IT Asset Management: Key market research findings
- The Americas dominate the market geographically
- Increasing adoption of hybrid deployment model
- Key vendors – CA Technologies, IBM, Oracle, SolarWinds, and BMC
Technavio’s market research analysts predict the global market for IT asset management to grow at a CAGR of more than 7% between 2016 and 2020. The demand for IT asset management is spurred by growing adoption of BYOD policy among enterprises. The concept of BYOD allows employees to use their personal devices such as laptops, tablets, and smartphones at work and is characterized by changes in work locations, time-zone barriers, and access to official and confidential data through personal devices. As a result, IT asset management software vendors are now providing tailor-made services for smartphones and tablets. In 2015, the Americas accounted for more than 55% of the overall market share to become the dominant shareholder in the global IT asset management market. The presence of large enterprises, availability of high-speed broadband networking, and an increase in the number of hosted servers are some the factors that will fuel the growth of the IT asset management market in the Americas during the forecast period.
The new market research report from Technavio presents a breakdown and analysis of the IT asset management segments based on the deployment type.
“Currently, the market is witnessing an increase in the adoption of the hybrid deployment model. Hybrid models are flexible and offer customers the option to customize the service to suit their needs. Since this model includes automatic upgrades and can handle complex IT transactions, it is one of the most progressive models of deployment. Firms that want to increase their ITAM capabilities without adding servers or related infrastructure are increasingly opting for hybrid deployment models,” says Amrita Choudhury, Lead Analyst, ICT, Technavio Research.
In 2015, the cloud segment accounts for over 70% of the overall market revenue to become the primary revenue generating vertical of the global market for IT asset management. Cloud-based solutions come with a regular payment option instead of a huge one-time investment and periodic payments for maintenance and updates. Some hosted solutions may involve a larger portion of the cost upfront with smaller annual support payments. Some key advantages of hosted solutions include predictable expense, low IT personal costs, and free upgrades that are included in the subscription fee.
The leading players in the global ITAM market comprise of CA Technologies, IBM, Oracle, SolarWinds, and BMC. The market offers several growth opportunities for vendors irrespective of their size. Large players with established brand names and proven capabilities are likely to target the major enterprises due to their ability to cater to standardized communication requirements of end-users. However, the market has a significant untapped potential and is characterized by the presence of aggressive buyers of advanced technologies.
A more detailed analysis is available in the Technavio report, Global IT Asset Management Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
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