The Business Research Company’s report on the Information Technology (IT) Asset Management Software Market provides insights into the global market size, growth rate, regional distribution, competitive landscape, key segments, emerging trends, and strategic opportunities.
Which emerging drivers are set to accelerate the growth of the information technology (it) asset management software market further?
The rise of cloud computing is expected to propel the growth of the information technology (IT) asset management software market going forward. Cloud computing provides on-demand access to various computing resources such as servers, storage, and software over the internet. This model enables users to utilize these services without owning or managing physical hardware themselves. Cloud computing is gaining popularity due to its cost-effectiveness, scalability, and flexibility, which allow businesses to adjust their resources as needed without investing in expensive hardware and infrastructure. IT asset management software aids cloud computing by providing tools to track and manage cloud resources, optimize asset usage, ensure compliance, and integrate various cloud services, improving overall efficiency and control. For instance, in April 2024, according to the European Commission, a Belgium-based government body, in 2023, 77.6% of large enterprises reported using cloud computing services, reflecting a 6 percentage point increase from 2021. For medium-sized enterprises, cloud service adoption reached 59% in 2023, up from 53% in 2021. Therefore, the rise of cloud computing is driving the growth of the information technology (IT) asset management software market.
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What are the key factors influencing the forecasted market size of the information technology (it) asset management software industry?
The information technology (IT) asset management software market size has grown strongly in recent years. It will grow from $4.33 billion in 2024 to $4.7 billion in 2025 at a compound annual growth rate (CAGR) of 8.7%. The growth in the historic period can be attributed to rise of digital transformation, increase in complexity of IT environments, growth in need for compliance and regulatory requirements, rise in proliferation of mobile and remote work, escalating IT asset costs, and rise in demand for improved operational efficiency and asset utilization.
The information technology (IT) asset management software market size is expected to see strong growth in the next few years. It will grow to $6.49 billion in 2029 at a compound annual growth rate (CAGR) of 8.4%. The growth in the forecast period can be attributed to increasing IT asset complexity, the growing need for regulatory compliance, rising demand for cost optimization, expansion of remote work, and enhanced focus on cybersecurity. Major trends in the forecast period include adoption of AI and machine learning for predictive analytics, integration with cloud services, automation of asset management tasks, advancements in mobile and remote management capabilities, and advances in cloud computing.
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Who are the leading competitors in the information technology (it) asset management software market?
Major companies operating in the information technology (IT) asset management software market are Deloitte, International Business Machines Corporation, HP Inc., Broadcom Inc., SAP SE, Salesforce Inc., ServiceNow Inc., BMC Software Inc., Atlassian Corporation, Micro Focus International plc, Zoho Corporation, IFS AB, Quest Software Inc., Ivanti Software Inc., SolarWinds Corporation, Freshworks Inc., Flexera Software LLC, ASG Technologies Group Inc., TOPdesk, Chevin Fleet Solutions, Lansweeper, Spiceworks Inc., Agiloft Inc., SysAid Technologies, InvGate
Which emerging trends are set to transform the information technology (it) asset management software market landscape?
Major companies operating in the information technology (IT) asset management software market are focusing on advanced technologies such as integrating cloud services in asset management software to enhance scalability, improve real-time data access, and streamline asset tracking and management processes across distributed environments. Integrating cloud services in asset management software involves incorporating cloud-based tools and platforms into the software used for tracking and managing an organization’s assets. For instance, in March 2022, Aptean, launched Aptean EAM. It is a cloud-based asset management tool designed for manufacturing and businesses with complex equipment. It ranges from a basic computerized maintenance management system (CMMS) to a full EAM system, suited for small to mid-sized companies. The platform streamlines preventive maintenance with advanced analytics, work order management, automated approvals, and inventory tracking. Its user-friendly design ensures easy deployment and improves operational efficiency across manufacturing sites.
How do different geographies compare in terms of market share and growth potential in the information technology (it) asset management software market?
North America was the largest region in the information technology (IT) asset management software market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the information technology (IT) asset management software market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Which major segments of the information technology (it) asset management software market are experiencing the fastest growth?
The information technology (IT) asset management software market covered in this report is segmented –
1) By Component: Hardware; Software; Service
2) By Tools: Discovery Or Automated Inventory; License Management; Patch And Version Management; Request Management; Product Or Service Catalog; Digital Asset Management; Other Tools
3) By Deployment: Cloud; On-Premise
4) By Organization Size: Small And Medium Enterprises (SMEs); Large Enterprise
5) By End User Industry: Information Technology (IT) And Telecom; Banking, Financial Services, And Insurance (BFSI); Healthcare; Retail; Manufacturing; Government; Other End Users
Subsegments:
1) By Hardware: Servers And Data Center Hardware; Networking Equipment; End-User Devices; Storage Devices Printers And Peripherals
2) By Software: Asset Tracking And Monitoring Software; License Management Software; Inventory Management Software; Configuration Management Software; Cloud-Based IT Asset Management Software; Mobile Device Management (MDM) Software
3) By Service: IT Asset Management Consulting Services; Implementation And Integration Services; Maintenance And Support Services; Training And Support Services; Cloud Migration Services
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What defines the structure and scope of the information technology (it) asset management software market?
Information technology (IT) asset management software is a specialized tool designed to help organizations efficiently manage their IT assets throughout their lifecycle. It provides features and functionalities for tracking, managing, and optimizing both hardware and software assets.
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