Dublin, Nov. 15, 2023 (GLOBE NEWSWIRE) -- The "United States License Management Market, Competition, Forecast & Opportunities, 2018-2028" report has been added to ResearchAndMarkets.com's offering.
The projected market size for the United States license management market was valued at USD 166.42 in 2022, and is expected to register a compound annual growth rate (CAGR) of 12.68% during the forecast period.
The United States license management market is a multifaceted and rapidly evolving sector that plays a pivotal role in assisting organizations in efficiently managing their software licenses and compliance obligations. As the technology landscape continues to advance, businesses of all sizes face increasing complexities in navigating software licensing models, from traditional on-premises software to the emerging cloud-based solutions.
This evolving software landscape has generated a substantial demand for innovative license management solutions that can streamline the process of monitoring, optimizing, and controlling software licenses, making the United States a hotbed for innovation and investment in this field.
One of the primary driving forces behind the growth of the license management market in the United States is the growing awareness among enterprises regarding the critical importance of software license compliance. Non-compliance with software licenses can lead to severe financial penalties, legal ramifications, and damage to a company's reputation.
Consequently, organizations are increasingly recognizing the need for robust license management systems and strategies to ensure they remain in compliance with software vendors' terms and conditions. The fear of audits and the potential consequences of non-compliance have spurred a surge in demand for license management solutions that can provide real-time insights into software usage, help organizations track licenses across their IT infrastructure, and enable them to proactively address compliance issues.
The United States license management market encompasses a broad spectrum of solutions and services provided by software vendors, consulting firms, and Managed Service Providers (MSPs). These offerings include Software Asset Management (SAM) tools, License Optimization solutions, Compliance Management services, and more. SAM tools are instrumental in discovering and inventorying software assets, tracking usage patterns, and helping organizations make data-driven decisions about their licensing needs.
License Optimization solutions focus on reducing software spending by optimizing license allocations and ensuring organizations only pay for what they use, thus providing significant cost savings. Compliance Management services assist companies in navigating the complex world of software licensing agreements, preparing for audits, and ensuring that they remain in compliance with legal requirements.
Several factors are contributing to the continued growth of the United States license management market. Firstly, the ever-expanding software ecosystem, comprising both traditional on-premises software and cloud-based applications, necessitates advanced license management solutions to avoid overspending and minimize compliance risks.
Secondly, the shift toward subscription-based software models and Software as a Service (SaaS) platforms means that organizations need to efficiently manage recurring licensing costs to ensure optimal utilization of resources. Moreover, cybersecurity concerns are a significant driver for the adoption of license management solutions.
In an era of increasing cyber threats, safeguarding software assets becomes paramount. License management tools play a critical role in ensuring that only authorized users have access to sensitive applications, helping organizations mitigate the risk of unauthorized access and data breaches.
In conclusion, the United States license management market is experiencing significant growth, driven by factors such as increased awareness of software license compliance, the expanding software ecosystem, the need for cost optimization in a digital business environment, and cybersecurity concerns.
As organizations continue to invest in technology to enhance their operations and remain competitive, the demand for innovative license management solutions and services is expected to persist. Companies that can effectively address the complexities of software licensing while ensuring compliance will be well-positioned to thrive in this dynamic and evolving market.
The United States' role as a global technology hub ensures that it will remain at the forefront of developments in the license management field for the foreseeable future.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 72 |
| Forecast Period | 2022 - 2028 |
| Estimated Market Value (USD) in 2022 | $166.42 Million |
| Forecasted Market Value (USD) by 2028 | $357.05 Million |
| Compound Annual Growth Rate | 12.6% |
| Regions Covered | United States |
Competitive Landscape
Company Profiles: Detailed analysis of the major companies present in the United States License Management Market.
- Flexera Software LLC
- Snow Software, Inc.
- IBM Corporation
- OpenText Corporation
- Oracle Corporation
- SAP SE
- Microsoft Corporation
- Aspera Technologies
- BMC Software, Inc.
- Micro Focus International Plc.
Report Scope:
United States License Management Market, By Component Type:
- Solution
- Service
United States License Management Market, By Application Area:
- Audit Services
- Advisory Services
- Compliance Management
- Operation& Analytics
- Usage Monitoring
- Other
United States License Management Market, By Deployment Type:
- Cloud
- On-Premises
United States License Management Market, By Organization Size:
- SME's
- Large Enterprises
United States License Management Market, By End User:
- Information Technology
- BFSI
- Manufacturing
- Healthcare
- Media & Entertainment
- Retail & Consumer Goods
- Other
United States License Management Market, By Region:
- Northeast United States
- Southwest United States
- West United States
- Southeast United States
- Midwest United States
For more information about this report visit https://www.researchandmarkets.com/r/i25gv4
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