The Software Asset Management (SAM) market is a rapidly growing industry that helps organizations effectively manage their software assets. This includes identifying, tracking, and optimizing the use of software across an organization to ensure compliance with licensing agreements, reduce costs, and increase efficiency.
SAM solutions can be provided through both on-premise and cloud-based platforms, and are used by organizations of all sizes, across various industries. Major vendors in the SAM market include IBM, Micro Focus, Flexera, Snow Software, and ServiceNow. According to a report by MarketsandMarkets, the global SAM market size is expected to grow from $3.65 billion in 2020 to $6.90 billion by 2025, at a CAGR of 14.1% during the forecast period.
Shift towards cloud computing entails certain complexities; however, the long-term benefits of Software as a Service (SaaS) will outweigh deployment challenges
Cloud migration is certainly not a simple activity, and definitely not when it comes to asset management. Shifting from legacy systems and service delivery models to cloud systems poses several organizational challenges, the most notable being the impact on licensing compliance and the associated financial implications, not to mention the integration complexity of traditional and cloud service delivery models. Software vendor contracts are typically defined by stringent clauses pertaining to the on-premise or off-premise use of licenses. When cloud providers scale up the infrastructure platform to meet the growing demand from end users, it is essential to implement a robust cloud readiness strategy to handle the various complexities likely to emerge in software asset management.
Having said this, the inherent benefits of moving to a SaaS platform far outnumber the initial deployment and licensing challenges in asset management. Software asset management is currently at the threshold of cost management and license compliance and organizations should strive for cost containment over compliance in the long run. A thorough evaluation of the current IT setup will help organizations identify which systems and software to move to the cloud, thereby eliminating unnecessary deployment costs and simplifying the process of licensing compliance.
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OverviewThe Global Asset Performance Management (APM) Market is expected to reach 18,765.1 Million by 2025, growing at a CAGR of 10.7% during the forecast period (2018–2025).
In this report, Market Research Future (MRFR) includes market segmentation and market dynamics to offer a better glimpse of the market in the coming years.Applications of IT(Information Technology) and OT(Operational Technology) in the manufacturing sector is expected to drive the growth of asset performance management during the forecast period.
The convergence of IT and OT is used to monitor events, processes, and devices and adjust enterprise and industrial operations.
IoT solutions customized for asset performance management allow manufacturing firms to plan and optimize present asset requirements, predict asset failure for zero downtime through repairs and replacement of stressed assets, and ensure seamless operations.
These technological changes in the manufacturing sector are fueling the adoption and implementation of asset performance management solutions.Get a Free Sample @ https://www.marketresearchfuture.com/sample_request/8149Segmental AnalysisThe global APM market has been segmented on the basis of offering, deployment mode, vertical, and region.Based on the offering, the asset performance management market has been segmented into software type and services.
The predictive asset analytics tools enable industries to gain profits on critical assets using predictive maintenance (PdM) programs that support the early detection of equipment failures.The service segment has been segmented into professional and managed services.
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