Increased software license management features that help end-use industries optimize their business operations
— Emerging research
VANCOUVER, BC, CANADA, Aug. 2, 2022 /EINPresswire.com/ — The global licensing management market size reached USD 1,019.0 million in 2021 and is expected to register a revenue CAGR of 11.5% during of the forecast period, according to a latest analysis by Emergen Research. Companies are focusing on reducing their operational costs due to high commodity price volatility and declining profitability. Therefore, they look for license management software to reduce cost, optimize software utilization and avoid loss due to license non-compliance.
Additionally, license management allows companies to manage all of their contracts, agreements, license entitlements, and software inventory from a single location. The growing demand for license management can also be attributed to its many advantages. For example, it helps companies efficiently organize and store software contracts in a secure location. As a result, businesses can protect themselves against unforeseen license fees and penalties. License management has also allowed companies to reduce software purchase costs by avoiding penalties for non-compliance, reducing renewal fees and offering deep discounts.
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The report is an in-depth research study of the global License Management Market including latest trends, growth factors, developments, opportunities and competitive landscape. The research study includes an in-depth analysis of the market using advanced research methodologies such as SWOT analysis and Porter’s Five Forces analysis. The report is formulated using data gathered from primary and secondary research reviewed and validated by industry experts. The report provides an overview of market leaders, segmentation by type, application, and region, and technological advancements.
The report further explores key business players along with their in-depth profiling, product catalog, and strategic business decisions. The major players studied in the report are Oracle Corporation, DXC Technology Company, IBM Corporation, Ivanti, Flexera Software LLC, Thales Cloud Security, ServiceNow, Inc., Snow Software, Inc., Labs64 Netlicensing, Reprise Software, TeamEDA Inc. and Security Persistent, LLC
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Main highlights of the report
The cloud segment accounted for a major share of revenue in 2021. The rapid adoption of technologies such as big data, machine learning (ML) and others across various industries is a major driver of segment revenue growth . These technologies are used to monitor, analyze and visualize raw data.
Moreover, integrating these technologies with cloud-based solutions greatly helps companies improve their visualization capabilities and make complex data more accessible and usable. Cloud-based software has also boosted data usage and reduced data storage complications. This has dramatically increased business productivity, improved decision-making processes and reduced operational costs.
The audit services segment accounted for a major share of revenue in 2021. Increased awareness about the various benefits of audit management software is a major driver of market revenue growth in the segment. For example, audit software allows companies to streamline their audit processes while complying with regulations or internal policies.
In addition, this type of software facilitates the definition, implementation and monitoring of audit procedures for various purposes, including quality management, health and environmental protection. The integration of emerging technologies such as artificial intelligence (AI) and others with audit management software, which facilitates the generation of high quality reports and maintains accuracy during the audit, can also be attributed to increased demand for license management in audit services.
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Emergen Research has segmented the global license management market based on mode of deployment, application, industry, and region:
Deployment Mode Outlook (Revenue, USD Million; 2019-2030)
On the site
Application Area Outlook (Revenue, USD Million; 2019-2030)
Operation and analysis
Software inventory management
Industry Outlook (Revenue, USD Million; 2019-2030)
Banking and financial services
Media and entertainment
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The regional bifurcation of the license management market includes:
North America (USA, Canada)
Europe (UK, Italy, Germany, France, Rest of EU)
Asia-Pacific (India, Japan, China, South Korea, Australia, rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East and Africa (Saudi Arabia, United Arab Emirates, South Africa, Rest of MEA)
The report aims to provide a comprehensive analysis of the global License Management market with important details about the major market players from relevant primary and secondary research data. The report also aims to benefit the user by providing constructive data to better understand the market growth, size and investment approaches. Additionally, the report provides in-depth analysis of the License Management market, including key data, such as factors influencing market growth, buyers & sellers, production & consumption, and revenue.
Key questions answered by the report:
What will be the estimated growth rate of the License Management market by 2030?
Who are the key market distributors, vendors and manufacturers?
What are the driving and restraining factors for the growth of the License Management market through the forecast period?
What are the current and future market trends of the License Management market?
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