Dublin, Jan. 23, 2024 (GLOBE NEWSWIRE) -- The "India License Management Market Competition Forecast & Opportunities, 2029" report has been added to ResearchAndMarkets.com's offering.
The India License Management Market is experiencing a significant surge due to the increasing requirement for optimization of software investments, stringent government regulations aimed at curbing software piracy, and the burgeoning need for audit-readiness among organizations across multiple sectors.
The market is further bolstered by the growing adoption of license management systems in the banking, financial services, and insurance (BFSI) sector. License management solutions are critical for organizations looking to maximize their software usage while navigating the complex landscape of compliance with software licenses.
As companies continue to digitize their operations and harness the power of new technologies such as IoT, cloud computing, and AI, the management of software licenses becomes even more pivotal. The market in India is witnessing an upward trajectory as businesses across various industries, including IT, telecom, and manufacturing, seek to mitigate risks associated with unlicensed software and potential cybersecurity threats.
Banking, Financial Services, and Insurance Sector Driving Market Growth
The BFSI sector, in particular, stands out as a major contributor, with a high rate of license management software utilization due to the critical nature of IT infrastructure and service level requirements in this industry. License management provides an additional layer of security, ensuring that the software used meets stringent regulatory standards and reduces vulnerability to cyberattacks.
Optimizing Software Investments for Strategic Cost Efficiency
Businesses are increasingly deploying license management software as a strategy to optimize software spending. This approach allows for efficient organization of software licenses, prevention of non-compliance fines, and reduction of operational costs, thereby promoting the sustainability of profit margins.
Audit-readiness: A Key Concern for Organizations
As software audits become more frequent, the demand for license management solutions that provide audit readiness is intensifying. Organizations are utilizing these solutions to compare the number of deployed software instances with the appropriate licenses, ensuring compliance and avoiding potential financial penalties.
Government Initiatives Catalyzing Market Expansion
Government-led initiatives and regulations targeting the elimination of pirated software and fostering cybersecurity have significantly contributed to the growth of the license management market in India. The government's efforts in simplifying license management activities have played a transformative role, encouraging the adoption of secure and advanced license management systems.
Multifaceted Market Outlook and Regional Analysis
Segmentation of the India License Management Market points to a diverse ecosystem comprising software and services across cloud and on-premises deployment options. Application areas range from audit and advisory services to compliance management, and the multifaceted demands of different end-users are shaping market dynamics.
With a comprehensive regional analysis covering East, West, North, and South India, the recent report offers an in-depth examination of the competitive landscape, with major market players contributing to the industry's acceleration. The insights provided reflect the market’s significant potential and trajectory towards growth in the forecast period.
As the market gears up for continued expansion, enterprises in India are poised to leverage license management solutions more strategically to drive operational excellence and foster compliance. The industry stands at the cusp of digital transformation, setting a precedent for licensing management's pivotal role in a seamlessly interconnected business landscape.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 82 |
| Forecast Period | 2023 - 2029 |
| Estimated Market Value (USD) in 2023 | $108 Million |
| Forecasted Market Value (USD) by 2029 | $219.65 Million |
| Compound Annual Growth Rate | 12.5% |
| Regions Covered | India |
Report Scope:
In this report, the India License Management market has been segmented into the following categories:
India License Management Market, By Component:
- Software
- Services
- Professional Services
- Deployment and Integration
- Consulting
- Support and Maintenance
- Managed Services
India License Management Market, By Deployment Type:
- Cloud
- On-Premises
India License Management Market, By Application Area:
- Audit Services
- Advisory Services
- Compliance Management
- License Entitlement & Optimization
- Operations & Analytics
- Software Inventory Management
- Usage Monitoring
- Others
India License Management Market, By End-User:
- Information Technology
- BFSI
- Telecom
- Retail & Consumer Goods
- Healthcare
- Media & Entertainment
- Manufacturing
- Others
India License Management Market, By Region:
- East India
- West India
- North India
- South India
Companies Profiled:
- IBM-Aspera Technologies
- Oracle India Corporation
- Cherwell Software LLC
- Flexera Software LLC
- DXC Technology Corporation
- Quest Software Private Limited
- Snow Software AB
- Gemalto Digital Security Private Limited
- Servicenow
- USU Software
For more information about this report visit https://www.researchandmarkets.com/r/nln98v
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