What Has Been the Progress and Growth of the Software Asset Management Market in Recent Years?
The software asset management market has seen considerable growth due to a variety of factors.
• The market size for software asset management has seen a significant surge in recent years. The market, which was valued at $3.64 billion in 2024, is projected to expand to $4.36 billion in 2025, representing a compound annual growth rate (CAGR) of 19.9%.
The historic period's growth can be traced back to the increasing intricacy of software licensing, growing embrace of cloud-based technologies, an upsurge in the adoption of cloud platforms, escalating complexity in software management, and heightened demand for optimized assets.
What Can Be Expected from the Software Asset Management Market Size?
The software asset management market is expected to maintain its strong growth trajectory in upcoming years.
• The market for software asset management is predicted to increase significantly in size in the coming years, reaching an estimated total of $8.93 billion by 2029. This growth, representing a compound annual growth rate (CAGR) of 19.7%, is expected to be driven by several factors during the forecast period.
These include the emergence and adoption of cloud-based and Software as a Service (SaaS) solutions, the increasing prevalence of the Boyd culture, a rise in the number of audits, the growing intricacies of modern IT infrastructures, and a burgeoning tech startup sector. Looking forward into the forecast period, key trends expected to influence the market include technological innovation, the adoption of cloud-based solutions, advances in software asset management technologies, ongoing digital transformation efforts, and the increased demand for powerful tools.
What Are the Critical Driver Fuelling The Software Asset Management Market's Growth?
The software asset management market is predicted to see substantial growth driven by the escalating utilization of cloud and SaaS solutions. Cloud-based solutions, which are services or applications hosted on distant servers and accessed via the internet, along with SaaS (Software as a Service) solutions offering software applications managed and delivered through the cloud, eliminate the necessity for onsite installations or infrastructure. These solutions are increasingly popular due to their adaptability, cost-effectiveness, remote access, and their capacity to enhance software management with automated updates and improved security. Software asset management (SAM) aids this process by offering visibility into software usage, optimising license management, ensuring compliance, and managing costs, thereby enabling a smooth transition for businesses to cloud-based environments. For example, a report published by Google Cloud, a US-based cloud computing service, in September 2022, revealed that the usage of multiple public clouds rose by 26% in 2022, up from 21% in 2021. Additionally, hybrid cloud utilization has been observed to increase as well, from 25% in 2021 to 42.5% in 2022. Consequently, this rising adoption of cloud and SaaS solutions propels the growth of the software asset management market.
How Is The Software Asset Management Market segmented?
The software asset management market covered in this report is segmented –
1) By Component: Solutions, Services
2) By Deployment Model: On-premise, Cloud-based
3) By Organization Size: Small, Medium, Large
4) By End-User: Banking Financial Services And Insurance (BFSI), Information Technology (IT) And Information Technology Enabled Services (ITeS), Telecom, Manufacturing, Retail And E-Commerce, Government, Healthcare And Life Sciences, Education, Media And Entertainment
Subsegments:
1) By Solutions: Software License Management, Software Compliance Management, Software Deployment And Installation, Software Inventory Management, Software Usage Tracking
2) By Services: Consulting And Advisory Services, Implementation And Integration Services, Training And Support Services, Managed Services, Maintenance And Upgrades
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What Trends Are Shaping The Software Asset Management Market?
Major companies operating in the software asset management market are developing automated solutions to enhance software tracking, optimize license usage, and ensure compliance with regulatory requirements. Automated solutions leverage artificial intelligence (AI), machine learning (ML), and cloud-based technologies to streamline software audits, detect unused or underutilized licenses, and minimize financial risks associated with non-compliance. For instance, in March 2023, Anglepoint Inc., a US-based technology asset management services company, launched the IBM Licensing for Software Asset Management app, which allows the ability to measure IBM sub-capacity for software under the IBM authorized SAM provider (IASP) program, simplifying the management of IBM software licenses within the ServiceNow platform. It provides access to IBM licensing expertise, enhances visibility and confidence in managing IBM assets, identifies opportunities for cost reduction, and integrates seamlessly with ServiceNow's Software Asset Management Platform (SAMP), ensuring better optimization of IBM software licensing spend.
Who Are the Key Players In The Software Asset Management Market?
Major companies operating in the software asset management market are:
• Microsoft Corporation
• Deloitte Touche Tohmatsu Limited
• International Business Machines Corporation (IBM)
• Broadcom Inc.
• HCL Technologies
• ServiceNow Inc.
• Ivanti Inc.
• Symphony SummitAI
• Flexera Software
• Snow Software
• USU Software AG
• Matrix42 AG
• Alloy Navigator Inc.
• Zluri Technologies Inc.
• BMC Software Inc.
• Anglepoint Inc.
• SysAid Technologies Ltd.
• Livingstone Technologies Ltd.
• Belarc Inc.
• Eracent Inc.
• Asset Panda Inc.
• Xensam Technologies Inc.
• Certero Ltd.
• ITAM Review Ltd.
• Softline International.
What Is The Most Dominant Region In The Software Asset Management Market?
North America was the largest region in the software asset management market in 2024. The regions covered in the software asset management market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
