License Management Market Report Overview
The market for License Management Market size is forecast to reach $1205 billion by 2027, growing at a CAGR of 8.56% from 2022 to 2027. The License Management Market is estimated to witness substantial growth over the forecast period 2022 to 2027. The Growing demand for effective and efficient license management software is expanding across all small large and medium scale enterprises. License management is a software management tool used by managers or vendors to manage and document as to where and how the company’s software products are able to run so as to ensure compliance with end-user license agreements. It helps to prevent the developer’s software from being copied, shared or otherwise illegally used by non-licensed users. Software asset management tools automate many of the tasks required to maintain compliance with software licenses, thereby controlling software spending. They facilitate the in-depth analysis of software assets by decoding software license entitlements, automating the collection of software consumption data. The Internet of Things device OEM licenses the device to the user with the software attached to the device as a complete product and passes through specific Windows terms in their own Internet of Things OEM agreements. The use of artificial intelligence continues to increase in many industries and within various technologies as innovative organizations use AI to realize competitive advantages. However, AI licensing presents unique issues and considerations that organizations should address before implementing an AI solution. There is increasing investment in IT infrastructure development, rapid adoption of digitalization by many businesses, technological advancement in cloud, growing demand for license management industry outlook in the forecast period 2022-2027.
License Management Market Segment Analysis – By Deployment
The market segment by deployment into on-premises and cloud. The cloud segment is expected to grow at a higher CAGR of 18% during the forecast period 2022-2027. In 2021, the cloud market was valued at 119.13 billion USD and is predicted to increase to 448.34 billion USD by 2027. It is due to cloud which enables new and more efficient ways of organizing, managing, and drawing insights from software and data. Cloud based named user deployment offers a simple and predictable access model that fits into broader software license optimization strategy. It helps shift to more systematic license management to maximize software benefits and support the identification of cost saving opportunities. It helps faster access to the tools and improves ability to adopt innovation.
License Management Market Segment Analysis – By Industry Vertical
The market segment by industry vertical into Information Technology, BFSI, Telecom, Manufacturing, Healthcare, Media and Entertainment and Others. The information technology is the leading segment and is expected to grow at a CAGR of 25% during the forecast period 2022-2027. License management in IT industry standardizes the procurement process, provides transparency, keeps the business in compliant and helps identify the unnecessary spending. License management In IT through log importation can cut down costs as much as 30%. Practicing license management gives companies a clear view of all the licenses being used across teams as well as how each particular software has been set up for use. When it comes time for a software audit, the information needed to assess risk and remain compliant will already be available.
Request for Sample Report @ https://www.industryarc.com/pdfdownload.php?id=500629
Report Price: $ 4500 (Single User License)
License Management Market Segment Analysis – By Geography
License Management Market by geography has been segmented into North America, Europe, APAC, South-America and RoW. North-America is expected to dominate the License Management Market in the forecast period 2022 to 2027 due to presence of developed economies like United States, Canada and due to the focus on innovations on innovations obtained from research and development and technologies. Technological changes such as the rapid increase in cloud computing and the virtualization of software are at the root cause of an increase in software licensing disputes. For Instance, SAP has settled the software licensing dispute with Anheuser-Busch, the U.S. subsidiary of beverage conglomerate AB InBev as it has breached its software license agreement by directly and indirectly accessing SAP systems and data without appropriate licenses, and of underpaying license fees due. In 2019, Oracle has changed its license so that Oracle JDK is free to individuals for use, development, testing, prototyping, and demonstrations, but requires a commercial license to avoid the GPLv2+CE license. This has fueled the quick adoption of the software licensing solutions in this region.
License Management Market Drivers
Growing adoption of license management in Banking, Financial Services and Insurance is analysed to drive the license management market growth over the forecast period:
License management software is highly being adopted by banking, financial services and insurance sector which demand an IT infrastructure that is available and meets rigorous internal and external service level requirements. As the segment majorly deals with end customers, who contribute to companies’ revenue, an enterprise needs to ensure that the end-user applications and business services are in compliance with the guidelines provided by the financial institutions and thus offer better security to their customers. BFSI sector is experiencing 300 times more cyber-attacks than other institutions. It requires hypervigilant security software which continuously updates the counterfeit any security breach. For instance, in 2019, Mastercard reported over 460,000 intrusion attempts each day, which has increased by 70% compared to the year prior. Such factors from banking, financial services and insurance sector are driving the market growth of license management market.
The application of license management improves all-round organizational efficiency and performance throughout organizations
License management is of high importance to organisations, as it helps with cost management, swiftness and more. License management software gradually multiplies throughout organisations from small start-ups to big enterprises; license management is increasingly crucial and complex. Also, by abiding to the correct license management practices, an organisation can quickly fit into market requirements and increase the company profits. License management rapidly delivers affordable and automated transparency into the enterprise software assets, usage, licenses and contracts where one can understand what software is used by whom. In 2019, DXC Technology opened a new digital transformation center in Louisiana, US. The new center would focus on development, delivery, and ongoing support for services and solutions, including applications, cloud computing, cybersecurity, data analytics, and intelligent automation.
Inquiry Before Buying @ https://www.industryarc.com/reports/request-quote?id=500629
License Management Market Challenges
License Metrics & License Restrictions issued by software companies is hampering the market growth of license management market
A licensing metric is a formula that is used to calculate the customer’s usage of the software. The perfect licensing metric should be fair, simple, scalable, and measurable. Unfortunately, the metrics issued by most software companies are the complete opposite. They are often complex, volatile, unfair, and hard to calculate. For Instance, the authorized user metric is relatively simple and easy to understand. However, IBM applied time restrictions to create the Concurrent User metric. Also, combined with the metric per install, they created the Floating User metric. If that wasn’t enough, they applied another restriction – on sessions opened – to create the FUSSI (Floating User Single Session Single Install) metric. All these changes made the metrics very complex for the normal consumer to understand and keep up with.
License Management Industry Outlook
Product launches, acquisitions, and R&D activities are key strategies adopted by players in the License Management Market. The License Management top 10 companies include:
1. Aspera Technologies
2. Cherwell Software
3. DXC Technology
4. Flexera Software
8. Quest Software
10. Snow Software
In Feb 2020, Aspera, a global provider of solutions and services for Software Asset Management has signed an agreement with the global SaaS technology provider to use Aspera SmartTrack. The Customer will use Aspera solutions to facilitate an automated license management strategy that ensures compliance for significant software vendors Microsoft, Autodesk, and VMware.
In Feb 2020, Flexera, one of the leaders in software installation, open-source software scanning, and software monetization, has acquired Revulytics, a recognized leader in software usage analytics. Through the acquisition, the company will be expanding its offering to provide software and technology companies with even more insights and enables their product teams to make better, data-driven decisions and gives compliance teams the actionable data they need to generate revenue from unlicensed use.
In April 2019, DXC Technology opened a new digital transformation center in Louisiana, US. The new center would focus on development, delivery, and ongoing support for services and solutions, including applications, cloud computing, cybersecurity, data analytics, and intelligent automation.
Direct Purchase @ https://www.industryarc.com/purchasereport.php?id=500629
The cloud segment in the license management market segmented by deployment is expected to grow with a higher CAGR of 18% in the forecast period 2022 to 2027. As it offers new and more efficient ways of organizing, managing, and drawing insights from software and data.
North-America is projected to hold the largest share of License Management Market during the forecast period due to presence of developed economies like United States, Canada and due to the focus on innovations on innovations obtained from research and development and technologies.
License Management provides transparency and practicing license management gives companies a clear view of all of the licenses being used across teams as well as how each particular software has been set up for use.
Increasing investment in IT infrastructure development, rapid adoption of digitalization by many businesses, technological advancement in cloud, and growing demand for license management market.
Software License Management Market – Forecast (2022 – 2027)
Risk Management Software Market – Forecast (2022 – 2027)
For more Information and Communications Technology Market reports, please click here
About IndustryARC: IndustryARC primarily focuses on Cutting Edge Technologies and Newer Applications market research. Our Custom Research Services are designed to provide insights on the constant flux in the global supply-demand gap of markets. Our strong team of analysts enables us to meet the client research needs at a rapid speed, with a variety of options for your business. Any other custom requirements can be discussed with our team, drop an e-mail to firstname.lastname@example.org to discuss more about our consulting services.