The global software Services management market was valued at USD 2.00 billion in 2021, and it is projected to experience a compound annual growth rate (CAGR) of 18.2% during the forecast period. This information is based on a report by Reports and Data, a reputable market research firm.

Software Services Management (SAM) plays a crucial role in ensuring compliance with software contracts between publishers and users. By integrating people, processes, and technology, SAM allows for the systematic management of IT Servicess. This standardization helps organizations streamline their IT Servicess, efficiently deploy Servicess, and plan IT expenses more effectively.

SAM involves the use of IT Services management tools that collect and centralize information about Servicess in one place. This consolidated data provides valuable insights into how Servicess are utilized across the organization and their current life cycle. The demand for software Services management Services is increasing due to these benefits.

One of the primary drivers for the growth of the software Services management market is the growing need for businesses to achieve audit management and meet regulatory compliance requirements. Compliance with software contracts and licensing agreements is critical for organizations to avoid legal issues and financial penalties. Therefore, the adoption of software Services management Services is expected to rise as businesses seek to ensure compliance and mitigate risks.

Additionally, organizations are increasingly focused on maximizing their investments at every phase of the Services lifecycle. By implementing an effective IT Services management strategy, businesses can optimize their Services utilization, identify areas of cost savings, and minimize wasteful spending. This approach enables them to acquire more value from their investments, efficiently manage Servicess, and properly dispose of obsolete equipment.

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Software Services management programs offer significant benefits to companies by helping them reduce spending through the identification and reuse of unused software licenses. Rather than investing in new licenses for unused software, organizations can reclaim and redistribute those licenses to the appropriate users. This leads to cost savings and a more efficient allocation of resources.

In addition to cost reduction, modern companies recognize the need for software Services management Services because they provide comprehensive tracking of software and hardware deployments, usage, expenses, and licensing. By having a centralized system to monitor and manage their software Servicess, organizations gain better visibility into their IT environment. This understanding allows them to make informed decisions and effectively plan for future software portfolio requirements.

Software Services management programs also contribute to optimizing return on investment (ROI) and reducing costs. By eliminating the need for unnecessary software purchases and ensuring compliance with licensing agreements, companies can maximize the value they derive from their software investments. These programs help identify opportunities for cost savings, such as identifying unused licenses or identifying areas where licenses can be consolidated or upgraded to more cost-effective options.

The benefits outlined above drive the adoption of software Services management programs, leading to market revenue growth. As organizations increasingly recognize the value of efficient software Services management, the demand for these Services is expected to rise. By implementing software Services management programs, companies can enhance their financial performance, improve operational efficiency, and strategically plan for their future software needs.

Component Type Outlook (Revenue, USD Billion; 2019-2030)

• Services
• Services

Deployment Outlook (Revenue, USD Billion; 2019-2030)

• On-premises
• Cloud

Organization Size Outlook (Revenue, USD Billion; 2019-2030)

• Small and Medium Enterprises (SMEs)
• Large Enterprises

End-Use Outlook (Revenue, USD Billion; 2019-2030)

• Manufacturing
• IT & Telecom
• BFSI
• Retail & Consumer Goods
• Others

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Key Regional Markets Covered in the Report:

·       North America (U.S., Canada, Mexico)

·       Europe (U.K., Italy, Germany, Spain, France, BENELUX, Rest of Europe)

·       Asia Pacific (India, Japan, China, South Korea, Australia, Rest of Asia Pacific)

·       Latin America (Chile, Brazil, Argentina, Rest of Latin America)

·       The Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)

Top Companies Operating in the Global Software Services Management Market:

ServiceNow, Microsoft Corporation, Danaher, IBM, SONATA SOFTWARE, Lansweeper, InvGate, License Dashboard, Belarc, Inc., and Xensam AB.

Some Key Highlights From the Report

·       Services segment is expected to register a rapid revenue growth rate during the forecast period owing to the increasing need for analyzing, tracking, and maintaining Services requirements in an organization. These Services enhance software efficiency, maintain software usage records, and identify licensed software by helping organizations track their software usage. Organizations increasingly adopt Services to enable discovery, metering, and optimizations, enabling compliance and making the right decisions. In addition, manufacturing facilities and healthcare institutions deploy Services to monitor equipment maintenance and ensure proper equipment operation. These factors are driving revenue growth of the segment.

·       The cloud segment is expected to lead in terms of revenue contribution to the global market over the forecast period owing to the increasing need for minimizing enterprise costs related to IT infrastructure. Cloud solution enables enterprises to focus on core business competencies providing security and data protection. According to a survey of 2020, 82% of enterprises use hybrid clouds to store sensitive data in a private cloud while running enterprise applications on a public cloud.

·       The Small and Medium-sized Enterprises (SMEs) segment is expected to account for the largest revenue share over the forecast period. SMEs always face difficulties implementing Services management properly. Consequently, Services management software enables SMEs to remain competitive through transformation, while also adjusting to changes in an organized manner, increasing productivity. These factors are expected to drive revenue growth of the segment during the forecast period.

·       Manufacturing segment is expected to register a steady revenue growth rate during the forecast period owing to the increasing need for extending lifespan, improving productivity, and streamlining maintenance processes. The industry is labor-intensive and susceptible to expensive errors. The Services reduce cost and are required to increase industry share. Manufacturing companies use Services management software to manage entire lifecycle of their plant Servicess, such as equipment, parts, production lines, and buildings.

·       Market in North America is expected to account for the largest revenue share in global market during the forecast period. Rapid growth rate of the market is attributed to the increasing presence of major market players such as ServiceNow, Microsoft Corporation, Danaher, and IBM, among others which is expected to drive market revenue growth in the region. Growing numbers of corporate companies are utilizing software Services management to optimize value through active control and automation of procurement. According to data, the U.S. had 6.1 million registered corporate companies in 2019.

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