DUBLIN – (COMMERCIAL THREAD) – The report “License Management Market – Growth, Trends, COVID-19 Impact and Forecast (2021 – 2026)” has been added to ResearchAndMarkets.com offer.
The license management market was valued at USD 737 million in 2020 and is expected to reach USD 1,206.39 million by 2026, at a CAGR of 8.56% over the forecast period 2021-2026.
The growing investment in the development of IT infrastructure, the rapid adoption of digitization by many companies, the technological advancements in the cloud, the growing demand for a single license management tool that will optimize software investments, reduce costs, increase enterprise-wide software usage and ensure compliance with Software licenses are some of the major growth factors in the license management market.
The growing demand for digital age networking that enables businesses to move towards digital transformation and drive new business outcomes by leveraging new digital age technologies such as the Internet of Things (IoT ), cloud and artificial intelligence (AI) and thus relying on various software is expected to lead the market.
For example, according to the report, 70% of companies have a digital transformation strategy in place or are working on it, and 21% of companies believe they have already completed the digital transformation. Around 40% of all technology spending in 2019 is expected to be spent on digital transformation.
In addition, increasing the audit of end-user software licenses by software vendors to compare the number of software licenses the organization has purchased with the number currently installed on computers and ensure license compliance should also stimulate the market. It will continue to increase for two reasons, the first being an attempt to combat software piracy and the second being fines imposed on non-compliant organizations that are a source of revenue for software vendors.
The license management market is competitive and dominated by a few major players like Aspera Technologies Inc., Cherwell Software LLC, DXC Technology Co., Flexera Software LLC and Reprise Software Inc. These major players, with a significant share in the market, focus on expanding their customer base across foreign countries.
These companies are leveraging strategic collaborative initiatives to increase market share and increase profitability. However, with technological advancements and product innovations, mid to small sized companies are increasing their market presence by securing new contracts and tapping into new markets.
Main topics covered:
1.1 Hypotheses of the study? and market definition?
1.2 Scope of the study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market overview
4.2 Market drivers
4.2.1 Growing demand to optimize software investments
4.2.2 Growing requirement for audit preparation within the organization
4.3 Market restrictions
4.3.1 Uncertain standards and regulatory frameworks
4.5 Industry Attractiveness – Porter’s Five Forces Analysis
4.6 Impact of COVID-19
5 MARKET SEGMENTATION
5.1 By component
5.2 By deployment
5.2.1 On site
5.3 By Application (Qualitative Trend Analysis)
5.3.1 Verification services
5.3.2 Consulting services
5.3.3 Compliance management
5.3.4 License rights and optimization
5.3.5 Operations and analyzes
5.4 By the end user
5.4.2 Health and life sciences
5.4.3 IT and telecommunications
5.4.4 Media and entertainment
5.4.5 Other vertical end user
5.5 By geography
6 COMPETITIVE LANDSCAPE
6.1 Company profiles
6.1.1 Aspera Technologies inc.
6.1.2 Cherwell Software LLC
6.1.3 DXC Technology Co
6.1.4 Flexera Software LLC
6.1.5 Reprise Software Inc.
6.1.6 Snow Software AB
6.1.7 Oracle Corporation
6.1.8 IBM Corporation
6.1.9 Gemalto Inc.
6.1.10 ServiceNow Inc.
7 FUTURE PROSPECTS OF THE MARKET
8 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information on this report, visit https://www.researchandmarkets.com/r/duk446