IT Asset Management Market 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): Global Opportunity Analysis and Industry Forecast, 2022-2031
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.
Senario Analysis & Growth Trend Comparision
Strategic Recommedations
Additional company profiles with specific to client's interest
Additional country or region analysis- market size and forecast
Historic market data
Key player details (including location, contact details, supplier/vendor network etc. in excel format)
SWOT Analysis
Key Market SegmentsBy ComponentSolution
Service
By Deployment ModelOn Premise
Cloud
By Enterprise SizeLarge Enterprises
SMEs
By Industry VerticalIT and Telecom
Manufacturing
BFSI
Healthcare and Life Science
Government and Public Sector
Education
Energy and Utility
Others
By RegionNorth 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 PlayersSnow 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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