Global Software Asset Management Market: Key Players, Industry Size, Trends, Opportunities, and Forecast to 2028

Latest market study on "Software Asset Management Market to 2028 By Component (Solutions and Services), Deployment Type (On-premises and Cloud-Based), Organization Size (SMEs and Large Enterprises), and Industry Vertical (BFSI, IT and Telecom, Manufacturing, Retail and Consumer Goods, Government, Healthcare and Life Sciences, Media and Entertainment, and Others); - The software asset management market is expected to grow from US$ 2,250.37 million in 2021 to US$ 5,150.51 million by 2028; it is estimated to grow at a CAGR of 12.6% from 2021 to 2028. The administration of systems, rules, and procedures that enable the acquisition, implementation, usage, maintenance, and disposal of software applications inside an organization is known as software asset management (SAM). The software asset management market is a component of IT asset management that aims to guarantee that the company follows licensing agreements and does not overspend on software. The identification of software assets, the validity of end-user license agreements (EULAs), and the appropriate usage of free software are all crucial goals of any SAM endeavor. SAM documentation can protect one's company from anti-piracy lawsuits, minimize unintended license misuse, and provide control over the shadow software on the network.

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The Key Players In The Global Software Asset Management Market Are:
• Microsoft Corporation
• IVANTI
• SNOW SOFTWARE
• BMC SOFTWARE, INC.
• CERTERO
• FLEXERA
• IBM Corporation
• MICRO FOCUS
• SERVICENOW
• BROADCOM, INC.

Market Insights - Software Asset Management Market

Increasing Need for Asset Lifecycle Management Boost the Demand For Software Asset Management Market

All procedures and IT infrastructure users need to manage, regulate, and safeguard the company's software assets throughout their life cycles. IT asset management (ITAM), IT service management (ITSM), and hardware asset management (HAM) are all subsets of software asset management (SAM). ITAM aims to improve software and hardware asset management while optimizing cost savings and limiting audit risks. Modern businesses consider software to be an integral element of their everyday operations. On average, an organization employs 288 applications to assist employees with various tasks. With the implementation of a successful asset life cycle management or life cycle asset management (LCAM), strategy businesses can determine when an asset will achieve its peak performance and how long it has left to serve the business. For instance, Blissfully is a software asset management and software as a service (SaaS) management application that can help save money, manage all software providers, improve productivity, and increase the software system's security. Thus, the increasing need for asset lifecycle management boosts the demand for the software asset management market.
Component Segment Insights - Software Asset Management Market

Based on component, the software asset management market is segmented into solutions and services. The software asset management solutions help data center operations managers to identify, locate, visualize, and manage all assets and plan capacity for future growth. Implementing a software asset management program has a tactical purpose - matching the number of software licenses acquired with the number of actual licenses consumed or used. A successful software asset management program must verify that all installed software is used following the terms and conditions of the individual vendor licensing agreement and balancing the number of licenses purchased with the quantity of consumption. In the case of an audit by a software vendor or a third party such as the Business Software Alliance (BSA), companies can reduce the liabilities associated with software piracy.

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Software Asset Management Market Segment by Regions, regional analysis covers
North America (United States, Canada and Mexico)
Europe (Germany, France, UK, Russia and Italy)
Asia-Pacific (China, Japan, Korea, India and Southeast Asia)
South America (Brazil, Argentina, Colombia etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)

Research objectives:
To understand the structure of Software Asset Management Market by identifying its various sub segments.

Focuses on the key global Software Asset Management Market players, to define, describe and analyze the value, market share, market competition landscape, SWOT analysis and development plans in next few years.

To analyze the Software Asset Management Market with respect to individual growth trends, future prospects, and their contribution to the total market.

To share detailed information about the key factors influencing the growth of the market (growth potential, opportunities, drivers, industry-specific challenges and risks).

To project the size of Software Asset Management Market submarkets, with respect to key regions (along with their respective key countries).

To analyze competitive developments such as expansions, agreements, new product launches and acquisitions in the market.

To strategically profile the key players and comprehensively analyze their growth strategies.

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This release was published on openPR.