Software Asset Management Market 2022 to 2030 Latest Industry Trends, Overview of Segments, New Technology and Growth Analysis

Software asset management market to reach USD 5.4 billion by 2027. Global software asset management market is valued approximately at USD 1.7 billion in 2020 and is anticipated to grow with a healthy growth rate of about 18.1% over the forecast period 2021-2027.

Software asset management refers to a business practice which involves management and optimization of the deployment, maintenance, purchase, utilization, and disposal of the software application within an organization. Software asset management can serve a range of functions within an organization, depending on their IT infrastructures, software portfolios, business goals and resource availability. The global software asset management market is being driven by simpler management and lower software spent cost and rising need to manage audits and meet regulatory compliance standards. Furthermore, evolution of IoT and the rapidly growing number of IoT devices will provide new opportunities for the global software asset management industry.

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IoT enabled asset management makes use of sensors which empowers organizations to know information regarding their assets, eliminating the requirement for human effort. Hence, with growth in the IoT connected devices, the demand for software asset management is likely to increase. According to Statista, the total installed base of IoT active device connections across the globe amounted is expected to increase from 10 billion in 2019 and is expected to reach 30.9 billion units by 2025. Hence, this is expected to fuel developments in the mart and hence this is expected to boost the market growth. However, budget constraints and lack of awareness among SMEs may impede market growth over the forecast period of 2021-2027.

The regional analysis of the global software asset management market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America accounts for the largest share in terms of market revenue in the global software asset management market over the forecast period 2021-2027. Factors such as increasing requirement to optimize software licensing cost, manage audits in order to meet compliance standards, presence of majority of the key market players, etc. contribute towards the largest market share of the region in the forecast years.

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Major market player included in this report are:
Snow Software
Flexera
USU Software AG
Ivanti
BMC Software
ServiceNow
Certero
Matrix42
Broadcom
Eracent

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.

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The detailed segments and sub-segment of the market are explained below:

By Component:
Solutions
Services
By Deployment Model:
On-premises
Cloud
By Organization Size:
Large Enterprises
SMEs
By Vertical:
BFSI
IT and ITeS
Telecom
Manufacturing
Retail and eCommerce
Government
Healthcare and Life Sciences
Education
Media and Entertainment
Others
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE

Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World

Furthermore, years considered for the study are as follows:

Historical year – 2018, 2019
Base year – 2020
Forecast period – 2021 to 2027.

Target Audience of the Global Software Asset Management Market in Market Study:

Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers

Final Report will add the analysis of the impact of COVID-19 on this industry."

a large number of indigenous manufacturers of syringes and needles have managed to come up. However, it does not mean that imports are low for this market. Imports, as in the case with other medical devices, are quite high but the domestic manufacturers have been able to tap foreign markets through increasing exports. The target base of consumers is growing steadily which is expected to significantly boost sales in the market.

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It begins with the introduction section which mentions the features and uses of syringes and needles along with a brief description of the various phases in their development. The market overview section provides an insight into the market and highlights the market size. Import and export figures for syringes and needles, both in terms of volume and value have been provided in the next section. It also includes the regional break-up of the imports and exports.

An analysis of the drivers explains the factors leading to the growth of the market which include increasing need of insulin doses, increasing demand for vaccines, improving health infrastructure, growing incidence of diseases, changing demographics and health check-up packages. Some of the major challenges to the market are illegal recycling of syringes and needles and problems associated with usage. Government legislation in the market has been discussed in the next section.
The competition section highlights the features of the major players operating in the market. A brief profile of the major domestic and foreign players in the market along with their financials has been included in this section.

A section providing strategic recommendations has been given at the end of the report which gives effective solutions to existing and potential players for improving market share and increasing profitability. The Market report answers the following questions:

What is the aim of the report?

Based on various indicators, the Year-on-Year growth (%) and compound annual growth rate (CAGR) for the given forecast period is offered.
An overview of the Market based on geographical scope, market segmentation and financial performance of key players is presented in the report.
The report presents current trends in the industry and future scope of the Market in North America, Asia Pacific, Europe, Latin America and Middle East and Africa.
The various parameters accelerating the growth of Market are incorporated in the research report.
The report analyses growth rate, market size and valuation of the Market during the forecast period.

What aspects regarding the regional analysis Market are included in this report?

Geographical regions covered in the report include North America, Europe, Asia Pacific, Latin America and Middle East and Africa region.
The report consists of detailed region-wise analysis of current and future market trends, providing information on product usage and consumption.
The growth rate of the market in every region, including their countries over the forecast period is included in the market report.
Based on what factors are the key market players assessed in this report?
The report offers detailed analysis of leading companies in the market across the globe.
It provides details of the major vendors involved in the Market including Key Players
A comprehensive overview of each company including the company profile, generated revenue, pricing of goods and
the manufactured products is incorporated in the report.
The facts and figures about market competitors along with standpoints of leading market players are presented in the report.
The recent developments, mergers and acquisitions related to mentioned key players are provided in the market report.

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What is the key information extracted from the report?

Extensive information on factors estimated to affect the Market growth and market share during the forecast period is presented in the report.
The report offers the present scenario and future growth prospects Market in various geographical regions.
The competitive landscape analysis on the market as well as the qualitative and quantitative information is delivered.
The SWOT analysis is conducted along with Porter's Five Force analysis.
The in-depth analysis provides an insight into the Market, underlining the growth rate and opportunities offered in the business.

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Source - HeraldKeeper
Note: The Heraldkeeper News Department was not involved in the creation of this content.

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