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Published on : Sep 06, 2016

ALBANY, New York, September 06, 2016: ResearchMoz.us has announced the addition of a new report to its repository, titled “Global IT Asset Management Market 2016-2020.” The report presents a detailed analysis of the historical growth trajectory, current market scenario, and future growth opportunities of the global IT asset management market. The study also presents an outline of the trends prevailing in the global IT asset management market along with the factors driving and inhibiting the growth of the market until 2020. The market shares, strategies, and products and services offered by leading companies have also been presented in the report. 

The study states that the global IT asset management market is projected to expand at a 7.52% CAGR from 2016 to 2020. The report considers the current scenario and prospects to calculate the size of the global IT asset management market until 2020. 

IT asset management software assists in the efficient management of computer software and hardware inventories and correlating assets with financial records and contracts. It  also helps in detecting and preventing system-related risks. As a result of this, the adoption of IT asset management software is expected to significantly increase among organizations and IT institutions. The rising preference for cloud-based IT asset management software is one of the prime factors driving the adoption of ITAM software across the world. 

The report also suggests that the burgeoning trend of bring-your-own-device (BYOD) in various IT and telecom companies is likely to positively influence the adoption of ITAM software in the upcoming years. The adoption of ITAM software by large organizations to maintain and reduce the risks associated with licensing management and IT compliance is likely to drive the growth of the global IT asset management market.

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Over the next couple of years, IT asset management software is anticipated to gain popularity among small and medium enterprises as a potential solution for creating a balance between expenditure and return on investments. IT asset management software has applications in various end-use industries such as healthcare, banking, transportation, telecom and IT, energy and utilities, and manufacturing among others. However, high expenses incurred by organizations in the installation of ITAM software are anticipated to limit its deployment in small enterprises. 

According to the report, the Americas is anticipated to maintain a lead until 2020 with a projected share of above 55% in the global IT asset management market. The prime factors augmenting the growth of the ITAM market in the Americas are the existence of large organizations and enterprises, high-speed internet services, and abundance of hosted servers. 

The report also states that the due to the presence of numerous multinational vendors, the global ITAM market is highly fragmented. The key vendors operating in the global IT asset management market are CA technologies, IBM, Oracle, SolarWinds, Agiloft, Cherwell, Axios, InvGate, LabTech, Symantec, and BMC among others. 

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