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IT Asset Management Software Market by Deployment and Geography - Forecast and Analysis 2022-2026

  • Published: Apr 2022
  • Pages: 120
  • SKU: IRTNTR40712
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The IT asset management software market share is expected to increase by USD 4.23 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 6.77%.

This market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers market segmentation by deployment (on-premises and cloud-based) and geography (North America, Europe, APAC, Middle East and Africa, and South America). The market report also offers information on several market vendors, including BMC Software Inc., Certero Ltd., Datalogic Spa, Dell Technologies Inc., Flexera Software LLC, Freshworks Inc., Hewlett Packard Enterprise Co., International Business Machines Corp., InvGate, Ivanti Inc., Koch Industries Inc., Microsoft Corp., Oracle Corp., PrismHR Inc., SAP SE, ServiceNow Inc., Snow Software AB, SolarWinds Corp., SysAid Technologies Ltd., and Ziff Davis LLC among others.

What will the IT Asset Management Software Market Size be During the Forecast Period?

IT Asset Management Software Market Size

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IT Asset Management Software Market: Key Drivers, Trends, and Challenges

Based on our research output, there has been a positive impact on the market growth during and post-COVID-19 era. The rapid adoption of asset management software and the growing importance of asset tracking is notably driving the information technology (IT) equity management software market growth, although factors such as integration and implementation issues may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the IT asset management software industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key IT Asset Management Software Market Driver

One of the key factors driving the global information technology (IT) asset management software market growth is the rapid adoption of asset management software and the growing importance of asset tracking. IT asset management and tracking systems are aimed at reducing the labour required for extracting information on the location, configuration, and identification of computer hardware and software while increasing the reliability and completeness of this information. Furthermore, asset management systems also reduce the risks associated with regulatory compliance, software licensing, and security vulnerabilities. With the growing importance of asset management solutions, vendors such as BMC (Boston Medical Center) Software, Infor, IBM, HPE, and ServiceNow are offering asset management and tracking solutions. Therefore, such factors are expected to drive the market during the forecast period.

Key IT Asset Management Software Market Trend

The growing adoption of cloud-based asset management software services is one of the key market trends that is expected to impact the industry positively in the forecast period. Organizations across the industries such as BFSI, telecom, healthcare, and manufacturing, including small, medium, and large-sized organizations, are focusing on reducing their overall capital expenditure (CAPEX) by adopting new technologies such as the cloud. SMEs are leveraging cloud-based solutions to increase the scalability of hardware and resources offered by cloud solution providers. With the rise in the adoption of cloud-based services, vendors in the market also started offering asset management SaaS. Vendors such as IBM and Aspera Technologies are offering cloud-based asset management solutions to organizations. Furthermore, the early adoption of IT asset management software will boost the market growth in the coming years.

Key IT Asset Management Software Market Challenge

One of the key challenges to the global information technology asset management software market growth is the integration and implementation issues. The selection of the right asset management tool is a major challenge faced by organizations. Organizations that fail to understand or conduct proper research on their business requirements and capabilities and limitations of solutions could end up with ineffective deployments. Furthermore, organizations also find it difficult to integrate IT asset management software into the existing business applications due to the lack of expertise and knowledge of customization of asset management software according to the business needs, which acts as a major challenge for the growth of the global market. Moreover, the deployment cost of asset management solutions is another challenge faced by organizations. Such factors may hamper the market growth during the forecast period.

This market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.

Parent Market Analysis

Technavio categorizes the global IT asset management software market as a part of the global application software market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the market during the forecast period.

Who are the Major IT Asset Management Software Market Vendors?

The report analyzes the market's competitive landscape and offers information on several market vendors, including:

 

  • BMC Software Inc.
  • Certero Ltd.
  • Datalogic Spa
  • Dell Technologies Inc.
  • Flexera Software LLC
  • Freshworks Inc.
  • Hewlett Packard Enterprise Co.
  • International Business Machines Corp.
  • InvGate
  • Ivanti Inc.
  • Koch Industries Inc.
  • Microsoft Corp.
  • Oracle Corp.
  • PrismHR Inc.
  • SAP SE
  • ServiceNow Inc.
  • Snow Software AB
  • SolarWinds Corp.
  • SysAid Technologies Ltd.
  • Ziff Davis LLC

 

This statistical study of the market encompasses successful business strategies deployed by the key vendors. The market is fragmented and the vendors are deploying growth strategies such as technological innovations, mergers, and partnerships to compete in the market.

Product Insights and News

  • BMC Software Inc. - The company offers IT asset management software such as BMC Helix ITSM. 
  • BMC Software Inc. - Under the unified segment, the company offers products such as BMC Helix Service and Operations Management, TrueSight IT Operations and Automation, Mainframe, and Control-M Workflow Orchestration. 

To make the most of the opportunities and recover from the post-COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

IT Asset Management Software Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

Which are the Key Regions for IT Asset Management Software Market?

IT Asset Management Software Market Market segmentation by region

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32% of the market's growth will originate from North America during the forecast period. US and Canada are the key markets for IT asset management software in North America. Market growth in this region will be faster than the growth of the market in South America and MEA.

The presence of large IT companies and growing technological advances such as digitalization in countries such as the US and Canada will facilitate market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

The market in North America witnessed a slowdown owing to the COVID-19 outbreak in 2020. Several end-user sectors, such as small and medium-sized enterprises (SMEs) and large enterprises, partially shut down their operations due to the pandemic in 2020. However, various IT companies offered the WFH facility to their employees and gradually started opting for cloud-based IT asset management software to manage their remote workforce since H1 2020. The increased adoption of cloud-based IT asset management software is expected to drive the growth of the regional market during the forecast period. 

What are the Revenue-generating Deployment Segments in the IT Asset Management Software Market?

IT Asset Management Software Market Segmentation

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The market share growth by the on-premises segment will be significant during the forecast period. On-premises IT asset management software is majorly used by large enterprises. The primary reason for the growing demand for on-premises IT asset management software is to gain control and ownership over the management of the software assets lifecycle, as well as the data generated and stored within the business applications. 

This report provides an accurate prediction of the contribution of all the segments to the growth of the market size and actionable market insights on post COVID-19 impact on each segment.

 

IT Asset Management Software Market Scope

Report Coverage

Details

Page number

120

Base year

2021

Forecast period

2022-2026

Growth momentum & CAGR

Accelerate at a CAGR of 6.77%

Market growth 2022-2026

$ 4.23 billion

Market structure

Fragmented

YoY growth (%)

6.35

Regional analysis

North America, Europe, APAC, Middle East and Africa, and South America

Performing market contribution

North America at 32%

Key consumer countries

US, Canada, China, UK, and Germany

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

BMC Software Inc., Certero Ltd., Datalogic Spa, Dell Technologies Inc., Flexera Software LLC, Freshworks Inc., Hewlett Packard Enterprise Co., International Business Machines Corp., InvGate, Ivanti Inc., Koch Industries Inc., Microsoft Corp., Oracle Corp., PrismHR Inc., SAP SE, ServiceNow Inc., Snow Software AB, SolarWinds Corp., SysAid Technologies Ltd., and Ziff Davis LLC

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period

Customization purview

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What are the Key Data Covered in this IT Asset Management Software Market Report?

  • CAGR of the market during the forecast period 2022-2026
  • Detailed information on factors that will drive market growth during the next five years
  • Precise estimation of the market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behaviour
  • The growth of the IT asset management software industry across North America, Europe, APAC, Middle East and Africa, and South America
  • A thorough analysis of the market's competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of market vendors

We can help! Our analysts can customize this report to meet your requirements. Get in touch

1. Executive Summary                         

               1.1 Market overview 

                              Exhibit 01:  Executive Summary – Chart on Market Overview

                              Exhibit 02:  Executive Summary – Data Table on Market Overview

                              Exhibit 03:  Executive Summary – Chart on Global Market Characteristics

                              Exhibit 04:  Executive Summary – Chart on Market by Geography

                              Exhibit 05:  Executive Summary – Chart on Market Segmentation by Deployment

                              Exhibit 06:  Executive Summary – Chart on Incremental Growth

                              Exhibit 07:  Executive Summary – Data Table on Incremental Growth

                              Exhibit 08:  Executive Summary – Chart on Vendor Market Positioning

2. Market Landscape                            

               2.1 Market ecosystem             

                              Exhibit 09:  Parent market

                              Exhibit 10:  Market Characteristics

3. Market Sizing                      

               3.1 Market definition

                              Exhibit 11:  Offerings of vendors included in the market definition

               3.2     Market segment analysis             

                              Exhibit 12: Market segments

               3.3 Market size 2021 

               3.4 Market outlook: Forecast for 2021-2026   

                              Exhibit 13:  Chart on Global - Market size and forecast 2021-2026 ($ million)

                              Exhibit 14:  Data Table on Global - Market size and forecast 2021-2026 ($ million)

                              Exhibit 15:  Chart on Global Market: Year-over-year growth 2021-2026 (%)

                              Exhibit 16:  Data Table on Global Market: Year-over-year growth 2021-2026 (%)

4. Five Forces Analysis                         

               4.1 Five Forces Summary         

                              Exhibit 17:  Five forces analysis - Comparison between2021 and 2026

               4.2 Bargaining power of buyers            

                              Exhibit 18:  Chart on Bargaining power of buyers – Impact of key factors 2021 and 2026

               4.3 Bargaining power of suppliers        

                              Exhibit 19:  Bargaining power of suppliers – Impact of key factors in 2021 and 2026

               4.4 Threat of new entrants     

                              Exhibit 20:  Threat of new entrants – Impact of key factors in 2021 and 2026

               4.5 Threat of substitutes          

                              Exhibit 21:  Threat of substitutes – Impact of key factors in 2021 and 2026

               4.6 Threat of rivalry   

                              Exhibit 22:  Threat of rivalry – Impact of key factors in 2021 and 2026

               4.7 Market condition 

                              Exhibit 23:  Chart on Market condition - Five forces 2021 and 2026

5. Market Segmentation by Deployment

               5.1 Market segments

                              Exhibit 24:  Chart on Deployment - Market share 2021-2026 (%)

                              Exhibit 25:  Data Table on Deployment - Market share 2021-2026 (%)

               5.2 Comparison by Deployment           

                              Exhibit 26:  Chart on Comparison by Deployment

                              Exhibit 27:  Data Table on Comparison by Deployment

               5.3 On-premises - Market size and forecast 2021-2026              

                              Exhibit 28:  Chart on On-premises - Market size and forecast 2021-2026 ($ million)

                              Exhibit 29:  Data Table on On-premises - Market size and forecast 2021-2026 ($ million)

                              Exhibit 30:  Chart on On-premises - Year-over-year growth 2021-2026 (%)

                              Exhibit 31:  Data Table on On-premises - Year-over-year growth 2021-2026 (%)

               5.4 Cloud-based - Market size and forecast 2021-2026              

                              Exhibit 32:  Chart on Cloud-based - Market size and forecast 2021-2026 ($ million)

                              Exhibit 33:  Data Table on Cloud-based - Market size and forecast 2021-2026 ($ million)

                              Exhibit 34:  Chart on Cloud-based - Year-over-year growth 2021-2026 (%)

                              Exhibit 35:  Data Table on Cloud-based - Year-over-year growth 2021-2026 (%)

               5.5 Market opportunity by Deployment            

                              Exhibit 36:  Market opportunity by Deployment ($ million)

6. Customer landscape                        

                              Technavio’s customer landscape matrix comparing Drivers or price sensitivity, Adoption lifecycle, importance in customer price basket, Adoption rate and Key purchase criteria

               6.1 Customer landscape overview       

                              Exhibit 37:  Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

7.    Geographic Landscape                

               7.1     Geographic segmentation           

                              Exhibit 38:  Chart on Market share by geography 2021-2026 (%)

                              Exhibit 39:  Data Table on Market share by geography 2021-2026 (%)

               7.2 Geographic comparison    

                              Exhibit 40:  Chart on Geographic comparison

                              Exhibit 41:  Data Table on Geographic comparison

               7.3 North America - Market size and forecast 2021-2026          

                              Exhibit 42:  Chart on North America - Market size and forecast 2021-2026 ($ million)

                              Exhibit 43:  Data Table on North America - Market size and forecast 2021-2026 ($ million)

                              Exhibit 44:  Chart on North America - Year-over-year growth 2021-2026 (%)

                              Exhibit 45:  Data Table on North America - Year-over-year growth 2021-2026 (%)

               7.4 Europe- Market size and forecast 2021-2026          

                              Exhibit 46:  Chart on Europe- Market size and forecast 2021-2026 ($ million)

                              Exhibit 47:  Data Table on Europe - Market size and forecast 2021-2026 ($ million)

                              Exhibit 48:  Chart on Europe - Year-over-year growth 2021-2026 (%)

                              Exhibit 49:  Data Table on Europe - Year-over-year growth 2021-2026 (%)

               7.5 APAC - Market size and forecast 2021-2026             

                              Exhibit 50:  Chart on APAC - Market size and forecast 2021-2026 ($ million)

                              Exhibit 51:  Data Table on APAC - Market size and forecast 2021-2026 ($ million)

                              Exhibit 52:  Chart on APAC - Year-over-year growth 2021-2026 (%)

                              Exhibit 53:  Data Table on APAC - Year-over-year growth 2021-2026 (%)

               7.6 Middle East and Africa - Market size and forecast 2021-2026           

                              Exhibit 54:  Chart on Middle East and Africa - Market size and forecast 2021-2026 ($ million)

                              Exhibit 55:  Data Table on Middle East and Africa - Market size and forecast 2021-2026 ($ million)

                              Exhibit 56:  Chart on Middle East and Africa - Year-over-year growth 2021-2026 (%)

                              Exhibit 57:  Data Table on Middle East and Africa - Year-over-year growth 2021-2026 (%)

               7.7 South America - Market size and forecast 2021-2026          

                              Exhibit 58:  Chart on South America - Market size and forecast 2021-2026 ($ million)

                              Exhibit 59:  Data Table on South America - Market size and forecast 2021-2026 ($ million)

                              Exhibit 60:  Chart on South America - Year-over-year growth 2021-2026 (%)

                              Exhibit 61:  Data Table on South America - Year-over-year growth 2021-2026 (%)

               7.8 US - Market size and forecast 2021-2026   

                              Exhibit 62:  Chart on US- Market size and forecast 2021-2026 ($ million)

                              Exhibit 63:  Data Table on US- Market size and forecast 2021-2026 ($ million)

                              Exhibit 64:  Chart on US- Year-over-year growth 2021-2026 (%)

                              Exhibit 65:  Data Table on US- Year-over-year growth 2021-2026 (%)

               7.9 China - Market size and forecast 2021-2026            

                              Exhibit 66:  Chart on China - Market size and forecast 2021-2026 ($ million)

                              Exhibit 67:  Data Table on China - Market size and forecast 2021-2026 ($ million)

                              Exhibit 68:  Chart on China - Year-over-year growth 2021-2026 (%)

                              Exhibit 69:  Data Table on China - Year-over-year growth 2021-2026 (%)

               7.10 Germany - Market size and forecast 2021-2026   

                              Exhibit 70:  Chart on Germany - Market size and forecast 2021-2026 ($ million)

                              Exhibit 71:  Data Table on Germany - Market size and forecast 2021-2026 ($ million)

                              Exhibit 72:  Chart on Germany - Year-over-year growth 2021-2026 (%)

                              Exhibit 73:  Data Table on Germany - Year-over-year growth 2021-2026 (%)

               7.11 Canada - Market size and forecast 2021-2026       

                              Exhibit 74:  Chart on Canada - Market size and forecast 2021-2026 ($ million)

                              Exhibit 75:  Data Table on Canada - Market size and forecast 2021-2026 ($ million)

                              Exhibit 76:  Chart on Canada - Year-over-year growth 2021-2026 (%)

                              Exhibit 77:  Data Table on Canada - Year-over-year growth 2021-2026 (%)

               7.12 UK - Market size and forecast 2021-2026

                              Exhibit 78:  Chart on UK - Market size and forecast 2021-2026 ($ million)

                              Exhibit 79:  Data Table on UK - Market size and forecast 2021-2026 ($ million)

                              Exhibit 80:  Chart on UK - Year-over-year growth 2021-2026 (%)

                              Exhibit 81:  Data Table on UK - Year-over-year growth 2021-2026 (%)

               7.13 Market opportunity by geography            

                              Exhibit 82:  Market opportunity by geography ($ million)

8. Drivers, Challenges, and Trends                  

               8.1 Market drivers      

                              8.1.1 Rapid adoption of asset management software and the growing importance of asset tracking

                              8.1.2 Increasing need to comply with asset management standards

                              8.1.3 Expansion of IT infrastructure

               8.2 Market challenges              

                              8.2.1 Integration and implementation issues

                              8.2.2 Increasing availability of open-source asset management solutions

                              8.2.3 Asset diversity

               8.3 Impact of drivers and challenges   

                              Exhibit 83:  Impact of drivers and challenges in 2021 and 2026

               8.4 Market trends      

                              8.4.1 Growing adoption of cloud-based asset management software services

                              8.4.2 Rapid proliferation of bring your own device (BYOD) policy

                              8.4.3 Evolution of the Internet of Things (IoT) and a rapidly growing number of IoT devices

9. Vendor Landscape                            

               9.1 Overview

               9.2 Vendor landscape

                              Exhibit 84:  Overview on Criticality of inputs and Factors of differentiation

               9.3 Landscape disruption         

                              Exhibit 85:  Overview on factors of disruption

               9.4 Industry risks        

                              Exhibit 86:  Impact of key risks on business

10. Vendor Analysis               

               10.1 Vendors covered              

                              Exhibit 87:  Vendors covered

               10.2 Market positioning of vendors    

                              Exhibit 88:  Matrix on vendor position and classification

               10.3 BMC Software Inc.           

                              Exhibit 89:  BMC Software Inc. - Overview

                              Exhibit 90:  BMC Software Inc. - Product / Service

                              Exhibit 91:  BMC Software Inc. - Key offerings

               10.4 Dell Technologies Inc.     

                              Exhibit 92:  Dell Technologies Inc. - Overview

                              Exhibit 93:  Dell Technologies Inc. - Business segments

                              Exhibit 94:  Dell Technologies Inc. - Key news

                              Exhibit 95:  Dell Technologies Inc. - Key offerings

                              Exhibit 96:  Dell Technologies Inc. - Segment focus

               10.5 Hewlett Packard Enterprise Co.  

                              Exhibit 97:  Hewlett Packard Enterprise Co. - Overview

                              Exhibit 98:  Hewlett Packard Enterprise Co. - Business segments

                              Exhibit 99:  Hewlett Packard Enterprise Co. - Key news

                              Exhibit 100:  Hewlett Packard Enterprise Co. - Key offerings

                              Exhibit 101:  Hewlett Packard Enterprise Co. - Segment focus

               10.6 International Business Machines Corp.    

                              Exhibit 102:  International Business Machines Corp. - Overview

                              Exhibit 103:  International Business Machines Corp. - Business segments

                              Exhibit 104:  International Business Machines Corp. - Key offerings

                              Exhibit 105:  International Business Machines Corp. - Segment focus

               10.7 Ivanti Inc.            

                              Exhibit 106:  Ivanti Inc. - Overview

                              Exhibit 107:  Ivanti Inc. - Product / Service

                              Exhibit 108:  Ivanti Inc. - Key news

                              Exhibit 109:  Ivanti Inc. - Key offerings

               10.8 Koch Industries Inc.         

                              Exhibit 110:  Koch Industries Inc. - Overview

                              Exhibit 111:  Koch Industries Inc. - Product / Service

                              Exhibit 112:  Koch Industries Inc. - Key offerings

               10.9 Microsoft Corp. 

                              Exhibit 113:  Microsoft Corp. - Overview

                              Exhibit 114:  Microsoft Corp. - Business segments

                              Exhibit 115:  Microsoft Corp. - Key news

                              Exhibit 116:  Microsoft Corp. - Key offerings

                              Exhibit 117:  Microso

Research Framework

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

TechnavioINFORMATION SOURCES

Primary sources

  • Manufacturers and suppliers
  • Channel partners
  • Industry experts
  • Strategic decision makers

Secondary sources

  • Industry journals and periodicals
  • Government data
  • Financial reports of key industry players
  • Historical data
  • Press releases
Technavio

TechnavioDATA ANALYSIS

Data Synthesis

  • Collation of data
  • Estimation of key figures
  • Analysis of derived insights

Data Validation

  • Triangulation with data models
  • Reference against proprietary databases
  • Corroboration with industry experts
Technavio

TechnavioREPORT WRITING

Qualitative

  • Market drivers
  • Market challenges
  • Market trends
  • Five forces analysis

Quantitative

  • Market size and forecast
  • Market segmentation
  • Geographical insights
  • Competitive landscape
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IT Asset Management Software market growth will increase by $4238.76 million during 2022-2026.
The it asset management software market is expected to grow at a CAGR of 6.77% during 2022-2026.
Technavio has segmented the it asset management software market by deployment (On-premises and Cloud-based) and geographic (North America, Europe, APAC, Middle East and Africa, and South America).
BMC Software Inc., Certero Ltd., Datalogic Spa, Dell Technologies Inc., Flexera Software LLC, Freshworks Inc., Hewlett Packard Enterprise Co., International Business Machines Corp., InvGate, Ivanti Inc., Koch Industries Inc., Microsoft Corp., Oracle Corp., PrismHR Inc., SAP SE, ServiceNow Inc., Snow Software AB, SolarWinds Corp., SysAid Technologies Ltd., Ziff Davis LLC are a few of the key vendors in the it asset management software market.
North America will register the highest growth rate of 31.89% among the other regions. Therefore, the it asset management software market in North America is expected to garner significant business opportunities for the vendors during the forecast period.
  • US
  • Canada
  • China
  • UK
  • Germany
The key factors driving the it asset management software market growth are:
  • Rapid adoption of asset management software and the growing importance of asset tracking
  • Growing adoption of cloud-based asset management software services
The it asset management software market vendors should focus on grabbing business opportunities from the on-premises segment as it accounted for the largest market share in the base year.
  • What are the key global market and the regional market share?
  • What are the revenue-generating key market segments?
  • What are the key factors driving and challenging this market’s growth?
  • Who are the key market vendors and their growth strategies?
  • What are the latest trends influencing the growth of this market?
  • What are the variables influencing the market growth in the primary regions?
  • What are the factors influencing the growth of the parent market?
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  • Data on revenue-generating market segments
  • Details on the market shares of various regions
  • Five-force market analysis

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