Published Date : Aug 01, 2016
ALBANY, NY, Aug 01, 2016: MarketResearchReports.biz has proclaimed the addition of a new report, titled “Global Software License Management Market 2016-2020.” The report highlights the global growth prospects for the software license management market and tracks the historical developments that have occurred in this field.
According to the report, the global market for software license management is expected to grow at a CAGR of 9% from 2016 to 2020. The study provides a complete overview of the trends, size, and market segmentation by region, form, and development model. The report considers the revenue generated from the total consumption of software license management solutions globally to calculate the size of the market.
The use of software without license counts as an infringement of copyright laws. Thus, software licensing is the solution for piracy, as it provides the usage rights for packaged software or components of software by acting as an agreement. Piracy and malware are the major drivers for the implementation of software licensing management solutions.
The report states that the increase in license and compliance audits is expected to boost the demand for software licensing. As enterprises are feeling the need to ameliorate issues regarding piracy, they are becoming more vigilant and keen to adopt software licenses. The opportunities that vendors of software licensing are likely to gain in the future are focused on the growing desktop virtualization, upsurge in cloud governance, and the advent of pricing models that are based on utility.
According to the report, EMEA is anticipated to lead with a market share of approximately 45% by 2020. EMEA countries, particularly developed countries in Western Europe, are aware of the high risks associated with non-compliance of software licensing and, due to the hefty fines enterprises have to pay for piracy, enterprises in EMEA countries are adopting software licensing, leading to a boost in the demand for software license management.
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The report also provides an insight into the challenges that the market for software license management is likely to face in the future. The difficulty in the management of multiple licenses is anticipated to act as a key restraint in the process of market growth. The lack of internal cross-functional alliances and issues regarding the data security and privacy of cloud-based solutions are also expected to hinder the demand for software licensing in the future.
The report states that the global market for software licensing is fragmented, but is led by vendors such as SafeNet and Flexera Software. But in spite of the existence of big companies, small vendors are also gaining popularity by adopting different pricing and marketing strategies. To expand their geographical reach, the top vendors are adopting mergers and acquisitions as a successful approach. This in turn is also helping them improve their market presence. The leading companies are focused on acquiring advanced technologies for better growth prospects. The key vendors in the global software license management market are Flexera Software, SafeNet, Reprise Software, Wibu Systems, and Snow Software.
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