Comprehensive Analysis: Top 10 Software Asset Management Companies (2021-2028)

According to our latest market study on "Software Asset Management Market Forecast to 2028 - Global Analysis - by Component, Deployment, Enterprise Size, Industry Vertical, and Geography," the market is expected to grow from $2,250.37 million in 2021 and is projected to reach $5,150.51 million by 2028; it is expected to grow at a CAGR of 12.6% from 2021 to 2028.

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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.

Increasing Need for Asset Lifecycle Management to Propel Software Asset Management Market Growth

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. Blissfully discovers and tracks all of the tools that clients utilize at their company. Users can see which applications they are using and how much time the team spends on each application through a single dashboard. Thus, the increasing need for asset lifecycle management propels the growth for the software asset management market.

Software Asset Management Market: Competitive Landscape and Key Developments

Microsoft Corporation, IVANTI, SNOW SOFTWARE, BMC SOFTWARE, CERTERO, FLEXERA, IBM Corporation, MICRO FOCUS, SERVICENOW and BROADCOM, INC. are among the major companies operating in the software asset management market. The leading companies are focusing on expanding and diversifying their market presence and acquiring a new customer base, thereby tapping prevailing business opportunities.

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