According to our latest market study on "Software Asset Management Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Component, Deployment, Enterprise Size, Industry Vertical, and Geography," the market is expected to grow from US$ 2,250.37 million in 2021 and is projected to reach US$ 5,150.51 million by 2028; it is expected to grow at a CAGR of 12.6% from 2021 to 2028.

Global Software Asset Management Market Insight:

The administration of systems, rules, and procedures that enable the acquisition, implementation, usage, maintenance, and disposal of software applications inside an organization is known as software asset management (SAM). The software asset management market is a component of IT asset management that aims to guarantee that the company follows licensing agreements and does not overspend on software. The identification of software assets, the validity of end-user license agreements (EULAs), and the appropriate usage of free software are all crucial goals of any SAM endeavor. SAM documentation can protect one's company from anti-piracy lawsuits, minimize unintended license misuse, and provide control over the shadow software on the network.

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Software asset management in a large organization may be so complicated that it requires the development and maintenance of a database that maintains information about software purchases, subscriptions, licenses, and patches. A team like this is often in charge of renewing software licenses, negotiating new license agreements, and detecting and removing software that is rarely or never utilized. The software asset management market will audit the number of software licenses purchased and reconcile it with the number of licenses installed to automate how information is obtained from numerous mobile, desktop, data center, and cloud inventory sources. SAM tools may also keep track of how many licenses are left. To keep expenses down, this knowledge may be utilized to delete or reallocate software that is not being used.

The Key Players In The Global Market Are:

·         Microsoft Corporation

·         IVANTI                

·         SNOW SOFTWARE          

·         BMC SOFTWARE, INC.                 

·         CERTERO    

·         FLEXERA

·         IBM Corporation              

·         MICRO FOCUS          

·         SERVICENOW

·         BROADCOM, INC.

Industry Vertical Segment Insights – Software Asset Management Market

Based on industry vertical, the software asset management market is segmented into government, retail & consumer goods, healthcare & life sciences, BFSI, media & entertainment, manufacturing, IT & telecom, and others. Digital technologies are transforming the way the manufacturing industry approaches its business. Technology is estimated to play a massive role in Industry 4.0. Software asset management will be a key piece of this new age of manufacturing.

Deployment Type Segment Insights – Software Asset Management Market

Based on deployment type, the software asset management is categorized into on-premise and cloud-based. Cloud-based software asset management solutions are more convenient to use on various devices with different screen sizes (desktop, laptop, tablet, hand-held devices, and smartphones). Data from RFID, barcoding, and NFC may also be saved in the cloud, making retrieval easier. Cloud-based systems are ideal for multi-location and a combination of internal and external asset audits, owing to their ease of access. It is usually simpler to upload asset photos and add remarks from many devices. A cloud-based software asset management solution can easily facilitate version control, auditing, and multi-approval chains.

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The report segments the global Market as follows:

By Component (Solutions and Services);

By Deployment Type (On-premises and Cloud-Based);

By Organization Size (SMEs and Large Enterprises);

By Industry (BFSI, IT and Telecom, Manufacturing, Retail and Consumer Goods, Government, Healthcare and Life Sciences, Media and Entertainment, and Others)

Answers that the report acknowledges:

·         Market size and growth rate during forecast period.

·         Key factors driving the Market.

·         Key market trends cracking up the growth of the Market

·         Challenges to market growth.

·         Key vendors of Software Asset Management Market

·         Detailed SWOT analysis.

·         Opportunities and threats faces by the existing vendors in Global Software Asset Management Market

·         Trending factors influencing the market in the geographical regions.

·         Strategic initiatives focusing the leading vendors.

·         PEST analysis of the market in the five major region

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