Published: Oct, 2018

Some of the most prominent names in the global IT asset management software market have a very strong presence in North America, making the regional market an immensely competitive one. According to a study by Transparency Market Research (TMR), ServiceNow Inc., Cherwell Software Inc., Hewlett Packard Enterprise Development, and Aspera Technologies, Inc. are some of the leading names operating in the North America market. In order to gain competitive advantage the market players are focusing on mergers and collaborations and partnerships. Besides these, companies offer customized solutions to help customers meet the ever-rising complexities in the IT environment.

Between 2016 and 2024, the market is expected to rise at a CAGR of 6.9%. At this pace, the global IT asset management software market will reach US$13 bn by the end of 2024 as compared to US$708.9 mn in 2015. On the basis of size of enterprise, large enterprises will account for the leading share in the global market. Based on end use, IT and telecom sector is forecast to lead the global market. Regionally, the global IT asset management software market comprises Asia Pacific, Latin America, Europe, North America, and the Middle East and Africa. Among these regions, North America is forecast by TMR to continue dominating the global landscape through the course of the report’s forecast period.

it-asset-management-market

IT Asset Management Software Helps Recognizing Illegal Installation – a Key Factor Enabling Growth

Several factors will support growth of the global IT asset management software market, the rising focus on asset inventory management being one of them. The software allows organizations to monitor the utility of software bought and it also identifies if there is a need of upgrading either the operating system or the software. In addition to this, IT asset management software has proved helpful in the identification of illegal installation, thus preventing various vulnerabilities while ascertaining compliance with popular security policies. These advantages offered by IT asset management software have played a crucial role in fuelling its demand worldwide.

Furthermore, the rising demand for centralizing and automating IT infrastructure will give thrust to the market’s growth pace in the coming years. With an increasing number of enterprises around the world inclining towards consolidation, besides establishing centralized IT operations, the demand for IT asset management software is likely to surge further in the coming years.

High Cost of Deploying the Software May Hinder Trajectory to an Extent

On the downside, organizations struggling to reduce their operational expenses may find it difficult to deploy IT asset management software. This software incurs increased expenses, which may limit their implementation in organizations across underdeveloped countries. Nonetheless, the rising demand from energy and utilities industry will offer attractive growth opportunities to the global market over the course of the forecast period. Driven by this and several other factors the market will continue exhibiting a positive trajectory.

This review is based on a TMR report, titled “IT Asset Management (ITAM) Software Market (Enterprise Size - SMEs, Large Enterprise; Deployment - On Premise, Cloud, Hybrid; End Use - BFSI, Telecom and IT, Government, Healthcare, Transportation, Manufacturing, Energy and Utilities) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 – 2024.”

The report segments the global IT asset management software market as:

By Enterprise Size

  • SME
  • Large Enterprise 

By Deployment Type

  • On Premise
  • Cloud
  • Hybrid

By End Use

  • BFSI
  • Telecom and IT
  • Government
  • Healthcare
  • Transportation
  • Manufacturing
  • Energy and Utilities
  • Others

By Geography

  • North America
  • Europe
  • Asia Pacific
  • Middle East and Africa
  • Latin America

About Us

Transparency Market Research is a next-generation market intelligence provider, offering fact-based solutions to business leaders, consultants, and strategy professionals.

Our reports are single-point solutions for businesses to grow, evolve, and mature. Our real-time data collection methods along with ability to track more than one million high growth niche products are aligned with your aims. The detailed and proprietary statistical models used by our analysts offer insights for making right decision in the shortest span of time. For organizations that require specific but comprehensive information we offer customized solutions through adhoc reports. These requests are delivered with the perfect combination of right sense of fact-oriented problem solving methodologies and leveraging existing data repositories.

TMR believes that unison of solutions for clients-specific problems with right methodology of research is the key to help enterprises reach right decision.

Contact Us

Transparency Market Research
State Tower,
90 State Street,
Suite 700,
Albany NY - 12207
United States
USA - Canada Toll Free: 866-552-3453
Email: sales@transparencymarketresearch.com 
Website: https://www.transparencymarketresearch.com 

.