IT Asset Management (ITAM) Software

IT Asset Management (ITAM) Software

Global IT Asset Management (ITAM) Software Market to Reach US$4.6 Billion by 2030

The global market for IT Asset Management (ITAM) Software estimated at US$3.0 Billion in the year 2023, is expected to reach US$4.6 Billion by 2030, growing at a CAGR of 6.7% over the analysis period 2023-2030. ITAM Software for Small and Medium Enterprises, one of the segments analyzed in the report, is expected to record a 7.0% CAGR and reach US$2.1 Billion by the end of the analysis period. Growth in the ITAM Software for Large Enterprises segment is estimated at 6.4% CAGR over the analysis period.

The U.S. Market is Estimated at US$809.7 Million While China is Forecast to Grow at 6.2% CAGR

The IT Asset Management (ITAM) Software market in the U.S. is estimated at US$809.7 Million in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$719.9 Million by the year 2030 trailing a CAGR of 6.2% over the analysis period 2023-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 6.2% and 5.4% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 5.5% CAGR.

Global IT Asset Management (ITAM) Software Market - Key Trends & Drivers Summarized

Why Is ITAM Software Essential in Modern Business Operations?

IT Asset Management (ITAM) software has become indispensable for businesses aiming to manage their technology assets efficiently, ensuring compliance, cost optimization, and operational efficiency. ITAM software provides companies with the tools to track, organize, and optimize their hardware, software, and digital assets, from acquisition through disposal. As organizations grow and adopt more complex IT infrastructures, effective asset management is crucial to minimizing expenses, reducing cybersecurity risks, and ensuring compliance with licensing agreements. ITAM software streamlines this process, providing centralized oversight and valuable insights into asset performance and utilization.

How Do Compliance and Security Concerns Drive ITAM Adoption?

As regulatory requirements and cybersecurity threats intensify, ITAM software is increasingly essential for managing compliance and security risks. Tracking software licenses and usage is critical for avoiding costly non-compliance penalties, while continuous monitoring of hardware assets ensures up-to-date security and minimizes vulnerabilities. ITAM software enables companies to adhere to data protection regulations by providing clear visibility into the status and location of IT assets, facilitating the secure disposal of outdated devices. As regulatory pressures grow, especially in sectors such as finance and healthcare, ITAM software is becoming a cornerstone of compliant and secure IT operations.

What Role Do Emerging Technologies Play in ITAM Evolution?

Emerging technologies like artificial intelligence (AI), automation, and cloud computing are transforming ITAM software, making asset management faster, more accurate, and more adaptable. AI-driven analytics provide predictive insights, helping companies identify when assets need maintenance or replacement, thus minimizing downtime. Automation enables faster tracking and updates, reducing the need for manual data entry and minimizing errors. Cloud-based ITAM solutions offer scalability, allowing businesses to manage assets across distributed networks and remote locations. These technological advancements make ITAM software more robust and versatile, catering to the dynamic needs of modern enterprises.

The Growth in the ITAM Software Market Is Driven by Several Factors

The growth in the IT Asset Management (ITAM) software market is driven by several factors, including the increasing complexity of IT infrastructures, regulatory compliance requirements, and advancements in AI and automation. As businesses expand their technology portfolios, the need for efficient asset management solutions grows, driving demand for ITAM software. Regulatory pressures around data protection and software licensing are also influencing adoption, as companies seek to avoid penalties and maintain secure IT environments. Additionally, technological innovations such as AI analytics and cloud integration are enhancing ITAM capabilities, supporting market growth as companies strive for optimized and compliant asset management.

SCOPE OF STUDY:

The report analyzes the IT Asset Management (ITAM) Software market in terms of US$ Thousand by the following Deployment; End-Use; Organization Size, and Geographic Regions/Countries:

Segments:
Deployment (Cloud, On-premise, Hybrid); End-Use (Banking and Finance, Retail, IT & telecom, Automotive & Transportation, Other End-Uses); Organization Size (Small and Medium enterprise, Large enterprise)

Geographic Regions/Countries:
World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; and Rest of Europe); Asia-Pacific; Rest of World.

Select Competitors (Total 104 Featured) -

• Asset Panda
• BMC Software, Inc.
• CA Technologies, Inc.
• CGI Group, Inc.
• Dell EMC
• Dude Solutions, Inc.
• eMaint Enterprises, LLC
• Freshworks Inc.
• GRAGA Software Solutions Pty Ltd.
• Hewlett-Packard Development Company LP
• IBM Corporation
• IFS AB
• Infor
• Ivanti
• Microsoft Corporation
• Oracle Corporation
• Samanage North America
• ServiceNow, Inc.
• Spiceworks
• Summit Software Pty Ltd.
• Symantec Corporation
• SysAid Technologies Ltd.
• Wasp Barcode Technologies
• xAssets

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