IT Asset Management Software Market 2016 to grow at a CAGR of 9.4% during the period to 2020

One of the key factors contributing to this market growth is the increased need for ITAM cost reduction. The Global IT Asset Management Software market has also been witnessing the emergence of cloud computing. However, the high deployment cost could pose a challenge to the growth of this market.

Global IT Asset Management Software market to grow at a CAGR of 9.4% over the period 2012-2016.

Global IT Asset Management Software Market 2012-2016, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the Americas, and the EMEA and APAC regions; it also covers the Global IT Asset Management Software market landscape and its growth prospects in the coming years. The report also includes a discussion of the key vendors operating in this market.

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The key vendors dominating this market space are BMC Software Inc., CA Technologies Inc., Hewlett-Packard Co., and IBM Corp.

The other vendor mentioned in the report is Novo Solutions Inc.

Commenting on the report, an analyst Enterprise Computing team said: ''The emergence of cloud-based solutions has enabled organizations to increase their efficiency and reduce the cost of deploying valuable IT infrastructure. However, many organizations are still analyzing the feasibility of such cloud computing solutions and their relevance to their IT operations. The cloud-based model for ITAM offers a pay-per-use model, which provides cost-effective accessibility and a paradigm whereby the ITAM software can be accessed at any time and in any place by multiple users. Hence, the Global ITAM market is witnessing a trend where many vendors in the market have begun to offer their solutions through the cloud-based model to expand their services and enter new markets. Although many enterprises have an increased understanding of the benefits of cloud-based ITAM solutions, a number of concerns and risks, particularly with regard to data sharing and security, are affecting the steady adoption of such solutions.''

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According to the report, one of the major drivers in the market is the increased need to reduce the cost of ITAM software. ITAM software helps in maintaining a check on the operating expenses of organizations by controlling the downtime losses caused by the malfunctioning of IT assets. It also provides a faster return on investment to the end-users, thus improving the total cost of ownership for organizations.

Further, the report states that the high deployment cost is one of the major challenges confronting the market. The price of ITAM applications includes the cost of licensing, system design and customization, implementation, training, and maintenance.

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