New York, July 29, 2019 (GLOBE NEWSWIRE) -- The growth of the market is governed by various factors such as growing demand for cloud-based software and stringent government regulations
The Software Asset Management Market is expected to reach USD 3.92 Billion by 2026, according to a new report by Reports and Data. Enterprise collaboration allows employees in an organization to share information along with work on projects from various geographic locations involving a combination of networking capabilities, software technologies, and collaborative methods. Techniques may include video conferencing, groupware, and document-sharing abilities. Several industry collaboration software tools have characteristics similar to those offered on successful social media sites.
Software Asset Management Market or SAM is a continuous and evolving method. It needs involvement from all levels of the organization, from the executive management team to each end-user. SAM is practiced by assuring that they do not include undesirable software onto a local computer system, by taking inventory of purchased products or by defining the purpose and goals of each software ecosystem in the organization.
There are three primary phases to SAM, which are reconciliation, review, reengineering and retooling. SAM enables control and accountability for spending and standards through user management and approval process which thereby results in best in class practice during the procurement phase. It allows control and responsibility for the retirement of IT/software assets managed by financial and physical objectives. It also includes planning and administration of the accomplishment of replacement/disposal of assets and a third-party contract for replacement/ disposal of IT assets.
Due the presence of advanced economies, like the United States (US) and Canada, North America is estimated to hold the largest share of 31.3% in 2018. North America is the most developed region in the market, as almost all large enterprises are located in this region. The region’s powerful financial position also allows it to invest heavily in advanced testing tools and technologies. Organizations in the region are driving beyond the public cloud and moving into a new period of hybrid IT, which combines private cloud, public cloud, and traditional IT. Factors such as stringent laws in these regions, require organizations to comply with the regulations. Moreover, the businesses in these regions are making considerable investments in technologies, which have generated the need to manage the life cycle of their complicated software assets.
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Further key findings from the report suggest
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Segments covered in the report:
For the purpose of this study, Reports and Data have segmented the market on the basis of Deployment, Components, Organization Size, End User and region:
Deployment Outlook (Revenue, USD Million; 2018-2026)
Components Outlook (Revenue, USD Million; 2018-2026)
Organization Size Outlook (Revenue, USD Million; 2018-2026)
End-Users Outlook (Revenue, USD Million; 2018-2026)
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Regional Outlook (Revenue, USD Billion; 2016-2026)
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