Global IT Asset Management Market 2016-2020

Market overview of IT asset management (ITAM)

The global market for IT asset management (ITAM) will exhibit impressive growth and will be influenced by the growing demand for cloud-based ITAM software. For most organizations, the key benefit of cloud-based ITAM software is the associated cost benefit, especially because of its subscription-based pricing model. As per this subscription model, firms have to pay a subscription fee on a monthly or yearly basis, which covers everything from operations to maintenance. This model is affordable for most companies as it negates the need for any IT infrastructure to be built at the firm's end. According to Technavio’s market research analyst, the global ITAM market will grow at a CAGR of over 7% by 2020.

In terms of geography, the Americas dominated this market during 2015 and accounted for an impressive market share of more than 55% by 2020. The presence of large enterprises, availability of high-speed broadband networking, and an increase in the number of hosted servers are the key factors responsible for the strong growth of this market. In the Americas, the US and Canada are the two major revenue-generating regions as both these countries exhibit the extensive adoption of cloud-based services by enterprises and government organizations.

Competitive landscape and key vendors