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IT Asset Management (ITAM) Software Market

IT Asset Management (ITAM) Software Market
IT Asset Management (ITAM) Software Market - Everything you Need to Take Control
of your Assets
Some of the most prominent names in the global IT asset management software
market have a very strong presence in North America, making the regional market an
immensely competitive one. According to a study by Transparency Market Research
(TMR), ServiceNow Inc., Cherwell Software Inc., Hewlett Packard Enterprise
Development, and Aspera Technologies, Inc. are some of the leading names operating
in the North America market. In order to gain competitive advantage the market
players are focusing on mergers and collaborations and partnerships. Besides these,
companies offer customized solutions to help customers meet the ever-rising
complexities in the IT environment.
Between 2016 and 2024, the market is expected to rise at a CAGR of 6.9%. At this
pace, the global IT asset management software market will reach US$13 bn by the
end of 2024 as compared to US$708.9 mn in 2015. On the basis of size of enterprise,
large enterprises will account for the leading share in the global market. Based on
end use, IT and telecom sector is forecast to lead the global market. Regionally, the
global IT asset management software market comprises Asia Pacific, Latin America,
Europe, North America, and the Middle East and Africa. Among these regions, North
America is forecast by TMR to continue dominating the global landscape through the
course of the report’s forecast period.
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IT Asset Management Software Helps Recognizing Illegal Installation – a Key Factor
Enabling Growth
Several factors will support growth of the global IT asset management software
market, the rising focus on asset inventory management being one of them. The
software allows organizations to monitor the utility of software bought and it also
identifies if there is a need of upgrading either the operating system or the software.
In addition to this, IT asset management software has proved helpful in the
identification of illegal installation, thus preventing various vulnerabilities while
ascertaining compliance with popular security policies. These advantages offered by IT
asset management software have played a crucial role in fuelling its demand
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Furthermore, the rising demand for centralizing and automating IT infrastructure will
give thrust to the market’s growth pace in the coming years. With an increasing
number of enterprises around the world inclining towards consolidation, besides
establishing centralized IT operations, the demand for IT asset management software
is likely to surge further in the coming years.
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