Asset management software is a dedicated application used to track and record an asset throughout its life cycle, starting from procurement to disposal. The asset management software is used for management of both hardware and software assets. Asset management software is also called asset management tool. This includes a record of asset from its procurement to its disposal. In other words, it is a set of processes that enables a company to understand information regarding asset usage, location, and performance to take proper decisions at every phase of lifecycle. With ITAM software, an organization can manage its IT inventory efficiently and effectively at affordable cost and with enhanced productivity it provides various features such as vendor audit and policy compliance, optimization of costs for licensing, analyzing vendor performance, streamlining of procurement processes, and optimization of supplier portfolio. Asset management software offers various advantages such as maximum utilization and value of assets, service and asset management, proactive licensing compliance, etc.
Increasing need for centralization and automation in IT infrastructure to reduce the operation and IT assets cost is expected to drive the global IT asset management (ITAM) software market in the forecast period. Implementation of automation to a centralized IT environment allows constant monitoring of activities. Moreover, organization-wide centralization ITAM facilitates inventory visibility across the organization and helps in budgetary planning. Asset inventory management enables an organization to record and track when equipment is procured, to what extent it has been utilized and whether there is a lease lapsing on the asset. Moreover, it is the same case with software where it is necessary to stay up-to-date regarding the latest software and OS. It also provides information enabling advance planning for future asset requirements thereby capitalizing on existing asset utilization and minimizing unnecessary IT expenditures. It also allows managers to isolate any pertaining vulnerabilities and prevent major issues thereby ensuring compliance corporate security policies. Thus increasing
This report segments the global IT asset management (ITAM) software market on the basis of Company Size, Deployment, End-use Sector and region. On the basis of Enterprise Size, global IT asset management (ITAM) software market is segmented into SME, Large Enterprise. On the basis of Deployment, the global IT asset management (ITAM) software market is segmented into On Premise, Cloud and Hybrid. On the basis of End-use Sector, the global IT asset management (ITAM) software market is segmented into BFSI, Telecom and IT, Healthcare, Transportation, Government, Energy and Utilities and Manufacturing. On the basis of region, global IT asset management (ITAM) software market is segmented into North America, Latin America, Europe, Asia pacific, Middle East and Africa.
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