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Rising Demand for Cloud Computing Drives IT Asset Management Software Market Growth Driver: A Major Catalyst in the Evolution of the Information Technology (IT) Asset Management Software Market in 2025
Information Technology IT Asset Management Software
The growth of information technology (IT) asset management software market is projected to be spurred by the advent of cloud computing. Offering on-demand access to a range of computing resources such as servers, storage, and software via the internet, cloud computing allows users to benefit from these services without the necessity of owning or maintaining physical hardware. This model is increasingly favored due to its cost effectiveness, adaptability, and scalability, letting companies modify their resources as required without pouring money into costly hardware and infrastructure. IT asset management software contributes to cloud computing by offering tools which track and govern cloud resources, optimize the usage of assets, assure compliance, and amalgamate diverse cloud services, thereby enhancing efficiency and control at a broader level. For instance, as per the data provided by the European Commission, a government organization based in Belgium, in April 2024, there was a report in 2023 that indicated a usage of cloud computing services by 77.6% of large enterprises, marking a 6 percentage point surge since 2021. Meanwhile, adoption of cloud services among medium-sized enterprises rose from 53% in 2021 to 59% in 2023. Consequently, the ascendancy of cloud computing is fueling the growth of the IT asset management software market.
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How will the growth rate of the information technology (it) asset management software market shape industry trends by 2034?
The size of the market for information technology (IT) asset management software has been experiencing robust growth in recent years. Growth is projected to continue, moving from $4.33 billion in 2024 to $4.7 billion in 2025, indicating a compound annual growth rate (CAGR) of 8.7%. Factors contributing to the growth in the historic period include the advent of digital transformation, an increase in the complexity of IT ecosystems, a growing necessity for compliance and regulatory requirements, the proliferation of mobile and remote work, rising IT asset costs, and an increase in demand for enhanced operational efficiency and asset utilization.
In the upcoming years, the market size of the information technology (IT) asset management software is predicted to witness significant growth. The market is anticipated to expand to $6.49 billion in 2029, with an 8.4% compound annual growth rate (CAGR). This substantial growth during the forecast timeframe is due to factors such as the escalating complexity in IT assets, ongoing need for regulatory compliance, increasing demand for cost optimization, wider adoption of remote work, and heightened emphasis on cybersecurity. In the forecast duration, significant trends to note include the increased reliance on AI and machine learning for predictive analytics, integration with cloud services, automation in asset management tasks, improvement in mobile and remote management competencies, and progression in cloud computing.
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What trends are poised to drive the future success of the information technology (it) asset management software market?
Companies that dominate the IT asset management software market are currently prioritising the integration of cutting-edge technologies such as cloud services into their asset management software. This move seeks to bolster scalability, optimise real-time data access, and revolutionise the tracking and management procedures of assets across multifarious settings. The process of integrating cloud services into asset management software entails the inclusion of cloud-centric tools and platforms into the software used to manage and track an organisation's assets. As an illustration, Aptean, in March 2022, initiated the launch of Aptean EAM, a cloud-oriented asset management tool specially engineered for the manufacturing industry and businesses that utilise intricate equipment. The tool varies from being a rudimentary computerized maintenance management system (CMMS) to being a comprehensive EAM system, making it ideal for small to medium-sized companies. The platform enhances preventive maintenance procedures with sophisticated analytics, work order management, programmed approvals, and inventory tracking. Its user-centric design promotes effortless deployment and boosts operational efficiency across various manufacturing locations.
Which primary segments of the information technology (it) asset management software market are driving growth and industry transformations?
The information technology (IT) asset management software market covered in this report is segmented -
1) By Component: Hardware; Software; Service
2) By Tools: Discovery Or Automated Inventory; License Management; Patch And Version Management; Request Management; Product Or Service Catalog; Digital Asset Management; Other Tools
3) By Deployment: Cloud; On-Premise
4) By Organization Size: Small And Medium Enterprises (SMEs); Large Enterprise
5) By End User Industry: Information Technology (IT) And Telecom; Banking, Financial Services, And Insurance (BFSI); Healthcare; Retail; Manufacturing; Government; Other End Users
Subsegments:
1) By Hardware: Servers And Data Center Hardware; Networking Equipment; End-User Devices; Storage Devices Printers And Peripherals
2) By Software: Asset Tracking And Monitoring Software; License Management Software; Inventory Management Software; Configuration Management Software; Cloud-Based IT Asset Management Software; Mobile Device Management (MDM) Software
3) By Service: IT Asset Management Consulting Services; Implementation And Integration Services; Maintenance And Support Services; Training And Support Services; Cloud Migration Services
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Which geographical regions are pioneering growth in the information technology (it) asset management software market?
North America was the largest region in the information technology (IT) asset management software market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the information technology (IT) asset management software market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Who are the influential players reshaping the information technology (it) asset management software market landscape?
Major companies operating in the information technology (IT) asset management software market are Deloitte, International Business Machines Corporation, HP Inc., Broadcom Inc., SAP SE, Salesforce Inc., ServiceNow Inc., BMC Software Inc., Atlassian Corporation, Micro Focus International plc, Zoho Corporation, IFS AB, Quest Software Inc., Ivanti Software Inc., SolarWinds Corporation, Freshworks Inc., Flexera Software LLC, ASG Technologies Group Inc., TOPdesk, Chevin Fleet Solutions, Lansweeper, Spiceworks Inc., Agiloft Inc., SysAid Technologies, InvGate
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What Is Covered In The Information Technology (IT) Asset Management Software Global Market Report?
•Market Size Forecast: Examine the information technology (it) asset management software market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the information technology (it) asset management software market for a structured understanding.
•Key Players Overview: Analyze major players in the information technology (it) asset management software market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the information technology (it) asset management software market.
•Segment Contributions: Evaluate how different segments drive overall growth in the information technology (it) asset management software market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the information technology (it) asset management software market.
•Industry Challenges: Identify potential risks and obstacles affecting the information technology (it) asset management software market.
•Competitive Landscape: Review strategic developments in the information technology (it) asset management software market, including expansions, agreements, and new product launches.
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