Global License Management Market (2020 to 2025) - Growth, Trends, and Forecasts - ResearchAndMarkets.com
A bank's IT estate often accounts for around 50% of the total enterprise asset base and sometimes as much as 80% of capital expenditure.
The "License Management Market - Growth, Trends, and Forecasts (2020 - 2025)" report has been added to ResearchAndMarkets.com's offering.
The license management market was valued at USD 737 million in 2019 and is expected to reach USD 1206.39 million by 2025, at a CAGR of 8.56% over the forecast period 2020-2025.
Companies Mentioned
- Aspera Technologies Inc.
- Cherwell Software LLC
- DXC Technology Co
- Flexera Software LLC
- Reprise Software Inc.
- Snow Software AB
- Oracle Corporation
- IBM Corporation
- Gemalto Inc.
- ServiceNow Inc.
Key Market Trends
BFSI Sector Will Experience Significant Growth and Drive the Market
The banking, financial services, and insurance companies (BFSI) demand an IT infrastructure that is available 24X7x365 days and meets rigorous internal and external service level requirements. As the segment majorly deals with end customers, who contribute to companies' revenue, an enterprise needs to ensure that the end-user applications and business services are in compliance with the guidelines provided by the financial institutions and thus offer better security to their customers.
- A bank's IT estate often accounts for around 50% of the total enterprise asset base and sometimes as much as 80% of capital expenditure. The license management tools provide real cost savings, by identifying unused software and hardware assets, more-effective lifecycle management, and better IT operations processing through better documentation.
- Additionally, the BFSI sector faces major cyberattacks, and according to the report, financial firms are 300 times more likely than other institutions to experience cyberattacks and thus require a hypervigilant security software that is continuously being updated to counterfeit any security breach. For instance, in 2019, Mastercard reported over 460,000 intrusion attempts each day, which has increased by 70% compared to the year prior.
- Further, during the COVID-19 coronavirus pandemic, most of the users are relying on digital banking, and there is a sudden increase in cyberattacks targeting the financial services sector.
North America is Expected to Experience Significant Growth
Technological changes such as the rapid increase in cloud computing and the virtualization of software are at the root cause of an increase in software licensing disputes. For instance, SAP has settled the software licensing dispute with Anheuser-Busch, the U.S. subsidiary of beverage conglomerate AB InBev as it has breached its software license agreement by directly and indirectly accessing SAP systems and data without appropriate licenses, and of underpaying license fees due. This has fueled the quick adoption of the software licensing solutions which protects organizations from litigation costs associated with software misuse.
- License agreements that were user-based, seat-based, or enterprise based do not fit well with the cloud or virtualization model. Due to which now the software vendors are changing their licensing terms to make license terms more onerous for users. For instance, in 2018, Oracle has changed its license so that Oracle JDK is free to individuals for use, development, testing, prototyping, and demonstrations, but requires a commercial license to avoid the GPLv2+CE license.
- Moreover, an increasing number of licensing audits conducted by software vendors and is expected that the frequency will grow in the studied period. For instance, Oracle will conduct licensing audits in the cloud more often than the current number.
Key Topics Covered:
1 INTRODUCTION
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Increasing Demand to Optimize Software Investments
4.2.2 Growing Requirement for Audit-Readiness Among Organisation
4.3 Market Restraints
4.3.1 Uncertain Regulatory Standards and Frameworks
4.4 Market Opportunities
4.5 Industry Attractiveness - Porter's Five Forces Analysis
4.6 Impact of COVID-19
5 MARKET SEGMENTATION
5.1 By Component
5.1.1 Software
5.1.2 Services
5.2 By Deployment
5.2.1 On-Premise
5.2.2 Cloud
5.3 By Application (Qualitative Trend Analysis)
5.3.1 Audit Services
5.3.2 Advisory Services
5.3.3 Compliance Management
5.3.4 License Entitlement and Optimization
5.3.5 Operations and Analytics
5.3.6 Others
5.4 By End-User
5.4.1 BFSI
5.4.2 Healthcare and Life Sciences
5.4.3 IT & Telecommunication
5.4.4 Media and Entertainment
5.4.5 Other End-user Vertical
5.5 By Geography
5.5.1 North America
5.5.2 Europe
5.5.3 Asia-Pacific
5.5.4 Latin America
5.5.5 Middle East & Africa
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles*
6.1.1 Aspera Technologies Inc.
6.1.2 Cherwell Software LLC
6.1.3 DXC Technology Co
6.1.4 Flexera Software LLC
6.1.5 Reprise Software Inc.
6.1.6 Snow Software AB
6.1.7 Oracle Corporation
6.1.8 IBM Corporation
6.1.9 Gemalto Inc.
6.1.10 ServiceNow Inc.
7 FUTURE OUTLOOK OF THE MARKET
8 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/n82icd
View source version on businesswire.com: https://www.businesswire.com/news/home/20201230005093/en/