License Management Market Trends, Business Overview, Industry Growth and Forecast to 2028

The global license management market is anticipated to grow at a significant CAGR of 10.1% during the forecast period (2022-2028). License management assist businesses in managing and archiving items in order to verify that end-user license agreements are followed. Organizations can also use license management systems to reduce the costs, complexity, and hazards associated with software assets and licensing. Another advantage of these technologies is that they reduce overspending on software licenses and cloud resources.

The license management market is primarily driven by the growing need for effective and efficient license management software among large corporations and small and medium businesses (SMBs). The rising use of licensing management is being aided by the growing illicit usage of software goods and piracy. Furthermore, businesses are placing a greater emphasis on controlling their software assets and lowering licensing maintenance costs, resulting in a growth of the license management market. In the near future, the license management industry is expected to benefit from the increasing usage of cloud-based technologies and the virtualization of business processes.

The market players are also contributing significantly to the growth of the market by the adoption of various strategies including mergers and acquisitions, geographical expansion, partnerships, collaborations, and new product launches, in order to stay competitive in the market. For instance-

•In March 2022, GEFA Bank, a Societe Generale subsidiary and a lending partner for German SMEs, has chosen DXC Technology for a digital transformation project. GEFA Bank and DXC Technology will use the "G-Rocket" initiative to relocate the bank's mission-critical programs and data from its current data center to Microsoft's Azure cloud platform. GEFA BANK and DXC will migrate the bank's application landscape to cloud-native technologies, including Azure Kubernetes Service as part of the Azure migration (AKS).
•In January 2022, FOG Software Group, an operating group of Vela Software, and Constellation Software Inc. purchased Reprise Software, the creators of the Reprise License Management (RLM) system.
•In January 2022, the Oracle Licensing Guide by Miro Consulting has been updated. Miro Consulting is a software asset management (SAM) firm, specializing in Oracle, Microsoft, IBM, Salesforce, and AWS licensing management, audit advisory, negotiation strategies, support management, and cloud services.

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Market Coverage
•The market number available for - 2021-2028
•Base year- 2021
•Forecast period- 2022-2028
•Segment Covered-
•By Component
•By Deployment
•By End-User
•Regions Covered-
•North America
•Europe
•Asia-Pacific
•Rest of the World

Competitive Landscape- Cherwell Software, LLC, DXC Technology, Flexera, Reprise Software, and USU Software AG, among others.

A full report License Management Market of is available at:  https://orionmarketreports.com/license-management-market/106793/

Global License Management Market Report by Segment
By Component
•Software
•Services
By Deployment
•On-Premise
•Cloud-Based
By End-User
•BFSI
•Healthcare and Life Sciences
•IT and Telecommunication
•Media and Entertainment
•Others

Key questions addressed by the report
•What is the market growth rate?
•Which segment and region dominate the market in the base year?
•Which segment and region will project the fastest growth in the market?
•How has COVID-19 impacted the market?
•Deviation from the pre-COVID-19 forecast
•Most affected region and segment
•Who is the leader in the market?
•How players are addressing challenges to sustain growth?
•Where is the investment opportunity?

 

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This release was published on openPR.