Software asset management is a business practice designed to reduce IT costs, limit risks related to the ownership and use of software, and increase corporate-wide and IT efficiencies. It provides better insight into software usage and value, reduce over or under-licensing of software and improve system security, data integrity, and data security. IBM Tivoli, BMC IT Asset Management, CA IT Asset Management, Oracle PeopleSoft, HP Asset Management and Servicenow Asset Management are some of the growing products which have established themselves as leaders in the software asset management area.
Software Asset Management (SAM) is a set of proven IT practices that unite people, processes, and technology to control and optimize the use of software across an enterprise. SAM can help enterprises control costs as well as manage business and legal risks, optimize software licensing investments, and align IT investments with business needs. For instance, CloudFabrix, the AIOps software company, introduced cfxRealize – the next generation IT asset lifecycle and adoption management solution. This new solution provides continuous visibility and intelligence to optimize hardware and software assets across the IT application/infrastructure based on usage and spend.
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Major Key Players
Aspera Technologies (US),
BMC Software (US),
CA Technologies (US),
Cherwell Software (US),
Micro Focus (UK), Scalable Software (US), ServiceNow (US), CloudFabrix Software Inc.(U.S) and Snow Software (Sweden)
The prominent players keep innovating and investing in research and development to present cost-effective offerings. Merger and acquisitions among various players are changing the market structure.
According to MRFR, The global Software Asset Management Market is expected to reach approximately USD 2.45 Billion by 2023 growing at a ~14.18% CAGR over the forecast period 2018–2023.
By component, the market is segmented into Solution and Services. Solution is sub-segmented into License Management, Audit and Compliance Management, Software Discovery, Metering, and Optimization, Contract Management, Configuration Management, and others. Services is sub-segmented into Professional Services and Managed Services.
By Deployment, the market is segmented into On-premise and On Cloud.
On the basis of organization size, the market is segmented into small and medium enterprises and large enterprises.
By vertical, the market is segmented into BFSI, IT & telecom, government, healthcare, retail, and others
The geographical analysis of software asset management market is studied for North America, Europe Asia Pacific, and the rest of the world.
North America is expected to dominate the software asset management market during the forecast period as many organizations are shifting towards new and upgraded technologies with the increasing adoption of digital business strategies. Also, this region is expected to dominate due to high investment in technology, catering the needs of lifecycle management of complex software, and strict laws and regulations regarding the purchase of assets.
Europe ranks second in terms of market share in the software asset management market due to heavy industrialization in the past decade in various technologically matured countries like Germany, the U.K, and France. However, Asia Pacific is also expected to show the highest growth rate during the forecast period. China, India, Japan, and South Korea are the leading countries in APAC.
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- Training and consulting service providers
- Software asset management providers
- Professional service providers
- Managed Service Providers (MSPs)
- System integrators
- Cloud platform providers
- Resellers and distributors
- Investors and venture capitalists
- Third-party software vendors
- Advisory firms
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