PUNE, India, March 22, 2018 /PRNewswire/ --
ReportsnReports.com adds Software Asset Management Market is forecast to reach $2.32 billion by 2022 from $1.16 billion in 2017 at a CAGR of 14.8% during (2017-2022) driven by the increasing need to manage the life cycle of assets and compliance-readiness; Rapid adoption of software asset management solutions owing to strong and well-established economies is expected to make North America the largest regional market.
Browse 72 Market Data Tables and 39 Figures spread through 135 Pages and in-depth TOC on "Software Asset Management Market by Solution (License Management, Audit and Compliance Management, Software Discovery, Optimization, and Metering), Service, Deployment Type, Organization Size, Industry Vertical, and Region - Global Forecast to 2022" http://www.reportsnreports.com/reports/1401556-software-asset-management-market-by-solution-license-management-audit-and-compliance-management-software-discovery-optimization-and-metering-service-deployment-type-organization-size-industry-vertical-and-st-to-2022.html.
The software asset management market comprises major vendors such as 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).
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. Additionally, the increasing adoption of cloud and mobile technologies, and the growing trend of outsourcing a few operations to specialist companies have led to the rapid adoption of software asset management solutions in APAC countries, such as India, China, and Australia.
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The SMEs segment has a huge potential to flourish in the software asset management market during the forecast period. The 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.
The solution segment in Software Asset Management Market is expected to grow at a higher CAGR during the forecast period. Software discovery, optimization, and metering solution segment are 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. Due to the aforesaid benefits, the organizations adopt the discovery, metering, and optimization solution to ensure compliance, reduce their downtime, and make effective business decisions about their future software spending.
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The software asset management market has been segmented by component (solutions and services), deployment type, organization size, industry vertical, and region. The report segments the software asset management market comprehensively and provides the closest approximations of the revenue numbers for the overall market and its sub segments. The market numbers have been further split across different industry verticals and regions.
In the process of determining and verifying the software asset management market size for several segments and sub segments gathered through secondary research, extensive primary interviews were conducted with the key people. 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%
Another research titled Vendor Risk Management Market Global Forecast to 2022 says, the vendor risk management market size is expected to grow from $3.29 billion in 2017 to $6.50 billion by 2022, at an estimated CAGR of 14.6% during the forecast period. Compliance management solution is expected to hold the major market size during the forecast period. Small and Medium-sized Enterprises (SMEs) segment is expected to grow at a higher CAGR during the forecast period. Asia Pacific (APAC) is expected to have high growth potential during the forecast period. Companies such as BitSight Technologies (US), RSA (US), Genpact (US), LockPath (US), MetricStream (US), BWise (Netherlands), Resolver (Canada), SAI Global (Australia), Rsam (US), IBM (US), Optiv (US), Quantivate (US), RapidRatings (US), ProcessUnity (US), LogicManager (US), VendorInsight (US) have been profiled in this 122 pages research report available at http://www.reportsnreports.com/purchase.aspx?name=1354221.
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