Global software asset management industry expected to reach $5.3 billion by 2027

DUBLIN, March 31, 2022 /PRNewswire/ — The Report “Global Software Asset Management Market By Component, By Deployment Type, By Enterprise Size, By End User, By Regional Outlook, Industry Analysis Report and Forecast, 2021 -2027” was added to from ResearchAndMarkets.com offer.

The Global Software Asset Management Market Size is Expected to Reach $5,370.4 million by 2027, with market growth of 17.3% CAGR during the forecast period.

Software Asset Management (SAM) refers to the business mechanism, which includes the management and optimization of different aspects such as the purchase, use, maintenance, deployment and disposal of software applications in a business. By adopting SAM, enterprises aim to reduce information technology (IT) costs and business and legal issues regarding software ownership and use while simultaneously increasing IT responsiveness and end-user productivity.

Software asset management is an ongoing and emerging way that companies manage their licenses and other software assets. This requires the inclusion of all employees at all levels of the business, from the management team to every end user.

Software asset management facilitates control and accountability of spend and standards through a user management and approval process that should lead to best practice during the procurement phase. It also enables accountability and control over the retirement of IT/software assets maintained by financial and physical objectives.

By adopting SAM tools, companies can also ensure that there is no over-purchasing or over-licensing. Along with this, it also lays the foundation for choosing the most suitable license types, developing the greatest flexibility based on current and future needs, and reducing the risk of cost surprises.

COVID-19 Impact Analysis

The outbreak of the COVID-19 pandemic has disrupted all aspects and sections of life and society as well as businesses. In the current scenario, widespread communication is possible through the internet and hence plays a crucial role in running and operating businesses. The pandemic has presented businesses with a great opportunity to go digital.

Moreover, consumer demand has consequently decreased as customers are gradually reducing non-essential expenses from their budget as the normal economic status of most people has been strictly affected by the pandemic. Because of this, the demand for solutions is expected to decline.

Market Growth Factors:

The Growing Need for Software Application Business Management and Optimization Across Enterprises

Software is one of the crucial elements in various business processes and managing multiple types of software is also becoming an important part of business strategies as companies increasingly spend to build advanced IT infrastructure. There is an increase in demand for software asset management solutions among enterprises to manage and optimize their IT assets to stay up to date with the rapidly changing landscape.

High adoption of cloud-based solutions

With the high internet penetration and increasing digitalization across the globe, businesses are embracing and allocating their budget extensively to advanced solutions to build a solid IT infrastructure. Cloud-based software asset management is increasingly popular in the market as it offers a wide range of benefits including scalability, flexibility, and low cost. This is expected to create more lucrative opportunities for major market players.

Marketing Restriction Factor:

Limited budget of SMEs and lack of knowledge among them

There are a large number of SMEs in the world, which contribute in a major way to the global economy. These SMEs usually have a limited budget for their business operations, which discourages them from adopting various cutting-edge technologies, software or solutions. Additionally, SMBs find it difficult to understand the ROI of software asset management solutions and services compared to large enterprises, as the complications of managing a wide range of software across multiple devices are more common in large companies than in SMEs.

Component Perspectives

The software asset management market is categorized into solutions (license management, audit and compliance management, software discovery, optimization and measurement, contract management, configuration management, etc.) and services (managed services and professional services). The solutions segment is estimated to acquire the highest market share during the forecast period.

Outlook deployment type

The software asset management market is divided into on-premise and cloud. The on-premises deployment model is estimated to garner the highest market share during the forecast period. This is because businesses in different regions are turning to the cloud to accelerate digital transformation.

Company size outlook

The software asset management market is divided into large enterprises and SMEs. The SME segment is expected to witness a significant growth rate in the market over the forecast period. These companies are expected to encounter several challenges due to their tight budget and should need better ways to resolve the complications to improve the cost optimization of their business procedures.

End User Perspectives

The software asset management market is fragmented into education, BFSI, healthcare, IT & telecommunications, manufacturing, government, retail and e-commerce, etc. The manufacturing segment is expected to get the largest share of market revenue over the forecast period.

Regional outlook

The Software Asset Management market is analyzed through North America, Europe, Asia Pacificand LAMEA. North America is expected to acquire the largest software asset management market share over the forecast period. Europe is estimated to acquire the second largest market share during the forecast period, followed by North America.

Main topics covered:

Chapter 1. Market Scope and Methodology

Chapter 2. Market Overview
2.1 Presentation
2.1.1 Presentation
2.1.1.1 Market composition and scenario
2.2 Key Factors Impacting the Market
2.2.1 Market Drivers
2.2.2 Market constraints

Chapter 3. Competitive Analysis – Global
3.1 Cardinal matrix
3.2 Recent Industry-Wide Strategic Developments
3.2.1 Partnerships, collaborations and agreements
3.2.2 Product launches and product extensions
3.2.3 Acquisitions and mergers
3.2.4 Geographic expansions:
3.3 Main winning strategies
3.3.1 Key Primary Strategies: Percentage Breakdown (2017-2021)
3.3.2 Key Strategic Movement: (Partnerships, Collaborations and Agreements: 2017, June – 2021, June) Key Players

Chapter 4. Global Software Asset Management Market by Component
4.1 Global Solutions Market by Region
4.2 Global Solutions Market by Type
4.2.1 Global License Management Market by Region
4.2.2 Global Contract Management Market by Region
4.2.3 Global Audit and Compliance Management Market by Region
4.2.4 Global Software Discovery, Optimization and Measurement Market by Region
4.2.5 Global Configuration Management Market by Region
4.2.6 Global Other Types of Solutions Market by Region
4.3 Global Services Market by Region

Chapter 5. Global Software Asset Management Market by Deployment Type
5.1 Global On-premises Market by Region
5.2 Global Cloud Market by Region

Chapter 6. Global Software Asset Management Market by Company Size
6.1 Global Large Enterprise Market by Region
6.2 Global Small & Medium Enterprise Market by Region

Chapter 7. Global Software Asset Management Market by End User
7.1 Global Manufacturing Market by Region
7.2 Global BFSI Market by Region
7.3 Global Information and Telecommunications Technology Market by Region
7.4 Global Healthcare Market by Region
7.5 Global Retail and E-commerce Market by Region
7.6 Global Government Market by Region
7.7 Global Others Market by Region

Chapter 8. Global Software Asset Management Market by Region

Chapter 9. Business Profiles
9.1 USU Software SA
9.1.1 Company Overview
9.1.2 Financial analysis
9.1.3 Sectoral and regional analysis
9.1.4 Research and development costs
9.1.5 Strategies and recent developments:
9.1.5.1 Partnerships, collaborations and agreements:
9.1.5.2 Product launches and product extensions:
9.1.5.3 Geographic extensions:
9.2 Certero
9.2.1 Company overview
9.2.2 Strategies and recent developments:
9.2.2.1 Partnerships, collaborations and agreements:
9.2.2.2 Product launches and product extensions:
9.3 Matrix42 NV (Corten Capital)
9.3.1 Company Overview
9.3.2 Strategies and recent developments:
9.3.2.1 Partnerships, collaborations and agreements:
9.3.2.2 Acquisition and merger:
9.4 Eracent
9.4.1 Company Overview
9.4.2 Strategies and recent developments:
9.4.2.1 Partnerships, collaborations and agreements:
9.4.2.2 Product launches and product extensions:
9.5 Upgradable Software
9.5.1 Company Overview
9.8 ServiceNow, Inc.
9.8.1 Company Overview
9.8.2 Financial analysis
9.8.3 Regional Analysis
9.8.4 Research and development costs
9.8.5 Recent Strategies and Developments:
9.8.5.1 Product launches and product extensions:
9.8.5.2 Acquisition and merger:
9.9 Broadcom, Inc.
9.9.1 Company overview
9.9.2 Financial analysis
9.9.3 Sectoral and regional analysis
9.9.4 Research and development costs
9.9.5 Strategies and recent developments:
9.9.5.1 Partnerships, collaborations and agreements:
9.9.5.2 Acquisition and merger:
9.10 BMC Software, Inc. (KKR & Co., Inc.)
9.10.1 Company Overview
9.10.2 Financial analysis
9.10.3 Recent Strategies and Developments:
9.10.3.1 Partnerships, collaborations and agreements:
9.10.3.2 Acquisition and merger:

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