The global licensing management market size reached USD 1,019.0 million in 2021 and is expected to register a revenue CAGR of 11.5% during the forecast period, according to a latest analysis from Emergen Research.
Due to high commodity price volatility and declining profitability, companies are focusing on reducing their operational costs. So they look for license management software to reduce expenses, maximize software utilization and avoid loss caused by license non-compliance. Another benefit of license management is that it helps companies control all of their contracts, agreements, license rights, and software inventory from one place. The multiple benefits of license management is another factor contributing to its growing popularity. For example, it helps companies organize and record software contracts efficiently and securely.
As a result, companies can protect themselves against unexpected license payments and fines. By minimizing fines for non-compliance, reducing renewal fees and providing significant cost savings, license management has also enabled companies to reduce the cost of purchasing software.
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Rapid adoption of cloud-based solutions is another important driver fueling the market revenue growth. In order to remain competitive in the global market, companies consider cloud computing as a crucial part of their IT strategy. Businesses can take advantage of the cost-effective, scalable, and adaptable solutions of cloud computing technology. Additionally, developments in cloud computing have enabled enterprises to take advantage of the business prospects of cloud hosting.
The main objective of the report is to offer market overview, product scope, growth prospects and risks. The report also offers detailed information about each player in the global Licensing Management market along with its global position, financial status, product launch, business expansion plans, among others. Market players are focused on developing various strategies such as partnerships, mergers and acquisitions, joint ventures, product launches, and research and development investments.
Companies Featured in Global License Management Market:
Oracle Corporation, DXC Technology Company, IBM Corporation, Ivanti, Flexera Software LLC, Thales Cloud Security, ServiceNow, Inc., Snow Software, Inc., Labs64 Netlicensing, Reprise Software, TeamEDA Inc. and Persistent Security, LLC
Main highlights of the report.
In 2021, the contribution to revenue from the cloud segment was considerable. Rapid adoption of technologies such as big data, machine learning (ML) and others across various industries is a key element fueling the revenue growth of the segment. Unprocessed data is monitored, analyzed and visualized using these technologies. Integrating these technologies with cloud-based solutions also greatly helps businesses by improving their visualization skills and increasing the usability and accessibility of complex data. Cloud-based software has also simplified data storage and improved data utilization. This has dramatically increased business productivity, improved decision-making, and reduced operating expenses.
In 2021, the audit services market accounted for a significant share of total revenue. One of the major factors propelling the market revenue growth in this industry is the growing awareness about the various benefits of audit management software. Companies can, for example, speed up their audit procedures while complying with internal rules or guidelines by using audit software. Additionally, this type of software supports the definition, use, and monitoring of auditing processes for a range of purposes, including quality management, health, and environmental protection.
In 2021, the banking and financial services sector contributed a major share of revenue. The market in the region is growing in terms of revenue owing to factors such as increasing cases of financial fraud and rapid implementation of AI-based banking systems. The banking industry has seen huge changes thanks to technologies such as big data, AI, cloud computing and others. They support the provision of security measures in banks and other financial institutions as well as the growth of visualization capabilities.
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Emergen Research has segmented the global license management market based on mode of deployment, application, industry, and region:
Deployment Mode Outlook (Revenue, USD Million; 2019-2030)
On the site
Application Area Outlook (Revenue, USD Million; 2019-2030)
Operation and analysis
Software inventory management
Industry Outlook (Revenue, USD Million; 2019-2030)
Banking and financial services
Media and Entertainment
License Management Market Segmentation By Regions:
North America (USA, Canada)
Europe (UK, Italy, Germany, France, Rest of EU)
Asia-Pacific (India, Japan, China, South Korea, Australia, rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East and Africa (Saudi Arabia, United Arab Emirates, South Africa, Rest of MEA)
Study of the Global License Management Market Size by Key Regions, Types and Applications with Reference to Historical Data (2019-2020) and Forecast (2022-2030)
Industry structure analysis of License Management market by identifying various sub-segments
In-depth analysis of key market players along with their SWOT analysis
Competitive landscape marking
Analysis of License Management Market based on growth trends, futuristic prospects, and contribution to total market growth
Analysis of drivers, restraints, opportunities, challenges, and risks in the global license management market
Comprehensive analysis of competitive developments such as expansions, agreements, new product launches and other strategic alliances
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