Minimization is a particular aspect of this growing trend, which involves many organisations quickly adopting cloud computing and digital at every stage. Due to increased rivalry and drastically changing machinery, profit margins for businesses are continuously declining. As a result, many businesses are growing in an effort to reduce operational costs. The Software-as-a-Service (SaaS) model is swiftly advancing, gaining the support of enterprise IT firms and even software firms, which are now offering products via subscription rather than through the sale of patents. Over 80% of businesses reportedly use at least one SaaS application. One of the most crucial tasks performed by IT teams has been software licence management (SLM). SAM, also known as software asset management, is an essential component of IT asset management, or ITAM, and SLM is a key component of both. SAM is the broad term for all the processes and technologies needed to oversee, manage, and secure all software assets over their entire lifecycles. It goes without saying that effective software licence management and compliance are necessary to meet the SAM goal.
According to Coherent Market Insights, with a forecasted compound annual growth rate (CAGR) of 10.6% from 2022 to 2030, the global Licence Management Market is expected to rise from its 2021 valuation of USD 977 million.
Leading Companies in the License Management Industry:
1. USU Software AG
The firm was started in 1977 and is based in Möglingen, Germany. The business creates and sells software used to establish adaptable, scalable business-to-business and business-to-consumer e-commerce platforms. With the addition of entertainment and e-commerce components, the company's software converts current databases and inventory management systems for use on the Internet. The USU Group announced on January 28, 2021, that it would combine all of its company’s under the single USU brand.
2. Flexera Software LLC
The firm was established in 1988 and has its main office in Illinois, United States. Application software is created and developed by Flexera Software LLC. The business provides solutions for licence management, workflow management, compliance, application preparation, and installation. Flexera introduced a brand-new division called Revenera on May 28, 2020. Flexera bought software usage analytics firm Revulytics on February 5, 2020.
3. Cherwell Software LLC,
The business was established in 2004 and is located in Colorado Springs, Colorado. Prepackaged computer software development, creation, and marketing are among the company's core competencies. Express Software Manager is created by Cherwell for software and IT asset management.
4. Snow Software AB
The company was founded in 1997 and is based in Solna, Stockholms Lan, Sweden. Software asset management services are offered by Snow Software AB. The business provides platforms for expenditure auditor, risk monitor, and productivity optimizer as well as software asset management solutions for cloud-based software, SaaS, and IaaS.
5. ServiceNow Inc
The business was started in 2004 and is based in California, United States. The company creates a cloud computing platform to assist businesses in managing digital workflows for internal business processes. Era Software was acquired by ServiceNow in October 2022, according to the announcement. ServiceNow declared in June 2022 that it had acquired Hitch. ServiceNow disclosed in August 2021 that it has acquired Swarm64 and Mapwize.
6. Oracle Corporation
The company was founded in 1977 and is based in Austin, Texas, United States. The business offers enterprise information management software. The company provides enterprise business applications, application development and decision support tools, relational databases, and relational servers. The purchase of Cerner, a provider of health information technology, was announced by Oracle on December 20, 2021.
7. DXC Technology Co.
The company was founded in 2017 and is based in Virginia, United States. The Company offers services in information technology. The business provides services and products in analytics, apps, business processes, cloud computing and workload, consulting, and security. Atos, a French provider of consulting and technology services, put a halt to discussions for purchasing DXC in February 2021.
Definition: The process of tracking and identifying the software used in a corporation is known as software licencing management. This licencing process enables software producers to monitor, assess, and verify how software is being used, as well as to increase income by verifying that users are abiding by the terms of their licences.
