Software Asset Management Market to grow at 14.8% CAGR during 2017-2022 | Top Technologies, Overview, Key Insights and Company Profiles

Software Asset Management Market report gives complete study of Market growth drivers, Current growth, market trends, Market structure, Market projections for upcoming years.

Pune, India - April 8, 2019 /MarketersMedia/ —

ReportsnReports always aims at offering their clients an in-depth analysis and the best research material of the various market. This report on the global Software Asset Management Market is committed fulfilling the requirements of the clients by giving them thorough insights into the market. An exclusive data offered in this report is collected by research and industry experts team. Software Asset Management Market spread across 135 Pages, profiling 14 companies and supported with tables and figures.

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The Software Asset Management Market size is expected to grow from US$ 1.16 Billion in 2017 to US$ 2.32 Billion by 2022, at a Compound Annual Growth Rate (CAGR) of 14.8% during the forecast period. The increasing need to manage the life cycle of assets and compliance-readiness are expected to be driving the software asset management market.

“Software discovery, optimization, and metering solution segment is expected to hold the largest market size during the forecast period”
The software discovery, metering, and optimization solution helps organizations analyze, track, and maintain the ever-changing software asset requirements. With the help of these solutions, organizations can improve the efficiency of their software, maintain an ongoing record of their software usage, identify unused license software, and view the task history to know the usage trend analysis.

“SMEs segment is expected to grow at a higher CAGR during the forecast period”
Organizations with employees between 1 and 1,000 are categorized as SMEs. Cost-effectiveness is an important need for small businesses, as they always face constraints in marketing themselves and gaining visibility due to limited budgets. Moreover, the SMEs use software asset management solutions for license management, software discovery, optimization, and metering. Due to the limited budget, the SMEs mostly prefer cloud-based solutions over the on-premises solutions, and this adoption trend is expected to accelerate in the years to come, thereby enabling the cloud deployment type to have a considerable market size during the forecast period.

“Asia Pacific (APAC) is expected to grow at the highest CAGR during the forecast period”
The APAC region is expected to gain major traction in the software asset management market, due to the penetration of several companies in the region. Therefore, software asset management solutions are said to be gaining popularity in the APAC region. Factors such as a huge market potential and the increasing spending capacity of customers have encouraged organizations in this region to expand their reach and rely on different software providers to carry out operations.

The break-up of profiles of primary participants has been given below:
• By Company Type: Tier 1 – 22%, Tier 2 – 41%, and Tier 3 – 37%
• By Designation: C-level – 72%, D-level – 19%, and Others – 9%
• By Region: North America – 64%, Europe – 19%, APAC – 12%, RoW – 5%

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Report Highlights:
The main objective of this report is to define, describe, and forecast the software asset management market by component (solutions and services), deployment type, organization size, industry vertical, and region. The report provides detailed information regarding the major factors (drivers, restraints, opportunities, and industry-specific challenges) influencing the growth of the market. The report forecasts the market size with respect to 5 main regions: North America, Europe, Asia Pacific (APAC), the Middle East and Africa (MEA), and Latin America. The report also profiles key players and comprehensively analyzes their core competencies.

Top Companies in the Software Asset Management Market include are Aspera Technologies (US), BMC Software (US), CA Technologies (US), Certero (UK), Cherwell Software (US), Flexera (US), IBM (US), Ivanti (US), Micro Focus (UK), Microsoft (US), Scalable Software (US), Service Now (US), Snow Software (Sweden), and Symantec (US).

Competitive Landscape of Software Asset Management Market
1 Overview
2 Market Ranking
3 Competitive Scenario
3.1 New Product and Service Launches/Product Upgradations
3.2 Business Expansions
3.3 Mergers and Acquisitions
3.4 Partnerships and Collaborations

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Source: MarketersMedia

Release ID: 499950