IT Asset Management Software Market Share, Growth Factors, Comprehensive Research, Analysis by Leading Companies with Forecast till 2027 | Coronavirus Effects
Market Highlights
The
IT assets include the hardware component as well as the software component. IT
asset management software has a prominent role in the growth strategy of an
enterprise. It helps the senior level management to make accurate purchase
decisions. IT asset management is also referred to as IT inventory management
as it largely involves the collection of information, regarding hardware and
software used in an organization.
The
IT asset management software market is estimated to reach a valuation of USD 3
Bn towards the end of 2023. The software has developed a significant role in
devising growth strategies of enterprises which is likely to accelerate its
adoption over the next couple of years.
Additionally,
the reduced cost of software licensing by relocating non-utilized resources is
expected to fuel the growth of the market. IT asset management can be
categorized as hardware asset management, digital asset management, and
software asset management.
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Regional Analysis:
On
the basis of geography, the market is studied for North America, Europe, Asia
Pacific, and rest of the world. Among the regions mentioned above, at present,
the market is highly dominated by North America due to the high investment in
technology, catering the need of lifecycle management of complex software, and
strict laws and regulations. These encourage the enterprises to adopt
technology to reduce variable cost of purchases and also maintain l balance by
having a record of demand and supply.
On
the other hand, Asia Pacific is expected to show the highest growth in the
market. This is due to the emergence of organizations in manufacturing,
software development wherein there is a need for monitoring the assets of the enterprises
that are being deployed on a higher scale. In addition to the substantial
presence of industries, the region has seen an increase in the adoption of
cloud services. The manufacturers in Asia Pacific are becoming more and more
advanced by deploying newer technologies to monitor and improve their
efficiency.
Competitive Dashboard:
Some
of the key players profiled by MRFR in the report are Freshworks Inc. (U.S.),
BMC Software (U.S.), Samanage Ltd (U.S.), Microsoft Corporation (U.S.), Wasp
Barcode Technologies (U.S.), IBM Corporation (U.S.), HP, Inc (U.S.), Oracle
Corporation (U.S.), Landesk Software (U.S.), CA Technologies (U.S.), Dell, Inc
(U.S.), Symantec Corporation (U.S.), Ivanti (U.S.), Spiceworks Inc. (U.S.),
Summit Software Pty Ltd (Australia), CGI Group Inc (Canada), Dude Solutions Inc
(U.S.), eMaint (U.S.), IFS AB (Sweden), Infor (U.S.), SysAid Technologies Ltd
(Israel), ServiceNow, Inc (U.S.), Asset Panda (U.S.), GRAGA Software Solutions
Pty Ltd (Australia), and xAssets (U.K).
Segmentation:
By
component, the IT asset management software market is segmented into hardware,
software, and services. The software segment is further sub-segmented into
in-house developed software, and software licenses (COTS). The services segment
is sub-segmented into professional and managed services.
By
tools, the global IT asset management software market has been segmented into
discovery/automated inventory, license management, patch & version
management, request management, product/service catalog, digital asset
management, and others.
By
organization size, the IT asset management software market is segmented into
small and medium enterprise, and large enterprise.
By
end-user, the global IT asset management software market has been segmented
into banking & financial service, retail, aerospace & defense, IT &
telecom, energy & power, automotive & transportation, and others
By
deployment, the IT asset management software market is segmented into on cloud,
on-premise, and hybrid.
Industry Developments:
In
May 2018, Freshworks, a leading business software company, has announced its
plan of expansion in Africa with committed investments and strategic focus on
Kenya and Nigeria.
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List of Tables
Table1
World Population By Major Regions (2017 To 2030)
Table2
Global IT Asset Management Software Market: By Region, 2017-2023
Table3
North America IT Asset Management Software Market: By Country, 2017-2023
Table4
Europe IT Asset Management Software Market: By Country, 2017-2023
Table5
Asia Pacific IT Asset Management Software Market: By Country, 2017-2023
Table6
The Middle East & Africa IT Asset Management Software Market: By Country,
2017-2023
Table7
Latin America IT Asset Management Software Market: By Country, 2017-2023
Table8
Global IT Asset Management Software By Component Market: By Regions, 2017-2023
Table9
North America IT Asset Management Software By Component Market: By Country,
2017-2023
Table10
Europe IT Asset Management Software By Component Market: By Country, 2017-2023
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