IT Asset Management Software Market Growth
                     Market Highlights 
Asset Management is essential for an organization for the maintenance of the cost of purchases of 
assets and for monitoring their asset usage. Software used for monitoring IT-related assets in an 
enterprise is referred to as IT asset management software. IT asset management software plays a 
vital role in the growth strategy of the organization. It aids the decision-makers of an organization 
with accurate decision-making when it comes to purchasing assets. IT asset management is also 
denoted as IT inventory management as it mainly inculcates the collection of information, 
regarding hardware and software that are used in an organization.  
The IT asset management software market is expected to proliferate at a fast pace during the 
forecast period. Such ascension is recorded to take place at a lucrative CAGR of 8% during the 
forecast period. Such speedy growth of the global IT asset management software market is 
attributable to the ascending need for the augmentation of productivity of the organization through 
the deployment of advanced technology for meeting business needs. Also, a reduction in the cost of 
software licensing through the relocation of non-utilized resources is also predicted to fuel the 
growth of the global IT asset management software market. IT asset management can be 
considered as hardware asset management, digital asset management, as well as software asset 
management. 
Segmentation: 
The IT asset management software market growth is studied for an array of segments that are 
based on component, tools, organization size, end-user, deployment, and region. Based on 
component, the global IT asset management software market is segmented into software, 
hardware, and services. The software segment is sub-segmented into software licenses (COTS) and 
in-house developed software. The services segment is further segmented into professional services 
and managed services. The professional services segment is sub-segmented into consulting 
services, and maintenance and support services.  
Based on organization size, the global IT asset management software market is analyzed for the 
segments of small and medium enterprise, and large enterprise. Based on tools, the market 
segments include discovery/automated inventory, license management, patch & version 
management, request management, product/service catalog, and digital asset management.  
Based on end-users, the global IT asset management software market is segmented into banking & 
financial service, retail, aerospace & defense, IT & telecom, energy & power, automotive & 
transportation. Based on deployment, the global market for IT asset management software is 
segmented into on cloud, on-premise and hybrid. 
Detailed Regional Analysis 
The global IT asset management software market is studied for a distinctive regional segmentation 
that includes Europe, North America, Asia Pacific, and the rest of the world. Among the regions 
mentioned above, the market for IT asset management software is dominated by North America 
owing to the high investments in technology that are catering to the needs of lifecycle management 
of complex software, and the rising need for strict laws and regulations in terms of the points of 
purchase. These factors are anticipated to contribute to the rising adoption of IT asset management 
software market over the forecast period. 
Alternatively, Europe is anticipated to rank the second in the global IT asset management software 
market owing to the heavy industrialization in the past decade in several technologically mature 
countries such as the UK, Germany, and France. On the other hand, Asia Pacific is estimated to 
witness the fastest CAGR during the forecast period. 
Key Players 
Some noteworthy players in the global IT asset management software market include Freshworks 
Inc. (U.S.), BMC Software (U.S.), SysAid Technologies Ltd (Israel), ServiceNow, Inc (U.S.), Asset 
Panda (U.S.), Samanage Ltd (U.S.), Microsoft Corporation (U.S.), Wasp Barcode Technologies (U.S.), 
IBM Corporation (U.S.), HP, Inc (U.S.), Oracle Corporation (U.S.), Landesk Software (U.S.), CA 
Technologies (U.S.).