IT Asset Management Software (ITAM) Market is estimated to grow at a CAGR of 8% | Industry by Component, Deployment, Tools, Organization Size and End-Users

“IT Asset Management Software Market Size”
IT Asset Management Software Market information research report, by Deployment (on-premise IT asset management software, cloud-based IT asset management software and hybrid IT asset management software), by type (hardware asset management, software asset management) – Global Forecast 2023

Market Insights:

Market Research Future (MRFR) has projected in its latest report that the global IT asset management software market is poised to strike a robust CAGR of 8% during the forecast period 2017 to 2023. The market is estimated to reach a valuation of USD 3 Bn towards the end of 2023. The software has developed a significant role in devising growth strategies of enterprises which is likely to accelerate its adoption over the next couple of years.

The major factor responsible for favoring the growth of the IT asset management software market includes the growing need for achieving optimum productivity of the organization by the deployment of advanced technologies. Furthermore, the reduced cost of software licensing is further expected to aid the market proliferation across the review period.

Industry Developments:

In May 2018, Freshworks, a leading business software company, has announced its plan of expansion in Africa with committed investments and strategic focus on Kenya and Nigeria.

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Major key Players

Some of the key players profiled by MRFR in the report are Freshworks Inc. (U.S.), BMC Software (U.S.), Samanage Ltd (U.S.), Microsoft Corporation (U.S.), Wasp Barcode Technologies (U.S.), IBM Corporation (U.S.), HP, Inc (U.S.), Oracle Corporation (U.S.), Landesk Software (U.S.), CA Technologies (U.S.), Dell, Inc (U.S.), Symantec Corporation (U.S.), Ivanti (U.S.), Spiceworks Inc. (U.S.), Summit Software Pty Ltd (Australia), CGI Group Inc (Canada), Dude Solutions Inc (U.S.), eMaint (U.S.), IFS AB (Sweden), Infor (U.S.), SysAid Technologies Ltd (Israel), ServiceNow, Inc (U.S.), Asset Panda (U.S.), GRAGA Software Solutions Pty Ltd (Australia), and xAssets (U.K).

According to MRFR, Global IT Asset Management Software Market is estimated to grow at a CAGR of 8% during the forecast period 2017-2023

Market Segmentation:

By component, the IT asset management software market is segmented into hardware, software, and services. The software segment is further sub-segmented into in-house developed software, and software licenses (COTS). The services segment is sub-segmented into professional and managed services.

By tools, the global IT asset management software market has been segmented into discovery/automated inventory, license management, patch & version management, request management, product/service catalog, digital asset management, and others.

By organization size, the IT asset management software market is segmented into small and medium enterprise, and large enterprise.

By end-user, the global IT asset management software market has been segmented into banking & financial service, retail, aerospace & defense, IT & telecom, energy & power, automotive & transportation, and others

By deployment, the IT asset management software market is segmented into on cloud, on-premise, and hybrid.

Regional Analysis:

By region, the global IT asset management software market has been segmented into North America, Europe, Asia Pacific, and the Rest of the World. North America is projected to dominate the global market owing to favorable factors such as strict laws and regulations regarding the purchase of assets, massive investments in technology, lifecycle management of complex software, etc. Europe is anticipated to secure the second position in the global IT asset management software market owing to rapid technological advancements witnessed in the region over the past few years. Additionally, the presence of developed economies such as Germany, the U.K, and France is likely to catalyze the adoption of the technology. Meanwhile, Asia Pacific is estimated to exhibit a relatively steeper rise in the growth of the regional market through the assessment period.

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Intended Audience

  • Professional Service Provider
  • Advisory firms
  • Training Service Providers
  • Support and Maintenance Service Providers
  • Software Developers
  • Procurement Managers
  • Distribution Centers
  • Manufacturing Companies

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