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The global IT asset management software market at a CAGR of almost 7% during the forecast period

NEW YORK, Jan. 8, 2020 /PRNewswire/ --Global IT Asset Management Software Market: About this market
This IT asset management software market analysis considers sales from both cloud-based and on-premise deployment. Our study also finds the sales of IT asset management software in APAC, Europe, MEA, North America, and South America. In 2019, the cloud-based segment had a significant market share, and this trend is expected to continue over the forecast period. Factors such as growing end-user industries such as BFSI, aerospace and defense, and healthcare will play a significant role in the cloud-based segment to maintain its market position. Also, our global IT asset management software market report looks at factors such as increasing need to comply with asset management standards, rapid adoption of asset management software and growing importance of asset tracking, and expansion of IT infrastructure. However, increasing availability of open-source asset management solutions, integration and implementation issues, and asset delivery may hamper the growth of the IT asset management software industry over the forecast period. Read the full report: https://www.reportlinker.com/p05837128/?utm_source=PRNGlobal IT Asset Management Software Market: Overview
Rising adoption of asset management software and growing importance of asset tracking
IT asset management and tracking systems are designed to reduce the labor required for the management of computer software and hardware. It also offers cost reduction through improved purchasing and better control of the overall life cycle of IT assets. Furthermore, IT asset management systems minimize the risks associated with regulatory compliance, software licensing, and security vulnerabilities. Thus, the rising adoption of asset management software and the growing importance of asset tracking will lead to the expansion of the global IT asset management software market at a CAGR of almost 7% during the forecast period.
Growing adoption of cloud-based asset management software services
Organizations across industries, including BFSI, telecom, healthcare, and other sectors are focusing on reducing their overall CAPEX by deploying cloud computing solutions. SMEs are leveraging cloud-based solutions for increasing their scalability of hardware and resources offered by cloud solution providers. This has further created a demand for cloud-based asset management software. This software allows the companies to analyze the data on assets and inventory in real-time with a centralized view. Also, this software offers a variety of benefits to organizations such as more accurate tracking, efficient operations, financial accountability, and easy reporting. This development is expected to have a positive impact on the overall market growth.
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