Press release
Software Licensing Market Outlook, Current, and Future Industry Landscape Analysis
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Enterprises follow software licensing methods including end-user license agreements (EULA) in which vendors can easily license their software. The second method is the white labeling software licensing approach in which a software/product is created by one company and later rebranded by some other companies.
Increasingly stringent rules & regulation regarding software or platform: Prominent driving factor of the software licensing market
Software/ platform is becoming progressively important across various industries including healthcare, automotive, and telecommunication. Software is becoming more and more significant for medical devices under the relevant rules & regulations. According to the Therapeutic Goods Administration (TGA) Australia, definition of a medical device includes software and mobile applications as well. For instance:
Software as a Medical Device (SaMD): The therapeutic goods legislation (Australia) covers manufacturers of SaMD products to obtain "conformity assessment certification" to permit inclusion in the Australian Register of Therapeutic Goods (ARTG)
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Increasing demand for open-source software/platform is negatively impacting the software licensing market. Open source platform is a platform that anybody can review, alter, and enhance with a source code. Open source platforms usually are available free of cost and do not require the user to pay for any further copy. This platform/software is reliable due to two main reasons: open source platforms are mainly developed by talented & skilled professionals who develop high-quality programs. Secondly, the platforms are worked on by many people who monitor the bugs and also fix such defects within a short period of time. Therefore, growing demand for open-source platform/software is expected to significantly hamper the software licensing market globally.
In terms of region, the global software licensing market can be segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa
North America is anticipated to account for major share of the global software licensing market during the forecast period since numerous companies are shifting toward software-based selling, which is significantly driving the market in the region, indicating potential growth of the software licensing market. Europe is estimated to be the second largest market for software licensing from 2019 to 2027. Increasing anti-counterfeiting & anti-piracy initiatives are likely to drive the software licensing market in the region.
Asia Pacific is projected to be a rapidly expanding region of the global software licensing market during the forecast period due to growing transition from homegrown to commercial SLM systems, which is expected to increase the adoption of software licensing in the region.
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Key Players Operating in the Global Market
DXC Technology Company
Softline
Nalpeiron
Gemalto NV
Flexera
WIBU-SYSTEMS AG
Vector Networks
Nimbix, Inc.
Snow Software
Reprise Software
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