Bharat Book Bureau Provides the Trending Market Research Report on “Global License Management Market Forecast to 2022” under Technology & Media. The report provides information on industry overview, market size, latest developments, industry trends, Key players, global presence, and their future prospects.
Increasing demand among enterprises to optimize their software investments and the growing cloud hosting business are driving the growth of the license management market
The license management market size is expected to grow from USD 629.6 million in 2017 to USD 1,141.9 million by 2022, at a Compound Annual Growth Rate (CAGR) of 12.6% during the forecast period. The market growth is driven by the increasing demand among enterprises to optimize their software investments. The growing cloud hosting business and rapidly increasing number of Internet of Things (IoT) devices have further fueled the growth of the license management market globally. However, various regions have different regulations, which may restrain the growth of the market.
The software segment is expected to have the larger market size during the forecast period
Software license management is becoming very popular among enterprises, resulting in its increased use across all the major industry verticals, such as Information Technology (IT); Banking, Financial Services, and Insurance (BFSI); telecom; manufacturing; healthcare; media and entertainment; retail and consumer goods; and others (energy and utilities, government, travel and transportation). Software license management assists enterprises in managing license compliance, reducing the overall IT costs, improving security, and lowering the risk of non-compliance.
The on-premises deployment type is expected to hold the larger market size during the forecast period
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The on-premises deployment type proves to be more cumbersome and expensive than the license management solutions deployed using the cloud. For the on-premises deployment of license management software, companies need specialized software, hardware, and skilled employees to implement and monitor the applications on-premises. This incurs higher costs for the enterprises. Moreover, many organizations are very cautious about data integrity and privacy issues in the cloud deployment. Therefore, they prefer on-premises deployment over the cloud model.
North America is expected to hold the largest market size, whereas Asia Pacific (APAC) is expected to have the fastest growth rate during the forecast period
North America has the first-mover advantage in the adoption of new technologies, including the cloud technology. Therefore, companies are willingly investing in North America. The major factors driving the growth of the license management market in North America are the stable economy, technology enhancements, and better infrastructure. APAC is one of the fastest-growing economies and has a favorable market for license management software and service vendors. Countries such as India, China, Australia, and Japan are the major contributors to the license management software market in APAC.
In the process of determining and verifying the market size of the several segments and subsegments gathered through secondary research, extensive primary interviews were conducted with key people. The break-up of the profiles of the primary participants is given below:
– By Company: Tier 1 – 22%, Tier 2 – 41%, and Tier 3 – 37%
– By Designation: C-Level – 72%, Director Level – 19%, and Manager Level – 9%
– By Region: North America – 64%, Europe – 19%, APAC – 12%, MEA –3%, and Latin America – 2%
The license management market includes several vendors, such as Aspera Technologies (US), Cherwell Software (US), DXC Technology (US), Flexera Software (US), Gemalto (Netherlands), IBM (US), Oracle (US), Quest Software (US), ServiceNow (US), Snow Software (Sweden), Labs64 NetLicensing (Germany), Reprise Software (US), and TeamEDA (US).
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