What Has Been Information Technology (IT) Asset Management Software Market in Recent Years?
The information technology (it) asset management software market has seen considerable growth due to a variety of factors.
• Recently, there has been a powerful growth in the market for information technology (IT) asset management software. The market, which was valued at $4.33 billion in 2024, is expected to expand to $4.7 billion in 2025, with an annual compound growth rate (CAGR) of 8.7%.
The growth during the historical period can be linked to several factors: the swell of digital transformation, the increased complexity of IT environments, the escalating need for compliance and regulatory demands, the spread of mobile work and remote working, the escalating costs associated with IT assets, and a surge in the demand for greater operational efficiency and more effective asset utilization.
What Is the Forecasted Market Size and Growth Rate for The Information Technology (IT) Asset Management Software Market?
The information technology (it) asset management software market is expected to maintain its strong growth trajectory in upcoming years.
• In the coming years, the market size for information technology (IT) asset management software is predicted to experience robust growth. By 2029, its value is projected to reach $6.49 billion, with a compound annual growth rate (CAGR) of 8.4%.
This growth within the forecast period is primarily due to an increase in the complexity of IT assets, heightened demand for regulatory compliance, the need for cost optimization, the rise of remote work, and an intensified emphasis on cybersecurity. Key trends predicted for this period include the utilization of AI and machine learning for predictive analytics, cloud service integration, automated asset management tasks, enhancements in mobile and remote management capabilities, and advancements in cloud computing.
What Are the Critical Driver Fuelling the Information Technology (IT) Asset Management Software Market's Growth?
The anticipated growth of the information technology (IT) asset management software market is likely to be driven by the ongoing expansion of cloud computing. This computing model lets users demand several computing resources over the internet, such as servers, storage, and programs, without having to purchase or oversee the physical hardware. Cloud computing is increasingly favored for its cost-effectiveness, scalability, and adaptability, letting businesses adjust resources without expenditure on costly infrastructure and hardware. Tools for tracking and managing cloud resources, ensuring compliance, optimizing asset utility, and amalgamating various cloud services to enhance overall control and efficiency are provided by IT asset management software. As an example, the European Commission, a Belgium-based governmental entity, reported in April 2024 that there was a six percentage point increase to 77.6% in large enterprises utilizing cloud computing services in 2023, compared to 2021. Medium-sized businesses also saw cloud service adoption grow from 53% in 2021, to 59% in 2023. It is thus clear that the surge in cloud computing is fueling the growth of the IT asset management software market.
What Key Areas Define The Segmentation Of The Global Information Technology (IT) Asset Management Software Market?
The information technology (IT) asset management software market covered in this report is segmented –
1) By Component: Hardware, Software, Service
2) By Tools: Discovery Or Automated Inventory, License Management, Patch And Version Management, Request Management, Product Or Service Catalog, Digital Asset Management, Other Tools
3) By Deployment: Cloud, On-Premise
4) By Organization Size: Small And Medium Enterprises (SMEs), Large Enterprise
5) By End User Industry: Information Technology (IT) And Telecom, Banking, Financial Services, And Insurance (BFSI), Healthcare, Retail, Manufacturing, Government, Other End Users
Subsegments:
1) By Hardware: Servers And Data Center Hardware, Networking Equipment, End-User Devices, Storage Devices Printers And Peripherals
2) By Software: Asset Tracking And Monitoring Software, License Management Software, Inventory Management Software, Configuration Management Software, Cloud-Based IT Asset Management Software, Mobile Device Management (MDM) Software
3) By Service: IT Asset Management Consulting Services, Implementation And Integration Services, Maintenance And Support Services, Training And Support Services, Cloud Migration Services
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How Are Emerging Trends Reshaping The Dynamics Of The Information Technology (IT) Asset Management Software Market?
Prominent players in the IT asset management software market are emphasizing on state-of-the-art technologies like the incorporation of cloud services within asset management software to augment scalability, sharpen real-time data accessibility, and simplify the processes of asset tracking and management across spread-out environments. The integration of cloud services in such software refers to the use of cloud-supported tools and platforms within the software that is responsible for monitoring and handling an organization's assets. For example, in March 2022, a product called Aptean EAM was launched by Aptean. This cloud-driven asset management instrument is crafted for manufacturing industries and enterprises with intricate equipment. It spans from a simple computerized maintenance management system (CMMS) to a comprehensive EAM system, fitting the need of small to medium-sized companies. With features like advanced analytics, work order management, automated approvals, and inventory tracking, this platform makes preventive maintenance more efficient. Its intuitive design ensures effortless installation and enhances operational efficiency throughout manufacturing sites.
Who Are the Key Players in the Information Technology (IT) Asset Management Software Market?
Major companies operating in the information technology (IT) asset management software market are include:
•Deloitte
• International Business Machines Corporation
• HP Inc.
• Broadcom Inc.
• SAP SE
• Salesforce Inc.
• ServiceNow Inc.
• BMC Software Inc.
• Atlassian Corporation
• Micro Focus International plc
• Zoho Corporation
• IFS AB
• Quest Software Inc.
• Ivanti Software Inc.
• SolarWinds Corporation
• Freshworks Inc.
• Flexera Software LLC
• ASG Technologies Group Inc.
• TOPdesk
• Chevin Fleet Solutions
• Lansweeper
• Spiceworks Inc.
• Agiloft Inc.
• SysAid Technologies
• InvGate
What Is The Most Dominant Region In The Information Technology (IT) Asset Management Software Market?
North America was the largest region in the information technology (IT) asset management software market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the information technology (IT) asset management software market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
