DUBLIN–(BUSINESS WIRE)–The “License Management Market – Growth, Trends, COVID-19 Impact, and Forecasts (2021 – 2026)” report has been added to ResearchAndMarkets.com’s offering.
The license management market was valued at USD 737 million in 2020 and is expected to reach USD 1206.39 million by 2026, at a CAGR of 8.56% over the forecast period 2021-2026.
The increasing investment in IT infrastructure development, rapid adoption of digitalization by many businesses, technological advancement in cloud, growing demand for single license managing tool that will optimize software investments, reduce the cost, increase company-wide software usage and ensure compliance with the developer’s software license are some of the major factors driving the growth of the license management market.
Growing demand for Digital Age Networking that enables enterprises to move toward digital transformation and generate new business outcomes by leveraging new digital age technologies such as the Internet of Things (IoT), cloud, and Artificial Intelligence (AI) and thus rely on various software is expected to drive the market.
For instance, according to the report, 70% of companies either have a digital transformation strategy in place or are working on it, and 21% of companies perceive that they have already completed the digital transformation. Around 40% of all technology spending in 2019 is expected to go towards digital transformation.
Further, increasing end-user software license auditing by software vendors to compare the number of software licenses the organization has purchased with the number currently installed on the computers and ensures license compliance is also expected to drive the market. It will continue to rise for two reasons, the first being an attempt to combat software piracy and second fines levied against non-compliant organizations that act as a source of revenue for software vendors.
Competitive Landscape
The license management market is competitive and is 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 prominent share in the market, are focusing on expanding their customer base across foreign countries.
These companies are leveraging strategic collaborative initiatives to increase their market share and increase their profitability. However, with technological advancements and product innovations, mid-size to smaller companies are increasing their market presence by securing new contracts and by tapping new markets.
Key Topics Covered:
1 INTRODUCTION
1.1 Study Assumptions? 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 Increasing Demand to Optimize Software Investments
4.2.2 Growing Requirement for Audit-Readiness Among Organisation
4.3 Market Restraints
4.3.1 Uncertain Regulatory Standards and Frameworks
4.4 Market Opportunities
4.5 Industry Attractiveness – Porter’s Five Forces Analysis
4.6 Impact of COVID-19
5 MARKET SEGMENTATION
5.1 By Component
5.1.1 Software
5.1.2 Services
5.2 By Deployment
5.2.1 On-Premise
5.2.2 Cloud
5.3 By Application (Qualitative Trend Analysis)
5.3.1 Audit Services
5.3.2 Advisory Services
5.3.3 Compliance Management
5.3.4 License Entitlement and Optimization
5.3.5 Operations and Analytics
5.3.6 Others
5.4 By End-User
5.4.1 BFSI
5.4.2 Healthcare and Life Sciences
5.4.3 IT & Telecommunication
5.4.4 Media and Entertainment
5.4.5 Other End-user Vertical
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 OUTLOOK OF THE MARKET
8 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/duk446