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IT Asset Management Market By Component, By Deployment Model, By Enterprise Size, By Industry Vertical: Global Opportunity Analysis and Industry Forecast, 2022-2031

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    Report

  • 268 Pages
  • September 2023
  • Region: Global
  • Allied Market Research
  • ID: 5725276
Description Jump to:
The IT asset management (ITAM) involves using contractual, financial, and inventory data to track and make strategic decisions about information technology (IT) assets. This enables easy identification and ensures that redundant assets are optimized for greater efficiency. In addition, it assists to optimize costs by reducing the total number of assets in use and extending the life of those assets, avoiding costly upgrades. Furthermore, IT assets are maintained according to the lifecycle stage such as asset repair, upgrade and replacement. Moreover, IT asset management leads to efficient use of resources, eliminate risk, minimizes waste and reduces cost. By implementing an ITAM solution, an enterprise gets real-time data on the state of all its assets and can make informed decisions about asset use. Furthermore, the IT asset management provides industries with flexibility and scalability to enable a smooth integration of business processes, which ultimately support the market growth.

Factors such as surge leveraging technology to cut costs and add capabilities and acceleration of digital transformation in enterprises due to COVID-19 outbreak, thus driving the growth of the market. In addition, surge in deployment of cloud-based IT asset management solutions, strengthens the market growth for the future. Furthermore, the emergence of industrial internet of things (IIoT) and industry 4.0 and expansion of Interconnected IT Infrastructures are expected to provide the lucrative growth opportunities for the market in the upcoming years. However, data security & privacy concerns, high initial cost associated with implementation and maintenance and lack of skilled professional hamper the market growth.

The IT asset management market is segmented into component, deployment model, enterprise size, industry vertical, and region. On the basis of component, it is bifurcated into solution and services. On the basis of deployment model, it is segregated into cloud and on-premise. On the basis of industry vertical, it is segregated into IT and telecom, manufacturing, BFSI, healthcare and life science, government and public sector, education, energy and utility and others. On the basis of organization size, it is categorized into SMEs and large enterprise. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

The market players operating in the IT asset management market, include BMC Software Inc., Dell Inc., Flexera Software LLC, Freshworks Inc., HP Inc., IBM Corporation, IFS AB, Infor, Microsoft Corporation and Oracle Corporation. These major players have adopted various key development strategies such as business expansion, new product launches, and partnerships, which help to drive the growth of the IT asset management market globally.

Key Benefits For Stakeholders

  • The study provides an in-depth analysis of the global IT asset management market forecast along with the current and future trends to explain the imminent investment pockets.
  • Information about key drivers, restraints, and opportunities and their impact analysis on global IT asset management market trend is provided in the report.
  • The Porter’s five forces analysis illustrates the potency of the buyers and suppliers operating in the industry.
  • The quantitative analysis of the global IT asset management market from 2022 to 2031 is provided to determine the market potential.

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  • Historic market data
  • Key player details (including location, contact details, supplier/vendor network etc. in excel format)
  • Market share analysis of players at global/region/country level
  • SWOT Analysis

Key Market Segments

By Component

  • Solution
  • Service

By Deployment Model

  • On Premise
  • Cloud

By Enterprise Size

  • Large Enterprises
  • SMEs

By Industry Vertical

  • IT and Telecom
  • Manufacturing
  • BFSI
  • Healthcare and Life Science
  • Government and Public Sector
  • Education
  • Energy and Utility
  • Others

By Region

  • North America
  • U.S.
  • Canada
  • Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Rest of Europe
  • Asia-Pacific
  • China
  • Japan
  • India
  • Australia
  • South Korea
  • Rest of Asia-Pacific
  • LAMEA
  • Latin America
  • Middle East
  • Africa
  • Key Market Players
  • Snow Software AB
  • HP Inc.
  • BMC Software Inc.
  • Flexera Software LLC
  • Oracle Corporation
  • Dell Inc.
  • IBM Corporation
  • ServiceNow Inc.
  • Aspera Technologies Inc.
  • Microsoft Corporation

 

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Table of Contents

CHAPTER 1: INTRODUCTION
1.1. Report description
1.2. Key market segments
1.3. Key benefits to the stakeholders
1.4. Research methodology
CHAPTER 2: EXECUTIVE SUMMARY
2.1. CXO Perspective
CHAPTER 3: MARKET OVERVIEW
3.1. Market definition and scope
3.2. Key findings
3.3. Porter’s five forces analysis
3.4. Market dynamics
CHAPTER 4: IT ASSET MANAGEMENT MARKET, BY COMPONENT
4.1. Overview
4.2. Solution
4.3. Service
CHAPTER 5: IT ASSET MANAGEMENT MARKET, BY DEPLOYMENT MODEL
5.1. Overview
5.2. On Premise
5.3. Cloud
CHAPTER 6: IT ASSET MANAGEMENT MARKET, BY ENTERPRISE SIZE
6.1. Overview
6.2. Large Enterprises
6.3. SMEs
CHAPTER 7: IT ASSET MANAGEMENT MARKET, BY INDUSTRY VERTICAL
7.1. Overview
7.2. IT and Telecom
7.3. Manufacturing
7.4. BFSI
7.5. Healthcare and Life Science
7.6. Government and Public Sector
7.7. Education
7.8. Energy and Utility
7.9. Others
CHAPTER 8: IT ASSET MANAGEMENT MARKET, BY REGION
8.1. Overview
8.2. North America
8.3. Europe
8.4. Asia-Pacific
8.5. LAMEA
CHAPTER 9: COMPETITIVE LANDSCAPE
9.1. Introduction
9.2. Top winning strategies
9.3. Product mapping of top 10 player
9.4. Competitive dashboard
9.5. Competitive heatmap
9.6. Top player positioning, 2021
CHAPTER 10: COMPANY PROFILES
10.1. IBM Corporation
10.2. Microsoft Corporation
10.3. Dell Inc.
10.4. HP Inc.
10.5. Oracle Corporation
10.6. BMC Software Inc.
10.7. ServiceNow Inc.
10.8. Flexera Software LLC
10.9. Snow Software AB
10.10. Aspera Technologies Inc.
List of Tables
Table 01. Global It Asset Management Market, by Component, 2021-2031 ($ Million)
Table 02. It Asset Management Market for Solution, by Region, 2021-2031 ($ Million)
Table 03. It Asset Management Market for Service, by Region, 2021-2031 ($ Million)
Table 04. Global It Asset Management Market, by Deployment Model, 2021-2031 ($ Million)
Table 05. It Asset Management Market for on Premise, by Region, 2021-2031 ($ Million)
Table 06. It Asset Management Market for Cloud, by Region, 2021-2031 ($ Million)
Table 07. Global It Asset Management Market, by Enterprise Size, 2021-2031 ($ Million)
Table 08. It Asset Management Market for Large Enterprises, by Region, 2021-2031 ($ Million)
Table 09. It Asset Management Market for Smes, by Region, 2021-2031 ($ Million)
Table 10. Global It Asset Management Market, by Industry Vertical, 2021-2031 ($ Million)
Table 11. It Asset Management Market for It and Telecom, by Region, 2021-2031 ($ Million)
Table 12. It Asset Management Market for Manufacturing, by Region, 2021-2031 ($ Million)
Table 13. It Asset Management Market for Bfsi, by Region, 2021-2031 ($ Million)
Table 14. It Asset Management Market for Healthcare and Life Science, by Region, 2021-2031 ($ Million)
Table 15. It Asset Management Market for Government and Public Sector, by Region, 2021-2031 ($ Million)
Table 16. It Asset Management Market for Education, by Region, 2021-2031 ($ Million)
Table 17. It Asset Management Market for Energy and Utility, by Region, 2021-2031 ($ Million)
Table 18. It Asset Management Market for Others, by Region, 2021-2031 ($ Million)
Table 19. It Asset Management Market, by Region, 2021-2031 ($ Million)
Table 20. North America It Asset Management Market, by Component, 2021-2031 ($ Million)
Table 21. North America It Asset Management Market, by Deployment Model, 2021-2031 ($ Million)
Table 22. North America It Asset Management Market, by Enterprise Size, 2021-2031 ($ Million)
Table 23. North America It Asset Management Market, by Industry Vertical, 2021-2031 ($ Million)
Table 24. North America It Asset Management Market, by Country, 2021-2031 ($ Million)
Table 25. U.S. It Asset Management Market, by Component, 2021-2031 ($ Million)
Table 26. U.S. It Asset Management Market, by Deployment Model, 2021-2031 ($ Million)
Table 27. U.S. It Asset Management Market, by Enterprise Size, 2021-2031 ($ Million)
Table 28. U.S. It Asset Management Market, by Industry Vertical, 2021-2031 ($ Million)
Table 29. Canada It Asset Management Market, by Component, 2021-2031 ($ Million)
Table 30. Canada It Asset Management Market, by Deployment Model, 2021-2031 ($ Million)
Table 31. Canada It Asset Management Market, by Enterprise Size, 2021-2031 ($ Million)
Table 32. Canada It Asset Management Market, by Industry Vertical, 2021-2031 ($ Million)
Table 33. Europe It Asset Management Market, by Component, 2021-2031 ($ Million)
Table 34. Europe It Asset Management Market, by Deployment Model, 2021-2031 ($ Million)
Table 35. Europe It Asset Management Market, by Enterprise Size, 2021-2031 ($ Million)
Table 36. Europe It Asset Management Market, by Industry Vertical, 2021-2031 ($ Million)
Table 37. Europe It Asset Management Market, by Country, 2021-2031 ($ Million)
Table 38. Germany It Asset Management Market, by Component, 2021-2031 ($ Million)
Table 39. Germany It Asset Management Market, by Deployment Model, 2021-2031 ($ Million)
Table 40. Germany It Asset Management Market, by Enterprise Size, 2021-2031 ($ Million)
Table 41. Germany It Asset Management Market, by Industry Vertical, 2021-2031 ($ Million)
Table 42. UK It Asset Management Market, by Component, 2021-2031 ($ Million)
Table 43. UK It Asset Management Market, by Deployment Model, 2021-2031 ($ Million)
Table 44. UK It Asset Management Market, by Enterprise Size, 2021-2031 ($ Million)
Table 45. UK It Asset Management Market, by Industry Vertical, 2021-2031 ($ Million)
Table 46. France It Asset Management Market, by Component, 2021-2031 ($ Million)
Table 47. France It Asset Management Market, by Deployment Model, 2021-2031 ($ Million)
Table 48. France It Asset Management Market, by Enterprise Size, 2021-2031 ($ Million)
Table 49. France It Asset Management Market, by Industry Vertical, 2021-2031 ($ Million)
Table 50. Italy It Asset Management Market, by Component, 2021-2031 ($ Million)
Table 51. Italy It Asset Management Market, by Deployment Model, 2021-2031 ($ Million)
Table 52. Italy It Asset Management Market, by Enterprise Size, 2021-2031 ($ Million)
Table 53. Italy It Asset Management Market, by Industry Vertical, 2021-2031 ($ Million)
Table 54. Spain It Asset Management Market, by Component, 2021-2031 ($ Million)
Table 55. Spain It Asset Management Market, by Deployment Model, 2021-2031 ($ Million)
Table 56. Spain It Asset Management Market, by Enterprise Size, 2021-2031 ($ Million)
Table 57. Spain It Asset Management Market, by Industry Vertical, 2021-2031 ($ Million)
Table 58. Rest of Europe It Asset Management Market, by Component, 2021-2031 ($ Million)
Table 59. Rest of Europe It Asset Management Market, by Deployment Model, 2021-2031 ($ Million)
Table 60. Rest of Europe It Asset Management Market, by Enterprise Size, 2021-2031 ($ Million)
Table 61. Rest of Europe It Asset Management Market, by Industry Vertical, 2021-2031 ($ Million)
Table 62. Asia-Pacific It Asset Management Market, by Component, 2021-2031 ($ Million)
Table 63. Asia-Pacific It Asset Management Market, by Deployment Model, 2021-2031 ($ Million)
Table 64. Asia-Pacific It Asset Management Market, by Enterprise Size, 2021-2031 ($ Million)
Table 65. Asia-Pacific It Asset Management Market, by Industry Vertical, 2021-2031 ($ Million)
Table 66. Asia-Pacific It Asset Management Market, by Country, 2021-2031 ($ Million)
Table 67. China It Asset Management Market, by Component, 2021-2031 ($ Million)
Table 68. China It Asset Management Market, by Deployment Model, 2021-2031 ($ Million)
Table 69. China It Asset Management Market, by Enterprise Size, 2021-2031 ($ Million)
Table 70. China It Asset Management Market, by Industry Vertical, 2021-2031 ($ Million)
Table 71. Japan It Asset Management Market, by Component, 2021-2031 ($ Million)
Table 72. Japan It Asset Management Market, by Deployment Model, 2021-2031 ($ Million)
Table 73. Japan It Asset Management Market, by Enterprise Size, 2021-2031 ($ Million)
Table 74. Japan It Asset Management Market, by Industry Vertical, 2021-2031 ($ Million)
Table 75. India It Asset Management Market, by Component, 2021-2031 ($ Million)
Table 76. India It Asset Management Market, by Deployment Model, 2021-2031 ($ Million)
Table 77. India It Asset Management Market, by Enterprise Size, 2021-2031 ($ Million)
Table 78. India It Asset Management Market, by Industry Vertical, 2021-2031 ($ Million)
Table 79. Australia It Asset Management Market, by Component, 2021-2031 ($ Million)
Table 80. Australia It Asset Management Market, by Deployment Model, 2021-2031 ($ Million)
Table 81. Australia It Asset Management Market, by Enterprise Size, 2021-2031 ($ Million)
Table 82. Australia It Asset Management Market, by Industry Vertical, 2021-2031 ($ Million)
Table 83. South Korea It Asset Management Market, by Component, 2021-2031 ($ Million)
Table 84. South Korea It Asset Management Market, by Deployment Model, 2021-2031 ($ Million)
Table 85. South Korea It Asset Management Market, by Enterprise Size, 2021-2031 ($ Million)
Table 86. South Korea It Asset Management Market, by Industry Vertical, 2021-2031 ($ Million)
Table 87. Rest of Asia-Pacific It Asset Management Market, by Component, 2021-2031 ($ Million)
Table 88. Rest of Asia-Pacific It Asset Management Market, by Deployment Model, 2021-2031 ($ Million)
Table 89. Rest of Asia-Pacific It Asset Management Market, by Enterprise Size, 2021-2031 ($ Million)
Table 90. Rest of Asia-Pacific It Asset Management Market, by Industry Vertical, 2021-2031 ($ Million)
Table 91. LAMEA It Asset Management Market, by Component, 2021-2031 ($ Million)
Table 92. LAMEA It Asset Management Market, by Deployment Model, 2021-2031 ($ Million)
Table 93. LAMEA It Asset Management Market, by Enterprise Size, 2021-2031 ($ Million)
Table 94. LAMEA It Asset Management Market, by Industry Vertical, 2021-2031 ($ Million)
Table 95. LAMEA It Asset Management Market, by Country, 2021-2031 ($ Million)
Table 96. Latin America It Asset Management Market, by Component, 2021-2031 ($ Million)
Table 97. Latin America It Asset Management Market, by Deployment Model, 2021-2031 ($ Million)
Table 98. Latin America It Asset Management Market, by Enterprise Size, 2021-2031 ($ Million)
Table 99. Latin America It Asset Management Market, by Industry Vertical, 2021-2031 ($ Million)
Table 100. Middle East It Asset Management Market, by Component, 2021-2031 ($ Million)
Table 101. Middle East It Asset Management Market, by Deployment Model, 2021-2031 ($ Million)
Table 102. Middle East It Asset Management Market, by Enterprise Size, 2021-2031 ($ Million)
Table 103. Middle East It Asset Management Market, by Industry Vertical, 2021-2031 ($ Million)
Table 104. Africa It Asset Management Market, by Component, 2021-2031 ($ Million)
Table 105. Africa It Asset Management Market, by Deployment Model, 2021-2031 ($ Million)
Table 106. Africa It Asset Management Market, by Enterprise Size, 2021-2031 ($ Million)
Table 107. Africa It Asset Management Market, by Industry Vertical, 2021-2031 ($ Million)
Table 108. IBM Corporation: Key Executives
Table 109. IBM Corporation: Company Snapshot
Table 110. IBM Corporation: Service Segments
Table 111. IBM Corporation: Product Portfolio
Table 112. IBM Corporation: Key Stratergies
Table 113. Microsoft Corporation: Key Executives
Table 114. Microsoft Corporation: Company Snapshot
Table 115. Microsoft Corporation: Service Segments
Table 116. Microsoft Corporation: Product Portfolio
Table 117. Microsoft Corporation: Key Stratergies
Table 118. Dell Inc.: Key Executives
Table 119. Dell Inc.: Company Snapshot
Table 120. Dell Inc.: Service Segments
Table 121. Dell Inc.: Product Portfolio
Table 122. Dell Inc.: Key Stratergies
Table 123. Hp Inc.: Key Executives
Table 124. Hp Inc.: Company Snapshot
Table 125. Hp Inc.: Product Segments
Table 126. Hp Inc.: Product Portfolio
Table 127. Hp Inc.: Key Stratergies
Table 128. Oracle Corporation: Key Executives
Table 129. Oracle Corporation: Company Snapshot
Table 130. Oracle Corporation: Service Segments
Table 131. Oracle Corporation: Product Portfolio
Table 132. Bmc Software Inc.: Key Executives
Table 133. Bmc Software Inc.: Company Snapshot
Table 134. Bmc Software Inc.: Service Segments
Table 135. Bmc Software Inc.: Product Portfolio
Table 136. Bmc Software Inc.: Key Stratergies
Table 137. Servicenow Inc.: Key Executives
Table 138. Servicenow Inc.: Company Snapshot
Table 139. Servicenow Inc.: Service Segments
Table 140. Servicenow Inc.: Product Portfolio
Table 141. Flexera Software LLC: Key Executives
Table 142. Flexera Software LLC: Company Snapshot
Table 143. Flexera Software LLC: Service Segments
Table 144. Flexera Software LLC: Product Portfolio
Table 145. Flexera Software LLC: Key Stratergies
Table 146. Snow Software Ab: Key Executives
Table 147. Snow Software Ab: Company Snapshot
Table 148. Snow Software Ab: Service Segments
Table 149. Snow Software Ab: Product Portfolio
Table 150. Aspera Technologies Inc.: Key Executives
Table 151. Aspera Technologies Inc.: Company Snapshot
Table 152. Aspera Technologies Inc.: Service Segments
Table 153. Aspera Technologies Inc.: Product Portfolio
List of Figures
Figure 01. It Asset Management Market, 2021-2031
Figure 02. Segmentation of It Asset Management Market, 2021-2031
Figure 03. Top Impacting Factors in It Asset Management Market (2022 to 2031)
Figure 04. Top Investment Pockets in It Asset Management Market (2022-2031)
Figure 05. Moderate to High Bargaining Power of Suppliers
Figure 06. Moderate to High Bargaining Power of Buyers
Figure 07. Moderate-To-High Threat of Substitutes
Figure 08. High Threat of New Entrants
Figure 09. High Intensity of Rivalry
Figure 10. Global It Asset Management Market: Drivers, Restraints and Opportunities
Figure 11. It Asset Management Market, by Component, 2021 and 2031 (%)
Figure 12. Comparative Share Analysis of It Asset Management Market for Solution, by Country 2021 and 2031 (%)
Figure 13. Comparative Share Analysis of It Asset Management Market for Service, by Country 2021 and 2031 (%)
Figure 14. It Asset Management Market, by Deployment Model, 2021 and 2031 (%)
Figure 15. Comparative Share Analysis of It Asset Management Market for on Premise, by Country 2021 and 2031 (%)
Figure 16. Comparative Share Analysis of It Asset Management Market for Cloud, by Country 2021 and 2031 (%)
Figure 17. It Asset Management Market, by Enterprise Size, 2021 and 2031 (%)
Figure 18. Comparative Share Analysis of It Asset Management Market for Large Enterprises, by Country 2021 and 2031 (%)
Figure 19. Comparative Share Analysis of It Asset Management Market for Smes, by Country 2021 and 2031 (%)
Figure 20. It Asset Management Market, by Industry Vertical, 2021 and 2031 (%)
Figure 21. Comparative Share Analysis of It Asset Management Market for It and Telecom, by Country 2021 and 2031 (%)
Figure 22. Comparative Share Analysis of It Asset Management Market for Manufacturing, by Country 2021 and 2031 (%)
Figure 23. Comparative Share Analysis of It Asset Management Market for Bfsi, by Country 2021 and 2031 (%)
Figure 24. Comparative Share Analysis of It Asset Management Market for Healthcare and Life Science, by Country 2021 and 2031 (%)
Figure 25. Comparative Share Analysis of It Asset Management Market for Government and Public Sector, by Country 2021 and 2031 (%)
Figure 26. Comparative Share Analysis of It Asset Management Market for Education, by Country 2021 and 2031 (%)
Figure 27. Comparative Share Analysis of It Asset Management Market for Energy and Utility, by Country 2021 and 2031 (%)
Figure 28. Comparative Share Analysis of It Asset Management Market for Others, by Country 2021 and 2031 (%)
Figure 29. It Asset Management Market by Region, 2021 and 2031 (%)
Figure 30. U.S. It Asset Management Market, 2021-2031 ($ Million)
Figure 31. Canada It Asset Management Market, 2021-2031 ($ Million)
Figure 32. Germany It Asset Management Market, 2021-2031 ($ Million)
Figure 33. UK It Asset Management Market, 2021-2031 ($ Million)
Figure 34. France It Asset Management Market, 2021-2031 ($ Million)
Figure 35. Italy It Asset Management Market, 2021-2031 ($ Million)
Figure 36. Spain It Asset Management Market, 2021-2031 ($ Million)
Figure 37. Rest of Europe It Asset Management Market, 2021-2031 ($ Million)
Figure 38. China It Asset Management Market, 2021-2031 ($ Million)
Figure 39. Japan It Asset Management Market, 2021-2031 ($ Million)
Figure 40. India It Asset Management Market, 2021-2031 ($ Million)
Figure 41. Australia It Asset Management Market, 2021-2031 ($ Million)
Figure 42. South Korea It Asset Management Market, 2021-2031 ($ Million)
Figure 43. Rest of Asia-Pacific It Asset Management Market, 2021-2031 ($ Million)
Figure 44. Latin America It Asset Management Market, 2021-2031 ($ Million)
Figure 45. Middle East It Asset Management Market, 2021-2031 ($ Million)
Figure 46. Africa It Asset Management Market, 2021-2031 ($ Million)
Figure 47. Top Winning Strategies, by Year (2021-2022)
Figure 48. Top Winning Strategies, by Development (2021-2022)
Figure 49. Top Winning Strategies, by Company (2021-2022)
Figure 50. Product Mapping of Top 10 Players
Figure 51. Competitive Dashboard
Figure 52. Competitive Heatmap: It Asset Management Market
Figure 53. Top Player Positioning, 2021
Figure 54. IBM Corporation: Net Revenue, 2019-2021 ($ Million)
Figure 55. IBM Corporation: Research & Development Expenditure, 2019-2021 ($ Million)
Figure 56. IBM Corporation: Revenue Share by Segment, 2022 (%)
Figure 57. IBM Corporation: Revenue Share by Region, 2022 (%)
Figure 58. Microsoft Corporation: Net Revenue, 2020-2022 ($ Million)
Figure 59. Microsoft Corporation: Research & Development Expenditure, 2020-2022 ($ Million)
Figure 60. Microsoft Corporation: Revenue Share by Segment, 2022 (%)
Figure 61. Microsoft Corporation: Revenue Share by Region, 2022 (%)
Figure 62. Dell Inc.: Net Revenue, 2020-2022 ($ Million)
Figure 63. Dell Inc.: Research & Development Expenditure, 2020-2022 ($ Million)
Figure 64. Dell Inc.: Revenue Share by Segment, 2022 (%)
Figure 65. Dell Inc.: Revenue Share by Region, 2022 (%)
Figure 66. Hp Inc.: Net Revenue, 2019-2021 ($ Million)
Figure 67. Hp Inc.: Research & Development Expenditure, 2019-2021
Figure 68. Hp Inc.: Revenue Share by Segment, 2021 (%)
Figure 69. Hp Inc.: Revenue Share by Region, 2021 (%)
Figure 70. Oracle Corporation: Research & Development Expenditure, 2019-2021 ($ Million)
Figure 71. Oracle Corporation: Net Revenue, 2019-2021 ($ Million)
Figure 72. Oracle Corporation: Revenue Share by Segment, 2021 (%)
Figure 73. Oracle Corporation: Revenue Share by Region, 2021 (%)
Figure 74. Servicenow Inc.: Net Revenue, 2020-2022 ($ Million)

Executive Summary

According to the report, the it asset management market was valued at $1.3 billion in 2021, and is estimated to reach $3.5 billion by 2031, growing at a CAGR of 11.1% from 2022 to 2031.

IT asset management solution helps to manage work orders, contracts, asset life cycles, supply chains and many other capabilities to stay at the top of business. Furthermore, businesses have shifted toward digitalization and increased implementation of Industry 4.0 to cope with ongoing tough business competition, which creates the need for seamless solution and platform to meet the businesses requirements, which eventually boost the adoption of IT asset management in various sectors rapidly.

On the basis of component, the solution segment dominated the IT asset management market size in 2021 and is expected to continue this trend during the forecast period. The adoption of IT asset management provides numerous benefits to the industry such as, streamline the business process, eliminate the manual process and reduces the time and costs, further fuel the growth of the market. However, services segment highest growth market share in the upcoming year. The adoption of ITAM market enhances software implementation, maximize the value of existing installation by optimizing it, and minimize the deployment cost & risks, and others, further fuel the growth of the ITAM market for this segment.

On the basis of deployment model, the on-premise segment captured the largest market share in 2021 and is expected to continue this trend throughout the forecast period in IT asset management market analysis. This is attributed due to the numerous advantages offered by the on-premise deployment such as a high level of data security and safety. Industries prefer on-premise model owing to high data security and less data breach as compared to cloud based deployment models, which further drive the demand for on-premise deployment model within the sectors. However, cloud segment is expected to exhibit highest growth during the forecast period. Factor such as rise in the adoption of cloud-based IT asset management due to low cost and easier maintenance drives the growth of the market. In addition, it provides flexibility & scalability in order to boost business process, which propels the growth of the IT asset management market.

Region-wise, North America dominated the market share in 2021 for the IT asset management market forecast. The adoption and growth of advanced and latest technologies, including IT asset management solution, owing to favorable government policies to accelerate innovation and strengthen the infrastructure abilities, especially in developed countries such as the U.S. and Canada, which will provide lucrative opportunities for the market growth. However, Asia-Pacific is expected to exhibit highest growth during the forecast period. This is attributed to increase in penetration of advanced technology and higher adoption of cloud-based solution and services, AI, big data and IoT, are particularly fueling regional growth of IT asset management solutions market.

COVID-19 has forced billions of organizations around the world to adopt remote work policies. The transition has led to a rapid increase in demand for tools to support remote teams and workflows. While there are certainly challenges involved in going fully remote, ITAM is helping in asset management, data access, people management and inventory management.

During COVID period, priorities of many industries and the government may change with market conditions, with some companies having to change asset strategies from asset utilization to cost control. Moreover, during COVID, the increasing number of plants that have reduced production or temporarily suspended, have enough time available to arrange much-needed maintenance and inspections. Therefore, during this time, organizations can make better use of ITAM solution and Industrial IoT devices, end-to-end devices, condition monitoring, forecasting and others, to help identify and address potential problems and rectify them. Several asset owners, mainly in transportation, have experienced major revenue impacts. While others experienced logistics challenges, such as undertaking physical works while adhering to social distancing requirements.

In addition, asset owners are having to contend with reduced revenue, disrupted demand, new work practices, disrupted plans of work, and supply chain resilience. The adoption of asset management techniques is enabling asset owners to develop the right strategy in the context of these challenges. A strong IT asset management solution makes the decisions easier. In addition, a greater number of IT asset management solutions market providers are adopting various strategies to reach asset-intensive industries during the pandemic.

Key Findings of the Study

By Component, the Solution segment accounted for the largest IT asset management market share in 2021.

By Deployment Model, the on-premise segment accounted for the largest IT asset management market share in 2021.

On the basis of Enterprise Size, the large enterprise segment accounted for the largest IT asset management market share in 2021.

Depending on Industry Vertical, the IT and Telecom sector accounted for the largest IT asset management market share in 2021.

Region wise, North America generated highest revenue in 2021.

The key players that operate in the IT asset management market analysis are BMC Software Inc., Dell Inc., Flexera Software LLC, Freshworks Inc., HP Inc., IBM Corporation, IFS AB, Infor, Microsoft Corporation and Oracle Corporation. These players have adopted various strategies to increase their market penetration and strengthen their position in the IT asset management industry.

Companies Mentioned

  • Snow Software AB
  • HP Inc.
  • BMC Software Inc.
  • Flexera Software LLC
  • Oracle Corporation
  • Dell Inc.
  • IBM Corporation
  • ServiceNow Inc.
  • Aspera Technologies Inc.
  • Microsoft Corporation

Methodology

The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.

They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.

They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:

  • Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
  • Scientific and technical writings for product information and related preemptions
  • Regional government and statistical databases for macro analysis
  • Authentic news articles and other related releases for market evaluation
  • Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast

Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.

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