Software Asset Management Market

Market Leader - Software Asset Management Market

Software asset management solutions and services have been adopted by companies across the globe to assist them in optimizing their cost spending on software. Furthermore, these solutions enable detailed analysis and statistics about the position of the software by automating the software data collection, evaluating the compliances, and highlighting the opportunities to reduce costs and anticipate risks. The software asset management solutions consider various parameters that are relevant to product use rights and contract terms to determine and optimize the discovered software automatically. These solutions have rapidly become the most significant choice for managing various software, due to the rising complexity of software licensing schemes. MarketsandMarkets expects the software asset management market to grow from USD 1.16 Billion in 2017 to USD 2.23 Billion by 2022, at a Compound Annual Growth Rate (CAGR) of 14.8% during the forecast period.

Software asset management market segmentation consists of license Management, audit and compliance Management, software discovery, optimization, and metering, contract management, configuration Management, and others (reporting, analytics, and security). The major vendors of the software asset management market include 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), ServiceNow (US), Snow Software (Sweden), and Symantec (US). These players have adopted various growth strategies, such as partnerships, collaborations, agreements, mergers and acquisitions, and new product developments, to grow in the software asset management market.

Snow Software (Sweden), with a significant presence in the software asset management market, is aspiring to become the top market provider of software asset management by focusing on services, such as audit and compliance, and surveillance and analytics. In June 2017, Snow Software launched Snow Globe, an online community, to provide a central platform for users to interact with Snow Software experts for giving solutions to their product-related queries. The features of Snow Globe include Snow product hub, discussion forums, partner showcases, and product release news.

ServiceNow (US) is another top player in the software asset management market. The company offers cloud computing solutions that facilitate enterprises to automate and manage their business processes. In September 2017, ServiceNow partnered with Slack to power its new software with machine learning capabilities.

Related Reports:

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

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Report Code
TC 6097
Published ON
Mar, 2018
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