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Software Asset Management Market Worth $2.32 Billion by 2022 - Exclusive Report by MarketsandMarkets™

CHICAGO, Sept. 18, 2019 /PRNewswire/ -- According to a market research report "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", published by MarketsandMarkets™, the Software Asset Management Market to grow from USD 1.16 billion in 2017 to USD 2.32 billion by 2022, at a Compound Annual Growth Rate (CAGR) of 14.8% during the forecast period.

Browse in-depth TOC on "Software Asset Management Market"
72 – Tables
39 – Figures  
135 – Pages     

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Healthcare and life sciences is expected to be one of the fastest growing industry verticals in terms of the Software Asset Management Market. It is in fact, a highly regulated one. Software asset management solutions can help healthcare organizations, hospitals, and clinics in tracking, monitoring, and managing their software assets to improve the efficiency. Healthcare institutions using software asset management solutions for operational activities and management of medical devices have to adhere to regulations as per the laws of governing bodies. In the recent years, the focus on the healthcare and life sciences industry vertical is increasing across regions. The risk associated with selecting and managing the appropriate software is of utmost importance to this industry vertical. The strict laws governing the healthcare and life sciences industry vertical encourage the healthcare companies to adopt effective software asset management solutions and associated services.

Compliance management solutions help organizations meet company-specific business practices and government regulations. They also help organizations analyze compliance gaps, identify the risk parameters relevant to regulations, prioritize remediation, and respond to the overlapping compliance standards. The improper management of compliance can result in audit penalties. Audit management solutions generate comprehensive reports that comprise information about the usage of software assets, factual evaluation of the software, its analysis, and license verification. These reports assist organizations in internal and external audits, thereby improving the business processes.

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Cloud services are provided directly through cloud-deployed network connectivity. These services help reduce overall costs, while also providing highly flexible and scalable access to solutions throughout the IT infrastructure hosted by a cloud service provider. Companies are deploying solutions on the cloud to improve mobility and decentralize their data storage and computing. Security is a critical issue that restricts the adoption of cloud services. However, this issue is being gradually solved by conducting rigorous security tests. Due to such advantages, many enterprises are switching from the on-premises deployment type to Software-as-a-Service (SaaS)-based software.

The managed services segment is expected to have a higher growth in this market. It is difficult for organizations to focus on their core business processes and support functions simultaneously. Therefore, these organizations prefer outsourcing their support activities to specialized service providers, known as managed service providers. Managed services assist the organizations in optimizing their software asset management practices in a cost-effective manner. They also ensure the smooth functioning of business operations. Moreover, the managed services help organizations in maximizing their productivity. CA Technologies, ServiceNow, and BMC Software are some of the providers of managed services in the Software Asset Management Market.

The major vendors in 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).

Browse Adjacent Markets: Software and Services Market Research Reports & Consulting

Related Reports:

License Management Market by Component (Software and Services), Application Area (Audit Services, Advisory Services, Compliance Management), Deployment Type, Organization Size, Industry Vertical, and Region - Global Forecast to 2022

https://www.marketsandmarkets.com/Market-Reports/license-management-market-45181555.html

Enterprise Asset Management Market by Component (Software and Services), Deployment Type (On-Premises and Cloud), Organization Size (SMES and Large Enterprises), Industry, and Region - Global Forecast to 2022

https://www.marketsandmarkets.com/Market-Reports/enterprise-asset-management-market-54576143.html  

About MarketsandMarkets™ 

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets's flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

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