Global 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. 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.

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. 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
Investors