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 report on the global IT Asset Management Software market covers historical market trends, current market dynamics, market valuation by segmentation as well as region, country-level analysis for every segment, key player’s market share analysis, competitive landscape and supply chain analysis.
Asset management is essential for an organization to maintain the cost of purchases of assets and to monitor their asset usage. The software which is used to monitor IT-related assets in an enterprise is referred to as IT asset management software. The IT assets include the hardware component as well as the software component. IT asset management software has a prominent role in the growth strategy of an enterprise. It helps the senior level management to make accurate purchase decisions. IT asset management is also referred to as IT inventory management as it largely involves the collection of information, regarding hardware and software used in an organization.
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Major key Players
- Freshworks Inc. (U.S.),
- BMC Software (U.S.),
- SysAid Technologies Ltd (Israel),
- ServiceNow, Inc (U.S.),
- Asset Panda (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.),
Other vendors include Dell, Inc (U.S.), Symantec Corporation (U.S.), Ivanti (U.S.), Spiceworks Inc. (U.S.), GRAGA Software Solutions Pty Ltd (Australia), xAssets (U.K), Summit Software Pty Ltd (Australia), CGI Group Inc (Canada), Dude Solutions Inc (U.S.), eMaint (U.S.), IFS AB (Sweden), Infor (U.S.) among others.
According to MRFR, Global IT Asset Management Software Market is estimated to grow at a CAGR of 8% during the forecast period 2017-2023
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.
The global IT Asset Management Software market is estimated to grow at a significant rate during the forecast period due to higher demand for faster and secure storage devices. The geographical analysis of IT Asset Management Software market marks the study for regions like North America, Europe (including Russia), Asia Pacific (including Australia and New Zealand) and rest of the world (including the Middle East, Africa, and South America). Among the regions mentioned above, at present, the market is highly dominated by North America due to high investment in technology, catering the needs of lifecycle management of complex software, and strict laws and regulations regarding the purchase of assets. These factors encourage the enterprises to adopt a technology that can reduce variable cost of purchases and also maintain balance by having a record of demand and supply.
On the other hand, Europe ranks second in terms of market share in the IT asset management software market due to the heavy industrialization in past decade in various technologically matured countries like Germany, the U.K, and France. However, Asia Pacific is also expected to show the highest growth rate during the forecast period.
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- Professional Service Provider
- Advisory firms
- Training Service Providers
- Support and Maintenance Service Providers
- Software Developers
- Procurement Managers
- Distribution Centers
- Manufacturing Companies
LIST OF TABLES
Table 1 World Population by Major Regions (2017 To 2030)
Table 2 Global IT Asset Management Software Market: By Region, 2017-2023
Table 3 North America IT Asset Management Software Market: By Country, 2017-2023
Table 4 Europe IT Asset Management Software Market: By Country, 2017-2023
Table 5 Asia Pacific IT Asset Management Software Market: By Country, 2017-2023
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