software asset management Market

The global software asset management market is expected to grow from US$ 2,250.37 million in 2021 to US$ 5,150.51 million by 2028; it is estimated to grow at a CAGR of 12.6% from 2021 to 2028.

In addition to managing software assets, the software asset management market for cloud settings focuses on cost management, software portfolio management, and regulatory challenges. In cloud settings, where services are provided, configured, reconfigured, and released in a matter of minutes, software asset management (SAM) as a process must adapt to the quick speed of change. The various cloud approaches - infrastructure as a service (IaaS), platform as a service (PaaS), and software as a service (SaaS) - have varying effects on the software asset management market, and organizations will need to carefully and proactively consider the impact their cloud strategy has on their software asset management market programs, in general, and specifically on their software licensing.

The COVID-19 pandemic has benefited the software asset management market. Businesses are facing new challenges due to the COVID-19 pandemic such as the development of remote work environments. The COVID-19 outbreak has highlighted the necessity to adopt digital technologies and leverage the potential of software asset management solutions and services to optimize licenses and costs and increase ROI on IT assets. Further, the pandemic's arrival in 2020 has prompted a slew of challenges for global market operations. Because developed economies' healthcare infrastructures have collapsed as a result of rising cases, the public healthcare emergency will require the government and market players to intervene and assist in the revival of market operations and revenue through collaborative efforts of research and development initiatives undertaken to recover the losses during the forecast period, which ends in 2028. In addition, the increased investments bode well for the industry in the following years.

Microsoft Corporation; IVANTI; SNOW SOFTWARE; BMC SOFTWARE, INC.; CERTERO; FLEXERA; IBM Corporation; MICRO FOCUS; SERVICENOW; and BROADCOM, INC. are the key companies operating in the software asset management market. The report comprises secondary research work on other companies that hold a significant market share.

The overall software asset management market size has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. The process also serves the purpose of obtaining an overview and forecast for the software asset management market with respect to all the segments pertaining to the region. Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data and gain more analytical insights into the topic. The participants of this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the software asset management market.