Software Asset Management Market Research Report and Outlook by 2028

The worldwide market for software asset management is projected to expand from approximately US$ 2,250.37 million in 2021 to around US$ 5,150.51 million by 2028, reflecting a compound annual growth rate (CAGR) of 12.6% during the period from 2021 to 2028.

Beyond the management of software assets, the software asset management sector in cloud environments emphasizes cost control, management of software portfolios, and addressing regulatory issues. In cloud environments, where services can be deployed, modified, and launched within minutes, the software asset management (SAM) process must evolve to keep pace with this rapid transformation. Different cloud models?such as infrastructure as a service (IaaS), platform as a service (PaaS), and software as a service (SaaS)?impact the software asset management landscape in distinct ways. Organizations must proactively assess how their cloud strategies influence their software asset management initiatives and, more specifically, their software licensing practices.

The COVID-19 pandemic has positively influenced the software asset management sector. Companies are encountering new hurdles due to the pandemic, particularly with the rise of remote work environments. The outbreak has underscored the importance of adopting digital solutions and maximizing the benefits of software asset management tools and services to optimize licensing, manage costs, and enhance the return on investment (ROI) for IT assets. Furthermore, the onset of the pandemic in 2020 has introduced numerous challenges for global market operations. The healthcare systems in developed nations have been strained due to increasing case numbers, necessitating government and market stakeholders to collaborate in revitalizing market activities and revenue streams through joint research and development efforts aimed at recovering losses throughout the forecast period, which concludes in 2028. Additionally, the surge in investments is promising for the industry in the coming years.

Key players in the software asset management market include Microsoft Corporation, IVANTI, SNOW SOFTWARE, BMC SOFTWARE, INC., CERTERO, FLEXERA, IBM Corporation, MICRO FOCUS, SERVICENOW, and BROADCOM, INC. The report also includes secondary research on other significant companies that hold a considerable share of the market.

The overall size of the software asset management market has been calculated using both primary and secondary research methods. The research process commenced with extensive secondary research utilizing both internal and external sources to gather qualitative and quantitative data related to the market. This approach also aims to provide an overview and forecast for the software asset management market across all segments relevant to the region. Additionally, numerous primary interviews have been conducted with industry participants and commentators to validate the findings and obtain deeper analytical insights into the subject matter. Participants in this process include industry professionals such as vice presidents, business development managers, market intelligence managers, and national sales managers, as well as external consultants like valuation experts, research analysts, and key opinion leaders specializing in the software asset management domain.