Chicago, July 11, 2024 (GLOBE NEWSWIRE) -- The Software Asset Management Market is expected to grow from USD 3.5 billion in 2024 to USD 7.3 billion by 2029 at a Compound Annual Growth Rate (CAGR) of 16.0% during the forecast period,  according to a new report by MarketsandMarkets™.  The demand for the software asset management market is increasing globally due to the need for cost optimization, regulatory compliance, and effective management of digital transformations. Browse in-depth TOC on "Software Asset Management Market" 498 - Tables 56 - Figures 421 - Pages Download Report Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=235932482 Software Asset Management Market Dynamics: Drivers: Growing need to manage and optimize software assets Rising need to manage audits and meet regulatory compliances Proliferation of multicloud adoption Growing focus on remote workforce management driving software asset management market Rising spending on software Rising IT investments across industries Restraints: High initial investment Resistance to change and lack of awareness Opportunities: Rising trend of AI and ML incorporation with software asset management solutions Expansion into emerging markets Integration with ITSM Expansion of IoT driving demand for software asset management tools Increasing focus on sustainability and green IT practices List of Key Players in Software Asset Management Market: Flexera (US) Snow Software (Sweden) USU Software AG (Germany) Ivanti (US) BMC Software (US) ServiceNow (US) Certero (UK) Matrix42 (Germany) Broadcom (US) Request Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=235932482 Based on the offerings, the solutions segment will gain the largest market share during the forecast period. The software asset management market has been experiencing significant growth and is projected to continue expanding in the coming years. The software asset management market is experiencing robust growth driven by the increasing complexity of software licensing, the need for compliance with regulatory standards, and the rising incidence of software audits. Solutions in this market include license management, which ensures that organizations are using the software within the terms of their licenses; audit and compliance management, which helps in adhering to legal and vendor requirements; software discovery, which identifies all software assets within an organization; optimization and metering, which maximizes software utilization and tracks usage; and other solutions that streamline the management of software assets. Key drivers include the escalating ...