Global IT Asset Management (ITAM) Software Market was valued US$ XX Mn in 2019 and is expected to reach US$ XX Mn by 2027, at a CAGR of 7.5% during the forecast period.
Global IT Asset Management (ITAM) Software Market
Global IT Asset Management (ITAM) Software Market Overview:
The software used for the implementation and to perform various operations of IT asset management activities is popularly known as IT asset management (ITAM) software. The purpose of supporting strategic decision-making as well as life cycle management in the IT sector, IT asset management software is used which is a group of business practices linking contractual, financial and inventory functions. IT asset management is a set of effective processes that empower companies to figure out information related with inventory or asset usage, locations, estimated duration to accomplish a particular task and other information, which help organization to take appropriate judgments at every level of life cycle. These many utilizations of IT asset management (ITAM) software that too at affordable cost along with improved productivity makes it most demanded in IT field and anticipates to bring excellent market growth during forecast period.
The report study has analysed revenue impact of COVID -19 pandemic on the sales revenue of market leaders, market followers and market disrupters in the report and same is reflected in our analysis.
Global IT Asset Management (ITAM) Software Market Dynamics:
The rising need for centralization and automation of IT establishments as the number of companies preferred for implementation and consolidation of centralized and streamlined IT operations. Furthermore, the focus of several companies is growing towards, the commitment to compliance policies and security. These factors are expected to positively drive the growth of the global IT asset management software market in the forecasted years.
Several other factors fuel growth of the global IT asset management software market. Such as this software enable companies to observe and report the utility of software installed and it also detects & report if there is a necessity of upgrading either the operating system or the software. In addition, IT asset management software has become the most powerful tool in the detecting of illegal installation, thus helping to prevent harmful vulnerabilities while determining compliance with universal security policies. These gains supported by IT asset management software have played a crucial role in boosting its demand and market growth worldwide.
Conversely, high cost of IT asset management software may impact adversely to the market growth as though it offered numerous benefits but several organizations planning to reduce their operational expenses may avoid installing IT asset management software. Such kind of issues may encounter more in underdeveloped and developing countries. However, the consistently growing demand from the government and energy and utilities industry will offer lucrative growth opportunities to the global market over the course of the forecast period.
Global IT Asset Management (ITAM) Software Market Regional Analysis:
North America stood as the leading player in the global IT asset management software market with US$ XX Mn in 2019. The speedily growing IT industry and rising awareness regarding the benefits of ITAM along with the stringent software audit policies and rising government regulations in North America are boosting the growth of the global IT asset management software market and expected to drive the market with highest CAGR XX% in the forecasted period. The Europe is experiencing the steady growth due to the rising demand for automation and centralization, this is anticipated to bring Europe market to US$ XX Mn by 2027 by maintaining CAGR of XX% during forecasted timespan. Similarly, the report covers the detail analysis of all the regions such as, Asia Pacific, Latin America, and Middle East & Africa. Their growth rate and the reason for growth along with the expected value to be reached by end of the 2027 are mentioned in the final report.
Global IT Asset Management (ITAM) Software Market Segmentation Analysis:
The global IT asset management software market is segmented on the basis of type, application and region. Based on the type, the global market is classified as software asset management and hardware asset management. Among these two software asset management segment held the largest share of US$ XX Mn in 2019 and expected to continue its dominance growing with CAGR XX% during forecasted period. This growth is attributed to the high demand among IT companies for software asset management. On the basis of application, the global IT asset management software market is segmented as telecom and IT, BFSI, pharmaceutical & medical, government, transportation, energy & utilities, healthcare, manufacturing, and others. These entire sectors have huge demand for IT asset management software but energy & utilities as well as government sector are growing rapidly with CAGR XX% and XX% respectively and are expected to be the major contributor in the global market growth for the forecasted years. Likewise, all the segments and their sub segments with their current market share, expected growth percentage, factors boosting & hampering the growth and region wise anticipated market share during the each year in forecast period along with their graphical representation are illustrated in the report.
Objective of the Report:
The objective of the report is to present a comprehensive analysis of the Global IT Asset Management (ITAM) Software Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The report also helps in understanding Global IT Asset Management (ITAM) Software Market dynamics, structure by analyzing the market segments and projects the Global IT Asset Management (ITAM) Software Market size. Clear representation of competitive analysis of key players by Application, price, financial position, Product portfolio, growth strategies, and regional presence in the Global IT Asset Management (ITAM) Software Market make the report investor’s guide.
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Scope of the Global IT Asset Management (ITAM) Software Market Report:
Global IT Asset Management (ITAM) Software Market, By Type:
• Hardware Asset Management
• Software Asset Management
Global IT Asset Management (ITAM) Software Market, By Application:
• IT & Telecom
• Pharmaceutical and Medical
• Energy & Utilities
Global IT Asset Management (ITAM) Software Market, By Region
• North America
• Asia Pacific
• Middle East & Africa
• South America
Key players operating in the Global IT Asset Management (ITAM) Software Market
• IBM Software,
• Scalable Software,
• Hewlett Packard,
• Real Asset Management,
• Chevin FleetWave,
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