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IT Asset Management Software Market Trends

ID: MRFR/ICT/0415-CR
143 Pages
Ankit Gupta
June 2023

IT Asset Management Software Market Research Report: Information By Component (Hardware, Software, Service), Deployment (On-Cloud And On-Premise), Organization Size (SME, Large Enterprise), End-User (BFSI, Retail, Aerospace & Defense, IT & Telecom),By Tools (Discovery/ Automated Inventory, License Management, Patch & Version Management, Request Management, Product/Service Catalog, Digital Asset Management and Others), And By Region (North America, Europe, Asia-Pacific, And Rest Of The World) –Market Forecast Till 2035.

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Market Trends

Key Emerging Trends in the IT Asset Management Software Market

The management of software is becoming increasingly crucial for business strategies as organizations allocate a significant portion of their IT budget to it. Many are turning to software asset management solutions to efficiently handle and optimize IT assets, especially in the face of a rapidly evolving landscape.

As organizations accumulate various software licenses over time, managing them becomes more challenging. Smaller businesses may find it simpler, but larger ones face risks such as scattered IT spending, duplicated licenses, under-licensing, and wasted funds on forgotten licenses. Without a software asset management strategy, organizations of any size can be vulnerable to these consequences.

The trend of consolidation has emphasized the need for centralized and streamlined IT operations and infrastructure to ensure business success. The implementation of automation in a centralized IT environment enables continuous monitoring of activities. Centralizing IT asset management software across the organization enhances inventory visibility and aids in budgetary planning. It also furnishes valuable information for future asset management, capitalizing on current asset utilization and minimizing unnecessary IT expenditures. These factors are expected to contribute to the growth of the IT Asset Management Software market during the forecast period.

Automation plays a key role in eliminating manual processes and handling underlying infrastructure tasks, facilitating the rapid and secure development of scalable applications. This trend aligns with the broader shift towards automated solutions in the IT Asset Management Software market, fostering efficiency and adaptability in the ever-changing technological landscape.

A new integrated IT function, known as I&O, is emerging by combining infrastructure and operations teams. This convergence aims to develop a more adaptable and easily manageable IT infrastructure. Some experts predict that future IT organizations will operate with two coexisting models, referred to as bimodal IT. Similar to rocks in a fast-flowing river, one model will prioritize stability and efficiency, while the other emphasizes time-to-market, rapid application evolution, and high flexibility.

Author
Ankit Gupta
Senior Research Analyst

Ankit Gupta is an analyst in market research industry in ICT and SEMI industry. With post-graduation in "Telecom and Marketing Management" and graduation in "Electronics and Telecommunication" vertical he is well versed with recent development in ICT industry as a whole. Having worked on more than 150+ reports including consultation for fortune 500 companies such as Microsoft and Rio Tinto in identifying solutions with respect to business problems his opinions are inclined towards mixture of technical and managerial aspects.

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FAQs

How much is the IT Asset Management Software market?

The IT Asset Management Software Market size is expected to be valued at USD 6881.3 Million in 2023.

What is the growth rate of the IT Asset Management Software market?

The global market is projected to grow at a CAGR of 8.22% during the forecast period, 2024-2032.

Which region held the largest market share in the IT Asset Management Software market?

North America had the largest share of the global market.

Who are the key players in the IT Asset Management Software market?

The key players in the market are Freshworks Inc (U.S.) BMC Software (U.S.) SysAid Technologies Ltd. (Israel) ServiceNow Inc. (U.S.) Asset Panda (U.S.).

Which tool led the IT Asset Management Software market?

The Digital Asset Management category dominated the market in 2023.

Which end user had the largest market share in the IT Asset Management Software market?

Banking & Financial Service had the largest global market revenue share in 2023.

Market Summary

As per MRFR analysis, the IT Asset Management Software Market Size was estimated at 7422.2 USD Million in 2024. The IT Asset Management Software industry is projected to grow from 8032.46 in 2025 to 17701.29 by 2035, exhibiting a compound annual growth rate (CAGR) of 8.22 during the forecast period 2025 - 2035.

Key Market Trends & Highlights

The IT Asset Management Software Market is experiencing robust growth driven by technological advancements and evolving business needs.

  • Integration with cloud services is becoming increasingly prevalent, enhancing operational efficiency.
  • There is a heightened focus on compliance and security, reflecting the growing importance of regulatory adherence.
  • The adoption of AI and automation technologies is reshaping asset management practices, particularly in North America.
  • Key market drivers include the increased need for cost efficiency and the rising importance of cybersecurity, particularly in the IT asset tracking and cloud-based segments.

Market Size & Forecast

2024 Market Size 7422.2 (USD Million)
2035 Market Size 17701.29 (USD Million)
CAGR (2025 - 2035) 8.22%
Largest Regional Market Share in 2024 North America

Major Players

ServiceNow (US), BMC Software (US), IBM (US), Micro Focus (GB), ManageEngine (IN), Cherwell Software (US), Asset Panda (US), Samanage (US), SysAid (IL)

Market Trends

The IT Asset Management Software Market is currently experiencing a transformative phase, driven by the increasing complexity of IT environments and the growing need for organizations to optimize their asset utilization. As businesses expand their digital footprints, the demand for effective management solutions has surged. This market appears to be characterized by a shift towards integrated platforms that not only track assets but also provide insights into their performance and lifecycle management. Furthermore, the rise of remote work and cloud-based solutions has prompted organizations to seek software that can seamlessly manage assets across diverse locations and environments. In addition, the IT Asset Management Software Market seems to be influenced by regulatory compliance requirements, compelling organizations to adopt robust asset management practices. This trend indicates a growing awareness of the importance of data security and risk management in asset management strategies. As organizations strive to enhance operational efficiency and reduce costs, the adoption of advanced technologies such as artificial intelligence and machine learning within asset management solutions is likely to gain traction. Overall, the market is poised for continued growth as businesses recognize the value of effective IT asset management in achieving strategic objectives.

Integration with Cloud Services

The trend towards integrating IT asset management solutions with cloud services is becoming increasingly prevalent. Organizations are seeking software that can manage assets across various cloud environments, allowing for greater flexibility and scalability. This integration facilitates real-time tracking and monitoring of assets, enhancing overall efficiency.

Focus on Compliance and Security

There is a notable emphasis on compliance and security within the IT Asset Management Software Market. Organizations are prioritizing solutions that help them adhere to regulatory requirements while ensuring the protection of sensitive data. This focus on security is driving the development of more robust asset management practices.

Adoption of AI and Automation

The incorporation of artificial intelligence and automation into IT asset management solutions is gaining momentum. These technologies enable organizations to streamline processes, reduce manual effort, and improve decision-making. As a result, businesses are increasingly looking for software that leverages AI to enhance asset management capabilities.

IT Asset Management Software Market Market Drivers

Growing Focus on Cybersecurity

The Global IT Asset Management Software Market Industry is witnessing a heightened focus on cybersecurity as organizations prioritize the protection of their IT assets. With the increasing frequency of cyber threats, businesses are investing in robust asset management solutions that incorporate security features. This trend is indicative of a broader recognition of the importance of safeguarding digital assets. As organizations seek to bolster their cybersecurity posture, the demand for IT asset management software that integrates security protocols is likely to rise. This focus on cybersecurity not only enhances asset protection but also contributes to overall organizational resilience.

Rise of Cloud Computing Solutions

The Global IT Asset Management Software Market Industry is significantly influenced by the proliferation of cloud computing solutions. Organizations are increasingly adopting cloud-based IT asset management systems to enhance scalability and flexibility. This trend is indicative of a broader shift towards digital transformation, where businesses seek to streamline operations and reduce infrastructure costs. The cloud-based solutions not only facilitate remote access but also enable real-time tracking of assets, which is crucial for effective management. As the market evolves, the integration of cloud technologies is expected to play a pivotal role in shaping the future of IT asset management.

Increasing Demand for IT Efficiency

The Global IT Asset Management Software Market Industry experiences a surge in demand as organizations strive for enhanced operational efficiency. Companies are increasingly recognizing the need to optimize their IT assets to reduce costs and improve service delivery. As of 2024, the market is valued at approximately 7.42 USD Billion, indicating a robust growth trajectory. This demand is driven by the necessity for businesses to manage their IT resources effectively, ensuring that they can respond swiftly to changing market conditions. The focus on IT efficiency is likely to propel the market further, as organizations seek to leverage technology for competitive advantage.

Integration of Artificial Intelligence

The integration of artificial intelligence into IT asset management solutions is a notable driver within the Global IT Asset Management Software Market Industry. AI technologies enable organizations to automate asset tracking, predictive maintenance, and data analysis, thereby enhancing decision-making processes. This technological advancement allows for more efficient resource allocation and improved asset utilization. As organizations increasingly adopt AI-driven solutions, the market is expected to witness substantial growth. The potential for AI to transform traditional asset management practices suggests a promising future for the industry, as businesses seek to harness the power of AI to optimize their IT operations.

Regulatory Compliance and Risk Management

The Global IT Asset Management Software Market Industry is also driven by the growing emphasis on regulatory compliance and risk management. Organizations are compelled to adhere to various regulations concerning data security and asset management. This compliance is essential to mitigate risks associated with data breaches and asset mismanagement. As businesses navigate complex regulatory landscapes, the demand for IT asset management software that ensures compliance is likely to increase. The ability to maintain accurate records and manage assets effectively not only aids in compliance but also enhances overall risk management strategies, thereby fostering market growth.

Market Segment Insights

By Application: IT Asset Tracking (Largest) vs. License Management (Fastest-Growing)

In the IT Asset Management Software Market, the application segment is characterized by diverse functionalities, with IT Asset Tracking holding the largest share. It is critical for organizations to monitor and manage their IT assets efficiently, ensuring optimal utilization and reducing costs. License Management follows closely behind as a vital component, facilitating compliance and cost control for software licenses, while other applications such as Compliance Management and Inventory Management remain essential but with smaller market footprints. The growth trends within the segment reveal a significant escalation in License Management, fueled by increasing regulatory pressures and the necessity for software optimization. Organizations are increasingly looking towards comprehensive asset management solutions that integrate License Management with IT Asset Tracking. This trend aligns with the ongoing digital transformations and benefits from heightened awareness of compliance and cost efficiency among businesses, positioning this segment for robust growth.

IT Asset Tracking (Dominant) vs. Compliance Management (Emerging)

IT Asset Tracking is widely recognized as a dominant player in the IT Asset Management Software Market due to its fundamental role in providing visibility into physical and digital assets within organizations. This application facilitates effective monitoring and reporting, empowering businesses to leverage their IT resources efficiently. As organizations increasingly adopt cloud solutions and remote working models, IT Asset Tracking has become essential for accurate inventory management and lifecycle oversight. Conversely, Compliance Management, while emerging, is gaining traction as regulatory requirements continue to evolve, making it crucial for companies to demonstrate adherence. The demand for robust compliance features within asset management solutions indicates a significant shift towards integrated frameworks, supporting a proactive approach to regulatory challenges.

By Deployment Type: Cloud-Based (Largest) vs. On-Premises (Fastest-Growing)

The IT Asset Management Software Market showcases a diverse deployment landscape where Cloud-Based solutions lead the market share, driven by their scalability, flexibility, and lower upfront costs. On-premises solutions, while historically dominant, have seen a decline as organizations shift towards more accessible and efficient cloud alternatives. Hybrid solutions offer a middle ground, allowing businesses to leverage both deployment types for optimal asset management.

Cloud-Based (Dominant) vs. On-Premises (Emerging)

Cloud-Based IT Asset Management Software has emerged as the dominant force in the market, favored for its ability to support remote workforces and integrate with other SaaS tools seamlessly. This deployment type enhances collaboration and real-time access to assets, making it appealing for modern businesses. In contrast, On-Premises solutions are experiencing a resurgence as organizations seek greater control and security over their IT assets. These solutions are seen as essential for sectors dealing with sensitive data and compliance requirements, making them an attractive emerging option.

By End User: Large Enterprises (Largest) vs. Small and Medium Enterprises (Fastest-Growing)

The IT Asset Management Software Market is significantly influenced by its end users, with large enterprises holding the majority share due to their extensive IT infrastructures and complexities. In contrast, small and medium enterprises are rapidly increasing their adoption of these solutions, reflecting the growing recognition of the importance of effective asset management within their operations.

Corporate Sector: Large Enterprises (Dominant) vs. Small and Medium Enterprises (Emerging)

Large enterprises represent the dominant segment in the IT Asset Management Software Market, characterized by their complex IT environments and need for robust management solutions. They have the resources to leverage comprehensive asset management systems to enhance operational efficiency and compliance. On the other hand, small and medium enterprises are emerging as a critical force, driven by advancements in cloud-based solutions that offer flexibility and affordability. As these businesses become more tech-savvy, their demand for asset management software is expected to surge, fostering increased innovation and competition in the market.

By Functionality: Asset Lifecycle Management (Largest) vs. Configuration Management (Fastest-Growing)

In the IT Asset Management Software Market, Asset Lifecycle Management dominates the functionality segment, providing organizations with comprehensive tools for managing the entire lifecycle of IT assets from procurement to retirement. Configuration Management closely follows, offering critical insights into asset configurations and relationships, which enhances overall efficiency in IT operations. Both segments are essential, but Asset Lifecycle Management holds a larger market share due to its widespread applicability and maturity in the market.

Management: Asset Lifecycle (Dominant) vs. Configuration Management (Emerging)

Asset Lifecycle Management is characterized by its robust capabilities in tracking and managing IT assets throughout their lifecycle, enabling businesses to optimize resource utilization and reduce costs. This functionality supports various processes like procurement, maintenance, and compliance. On the other hand, Configuration Management, while currently the fastest-growing segment, focuses on maintaining accurate records of asset configurations and ensuring alignment with business needs. It fosters agility by allowing organizations to quickly adapt to changes in technology environments. The distinction between these segments illustrates the evolving needs of organizations striving for effective asset control and operational efficiency.

By Industry: Information Technology (Largest) vs. Healthcare (Fastest-Growing)

The IT Asset Management Software Market displays a distribution where Information Technology takes the lead as the largest segment, reflecting its critical role in supporting digital infrastructures and managing IT assets effectively. With organizations increasingly relying on robust IT asset management, this segment is fortified by the adoption of technologies such as cloud computing and AI, ensuring sustained market presence. Meanwhile, the Healthcare sector emerges as the fastest-growing segment, driven by the growing need for operational efficiency, compliance with regulatory standards, and enhanced patient care through technology integration in asset management processes.

Information Technology: IT Asset Management (Dominant) vs. Healthcare: EHR Integration (Emerging)

The Information Technology sector commands a dominant position in the IT Asset Management Software Market, focusing on tracking and managing IT assets efficiently. It encapsulates a range of solutions that promote better resource utilization, asset longevity, and cost management, catering to businesses looking to optimize their IT environments. On the other hand, the Healthcare segment, with its emphasis on Electronic Health Records (EHR) integration, is emerging rapidly. This focus is leading to the adoption of specialized asset management tools that streamline operations, improve compliance with healthcare regulations, and enhance the delivery of patient care. Together, these segments illustrate a balanced market landscape, with technology serving as the backbone for innovation and efficiency.

Get more detailed insights about IT Asset Management Software Market Research Report - Global Forecast till 2035

Regional Insights

North America : Market Leader in IT Solutions

North America continues to lead the IT Asset Management Software market, holding a significant share of 3700.0. The region's growth is driven by increasing digital transformation initiatives, regulatory compliance requirements, and the need for efficient asset tracking. Organizations are investing heavily in IT solutions to enhance operational efficiency and reduce costs, further propelling market demand. The competitive landscape is robust, with key players like ServiceNow, IBM, and BMC Software dominating the market. The U.S. is the primary contributor, supported by a strong technology infrastructure and a high adoption rate of cloud-based solutions. This environment fosters innovation and attracts investments, ensuring North America's continued leadership in the IT asset management sector.

Europe : Emerging Market with Growth Potential

Europe's IT Asset Management Software market is poised for growth, currently valued at 2200.0. The region is experiencing a surge in demand due to stringent regulatory frameworks and a focus on digital transformation. Companies are increasingly adopting IT asset management solutions to comply with regulations and optimize their IT resources, driving market expansion. Leading countries such as Germany, the UK, and France are at the forefront of this growth, with a competitive landscape featuring players like Micro Focus and ManageEngine. The European market is characterized by a mix of established firms and innovative startups, creating a dynamic environment for IT asset management solutions. "The European market is witnessing a significant shift towards integrated IT asset management solutions to enhance compliance and efficiency," European Commission report, European Commission.

Asia-Pacific : Rapidly Growing IT Sector

The Asia-Pacific region is emerging as a significant player in the IT Asset Management Software market, currently valued at 1200.0. The growth is fueled by rapid digitalization, increasing IT investments, and a rising awareness of asset management benefits. Governments are also promoting technology adoption, which acts as a catalyst for market expansion in this region. Countries like India, China, and Japan are leading the charge, with a competitive landscape that includes local and international players. Companies such as ManageEngine are capitalizing on the growing demand for IT asset management solutions, making the region a hotbed for innovation and investment in IT infrastructure. The Asia-Pacific market is expected to continue its upward trajectory as organizations seek to enhance operational efficiency and asset utilization.

Middle East and Africa : Emerging Market with Unique Challenges

The Middle East and Africa region, with a market size of 322.2, is gradually developing in the IT Asset Management Software sector. The growth is driven by increasing investments in IT infrastructure and a growing emphasis on digital transformation. However, challenges such as regulatory hurdles and varying levels of technology adoption across countries can impact market dynamics. Leading countries like South Africa and the UAE are making strides in adopting IT asset management solutions, supported by local and international vendors. The competitive landscape is evolving, with companies focusing on tailored solutions to meet regional needs. As organizations in this region recognize the importance of effective asset management, the market is expected to grow steadily in the coming years.

Key Players and Competitive Insights

The IT Asset Management Software Market is currently characterized by a dynamic competitive landscape, driven by the increasing need for organizations to optimize their IT resources and enhance operational efficiency. Key players such as ServiceNow (US), BMC Software (US), and IBM (US) are at the forefront, each adopting distinct strategies to solidify their market positions. ServiceNow (US) emphasizes innovation through its cloud-based solutions, focusing on enhancing user experience and integrating AI capabilities. BMC Software (US) appears to be concentrating on mergers and acquisitions to expand its service offerings, while IBM (US) is leveraging its extensive research and development capabilities to drive digital transformation initiatives. Collectively, these strategies contribute to a competitive environment that is increasingly focused on technological advancement and customer-centric solutions.In terms of business tactics, companies are increasingly localizing their operations and optimizing supply chains to respond to regional demands effectively. The market structure is moderately fragmented, with a mix of established players and emerging startups. This fragmentation allows for diverse offerings, yet the influence of key players remains substantial, as they set benchmarks for innovation and service quality that smaller firms often strive to meet.

In November ServiceNow (US) announced a strategic partnership with a leading AI firm to enhance its asset management capabilities. This collaboration is poised to integrate advanced machine learning algorithms into ServiceNow's platform, potentially revolutionizing how organizations track and manage their IT assets. The strategic importance of this partnership lies in its potential to provide clients with predictive analytics, thereby enabling proactive decision-making and resource allocation.

In October BMC Software (US) completed the acquisition of a prominent IT asset management startup, which is expected to bolster its portfolio with innovative solutions tailored for small to medium-sized enterprises. This acquisition not only expands BMC's market reach but also enhances its ability to offer comprehensive solutions that cater to a broader audience. The strategic move underscores BMC's commitment to maintaining a competitive edge through diversification and innovation.

In September IBM (US) launched a new suite of IT asset management tools designed specifically for hybrid cloud environments. This initiative reflects IBM's recognition of the growing trend towards hybrid cloud solutions and the necessity for robust asset management in such settings. By aligning its offerings with current market demands, IBM positions itself as a leader in addressing the complexities associated with managing assets across diverse IT environments.

As of December the competitive trends in the IT Asset Management Software Market are increasingly defined by digitalization, sustainability, and the integration of AI technologies. Strategic alliances are becoming pivotal, as companies seek to enhance their capabilities and broaden their service offerings. The competitive differentiation is likely to evolve from traditional price-based competition towards a focus on innovation, technological advancement, and supply chain reliability. This shift suggests that organizations prioritizing cutting-edge solutions and sustainable practices will likely emerge as leaders in the market.

Key Companies in the IT Asset Management Software Market include

Industry Developments

  • Q2 2024: Ivanti Appoints New CEO to Drive Next Phase of Growth Ivanti, a major provider of IT asset management software, announced the appointment of Jeff Abbott as its new Chief Executive Officer, aiming to accelerate product innovation and global expansion.
  • Q2 2024: Asset Panda Raises $30 Million in Series B Funding to Expand IT Asset Management Platform Asset Panda, a cloud-based IT asset management software provider, secured $30 million in Series B funding to enhance its platform and scale operations in North America and Europe.
  • Q3 2024: ServiceNow Announces Strategic Partnership with Microsoft to Integrate IT Asset Management Solutions ServiceNow and Microsoft entered a strategic partnership to integrate ServiceNow's IT asset management capabilities with Microsoft Azure, aiming to streamline asset tracking and compliance for enterprise customers.
  • Q3 2024: Flexera Launches New SaaS Management Module for IT Asset Management Suite Flexera introduced a new SaaS management module within its IT asset management suite, enabling organizations to optimize software license usage and reduce costs associated with cloud applications.
  • Q4 2024: Snow Software Expands Global Footprint with New Office in Singapore Snow Software, a leader in IT asset management solutions, opened a new office in Singapore to support growing demand in the Asia-Pacific region and strengthen customer support capabilities.
  • Q4 2024: BMC Software Acquires AssetTrack to Enhance IT Asset Management Offerings BMC Software completed the acquisition of AssetTrack, a provider of RFID-based asset tracking solutions, to bolster its IT asset management product portfolio and improve real-time asset visibility.
  • Q1 2025: Freshworks Appoints New Chief Product Officer to Lead IT Asset Management Innovations Freshworks named Priya Singh as Chief Product Officer, tasking her with driving innovation in the company's IT asset management software and expanding its enterprise customer base.
  • Q1 2025: Certero Secures $15 Million Investment to Accelerate IT Asset Management Platform Development Certero, a UK-based IT asset management software provider, raised $15 million in growth capital to advance its platform's AI capabilities and expand into new international markets.
  • Q2 2025: SolarWinds Launches Enhanced IT Asset Management Solution with AI-Powered Analytics SolarWinds released an upgraded version of its IT asset management software featuring AI-powered analytics for improved asset tracking, lifecycle management, and compliance reporting.
  • Q2 2025: SysAid Technologies Announces Partnership with Oracle to Integrate IT Asset Management Tools SysAid Technologies partnered with Oracle to integrate its IT asset management tools with Oracle Cloud Infrastructure, aiming to deliver seamless asset tracking and reporting for joint customers.
  • Q3 2025: InvGate Wins Multi-Year IT Asset Management Contract with Major US Healthcare Provider InvGate secured a multi-year contract to provide IT asset management software to a leading US healthcare provider, supporting compliance and operational efficiency across hundreds of facilities.
  • Q3 2025: Aptean Acquires SaaS IT Asset Management Firm to Expand Cloud Offerings Aptean acquired a SaaS-based IT asset management company to strengthen its cloud portfolio and offer enhanced asset tracking solutions to enterprise clients.

Future Outlook

IT Asset Management Software Market Future Outlook

The IT Asset Management Software Market is projected to grow at an 8.22% CAGR from 2025 to 2035, driven by digital transformation, increased automation, and enhanced compliance requirements.

New opportunities lie in:

  • Integration of AI-driven analytics for predictive asset management.
  • Development of cloud-based solutions for remote asset tracking.
  • Expansion into emerging markets with tailored software solutions.

By 2035, the market is expected to be robust, reflecting substantial growth and innovation.

Market Segmentation

IT Asset Management Software Market End User Outlook

  • Large Enterprises
  • Small and Medium Enterprises
  • Government Organizations
  • Educational Institutions

IT Asset Management Software Market Industry Outlook

  • Information Technology
  • Healthcare
  • Finance
  • Manufacturing

IT Asset Management Software Market Application Outlook

  • IT Asset Tracking
  • License Management
  • Compliance Management
  • Inventory Management
  • Procurement Management

IT Asset Management Software Market Functionality Outlook

  • Asset Lifecycle Management
  • Configuration Management
  • Reporting and Analytics
  • Integration Capabilities

IT Asset Management Software Market Deployment Type Outlook

  • On-Premises
  • Cloud-Based
  • Hybrid

Report Scope

MARKET SIZE 20247422.2(USD Million)
MARKET SIZE 20258032.46(USD Million)
MARKET SIZE 203517701.29(USD Million)
COMPOUND ANNUAL GROWTH RATE (CAGR)8.22% (2025 - 2035)
REPORT COVERAGERevenue Forecast, Competitive Landscape, Growth Factors, and Trends
BASE YEAR2024
Market Forecast Period2025 - 2035
Historical Data2019 - 2024
Market Forecast UnitsUSD Million
Key Companies ProfiledServiceNow (US), BMC Software (US), IBM (US), Micro Focus (GB), ManageEngine (IN), Cherwell Software (US), Asset Panda (US), Samanage (US), SysAid (IL)
Segments CoveredApplication, Deployment Type, End User, Functionality, Industry
Key Market OpportunitiesIntegration of artificial intelligence enhances efficiency in the IT Asset Management Software Market.
Key Market DynamicsRising demand for automation and compliance drives innovation in IT Asset Management Software solutions.
Countries CoveredNorth America, Europe, APAC, South America, MEA

FAQs

How much is the IT Asset Management Software market?

The IT Asset Management Software Market size is expected to be valued at USD 6881.3 Million in 2023.

What is the growth rate of the IT Asset Management Software market?

The global market is projected to grow at a CAGR of 8.22% during the forecast period, 2024-2032.

Which region held the largest market share in the IT Asset Management Software market?

North America had the largest share of the global market.

Who are the key players in the IT Asset Management Software market?

The key players in the market are Freshworks Inc (U.S.) BMC Software (U.S.) SysAid Technologies Ltd. (Israel) ServiceNow Inc. (U.S.) Asset Panda (U.S.).

Which tool led the IT Asset Management Software market?

The Digital Asset Management category dominated the market in 2023.

Which end user had the largest market share in the IT Asset Management Software market?

Banking & Financial Service had the largest global market revenue share in 2023.

  1. SECTION I: EXECUTIVE SUMMARY AND KEY HIGHLIGHTS
    1. | 1.1 EXECUTIVE SUMMARY
    2. | 1.1.1 Market Overview
    3. | 1.1.2 Key Findings
    4. | 1.1.3 Market Segmentation
    5. | 1.1.4 Competitive Landscape
    6. | 1.1.5 Challenges and Opportunities
    7. | 1.1.6 Future Outlook
  2. SECTION II: SCOPING, METHODOLOGY AND MARKET STRUCTURE
    1. | 2.1 MARKET INTRODUCTION
    2. | 2.1.1 Definition
    3. | 2.1.2 Scope of the study
    4. |-- 2.1.2.1 Research Objective
    5. |-- 2.1.2.2 Assumption
    6. |-- 2.1.2.3 Limitations
    7. | 2.2 RESEARCH METHODOLOGY
    8. | 2.2.1 Overview
    9. | 2.2.2 Data Mining
    10. | 2.2.3 Secondary Research
    11. | 2.2.4 Primary Research
    12. |-- 2.2.4.1 Primary Interviews and Information Gathering Process
    13. |-- 2.2.4.2 Breakdown of Primary Respondents
    14. | 2.2.5 Forecasting Model
    15. | 2.2.6 Market Size Estimation
    16. |-- 2.2.6.1 Bottom-Up Approach
    17. |-- 2.2.6.2 Top-Down Approach
    18. | 2.2.7 Data Triangulation
    19. | 2.2.8 Validation
  3. SECTION III: QUALITATIVE ANALYSIS
    1. | 3.1 MARKET DYNAMICS
    2. | 3.1.1 Overview
    3. | 3.1.2 Drivers
    4. | 3.1.3 Restraints
    5. | 3.1.4 Opportunities
    6. | 3.2 MARKET FACTOR ANALYSIS
    7. | 3.2.1 Value chain Analysis
    8. | 3.2.2 Porter's Five Forces Analysis
    9. |-- 3.2.2.1 Bargaining Power of Suppliers
    10. |-- 3.2.2.2 Bargaining Power of Buyers
    11. |-- 3.2.2.3 Threat of New Entrants
    12. |-- 3.2.2.4 Threat of Substitutes
    13. |-- 3.2.2.5 Intensity of Rivalry
    14. | 3.2.3 COVID-19 Impact Analysis
    15. |-- 3.2.3.1 Market Impact Analysis
    16. |-- 3.2.3.2 Regional Impact
    17. |-- 3.2.3.3 Opportunity and Threat Analysis
  4. SECTION IV: QUANTITATIVE ANALYSIS
    1. | 4.1 Information and Communications Technology, BY Application (USD Million)
    2. | 4.1.1 IT Asset Tracking
    3. | 4.1.2 License Management
    4. | 4.1.3 Compliance Management
    5. | 4.1.4 Inventory Management
    6. | 4.1.5 Procurement Management
    7. | 4.2 Information and Communications Technology, BY Deployment Type (USD Million)
    8. | 4.2.1 On-Premises
    9. | 4.2.2 Cloud-Based
    10. | 4.2.3 Hybrid
    11. | 4.3 Information and Communications Technology, BY End User (USD Million)
    12. | 4.3.1 Large Enterprises
    13. | 4.3.2 Small and Medium Enterprises
    14. | 4.3.3 Government Organizations
    15. | 4.3.4 Educational Institutions
    16. | 4.4 Information and Communications Technology, BY Functionality (USD Million)
    17. | 4.4.1 Asset Lifecycle Management
    18. | 4.4.2 Configuration Management
    19. | 4.4.3 Reporting and Analytics
    20. | 4.4.4 Integration Capabilities
    21. | 4.5 Information and Communications Technology, BY Industry (USD Million)
    22. | 4.5.1 Information Technology
    23. | 4.5.2 Healthcare
    24. | 4.5.3 Finance
    25. | 4.5.4 Manufacturing
    26. | 4.6 Information and Communications Technology, BY Region (USD Million)
    27. | 4.6.1 North America
    28. |-- 4.6.1.1 US
    29. |-- 4.6.1.2 Canada
    30. | 4.6.2 Europe
    31. |-- 4.6.2.1 Germany
    32. |-- 4.6.2.2 UK
    33. |-- 4.6.2.3 France
    34. |-- 4.6.2.4 Russia
    35. |-- 4.6.2.5 Italy
    36. |-- 4.6.2.6 Spain
    37. |-- 4.6.2.7 Rest of Europe
    38. | 4.6.3 APAC
    39. |-- 4.6.3.1 China
    40. |-- 4.6.3.2 India
    41. |-- 4.6.3.3 Japan
    42. |-- 4.6.3.4 South Korea
    43. |-- 4.6.3.5 Malaysia
    44. |-- 4.6.3.6 Thailand
    45. |-- 4.6.3.7 Indonesia
    46. |-- 4.6.3.8 Rest of APAC
    47. | 4.6.4 South America
    48. |-- 4.6.4.1 Brazil
    49. |-- 4.6.4.2 Mexico
    50. |-- 4.6.4.3 Argentina
    51. |-- 4.6.4.4 Rest of South America
    52. | 4.6.5 MEA
    53. |-- 4.6.5.1 GCC Countries
    54. |-- 4.6.5.2 South Africa
    55. |-- 4.6.5.3 Rest of MEA
  5. SECTION V: COMPETITIVE ANALYSIS
    1. | 5.1 Competitive Landscape
    2. | 5.1.1 Overview
    3. | 5.1.2 Competitive Analysis
    4. | 5.1.3 Market share Analysis
    5. | 5.1.4 Major Growth Strategy in the Information and Communications Technology
    6. | 5.1.5 Competitive Benchmarking
    7. | 5.1.6 Leading Players in Terms of Number of Developments in the Information and Communications Technology
    8. | 5.1.7 Key developments and growth strategies
    9. |-- 5.1.7.1 New Product Launch/Service Deployment
    10. |-- 5.1.7.2 Merger & Acquisitions
    11. |-- 5.1.7.3 Joint Ventures
    12. | 5.1.8 Major Players Financial Matrix
    13. |-- 5.1.8.1 Sales and Operating Income
    14. |-- 5.1.8.2 Major Players R&D Expenditure. 2023
    15. | 5.2 Company Profiles
    16. | 5.2.1 ServiceNow (US)
    17. |-- 5.2.1.1 Financial Overview
    18. |-- 5.2.1.2 Products Offered
    19. |-- 5.2.1.3 Key Developments
    20. |-- 5.2.1.4 SWOT Analysis
    21. |-- 5.2.1.5 Key Strategies
    22. | 5.2.2 BMC Software (US)
    23. |-- 5.2.2.1 Financial Overview
    24. |-- 5.2.2.2 Products Offered
    25. |-- 5.2.2.3 Key Developments
    26. |-- 5.2.2.4 SWOT Analysis
    27. |-- 5.2.2.5 Key Strategies
    28. | 5.2.3 IBM (US)
    29. |-- 5.2.3.1 Financial Overview
    30. |-- 5.2.3.2 Products Offered
    31. |-- 5.2.3.3 Key Developments
    32. |-- 5.2.3.4 SWOT Analysis
    33. |-- 5.2.3.5 Key Strategies
    34. | 5.2.4 Micro Focus (GB)
    35. |-- 5.2.4.1 Financial Overview
    36. |-- 5.2.4.2 Products Offered
    37. |-- 5.2.4.3 Key Developments
    38. |-- 5.2.4.4 SWOT Analysis
    39. |-- 5.2.4.5 Key Strategies
    40. | 5.2.5 ManageEngine (IN)
    41. |-- 5.2.5.1 Financial Overview
    42. |-- 5.2.5.2 Products Offered
    43. |-- 5.2.5.3 Key Developments
    44. |-- 5.2.5.4 SWOT Analysis
    45. |-- 5.2.5.5 Key Strategies
    46. | 5.2.6 Cherwell Software (US)
    47. |-- 5.2.6.1 Financial Overview
    48. |-- 5.2.6.2 Products Offered
    49. |-- 5.2.6.3 Key Developments
    50. |-- 5.2.6.4 SWOT Analysis
    51. |-- 5.2.6.5 Key Strategies
    52. | 5.2.7 Asset Panda (US)
    53. |-- 5.2.7.1 Financial Overview
    54. |-- 5.2.7.2 Products Offered
    55. |-- 5.2.7.3 Key Developments
    56. |-- 5.2.7.4 SWOT Analysis
    57. |-- 5.2.7.5 Key Strategies
    58. | 5.2.8 Samanage (US)
    59. |-- 5.2.8.1 Financial Overview
    60. |-- 5.2.8.2 Products Offered
    61. |-- 5.2.8.3 Key Developments
    62. |-- 5.2.8.4 SWOT Analysis
    63. |-- 5.2.8.5 Key Strategies
    64. | 5.2.9 SysAid (IL)
    65. |-- 5.2.9.1 Financial Overview
    66. |-- 5.2.9.2 Products Offered
    67. |-- 5.2.9.3 Key Developments
    68. |-- 5.2.9.4 SWOT Analysis
    69. |-- 5.2.9.5 Key Strategies
    70. | 5.3 Appendix
    71. | 5.3.1 References
    72. | 5.3.2 Related Reports

Information and Communications Technology Market Segmentation

Information and Communications Technology By Application (USD Million, 2025-2035)

  • IT Asset Tracking
  • License Management
  • Compliance Management
  • Inventory Management
  • Procurement Management

Information and Communications Technology By Deployment Type (USD Million, 2025-2035)

  • On-Premises
  • Cloud-Based
  • Hybrid

Information and Communications Technology By End User (USD Million, 2025-2035)

  • Large Enterprises
  • Small and Medium Enterprises
  • Government Organizations
  • Educational Institutions

Information and Communications Technology By Functionality (USD Million, 2025-2035)

  • Asset Lifecycle Management
  • Configuration Management
  • Reporting and Analytics
  • Integration Capabilities

Information and Communications Technology By Industry (USD Million, 2025-2035)

  • Information Technology
  • Healthcare
  • Finance
  • Manufacturing
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