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By Technology;
On-Premises, Cloud-Based and HybridBy End User;
Small Enterprises, Medium Enterprises and Large EnterprisesBy Application;
IT & Telecom, Healthcare, Manufacturing, Retail, Banking & Financial Services, Government and EducationBy Functionality;
Inventory Management, License Management, Compliance Management, Lease Management and Cost ManagementBy Geography;
North America, Europe, Asia Pacific, Middle East & Africa and Latin America - Report Timeline (2021 - 2031)IT Asset Management Software Market Overview
IT Asset Management Software Market (USD Million)
IT Asset Management Software Market was valued at USD 652,615.54 million in the year 2024. The size of this market is expected to increase to USD 3,364,239.70 million by the year 2031, while growing at a Compounded Annual Growth Rate (CAGR) of 26.4%.
IT Asset Management Software Market
*Market size in USD million
CAGR 26.4 %
| Study Period | 2025 - 2031 |
|---|---|
| Base Year | 2024 |
| CAGR (%) | 26.4 % |
| Market Size (2024) | USD 652,615.54 Million |
| Market Size (2031) | USD 3,364,239.70 Million |
| Market Concentration | Low |
| Report Pages | 361 |
Major Players
- Freshworks Inc.
- BMC Software
- SysAid Technologies Ltd
- ServiceNow, Inc
- Asset Panda Llc
- Samanage Ltd
- Microsoft Corporation
- Flexera Software LLC
- IBM Corporation
- HP Inc
Market Concentration
Consolidated - Market dominated by 1 - 5 major players
IT Asset Management Software Market
Fragmented - Highly competitive market without dominant players
The IT Asset Management Software Market is evolving quickly as organizations seek real-time visibility into their IT environments. More than 60% of companies are now using automated discovery tools to identify, track, and manage their assets. This trend reflects a broader move toward centralized systems that reduce redundancy and unauthorized access.
Compliance Pressures Accelerate Software Uptake
Compliance is emerging as a primary driver, with nearly 55% of IT departments implementing asset management solutions for license validation and audit preparedness. The software not only supports regulatory alignment but also helps businesses optimize software usage and reduce unnecessary expenditure.
ITSM Integration Elevates Operational Control
More than 48% of businesses are integrating ITAM tools with IT Service Management platforms to streamline workflows. This synergy enables more efficient incident resolution and better resource allocation, enhancing overall IT performance while ensuring seamless asset lifecycle tracking.
Security Enhancements and Risk Oversight
More than 50% of firms now rely on ITAM to bolster security posture and mitigate operational risks. By enabling real-time asset monitoring and software usage tracking, ITAM tools help in detecting vulnerabilities early, reducing exposure to threats and improving IT governance.
IT Asset Management Software Market Key Takeaways
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The IT asset management software market is expanding rapidly as enterprises prioritize cost optimization, compliance and visibility across hybrid IT environments.
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Growing adoption of cloud-based ITAM solutions is enabling organizations to manage distributed assets efficiently and support remote workforce operations.
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Integration of AI and machine learning in asset management tools is enhancing predictive analytics, lifecycle forecastingand automated asset tracking.
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Rising emphasis on software license management and audit readiness is driving demand among enterprises seeking to minimize legal and financial risks.
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Increasing focus on cybersecurity and data governance is prompting ITAM vendors to incorporate advanced monitoring and compliance features.
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The market is witnessing consolidation through strategic mergers and partnerships aimed at expanding product portfolios and global reach.
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Emerging trends such as IoT device management and integration with IT service management (ITSM) platforms are redefining asset management frameworks.
IT Asset Management Software Market Recent Developments
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In October 2023, a company launched cloud-based IT asset management software featuring AI-driven analytics to optimize resource allocation and lower operational costs across IT infrastructures.
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In May 2020, an IT asset management software provider integrated blockchain technology to enable secure and transparent asset tracking and verification, enhancing trust and efficiency in IT asset management processes.
IT Asset Management Software Market Segment Analysis
In this report, the IT Asset Management Software Market has been segmented by Technology, End User, Application, Functionality and Geography.
IT Asset Management Software Market, Segmentation by Technology
The technology segmentation distinguishes how organizations deploy and scale IT asset management platforms to align with evolving infrastructure strategies and control models. Buyers balance security and compliance requirements with cost optimization, performance, and ecosystem interoperability, leading to a mix of On-Premises, Cloud-Based, and Hybrid adoption. Vendors emphasize automation, API-first architectures, and integrations with ITSM, CMDB, procurement, and security tools to address multi-environment complexity and future-proof investments.
On-Premises
On-premises deployments remain important where strict data residency, sovereignty, and governance imperatives prevail, especially in regulated verticals and environments with limited internet exposure. Enterprises value granular control over configuration, high-sensitivity discovery, and air-gapped scenarios, often integrating with existing datacenter and virtualization stacks. The key challenges include upgrade cadence, scalability across distributed sites, and higher lifecycle TCO compared with service-based delivery.
Cloud-Based
Cloud-based models accelerate time-to-value through SaaS delivery, continuous updates, and elastic scalability across endpoints, servers, and SaaS subscriptions. Organizations prioritize automation for discovery, license reconciliation, and compliance reporting, while leveraging native APIs to connect ITSM, FinOps, and security tooling. Strategic benefits include global access, reduced maintenance overhead, and analytics that surface spend control opportunities; however, buyers assess vendor SLAs, data protection, and integration depth carefully.
Hybrid
Hybrid approaches align with real-world estates that span on-premises infrastructure, public cloud, and remote endpoints, enabling phased transformation without operational disruption. Buyers combine local collectors with cloud orchestration to unify asset visibility, policy, and governance across environments. This model mitigates risk during migrations, supports legacy systems, and enables consistent compliance reporting, while emphasizing roadmap flexibility and modular licensing to adapt to future workload placements.
IT Asset Management Software Market, Segmentation by End User
End-user segmentation reflects differences in budget, operating scale, and IT maturity across Small, Medium, and Large Enterprises. Purchasing decisions emphasize ease of deployment, automation depth, reporting sophistication, and total cost of ownership. Vendors tailor packaging, onboarding, and customer success to match administrative capacity, while partners support implementation, training, and ongoing optimization to drive measurable outcomes.
Small Enterprises
Small enterprises prioritize simplicity, rapid onboarding, and templates that minimize administrative overhead while improving visibility of hardware, software, and SaaS spend. They favor subscription pricing, guided workflows, and prebuilt integrations that reduce time-to-value without heavy customization. Key outcomes include better license compliance, avoidance of unused seats, and streamlined audits with concise dashboards for leadership.
Medium Enterprises
Medium enterprises seek scalable governance as device estates and application portfolios expand across locations and remote teams. Requirements include role-based access, automated discovery, and richer analytics to support lifecycle planning, refresh schedules, and vendor negotiations. Buyers often adopt hybrid deployment patterns and invest in training to embed process discipline across IT, finance, and procurement functions.
Large Enterprises
Large enterprises demand deep integration with ITSM, SecOps, and FinOps, along with global scale, data federation, and complex license optimization for major publishers. They emphasize audit-ready compliance, automated reconciliation, and advanced governance for cloud, containers, and SaaS entitlements. Strategic priorities include multi-year vendor management, cost avoidance in true-ups, and analytics that link utilization to business outcomes.
IT Asset Management Software Market, Segmentation by Application
Application segments highlight domain-specific usage patterns, integrations, and compliance mandates across industries. Each vertical aligns ITAM capabilities to its operational context—from uptime and security requirements to audit trails, lifecycle controls, and financial stewardship. Vendors compete on automation, reporting depth, and practitioner experience tuned to the workflows of these sectors.
IT & Telecom
IT & Telecom operators rely on comprehensive discovery across networks, servers, and endpoints, with integrations into CMDB, monitoring, and orchestration. Emphasis on configuration accuracy, license optimization, and rapid incident correlation supports service quality and regulatory obligations. Scale demands high-performance data ingestion, normalization, and lineage tracking across multi-vendor estates.
Healthcare
Healthcare environments prioritize security, data protection, and auditability for clinical systems and connected medical devices. Asset traceability, patch hygiene, and compliance reporting help mitigate risk while supporting accreditation and reimbursement processes. Integrations with EHR ecosystems and strict governance controls ensure availability and integrity across care settings.
Manufacturing
Manufacturers align ITAM with OT/IoT discovery, plant-floor reliability, and lifecycle management of ruggedized endpoints and controllers. Capabilities such as software bill of materials mapping, vulnerability correlation, and spares planning improve resilience and reduce downtime. Procurement synergies and vendor consolidation further optimize spend across distributed facilities.
Retail
Retailers focus on multi-site deployment control, POS endpoint governance, and compliance for payments and data privacy. Seasonal workforce dynamics and store rollouts require standardized images, automated provisioning, and remote telemetry to reduce truck rolls. Analytics that link utilization with loss prevention and promotion systems strengthen store performance.
Banking & Financial Services
Financial institutions emphasize stringent regulatory compliance, audit readiness, and risk management across trading floors, branches, and remote endpoints. Advanced license optimization, encryption posture tracking, and segregation of duties controls support governance at scale. Integration with GRC platforms and immutable reporting underpins executive oversight and vendor assurance.
Government
Government agencies require robust governance, data sovereignty, and standardized controls across departments and field offices. ITAM platforms support inventory assurance, compliance attestations, and lifecycle planning aligned to budget cycles. Procurement frameworks, open standards, and strong audit trails help sustain transparency and mission readiness.
Education
Education institutions balance affordability with device lifecycle control for faculty and students, spanning labs, classrooms, and distance learning. Capabilities such as bulk provisioning, license pooling, and endpoint health analytics reduce overhead while meeting privacy and accessibility expectations. Centralized dashboards aid grant reporting and technology refresh decisions.
IT Asset Management Software Market, Segmentation by Functionality
Functionality segmentation addresses the core capabilities that deliver visibility, control, and value realization from IT assets. Buyers prioritize reliable discovery, authoritative configuration data, and automated governance that simplifies audits and negotiations. Differentiation centers on data quality, workflow automation, and actionable analytics for finance, security, and operations stakeholders.
Inventory Management
Inventory management provides unified asset discovery, normalization, and status tracking across hardware, software, virtual machines, and SaaS. Accurate records enable lifecycle planning, refresh optimization, and loss prevention, while feeding CMDB and ITSM processes. The emphasis is on data completeness, deduplication, and near-real-time updates for trustworthy decisions.
License Management
License management automates entitlement capture, reconciliation, and optimization across publishers and deployment models. Organizations reduce non-compliance risk, avoid shelfware, and prepare for audits with defensible positions. Advanced analytics support renewal strategies, metric conversions, and migration planning from perpetual to subscription models.
Compliance Management
Compliance management standardizes policies, controls, and evidence collection across regions and frameworks, producing audit-ready reports. It links configuration states with regulatory mandates, improving governance and reducing penalties. Automation reduces manual effort while strengthening stakeholder confidence in risk and internal control environments.
Lease Management
Lease management coordinates contract terms, schedules, and end-of-term options for financed assets, aligning with budgeting and refresh policies. Centralized visibility prevents over-runs and ensures timely returns, buyouts, or redeployments. Integration with procurement and finance systems enhances cash flow planning and audit transparency.
Cost Management
Cost management aggregates utilization, unit economics, and vendor spend to reveal optimization opportunities across hardware, software, and cloud services. Benchmarks and alerts guide rightsizing, contract consolidation, and retirement of low-value assets. Finance and IT leaders use shared dashboards to align savings with business outcomes and reinvest in innovation.
IT Asset Management Software Market, Segmentation by Geography
In this report, the IT Asset Management Software Market has been segmented by Geography into five regions: North America, Europe, Asia Pacific, Middle East and Africa and Latin America.
Regions and Countries Analyzed in this Report
North America
North America features mature adoption with emphasis on automation, compliance, and integration across ITSM, SecOps, and FinOps ecosystems. Organizations pursue cost optimization amid subscription growth and complex publisher metrics, while strengthening governance for cloud and SaaS estates. Partnerships with MSPs and global SIs accelerate enterprise rollouts and analytics-driven value realization.
Europe
European buyers prioritize data protection, sovereignty, and auditability, shaping vendor selection and deployment architectures. Multi-country operations require localized compliance reporting, contract harmonization, and language support, with strong interest in hybrid models. Sustainability and circular economy goals also influence lifecycle policies, refurbishment, and asset recovery strategies.
Asia Pacific
Asia Pacific shows varied maturity, with fast-growing markets investing in cloud-based platforms for rapid scale and distributed workforces. Enterprises seek unified asset visibility across subsidiaries, while channel partners provide localization and industry-specific templates. Competitive differentiation centers on time-to-value, flexible pricing, and robust integration with regional ecosystems.
Middle East & Africa
Middle East & Africa adoption is driven by national digital transformation agendas, government modernization, and large-scale infrastructure programs. Organizations emphasize governance, security, and standardized processes to support expansion and regulatory oversight. Vendor success hinges on strong local partnerships, implementation services, and support for multilingual, multi-entity operations.
Latin America
Latin American organizations focus on cost control, operational standardization, and simplified compliance reporting across diverse regulatory environments. Cloud-delivered solutions and partner-led deployments reduce administrative burden and accelerate outcomes. Growing attention to security, asset recovery, and license optimization supports resilience amid macroeconomic variability.
Market Trends
This report provides an in depth analysis of various factors that impact the dynamics of Global IT Asset Management Software Market. These factors include; Market Drivers, Restraints and Opportunities Analysis.
Drivers, Restraints and Opportunities Analysis
Drivers:
- Increasing Demand for Streamlined IT Operations
- Growing Adoption of Cloud-Based Solutions
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Compliance with Regulatory and Security Requirements- In the Global IT Asset Management (ITAM) Software Market, compliance with regulatory and security requirements acts as a significant driver. Organizations worldwide face increasing scrutiny from regulatory bodies to ensure the protection of sensitive data, proper software licensing, and adherence to cybersecurity standards. ITAM software helps businesses comply with such requirements by offering comprehensive tracking, auditing, and reporting features. These capabilities enable organizations to maintain accurate records of their IT assets and ensure they meet industry-specific compliance standards, such as GDPR, HIPAA, or ISO certifications.
Failure to comply with regulatory requirements can lead to severe consequences, including financial penalties, legal repercussions, and reputational damage. ITAM software reduces these risks by automating compliance checks and generating detailed compliance reports. Furthermore, with the growing prevalence of cyber threats, security compliance is paramount. ITAM solutions often include tools to monitor unauthorized software installations, mitigate vulnerabilities, and enforce security protocols, thereby enhancing the organization’s overall risk management strategy.
As digital transformation accelerates, the importance of regulatory and security compliance continues to grow. ITAM software not only facilitates adherence to existing regulations but also prepares organizations for future compliance challenges. By integrating compliance as a core function, ITAM solutions provide businesses with a competitive edge, ensuring smooth operations, customer trust, and long-term sustainability in an increasingly complex regulatory landscape.
Restraints:
- High Initial Investment Costs
- Complex Integration with Existing Systems
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Limited Awareness in Small and Medium Enterprises (SMEs)- In the context of the Global IT Asset Management Software Market, one key restraint factor is the limited awareness of Small and Medium Enterprises (SMEs) about the importance and benefits of IT asset management software. SMEs often lack the resources or knowledge to explore advanced technologies that could streamline their asset management processes. This limited understanding prevents them from recognizing the software’s potential to improve operational efficiency, reduce costs, and ensure compliance with regulatory requirements. As a result, many SMEs continue to rely on traditional or manual methods for tracking and managing their IT assets, which can lead to inefficiencies, inaccuracies, and increased risks.
Another challenge SMEs face is the misconception that IT asset management solutions are only relevant for large enterprises with substantial IT infrastructure. This belief may prevent smaller organizations from even considering IT asset management software as a viable solution. As SMEs tend to operate on tighter budgets and with fewer staff, they may assume that investing in such software is unnecessary or unaffordable, failing to understand that even businesses with smaller operations can greatly benefit from automation and streamlined asset tracking. This limited awareness hinders the adoption of IT asset management solutions, leading to missed opportunities for SMEs to enhance their asset lifecycle management.
Limited awareness in SMEs is often exacerbated by the complexity of IT asset management software itself. Many SMEs may find the range of features, deployment options, and vendor choices overwhelming. With a lack of expertise in IT and software solutions, they may struggle to navigate the various products in the market or fail to identify the most suitable software for their specific needs. This uncertainty can lead to hesitation in adopting IT asset management systems, slowing down the market's growth potential for this segment. Consequently, vendors may need to invest in educational efforts, marketing strategies, and tailored solutions to overcome this restraint and effectively reach the SME market.
Opportunties:
- Emerging AI and Machine Learning Applications in IT Asset Management
- Expanding Adoption in Emerging Markets
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Shift Towards Subscription-Based Pricing Models- The shift towards subscription-based pricing models in the Global IT Asset Management Software (ITAMS) market presents significant opportunities for companies operating in this space. Traditionally, IT asset management software was sold through one-time perpetual licenses, requiring a substantial upfront payment. However, as businesses increasingly move toward cloud-based solutions and Software-as-a-Service (SaaS) models, the subscription-based approach offers more flexible, scalable, and cost-effective solutions. This pricing model allows companies to access software on a recurring payment basis, which can lead to improved cash flow for providers and easier budget planning for customers. As organizations seek to modernize their IT infrastructures and embrace digital transformation, the demand for subscription-based IT asset management solutions is poised to grow.
For software providers, transitioning to subscription models can result in a more predictable and steady revenue stream, which is attractive to investors and stakeholders. By offering subscription-based services, ITAMS companies can also benefit from higher customer retention rates, as clients are less likely to abandon a service they rely on continuously. Additionally, this model allows for regular updates, patches, and new features, improving the software’s functionality over time without requiring customers to make additional purchases or upgrades. As organizations focus on improving efficiency, reducing IT complexity, and lowering overall IT management costs, subscription-based pricing models become an appealing option, driving the growth of the ITAMS market.
From a customer perspective, subscription-based IT asset management solutions can lower the barrier to entry for smaller businesses that may have previously found traditional software pricing models prohibitively expensive. Furthermore, subscription models allow businesses to scale their IT asset management solutions according to their needs, ensuring that they pay only for the resources they require. With features such as cloud integration, automation, and analytics, these subscription models offer businesses more efficient and comprehensive management of their IT assets. As IT asset management continues to be a critical aspect of organizational success, especially with the increasing complexity of managing devices, networks, and cloud infrastructures, subscription-based pricing is expected to remain a key driver of growth in the global ITAMS market.
IT Asset Management Software Market Competitive Landscape Analysis
IT Asset Management Software Market is highly competitive, with nearly 60% share dominated by leading enterprise software providers. Companies adopt strategies such as cloud deployment, subscription models, and integrated platforms. Strong partnerships with managed service providers enhance adoption, while continuous innovation in automation and analytics ensures steady growth across enterprise IT, telecom, and public sector segments.
Market Structure and Concentration
The market reflects moderate concentration, where top brands represent about 55% of total revenues. Regional players secure nearly 25% through niche strategies in SMB-focused solutions. Rising merger activity consolidates product portfolios, while collaboration with cloud providers strengthens competitiveness, balancing dominance of established enterprises with agility of innovative regional vendors.
Brand and Channel Strategies
Nearly 65% of adoption is driven through direct enterprise contracts and SaaS channels, reflecting targeted strategies. Partnerships with resellers and IT consultants expand accessibility. Around 30% of growth is supported by mid-market organizations, while channel expansion into online platforms and strategic collaboration with system integrators reinforce visibility and strengthen brand presence.
Innovation Drivers and Technological Advancements
Approximately 45% of market competitiveness is shaped by innovation in AI-driven asset tracking, predictive analytics, and automation. Technological advancements such as IoT integration and real-time monitoring enhance efficiency. Strategic collaboration with cybersecurity providers accelerates adoption, while growth is reinforced by digital transformation initiatives, making innovation central to long-term market leadership.
Regional Momentum and Expansion
North America contributes nearly 40% share, supported by advanced enterprise strategies and strong vendor partnerships. Europe accounts for around 30%, driven by compliance-focused innovation and digital initiatives. Asia-Pacific demonstrates more than 25% growth, fueled by rapid IT infrastructure expansion. Regional collaboration between software providers and enterprises supports balanced adoption across multiple industries.
Future Outlook
The future outlook highlights sustained growth, with more than 55% of providers expected to implement AI-driven strategies and multi-cloud integration. Expanding partnerships with service providers and enterprises will reshape competition. Ongoing innovation in automation, predictive analytics, and digital asset monitoring ensures long-term expansion, positioning IT asset management software as a cornerstone of enterprise operations.
Key players in IT Asset Management Software Market include:
- Microsoft
- IBM
- BMC Software
- Oracle
- SAP
- ServiceNow
- Dell Technologies
- Flexera
- Ivanti
- Snow Software
- HP
- SolarWinds
- Freshworks
- USU Software
- Broadcom
In this report, the profile of each market player provides following information:
- Company Overview and Product Portfolio
- Market Share Analysis
- Key Developments
- Financial Overview
- Strategies
- Company SWOT Analysis
- Introduction
- Research Objectives and Assumptions
- Research Methodology
- Abbreviations
- Market Definition & Study Scope
- Executive Summary
- Market Snapshot, By Technology
- Market Snapshot, By End User
- Market Snapshot, By Application
- Market Snapshot, By Functionality
- Market Snapshot, By End User Type
- Market Snapshot, By Region
- IT Asset Management Software Market Dynamics
- Drivers, Restraints and Opportunities
- Drivers
- Increasing Demand for Streamlined IT Operations
- Growing Adoption of Cloud-Based Solutions
- Compliance with Regulatory and Security Requirements
- Restraints
- High Initial Investment Costs
- Complex Integration with Existing Systems
- Limited Awareness in Small and Medium Enterprises (SMEs)
- Opportunities
- Emerging AI and Machine Learning Applications in IT Asset Management
- Expanding Adoption in Emerging Markets
- Shift Towards Subscription-Based Pricing Models
- Drivers
- PEST Analysis
- Political Analysis
- Economic Analysis
- Social Analysis
- Technological Analysis
- Porter's Analysis
- Bargaining Power of Suppliers
- Bargaining Power of Buyers
- Threat of Substitutes
- Threat of New Entrants
- Competitive Rivalry
- Drivers, Restraints and Opportunities
- Market Segmentation
- IT Asset Management Software Market, By Technology, 2021 - 2031 (USD Million)
- On-Premises
- Cloud-Based
- Hybrid
- IT Asset Management Software Market, By End User, 2021 - 2031 (USD Million)
- Small Enterprises
- Medium Enterprises
- Large Enterprises
- IT Asset Management Software Market, By Application, 2021 - 2031 (USD Million)
- IT & Telecom
- Healthcare
- Manufacturing
- Retail
- Banking & Financial Services
- Government
- Education
- IT Asset Management Software Market, By Functionality, 2021 - 2031 (USD Million)
- Inventory Management
- License Management
- Compliance Management
- Lease Management
- Cost Management
- IT Asset Management Software Market, By Geography, 2021 - 2031 (USD Million)
- North America
- United States
- Canada
- Europe
- Germany
- United Kingdom
- France
- Italy
- Spain
- Nordic
- Benelux
- Rest of Europe
- Asia Pacific
- Japan
- China
- India
- Australia & New Zealand
- South Korea
- ASEAN (Association of South East Asian Countries)
- Rest of Asia Pacific
- Middle East & Africa
- GCC
- Israel
- South Africa
- Rest of Middle East & Africa
- Latin America
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- North America
- IT Asset Management Software Market, By Technology, 2021 - 2031 (USD Million)
- Competitive Landscape
- Company Profiles
- Microsoft
- IBM
- BMC Software
- Oracle
- SAP
- ServiceNow
- Dell Technologies
- Flexera
- Ivanti
- Snow Software
- HP
- SolarWinds
- Freshworks
- USU Software
- Broadcom
- Company Profiles
- Analyst Views
- Future Outlook of the Market