The global software asset management market size is expected to reach USD 8.94 billion by 2030, registering a CAGR of 16.2% from 2024 to 2030, according to a new report by Grand View Research, Inc.
The market is growing rapidly due to complex software management, regulatory compliance, and cost optimization. Cloud adoption and digital transformation drive demand for software asset management (SAM) tools to manage hybrid environments and ensure software security. Trends like software audits, remote work, ITSM integration, data-driven decisions, SME expansion, and globalization contribute to market growth.
Gather more insights about the market drivers, restrains and growth of the Software Asset Management Market
The need for data-driven decisions, SME expansion, and globalization are also contributing factors. Advancements in artificial intelligence (AI) and automation are enhancing SAM capabilities, while sustainability and green IT initiatives are driving adoption. Effective SAM practices are crucial for vendor management and cost savings. AI and automation enhance SAM tools, enabling better license tracking, predictive analytics, and optimization. Sustainability and green IT initiatives drive SAM adoption to reduce software purchases and energy consumption.
Key industry players have expanded their market presence through strategic moves like product launches, mergers, and partnerships. These initiatives aim to enhance market penetration and competitiveness. For instance, Salesforce recently introduced new features to help field service organizations manage their assets more efficiently, increasing sustainability and revenue. Some major market players include Flexera, Snow Software, Ivanti, and IBM Corporation.
Software Asset Management Market Report Highlights:
- Based on offering, the software segment dominated the market in 2023 with a share of over 73.0%. SAM software, essential for managing software licenses, saw increased demand due to complex software ecosystems and the shift toward cloud-based solutions. Recurring revenue models and AI-driven advancements further fueled the adoption
- By enterprise size, the large enterprises segment led the market in 2023 due to their complex IT operations. Their need for robust SAM solutions to manage extensive software licenses, ensure compliance, and mitigate audit risks, coupled with their substantial IT budgets, fueled demand for these tools
- The cloud segment held the largest market share of 49.71% in 2023 due to increased cloud adoption and the need for effective cloud license management. Enhanced cloud management features and vendor-specific SAM tools further fueled growth
- Based on vertical, manufacturing dominated the market in 2023 due to its complex IT infrastructure, stringent regulatory requirements, and focus on operational efficiency. Robust SAM solutions are essential for managing software licenses, ensuring compliance, and optimizing costs in this sector
- North America dominated the global market with a revenue share of 52.50% in 2023 due to its advanced technology adoption, large number of enterprises, and focus on cloud and digital transformation. This region's demand for SAM solutions is driven by the need to manage complex IT environments and ensure compliance
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List of Key Players in the Software Asset Management Market
- Belarc, Inc.
- Certero
- Eracent
- Flexera
- IBM Corporation
- Ivanti
- Matrix42
- ServiceNow
- Snow Software
- USU Software AGÂ
About Grand View Research
Grand View Research is a full-time market research and consulting company registered in San Francisco, California. The company fully offers market reports, both customized and syndicates, based on intense data analysis. It also offers consulting services to business communities and academic institutions and helps them understand the global and business scenario to a significant extent. The company operates across multitude of domains such as Chemicals, Materials, Food and Beverages, Consumer Goods, Healthcare, and Information Technology to offer consulting services.
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