IT asset management is a layer of business practices that cover all the business units within an organization. IT asset management joins the financial, inventory, contractual, and risk management responsibilities to manage the overall life cycle of IT assets, including tactical and strategic decision making. Assets include all elements of software and hardware that are found in a business environment. Many small and large enterprises are commonly using IT asset management software these days.
MARKET SCOPE
The "Global IT Asset Management Market Analysis to 2028" is a specialized and in-depth study with a special focus on the global market trend analysis. The report aims to provide an overview of the IT asset management market with detailed market segmentation by deployment, enterprise size, end user, and geography. The report provides key statistics on the market status of the leading IT asset management market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
- Based on deployment, the global IT asset management market is segmented into cloud, and on premises.
- On the basis of enterprise size, the market is segmented into small and medium enterprises and large enterprises.
- Based on end user, the market is segmented into BFSI, IT and telecom, health care, transportation, manufacturing, and others.
MARKET DYNAMICS
Drivers:
- Advantages such as faster and easier assets inventory control, easy deployment, and the rising demand from businesses to lower operational expenditures are anticipated to boost the IT asset management market globally.
- Growing market attractiveness in emerging industry verticals especially healthcare is anticipated to further provide good opportunities to the players operating in the IT asset management market.
Restraints:
- Concerns around the compatibility of IT asset management software with various enterprise applications are one of the major restraining factors for the IT asset management market.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2019 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The IT asset management market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the IT asset management market in these regions.
IMPACT OF COVID-19 ON IT ASSET MANAGEMENT MARKET
COVID-19 first began in Wuhan (China) during December 2019 and since then it has spread at a fast pace across the globe. The US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are some of the worst affected countries in terms confirmed cases and reported deaths. The COVID-19 has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. Shutdown of various plants and factories has affected the global supply chains and negatively impacted the manufacturing, delivery schedules, and sales of products in global market. Few companies have already announced possible delays in product deliveries and slump in future sales of their products. In addition to this, the global travel bans imposed by countries in Europe, Asia-Pacific, and North America are affecting the business collaborations and partnerships opportunities.
MARKET PLAYERS
The report covers key developments in the IT asset management market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market players from IT asset management market are anticipated to lucrative growth opportunities in the future with the rising demand in the global market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the IT asset management market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
- Asset Panda
- BMC Software, Inc.
- USU Software AG
- Flexera
- Freshworks Inc.
- Hewlett Packard Enterprise Development LP
- SolarWinds Worldwide, LLC.
- Ivanti
- ServiceNow Inc.
- Synetic Technologies