Software Asset Management Market Growth and Trends: Key Insights into Market Opportunities for 2025-2034
2025 Market Reports Update: Market Size Forecasts to 2034, Key Trends, Leading Players, and Top Regions – Get Ahead of the Competition Today!
What External and Internal Drivers Are Contributing to the Growth of theSoftware Asset Management Market?
The growing adoption of cloud-based and SaaS solutions is expected to drive the expansion of the software asset management (SAM) market. Cloud-based solutions are hosted on remote servers and accessed over the internet, while SaaS (Software as a Service) solutions provide software that is managed and delivered via the cloud, eliminating the need for local installation and infrastructure. This adoption is rising due to benefits such as scalability, cost-effectiveness, remote access, and enhanced security. Software asset management facilitates the adoption of cloud and SaaS by optimizing software usage, managing licenses, ensuring compliance, and controlling costs. For example, in September 2022, Google Cloud, a U.S.-based cloud service provider, reported a 26% rise in the use of multiple public clouds in 2022, up from 21% in 2021. Additionally, hybrid cloud usage increased from 25% in 2021 to 42.5% in 2022. Therefore, the growing adoption of cloud and SaaS solutions is contributing to the growth of the SAM market.
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#What Growth Opportunities Will Drive the Software Asset Management Market’s CAGR Through 2034?
The software asset management market has experienced rapid growth in recent years. It will increase from $3.64 billion in 2024 to $4.36 billion in 2025, achieving a compound annual growth rate (CAGR) of 19.9%. This growth is attributed to the growing complexity of software licensing, wider adoption of cloud technologies, increased cloud adoption, the increasing complexity of software management, and a rise in demand for optimized asset management.
The software asset management market is predicted to reach $8.93 billion by 2029, growing at a CAGR of 19.7%. The growth is fueled by the rise of cloud-based and SaaS solutions, the increasing complexity of IT environments, growing audit rates, and the expanding tech startup landscape. Key trends include technological advancements, cloud-based solutions, the adoption of advanced SAM technologies, digital transformation, and the demand for powerful tools.
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Which Cutting-Edge Market Trends Are Expected to Drive theSoftware Asset Management Market’s Growth?
Companies in the software asset management market are focusing on automating software tracking to optimize license usage and ensure compliance. Automated solutions leverage AI, machine learning, and cloud technologies to streamline audits and minimize risks related to license compliance. For example, in March 2023, Anglepoint Inc., a U.S.-based technology services company, launched IBM Licensing for Software Asset Management, which allows businesses to manage IBM software licenses efficiently within the ServiceNow platform, identifying opportunities for cost reduction and enhancing visibility.
Who Are the Dominant Market Players Pushing the Boundaries of theSoftware Asset Management Market?
Major companies operating in the software asset management market are Microsoft Corporation, Deloitte Touche Tohmatsu Limited, International Business Machines Corporation (IBM), Broadcom Inc., HCL Technologies, ServiceNow Inc., Ivanti Inc., Symphony SummitAI, Flexera Software, Snow Software, USU Software AG, Matrix42 AG, Alloy Navigator Inc., Zluri Technologies Inc., BMC Software Inc., Anglepoint Inc., SysAid Technologies Ltd., Livingstone Technologies Ltd., Belarc Inc., Eracent Inc., Asset Panda Inc., Xensam Technologies Inc., Certero Ltd., ITAM Review Ltd., Softline International.
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What Are the Core Segments of the Software Asset Management Market, and How Do They Contribute to Growth?
The software asset management market covered in this report is segmented –
1) By Component: Solutions, Services
2) By Deployment Model: On-premise, Cloud-based
3) By Organization Size: Small, Medium, Large
4) By End-User: Banking Financial Services And Insurance (BFSI), Information Technology (IT) And Information Technology Enabled Services (ITeS), Telecom, Manufacturing, Retail And E-Commerce, Government, Healthcare And Life Sciences, Education, Media And Entertainment
Subsegments:
1) By Solutions: Software License Management, Software Compliance Management, Software Deployment And Installation, Software Inventory Management, Software Usage Tracking
2) By Services: Consulting And Advisory Services, Implementation And Integration Services, Training And Support Services, Managed Services, Maintenance And Upgrades
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What Regions Are Dominating the Software Asset Management Market Growth?
North America was the largest region in the software asset management market in 2024. The regions covered in the software asset management market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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