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(Wireless-NewsWire.Com, July 16, 2018 ) The report "Software Asset Management Market by Solution (License Management, Audit and Compliance Management, Software Discovery, Optimization, and Metering), Service, Deployment Type, Organization Size, Industry Vertical, and Region - Global Forecast to 2022", The software asset management market size is expected to grow from USD 1.16 Billion in 2017 to USD 2.32 Billion by 2022, at a Compound Annual Growth Rate (CAGR) of 14.8% during the forecast period. The increasing need to manage the life cycle of assets and compliance-readiness are expected to be the major drivers of the software asset management market.
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Software asset management solutions and services have been adopted by companies across the globe to assist them in optimizing their cost spending on software. Furthermore, these solutions enable detailed analysis and statistics about the position of the software by automating the software data collection, evaluating the compliances, and highlighting the opportunities to reduce costs and anticipate risks.
The software asset management solutions consider various parameters that are relevant to product use rights and contract terms to determine and optimize the discovered software automatically. These solutions have rapidly become the most significant choice for managing various software, due to the rising complexity of software licensing schemes.
Software asset management market segmentation consists of license Management, audit and compliance Management, software discovery, optimization, and metering, contract management, configuration Management, and others (reporting, analytics, and security). The major vendors of the software asset management market include Aspera Technologies (US), BMC Software (US), CA Technologies (US), Certero (UK), Cherwell Software (US), Flexera (US), IBM (US), Ivanti (US), Micro Focus (UK), Microsoft (US), Scalable Software (US), ServiceNow (US), Snow Software (Sweden), and Symantec (US).
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These players have adopted various growth strategies, such as partnerships, collaborations, agreements, mergers and acquisitions, and new product developments, to grow in the software asset management market.
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