IT Asset Management Market Growing at 7.52% CAGR to 2020

18 Aug, 2016, 02:00 ET from RnR Market Research

PUNE, India, August 18, 2016 /PRNewswire/ --

The global IT asset management market 2016-2020 report says increased adoption of hybrid deployment model, need for improved IT asset life cycle visibility and bundled offerings specific to enterprise requirements will be the key trends for market growth. The hybrid deployment model for ITAM software is gaining pace over the cloud-based model. In order to overcome the shortcomings of both on-premises and SaaS models, some customers prefer a hybrid model. Hybrid models are flexible and offer customization to suit the needs of customers. As this model provides automatic upgrades and the ability to handle complex IT transactions, it is also one of the most advanced models of deployment. Firms that want to increase their ITAM capabilities without adding servers or related infrastructure are interested in hybrid models.

Complete report on IT asset management market spread across 70 pages, analyzing 7 major companies and providing 30 data exhibits is now available at http://www.rnrmarketresearch.com/global-it-asset-management-market-2016-2020-market-report.html.

The analysts forecast global IT asset management market to grow at a CAGR of 7.52% during the period 2016-2020. According to the 2016 IT asset management market report, one of the key drivers for market growth will be the growing demand for cloud-based IT Asset Management software. For most organizations, the key benefit of cloud-based ITAM software is the associated cost benefit, especially because of its subscription-based pricing model. This means firms pay a subscription fee on a monthly or yearly basis, which covers everything from operations to maintenance. This model is affordable for most companies. As all hardware and software components are integrated into the cloud, there is no need for any IT infrastructure to be built at the firm's end. Also, there is no need for storage and network equipment, which reduces the need for staff required to maintain it.

In terms of geography, the Americas dominated IT asset management market during 2015 and accounted for an impressive market share of more than 55% by 2020. The presence of large enterprises, availability of high-speed broadband networking, and an increase in the number of hosted servers are the key factors responsible for the strong growth of this market. In the Americas, the US and Canada are the two major revenue-generating regions as both these countries exhibit the extensive adoption of cloud-based services by enterprises and government organizations.

The enterprises segment dominated IT asset management market by accounting for a market share of more than 80%. The extensive use of enterprise communication products and services will lead to the steady growth of this market segment during the forecast period. Within the enterprises segment, the IT division dominated the market space and was closely followed by the BFSI segment. The adoption of ITAM software by IT enterprises will increase significantly during the forecast period due to advantages like visibility, cost cutting, increased software ROI, and operational efficiency.

The following companies are the key players in the global IT asset management market: CA Technologies, IBM, Oracle, SolarWinds, BMC, Snow Software, and Livingstone. Other prominent vendors in the market are: Agiloft, Axios, Cherwell, Eracent, Express Metrix, Freshservice, HP, Innotas, InvGate, iQuate, Kaseya, LabTech, Landesk, Provance, Samanage, ServiceNow, Symantec, SysAid, and Vector Networks. Order a copy of Global IT Asset Management Market 2016-2020 report @ http://www.rnrmarketresearch.com/contacts/purchase?rname=664354.

Global IT Asset Management Market 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers market landscape and its growth prospects over the coming years. The global IT asset management market report focuses on the major drivers of the market. In addition, it outlines the challenges faced by vendors and the market at large, as well as the key emerging trends.

Another related report is Global Enterprise Information Management Market 2016-2020, a key growth driver is the increased need to comply with regulatory requirements. Organizations are subject to follow regulatory requirements to manage corporate data. Governments worldwide are enforcing acts and policies such as Sarbanes-Oxley Act (SOX) in the US, the Health Insurance Portability and Accountability Act (HIPAA) in the US, and data breach notification laws that companies need to comply for conducting business effectively. SOX details various controls essential for handling financial information. HIPAA establishes instructions to secure and deal with protected health information. Browse complete report @ http://www.rnrmarketresearch.com/global-enterprise-information-management-market-2016-2020-market-report.html.

Explore other new reports on Information Technology & Telecommunication Market @ http://www.rnrmarketresearch.com/reports/information-technology-telecommunication.

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