Software Asset Management Market: Market Overview
Due to rise in enhanced risk management and maintenance of cost, the demand for software asset management is growing rapidly. Software asset management helps in optimizing the cost and reducing risk which leads to efficient asset management in the organization. Due to the inability of tracking software licenses consumption, many organization is facing challenges in maintaining the cost of installed software. Some of the problems encountered by organizations are complex licensing agreements and inefficient deployment processes. Software asset management offers benefits such as management of investment in software assets, immediate and long-term financial benefits, protection from unintentional overuse of licenses, compliance with complex software licensing terms and protection from anti-piracy litigation, enhanced security from unauthorized software.
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Software Asset Management Market: Market Dynamics
Increased number of audits, complex licensing schemes, over compliance & higher spending on licenses are the drivers of software asset management market
Complex licensing rules as software licensing are complex and varied, and low prioritization are the challenges in software asset management market
Cloud solutions and virtualization are the latest technologies which are trending in software asset management market
Global Software Asset Management Market: Market Segmentation
Software Asset Management market divided into three segments, based on technology tools, enterprise type, deployment type, applications, end-user industries, and region.
Segmentation by technology tools in Software Asset Management market:
- Software inventory tools
- License manager solutions
- Software metering tools
- Application control tools
- Software deployment tools
- Patch management tools
- Request management tools
- Product catalog tools
Segmentation by enterprise type in Software Asset Management market:
- Small and medium enterprise
- Large enterprise
Segmentation by applications in Software Asset Management market:
- Software compliance
- Audit management
- Vendor management
Segmentation by deployment type in Software Asset Management market:
Segmentation by end-user industries in Software Asset Management market:
- Oil and Gas
Global Software Asset Management Market: Competition Landscape
Few prominent players in Software Asset Management market include Flexera Software LLC, Microsoft Corporation, HP Inc., Snow Software AB, LANDesk International Ltd, Matrix42, Aspera GmbH, 1E Ltd., Eracent Inc., Centrix Software Ltd., Cherwell Software, LLC and IBM Corporation.
Software Asset Management Market: Regional Outlook
North America presently leads the global software asset management market owing to the massive growth of the IT industry and growing awareness of software asset management solutions. Organizations have been highlighting on the decreasing operational expenditure by cost optimization in software asset management. Asia-Pacific and Western Europe are expected to grow rapidly owing to increased adoption of cloud-based solutions and virtualization in the forecast period.