License Management Software Market Growth To Be Driven By Growing Demand For Effective And Efficient License Management Software Across The Globe
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License management software is also defined as entitlement management or software DRM. The services and solutions are helpful in positioning and implementing various types of complex licensing scenarios such as demo-to-full version conversion, floating licenses, online and offline enforcement, and handling of virtualization. License management systems include client-side components server and back office.
License management solutions are helpful is safeguarding a business or organization against license defiance inspections by offering data and information on the actual data usage of the software. This process is helpful in overcoming potential threats and helps in controlling the unwanted expenses from different software vendors. These solutions increase the operational transparency for preventing process costs that are associated with software misuse.
Rising in audit activities and licensing different compliance audits, is fueling the growth of the market. In addition, rising adoption of software license management solutions for monetizing various intelligent and embedded devices and increasing penetration of cloud models and pay-by-usage is likely to help as one of the possible opportunities for market players in the global license management software market.
However, difficulties that are involved in migrating to license management software, low penetration of license management software and rising cyber-attacks and security concerns impede the growth of the overall market. Major leading companies look for low price solutions, that helps to price wars amongst different dealers producing downward pricing pressure and decreasing revenues of the global license management software market. growing adoption of cloud-based technology and virtualization of business processes is creating an opportunity for the target market.
There are two types of license software management software available such as hardware-based enforcement and software-based and cloud-based enforcement. Demand for software based and cloud-based enforcement type is increasing due to increasing number of audit activities and license compliance audits, and rising need for reducing piracy issues.
By application, the market is divided into B2B vendors and B2C vendors. The demand for B2B vendor’s application is high as compared to B2C vendors as it is one of the mature concepts, and is familiar to many individuals.
Based on regions, the market has been analyzed across North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. Among these regions, the market in North America is observed to be comparatively more inclined towards this license management software due to high adoption rate of the software solutions and services, which is resulting in high revenue growth opportunities for players operating this region. The market in Asia Pacific is growing due to increasing presence of various local publishers who are adopting license management for protecting knowledgeable property, that is helpful in offering little legal redress against piracy.
The worldwide market for license management software is expected to grow at a moderate CAGR of around X.X% over the forecast period and will be valued at US$ XX.X Mn in 2028, from US$ XX.X Mn in 2018.
Some of the key players profiled in the global license management software market report include Flexera Software, Inishtech, Reprise Software, Snow Software, SafeNet, Moduslink, Wibu Systems, Pace Anti-Piracy, and Nalpeiron.
Tajammul Pangarkar is a CMO at Prudour Pvt Ltd. Tajammul longstanding experience in the fields of mobile technology and industry research is often reflected in his insightful body of work. His interest lies in understanding tech trends, dissecting mobile applications, and raising general awareness of technical know-how. He frequently contributes to numerous industry-specific magazines and forums. When he’s not ruminating about various happenings in the tech world, he can usually be found indulging in his next favorite interest - table tennis.
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