Global Software Asset Management (SAM) Market Size to Reach USD 13.17 Billion in 2032 | Emergen Research

Yesterday, the SAM market reached a major milestone with a total worth of $2.5 billion in 2022. What's even more impressive is the expected growth in revenue, as the latest report from Emergen Research predicts a steady Compound Annual Growth Rate (CAGR) of 18.1% throughout the forecast period. This bodes well for the future of the industry.

The reasons why revenue has dramatically increased can be attributed to numerous important factors. One factor is that businesses are becoming more obligated to manage and improve their software programs in various areas. Some areas they need to oversee are software distribution, acquisition, usage, maintenance, and proper disposal of programs. This helps companies save a lot of money, particularly when it comes to buying software.

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Additionally, the growing importance of conducting audits and guaranteeing conformity with regulations has become essential. Software Asset Management has a significant function in supporting companies in sustaining compliance with these standards. Essentially, SAM acts as a thorough business procedure, including operations such as optimizing purchases, managing maintenance, overseeing deployments, utilizing software effectively, and responsibly phasing out multiple software applications in a company.

The management of software assets, also known as SAM, is an important factor in increasing cost-effectiveness and reducing the danger of penalties and license inspections. It also helps to improve software licensing, strengthen security, and ensure that software assets are utilized efficiently.

The market has experienced an increase in revenue thanks to the improvements in Artificial Intelligence (AI). AI comes with numerous benefits that have boosted the market's potential, including better predictive maintenance, efficient allocation of resources, easier operational processes, increased safety compliance, extended lifespan of assets. As a result, many top companies have been utilizing AI technology to make their software asset management systems even better.

As an example, TIFIN, a well-known provider of AI-powered wealth management solutions, launched the TIFIN AMP platform on December 6, 2022. This platform has the goal of eliminating the barriers to distribution that exist in the asset management industry. To facilitate the introduction of AI-driven asset management software into the market, these companies have received funding from capital firms. Akros is one such company which was granted a substantial investment of USD 2.3 million by Z Venture Capital on December 9, 2022. Akros aims to disrupt the current asset management landscape by utilizing an AI-driven platform that analyzes market data for stock analysis.

It's important to recognize that there are obstacles that are preventing the market from growing. One significant hurdle is the shortage of competent workers, which is mostly caused by insufficient training programs. This could stop the market from reaching its complete potential. Moreover, financial restrictions have made it difficult for Small and Medium Enterprises (SMEs) to use software asset management services and solutions. SMEs have unique difficulties in achieving a desirable Return on Investment (RoI) with software asset management solutions because they have to manage multiple devices and a variety of software, which is more challenging than it is for larger enterprises.

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The big companies in a particular industry and how they compare to each other is known as the competitive landscape.

The market for Software Asset Management (SAM) around the world is not centralized, as there are a lot of significant and mid-sized companies that generate most of the market revenue. Among these important players, there are those who are implementing different methods, such as mergers and acquisitions, strategic agreements and contracts, and developing and testing enhanced SAM solutions. You can find the names of several significant players, who are described in the global SAM market report.

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Several notable points from the report

If you want to have a thorough understanding of the research report, please check it out at https://www.emergenresearch.com/industry-report/software-asset-management-market. Emergen Research has categorized the SAM market worldwide according to its component, deployment, organization size, industry, and region.

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