Enterprises often install license management software, which keeps track of installed software and ensures that users have the proper licenses to use it. Scanners, alerts, and the acquisition of fresh licenses might all be automated by the program. Additionally, it may remove unlicensed applications or make them difficult to use. The possibility of paying fines for illicit use is so diminished. Additionally, license advancement may be carried out by the software. Tracking software usage and aligning it with the most cost-effective licensure expenditure is a method that saves money. The market for licensing management is expanding as a result of the growing need for efficient and effective license management software among small, medium, and large-scale businesses. The emergence of cloud governance, the expansion of audit activities and licensing compliance audits, and the increased need to address piracy and theft issues are all contributing to the growth of the global software license management market.
The key players profiled in the report are Aspera Technologies (United States), Cherwell software (United States), Gemalto (Netherlands), IBM (United States), Oracle (United States), Quest (United States), ServiceNow (United States), Lab64 Net Licensing (Germany), TeamEDA (United States).
Analysts at HTF Market Intelligence have segmented the Global License Management Software market and presented a comprehensive analysis of the market by product type (Hardware-based Enforcement, Software-based & Cloud-based Enforcement), by end-user/application (B2B Vendors, B2C Vendors, Other), and by geography along with country-level break-up. This section of our report presents a realistic picture of the Global License Management Software industry. Investors and Industry players can easily understand the inherent opportunities and challenges related to their products in the targeted territory. .
Increasing adoption of technology along with the growing demand for compliance management are the key trends for the growth of the license management software market. The increasing adoption of cloud-based solutions and automation & integration has allowed companies to offer better value to the users as it offers greater flexibility, scalability, and accessibility furthermore integration with other software tools like IT asset management can help companies offer more streamlined and automated processes, with increasing regulatory requirements, license management software is being designed to help organizations ensure compliance with licensing agreements and avoid penalties another trend is subscription-based pricing this allows organizations to pay for the software on an ongoing basis rather than making a large upfront investment. These factors have proven to be the key trends for the growth of the license management software market.
Increasing demand for software asset management and open-source software along with an increasing demand for a cost-optimum method of complying with audit requirements are the reasons for the growth of the LSM market. Growing adoption of software and digital tools creates the demand for managing software assets, including licenses, and hence license management software is very vital for software access management also it is needed for managing open-source licenses and with the growing popularity of open-source software the demand for license management increases, Furthermore, Organizations must comply with licensing agreements and regulations, which can be complex and difficult to manage without software tools. License management software can help organizations stay in compliance and avoid costly penalties, other than prevention it also allows companies to reduce costs by ensuring they only pay for the licenses they need and use. These are the factors that drive the market growth for the license management software market
Increasing security concerns landscape and the evolving software ecosystem are the challenges that hamper the growth of the license management software market. The software ecosystem is constantly evolving, with new technologies, software versions, and deployment models being introduced all the time this increases the complexity and it can be cost-ineffective, and reduce efficiency, Further, the prevalent complexities in licensing models make it difficult for companies to handle different license types, usage metrics, and deployment scenarios. There are also security concerns as LMS often contains sensitive information about a company’s software licenses, which makes it a potential target for cyberattacks hence it is essential that LMS have robust security features to protect against data breaches these factors prove to be the key challenges that stymie the market growth of LMS market.
In June 2022, Oracle Corporation announced the completion of the acquisition of Cerner corporation, Combining Cerner’s clinical capabilities with Oracle’s enterprise platform, analytics, and automation expertise will change health and wellness in a way that simply hasn’t been possible before. The license management software market is highly fragmented this is because there are many different vendors offering a wide range of products and services, Vendors often have niche focuses and cater to the diverse needs of the users, there have also been a significant amount of mergers and acquisitions in the license management market this has led to the creation of new vendors and the consolidation of existing ones. The high degree of competition fosters innovation and puts pricing pressure on the organizations.
New Entrants/Investors, IT Industry, BFSI, Analysts and Strategic Business Planners, Venture and Capitalist, Government Research Organizations, Private Research Organization, End-Users, Others
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