of U.S. International Trade in July 2021. In April 2021, the country’s exports reached $ 300 billion, an increase of $ 13.4 billion. In April 2021, imports reached $ 294.5 billion, up $ 17.4 billion. COVID19 is still a significant issue for economies around the world, evidenced by the year-on-year decline in U.S. exports between April 2020 and April 2021 and the increase in imports in the same period. of time. The market is clearly trying to recover. Despite this, this means that there will be a direct impact on the Healthcare/ICT/Chemical industries, resulting in a huge market for Asset Management Software Market
The major market players included in this report are:
Snow Software
Flexera
USU Software AG
Ivanti
BMC Software
Service Today
Certero
Matrix42
Broadcom
Eracent
The aim of the study is to identify the market sizes of different segments and countries in recent years and to predict the values in the coming eight years. The report is designed to include both qualitative and quantitative aspects of the industry within each region and country involved in the study. Moreover, the report also provides detailed information on important aspects such as driving factors and challenges that will determine the future growth of the market. Additionally, the report should also include the opportunities available in micro markets for stakeholders to invest along with a detailed analysis of the competitive landscape and product offerings of key players.
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The detailed market segments and sub-segments are explained below:
By Part:
Solutions
Services
By Deployment Model:
In place
Clouds
By Organization Size:
Big Business
SMEs
By Vertical:
BFSI
IT and ITeS
Telecom
Working
Retail and eCommerce
Government
Healthcare and Life Sciences
Education
Media and Entertainment
The others
By Region:
North America
US
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia-Pacific
China
India
Japanese
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Other parts of the World
Furthermore, the years considered for the study are as follows:
Historical years – 2018, 2019
Base year – 2020
Forecast period – 2021 to 2027.
Target Audience of Global Software Asset Management Market Market Study:
Leading Companies and Consulting Consultants
Large, medium -sized, and small businesses
Venture capital
Value-Added Resellers (VARs)
Third-party information providers
Investment bankers.
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What is the purpose of the report?
Based on various indicators, Year-on-Year growth (%) and compound annual growth rate (CAGR) for the given forecast period are offered.
A Market overview based on geographical scope, market segmentation and financial performance of major players is presented in the report.
The report shows current industry trends and future Market coverage in North America, Asia Pacific, Europe, Latin America and the Middle East and Africa.
Various parameters that accelerate Market growth are included in the research report.
The report examines the growth rate, market size and Market appreciation during the forecast period.
What aspects about the regional analysis market are included in this report?
The geographical regions covered by the report include North America, Europe, Asia Pacific, Latin America and the Middle East and Africa regions.
The report consists of a detailed region-wise analysis of current and future market trends, providing information on product usage and consumption.
The market growth rate in each region, including their countries during the forecast period is included in the market report.
Based on what factors have the major market players analyzed in this report?
The report offers a detailed analysis of the leading companies in the market worldwide.
It provides details of the major vendors involved in the Market along with Key Players
A comprehensive overview of each company including company profile, revenue generated, pricing of goods and
the manufactured products are included in the report.
Facts and figures about the market competitors along with the stances of the leading market players are presented in the report.
Recent developments, mergers and acquisitions related to the aforementioned major players are given in the market report.
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