Market HighlightsAccording to Market Research Future (MRFR), an eminent research firm the global IT asset management software market is poised to touch a valuation of USD 3 BN by 2023, registering around 8% CAGR throughout the review period (2017-2023). There is a potential scope for ITAM software solutions to evolve further ahead of maintaining static inventory spreadsheets to empower IT departments to self-sufficiently manage the whole IT gamut effortlessly.
IT asset management (ITAM) software or IT inventory management software is used for maintaining stock inventories of IT assets in an organization. This software plays a vital role in reducing costs associated with the excess purchase of IT assets. Involved in the identification and information about IT hardware and solutions being used in an organization, the software helps in making decisions related to the purchase and deployment of IT assets.
Also Read: [FURL]https://www.marketwatch.com/press-release/it-asset-management-software-market-to-expand-at-8-cagr-by-2023-impact-of-covid-19-on-it-asset-management-software-market-2020-06-10?mod=mw_quote_news /[/FURL]
IT Asset Management Software Market – Regional Analysis
Currently, the North American region dominates the global IT asset management software market with the largest market share due to support from the technologically well-developed countries such as the US and Canada.
Moreover, factors boosting the growth of the regional market include the high investment made in the development of technologies that can cater the needs of lifecycle management of complicated software and strict laws and regulations regarding the purchase of assets.
IT Asset Management Software Market – Segments
For a better understanding, the [FURL=https://www.marketresearchfuture.com/reports/it-asset-management-software-market-920/]IT asset management software market growth[/FURL] has been segmented into six key dynamics:
By Component: Hardware, Software, and Services
By Deployment: On-cloud, On-premise, and Hybrid.
By Tools: On the basis of tools, the market is segmented into Discovery/Automated Inventory, License Management, Patch & Version Management, Request Management, Product/Service Catalog, and Digital Asset Management among others.
By Organization Size: Small & Medium Enterprises (SME’s) and Large Enterprises.
By End-user: BFSI, Retail, Aerospace & Defense, IT & Telecom, Energy & Power, and Automotive & Transportation among others
By Regions: Asia Pacific, North America, Europe, and the Rest-of-the-World.