Software Asset Management market is estimated to grow at a CAGR 16.90% during 2023-2030

MRFR Press Release/- Market Research Future published a half-cooked research report on Software Asset Management market.

Market Highlights

Software asset management is a business practice designed to reduce IT costs, limit risks related to the ownership and use of software, and increase corporate-wide and IT efficiencies. It provides better insight into software usage and value, reduce over or under-licensing of software and improve system security, data integrity, and data security. IBM Tivoli, BMC IT Asset Management, CA IT Asset Management, Oracle PeopleSoft, HP Asset Management and Servicenow Asset Management are some of the growing products which have established themselves as leaders in the software asset management area.

By component, the market is segmented into solution and services. Solution is sub-segmented into license management, audit and compliance management, software discovery, metering, and optimization, contract management, configuration management, and others. Services is sub-segmented into professional services and managed services.

By deployment, the market is segmented into on-premise and on cloud.

By organization size, the market is segmented into small and medium enterprises and large enterprises.

By vertical, the market is segmented into BFSI, IT & telecom, government, healthcare, retail, and others

Key Players

Some of the key players of software asset management market include Aspera Technologies (US), BMC Software (US), CA Technologies (US), Microsoft (US),  Symantec (US), Certero (UK), Cherwell Software (US), Flexera (US), IBM (US), Ivanti (US),Micro Focus (UK), Scalable Software (US), ServiceNow (US), CloudFabrix Software Inc.(U.S) and Snow Software (Sweden)

The prominent players keep innovating and investing in research and development to present cost-effective offerings. Merger and acquisitions among the various players are changing the market structure.

Regional Analysis

The global market for software asset management is estimated to grow at a significant rate during the forecast period from 2018 to 2023. The geographical analysis of software asset management market is covered for the regions such as North America, Europe, Asia Pacific, and rest of the world. Due to technological advancements in North America, it is expected to emerge as the leading region during the forecasting period. This technological advancement has created the need to manage the lifecycle of the complex software assets. Also, owing to the presence of major player such as BMC Software (US), CA Technologies (US), Microsoft (US),  Symantec (US) the market for SAM is high.

On the other hand, Asia Pacific is expected to show the highest growth in the software asset management market. The increasing commercial investment in the developing countries of APAC region have witnessed the market growth. The manufacturers in Asia Pacific are becoming more and more advanced by deploying newer technologies hence there is need for monitoring the assets of the enterprises and improve the efficiency. China, India, Japan, and South Korea are the leading countries in APAC.