Report Ocean has released a research study titled “Software Asset Management Market 2023 Forecast to 2031 Analysis by Market Trends.” This study offers precise economic forecasts, global assessments, and country-level insights. It provides a comprehensive view of the competitive market and includes an in-depth supply chain analysis to identify significant industry changes. The study explores the current market status, anticipated future growth, technological advancements, investment opportunities, market economics, and financial data. It thoroughly examines the market and offers insights based on a SWOT analysis of the industry.
Software asset management market to reach USD 5.4 billion by 2027. Global software asset management market is valued approximately at USD 1.7 billion in 2020 and is anticipated to grow with a healthy growth rate of about 18.1% over the forecast period 2021-2027. Software asset management refers to a business practice which involves management and optimization of the deployment, maintenance, purchase, utilization, and disposal of the software application within an organization. Software asset management can serve a range of functions within an organization, depending on their IT infrastructures, software portfolios, business goals and resource availability.
Request To Download Free Sample of This Strategic Report @https://reportocean.com/industry-verticals/sample-request?report_id=bw4107
The global software asset management market is being driven by simpler management and lower software spent cost and rising need to manage audits and meet regulatory compliance standards. Furthermore, evolution of IoT and the rapidly growing number of IoT devices will provide new opportunities for the global software asset management industry. IoT enabled asset management makes use of sensors which empowers organizations to know information regarding their assets, eliminating the requirement for human effort. Hence, with growth in the IoT connected devices, the demand for software asset management is likely to increase. According to Statista, the total installed base of IoT active device connections across the globe amounted is expected to increase from 10 billion in 2019 and is expected to reach 30.9 billion units by 2025
Major market player included in this report are:
Snow Software
Flexera
USU Software AG
Ivanti
BMC Software
ServiceNow
Certero
Matrix42
Broadcom
Eracent
Download Free Sample of This Strategic Report with Industry Analysis @https://reportocean.com/industry-verticals/sample-request?report_id=bw4107
MARKET OVERVIEW
here’s a comprehensive analysis of key points related to the Software Asset Management (SAM) market:
- Market Growth and Size:
- The Software Asset Management market is experiencing substantial growth, driven by the increasing need for efficient software license management and compliance.
- Market size is projected to reach [provide estimated figures] by [specify the year], with a significant compound annual growth rate (CAGR).
- Cost Optimization and Efficiency:
- Organizations are adopting SAM solutions to optimize software costs, enhance efficiency, and ensure compliance with licensing agreements. SAM helps in identifying unused or underutilized licenses, leading to potential cost savings.
- Cloud-Based SAM Solutions:
- The market is witnessing a shift towards cloud-based SAM solutions, offering scalability, accessibility, and real-time monitoring capabilities. Cloud-based solutions also facilitate remote management and updates.
- Compliance and Risk Management:
- Compliance with software licensing agreements and the mitigation of legal and financial risks associated with non-compliance are driving the demand for SAM solutions. Organizations are leveraging SAM tools to maintain audit-readiness.
- Automation and AI Integration:
- SAM solutions are integrating automation and artificial intelligence (AI) to streamline processes such as software discovery, inventory management, and license optimization. This integration enhances accuracy and reduces manual effort.
- Vendor Management and Negotiation:
- SAM tools support effective vendor management by providing insights into software usage patterns, enabling organizations to negotiate favorable licensing terms and avoid unnecessary expenditures.
- Security and Vulnerability Management:
- SAM is increasingly integrated with security measures to address vulnerabilities related to outdated software versions. Proactive management of software updates and patches helps in maintaining a secure IT environment.
- User Training and Awareness:
- SAM solutions are not only technological tools but also involve user training and awareness programs. Educating employees on software usage policies and compliance practices is crucial for successful SAM implementation.
- Integration with IT Service Management (ITSM):
- Integration with ITSM tools is a growing trend in the SAM market. This integration streamlines workflows, enhances collaboration between IT teams, and ensures a holistic approach to IT asset management.
- Predictive Analytics for Future Planning:
- Advanced SAM solutions are incorporating predictive analytics to forecast future software needs, allowing organizations to plan and budget effectively. This proactive approach aligns with long-term business strategies.
The detailed segments and sub-segment of the market are explained below:
By Component:
Solutions
Services
By Deployment Model:
On-premises
Cloud
By Organization Size:
Large Enterprises
SMEs
By Vertical:
BFSI
IT and ITeS
Telecom
Manufacturing
Retail and eCommerce
Government
Healthcare and Life Sciences
Education
Media and Entertainment
Others
Get a Request Free Sample Full Report @https://reportocean.com/industry-verticals/sample-request?report_id=bw4107
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World
Reasons to buy market research report:
Market Understanding:
- Market research reports provide a comprehensive understanding of a specific market or industry.
- They offer valuable insights into market size, growth trends, key players, competitive landscape, consumer behavior, and other important factors that influence the market.
- Buying a market research report helps stakeholders gain a deeper understanding of the market dynamics and make informed decisions.
Business Planning:
- Market research reports assist in strategic business planning. They provide data and analysis that can be used to assess market opportunities, identify potential risks, and develop effective business strategies.
- Reports often include market forecasts, allowing businesses to anticipate future trends and plan their operations accordingly.
- This helps organizations align their goals and resources with market demands, increasing the chances of success.
Market Entry and Expansion:
- Market For businesses considering entering a new market or expanding their presence in an existing market, market research reports are invaluable.
- They provide insights into market feasibility, target audience analysis, competitive intelligence, and regulatory requirements.
- This information helps companies evaluate market potential, assess competition, and make informed decisions regarding market entry or expansion strategies.
Investment Decision-Making:
- Market research reports are useful for investors seeking opportunities in specific industries or markets.
- Reports provide detailed analysis and forecasts, helping investors assess the attractiveness and growth potential of a market.
- They offer insights into industry trends, emerging sectors, and investment risks, enabling investors to make well-informed investment decisions.
Risk Mitigation:
- Market research reports can help organizations mitigate risks associated with market uncertainty.
- By analyzing market trends, competitive landscape, and consumer behavior, reports highlight potential risks and challenges.
- This information allows businesses to proactively identify and address risks, adjust their strategies, and minimize potential negative impacts.
Marketing and Product Development:
- Market research reports provide valuable information for marketing and product development purposes.
- They offer insights into consumer preferences, buying behavior, and market segmentation, helping businesses tailor their marketing strategies and develop products that meet customer needs.
- Reports also provide competitive analysis, enabling businesses to differentiate their offerings and position themselves effectively in the market.
Decision-Making Support:
- Market research reports serve as reliable sources of data and analysis that support decision-making processes across various functions within an organization.
- They provide stakeholders with evidence-based information to support their choices, whether in sales, marketing, product development, investments, or other areas.
Request Full Report @https://reportocean.com/industry-verticals/sample-request?report_id=bw4107
We are the best market research reports provider in the industry. Report Ocean is the world’s leading research company, known for its informative research reports. We are committed to providing our clients with both quantitative and qualitative research results. As a part of our global network and comprehensive industry coverage, we offer in-depth knowledge, allowing informed and strategic business conclusions to report. We utilize the most recent technology and analysis tools along with our own unique research models and years of expertise, which assist us to create necessary details and facts that exceed expectations.
Get in Touch with Us:
Report Ocean:
Email: [email protected]
Address: 500 N Michigan Ave, Suite 600, Chicago, Illinois 60611 – UNITED STATES
Tel: +1888 212 3539 (US – TOLL FREE)
Website: https://reportocean.com