IT Asset Management Market is Predicted to Have Document a CAGR of 6.9% During the 2022-2032 | FMI

According to a recent study published by Future Market Insights, the IT asset management market is expected to reach US$ 2.3 Billion by 2032, expanding at a CAGR of 6.9%. The growing need to manage audits and meet regulatory compliance standards, manage and optimise the purchase, deployment, maintenance, utilization, and disposal of software applications within the business, and lower software spend costs are expected to accelerate the market growth during the forecast period.

Additionally, the growing need for improving organizational productivity by deploying advanced technology to meet the business needs is also stimulating market growth.  From 2015 to 2021, IT asset management demand expanded at a CAGR of 7.5%, closing at a valuation of US$ 1.1 Billion. Moreover, an absolute dollar opportunity worth US$ 1.1 Billion has been forecast for the market during the coming decade.

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Key Takeaways from the Market Study

Global IT asset management market to reach US$ 1.2 Billion by 2022-end
The U.S to account for the highest value share of US$ 320.8 Million of global market demand for IT asset management in 2032
By deployment, the cloud category constitutes the bulk of IT asset management market with a CAGR of 7.0%
IT asset management solutions for large enterprises to remain preferred, flourishing at a 6.2% CAGR
India to emerge as a highly opportunistic market, documenting a value of US$ 224.8 Million
China and Japan to document value CAGRs of 2.3% and 7.8% respectively until 2032
Global IT asset management market to nearly double during the forecast period

Competitive Landscape

Players in the global IT Asset Management Market focus on expanding their global reach through various strategies, such as; partnerships, collaborations, and partnerships. The players are also making a significant investment in R&D to add innovations to their products which would help them in strengthening their position in the global market. Some of the recent developments among the key players are:

In July 2021, Snow Software introduced Snow Atlas, the first integrated platform built to help organizations discover, monitor, and optimize their technology investments both on-premises and in the cloud. The first solutions available on the new cloud-native platform are SAM, SaaS management, and ITSM integrations which were earlier delivered as a service, are now in early access.
In May 2021, Flexera introduced interoperability between its Software Vulnerability Manager solution and VMware Workspace ONE Unified Endpoint Management. Through this interoperability, customers will be able to identify, prioritize, and satisfy the need for third-party patch deployment to remediate software vulnerabilities.

Know More about What the IT Asset Management Market Repost Covers

Future Market Insights offers an unbiased analysis of the global IT Asset Management Market, providing historical data for 2015-2021 and forecast statistics from 2022-2032. To understand opportunities in the IT Asset Management Market, the market is segmented on the basis of enterprise size, deployment, and end-use across five major regions.

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Key Segments Covered in the IT Asset Management Industry Report

IT Asset Management by Enterprise Size:

IT Asset Management for SMEs
IT Asset Management for Large Enterprises

IT Asset Management by Deployment:

On-Premise IT Asset Management Deployment
Cloud-based IT Asset Management Deployment
Hybrid IT Asset Management Deployment

IT Asset Management by End-Use:

IT Asset Management for BFSI
IT Asset Management for Telecom and IT
IT Asset Management for Healthcare
IT Asset Management for Transportation
IT Asset Management for Government
IT Asset Management for Energy and Utilities
IT Asset Management for Manufacturing
IT Asset Management for Other End Use Industries

IT Asset Management by Region:

North America IT Asset Management Market
Latin America IT Asset Management Market
Europe IT Asset Management Market
Asia Pacific IT Asset Management Market
Middle East and Africa IT Asset Management Market

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Explore Other Related Reports Links From Technology Market

IT Asset Disposition Market - https://www.futuremarketinsights.com/reports/it-asset-disposition-market

Digital Asset Management Market - https://www.futuremarketinsights.com/reports/digital-asset-management-market

Asset And Liability Management Solutions Market - https://www.futuremarketinsights.com/reports/asset-and-liability-management-solutions-market

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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

This release was published on openPR.