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License Management Market Future Demand, Business Strategies, Industry Growth, Regional Outlook, Challenges and Forecast by 2030

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License Management Market Future Demand, Business Strategies, Industry Growth, Regional Outlook, Challenges and Forecast by 2030

July 22
22:11 2022
License Management Market Future Demand, Business Strategies, Industry Growth, Regional Outlook, Challenges and Forecast by 2030
Emergen Research | License Management Market
Increasing features of software license management that aid end-use industries in optimizing their business operations is a key factor driving license management market revenue growth

The global license management market size reached USD 1,019.0 Million in 2021 and is expected to register a revenue CAGR of 11.5% during the forecast period, according to a latest analysis by Emergen Research. Companies are focusing on lowering their operational costs as a result of high volatility in raw material prices and lower profitability. As a result, they are looking for license management software to reduce costs, optimize software usage, and avoid any loss due to license non-compliance.

In addition, license management enables companies to manage all of their contracts, agreements, license entitlements, and software inventory from a single location. The growing demand for license management can also be attributed to its numerous benefits. For instance, it assists companies in efficiently organizing and storing software agreements in a secure location. As a result, companies can protect themselves against unexpected license fees and penalties. License management has also enabled companies to reduce software procurement costs by avoiding penalties for noncompliance, lowering renewal fees, and offering significant discounts.  

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Another important factor driving revenue growth of the market is the rapid adoption of cloud-based solutions. Companies are considering cloud computing as an essential component of their information technology strategy in order to remain competitive in the global market. Cloud computing technology provides businesses with benefits such as low-cost, scalable, and flexible solutions. In addition, advances in cloud computing have enabled businesses to capitalize on business opportunities in cloud hosting. It has created opportunities for the license management hosting team to capitalize on the commercial opportunities of the cloud hosting business.

Key Highlights From the Report

The cloud segment accounted for a significant revenue share in 2021. The rapid adoption of technologies such as big data, Machine Learning (ML), and others in various industries is a major factor driving the revenue growth of the segment. These technologies are used to monitor, analyze, and visualize unprocessed data. In addition, integrating these technologies with cloud-based solutions significantly assists companies in improving their visualization capabilities as well as making complex data more accessible and usable. Cloud-based software has also empowered data usage and has reduced data storage complications. This has significantly boosted business productivity, improving decision-making processes, and lowering operational costs.

The audit services segment accounted for a significant revenue share in 2021. Increasing awareness regarding various benefits of audit management software is a major factor driving revenue growth of the market in the segment. For instance, auditing software enables companies to streamline their audit processes while also complying with regulations or internal policies.

In addition, this type of software aids in the definition, implementation, and monitoring of auditing procedures for a variety of purposes, including quality management, health, and environmental protection. The integration of emerging technologies such as Artificial Intelligence (AI) and others with audit management software, which aids in the generation of high-quality reports and maintains accuracy during auditing, can also be attributed to the increased demand for license management in audit services.

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The report projects the market is anticipated to grow at a significant rate owing to rapid advancements and technological developments in the sector. The report offers strategic recommendations to businesses and investors to capitalize on the lucrative growth opportunities. The report further provides a comprehensive analysis of the competitive landscape and provides complete coverage with regard to company profiles, product portfolio, revenue generation, financial standing, and market position.

It also covers mergers and acquisitions, joint ventures, product launches, brand promotions, collaborations, agreements, and partnerships, among others. It also offers insights into the manufacturing processes, revenue estimations, R&D advancements, and industrial penetration.

Emergen Research has segmented the global license management market on the basis of deployment mode, application, industry, and region:

Deployment Mode Outlook (Revenue, USD Million; 2019-2030)

On-Premises

Cloud

Application Area Outlook (Revenue, USD Million; 2019-2030)

Audit Services

Advisory Services

Compliance Management

Operation & Analytics

Software Inventory Management

Others

Industry Outlook (Revenue, USD Million; 2019-2030)

Information Technology

Banking & Financial Services

Healthcare

Media & Entertainment

Others

Competitive Terrain:

The Global License Management Market is highly consolidated due to the presence of a large number of companies across this industry. The report discusses the current market standing of these companies, their past performances, demand and supply graph, production and consumption patterns, sales network, distribution channels, and growth opportunities in the market at length. The report scrutinizes the strategic approach of key market players towards expanding their product offerings and fortifying their market foothold.

Some major companies in the global market report include Oracle Corporation, DXC Technology Company, IBM Corporation, Ivanti, Flexera Software LLC, Thales Cloud Security, ServiceNow, Inc., Snow Software, Inc., Labs64 Netlicensing, Reprise Software, TeamEDA Inc., and Persistent Security, LLC 

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The report also offers regional level analysis and market estimation for the regions: North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.

Regional Outlook of License Management Market:

North America

U.S.

Canada

Mexico

Europe

Germany

U.K.

Italy

France

BENELUX

Rest of Europe

Asia Pacific

China

India

Japan

South Korea

Rest of APAC

Latin America

Brazil

Rest of LATAM

Middle East & Africa

Saudi Arabia

U.A.E.

South Africa

Rest of MEA

Key point summary of the report:

The report offers a comprehensive overview of the market size, share, and growth rate in the forecast duration.

It provides details about current scenario, historical data, giving an accurate market forecast for the coming years.

The study categorizes the market on the basis of product types, applications, end users, market value and volume, business verticals, and 5 major regions.

It also offers regional market analysis and forecast for prominent geographies in the sector viz., North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.

Industry supply chain, sourcing strategy, upstream feedstock, and downstream demand analysis has also been undertaken in the research report.

The study offers a comprehensive understanding of the demand and supply dynamics, including production and consumption rates, and mapping of the overall market.

The report employs different analytical tools including, SWOT analysis, Porter’s five forces analysis, and pricing analysis, to give precise market information.

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Thank you for reading the research report. To get more information about the customized report and customization plan, kindly connect to us and we will provide you with the well-suited customized report.

About Us:

At Emergen Research, we believe in advancing with technology. We are growing market research and strategy consulting company with an exhaustive knowledge base of cutting-edge and potentially market-disrupting technologies that are predicted to become more prevalent in the coming decade.

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