PUBLISHER: The Business Research Company | PRODUCT CODE: 1849569
PUBLISHER: The Business Research Company | PRODUCT CODE: 1849569
Information technology asset management (ITAM) software is a specialized tool designed to help organizations efficiently manage their IT assets throughout their entire lifecycle. It offers features for tracking, managing, and optimizing both hardware and software assets.
The main components of the ITAM software market include hardware, software, and services. Hardware encompasses physical devices and equipment such as computers, servers, and networking devices. Key tools within ITAM software include discovery or automated inventory, license management, patch and version management, request management, product or service catalogs, and digital asset management. These tools can be deployed through various modes, such as cloud-based or on-premise solutions. ITAM software serves organizations of all sizes, from small and medium enterprises (SMEs) to large corporations, across diverse industries such as IT and telecom, banking, financial services, and insurance (BFSI), healthcare, retail, manufacturing, and government.
Note that the outlook for this market is being affected by rapid changes in trade relations and tariffs globally. The report will be updated prior to delivery to reflect the latest status, including revised forecasts and quantified impact analysis. The report's Recommendations and Conclusions sections will be updated to give strategies for entities dealing with the fast-moving international environment.
The sharp rise in U.S. tariffs and the ensuing trade tensions in spring 2025 are having a significant impact on the information technology sector, especially in hardware manufacturing, data infrastructure, and software deployment. Increased duties on imported semiconductors, circuit boards, and networking equipment have driven up production and operating costs for tech companies, cloud service providers, and data centers. Firms that depend on globally sourced components for laptops, servers, and consumer electronics are grappling with extended lead times and mounting pricing pressures. At the same time, tariffs on specialized software and retaliatory actions by key international markets have disrupted global IT supply chains and dampened foreign demand for U.S.-made technologies. In response, the sector is ramping up investments in domestic chip production, broadening its supplier network, and leveraging AI-powered automation to improve resilience and manage costs more effectively.
The information technology asset management (ITAM) software market research report is one of a series of new reports from The Business Research Company that provides IT asset management software market statistics, including the IT asset management software industry global market size, regional shares, competitors with IT asset management software market share, detailed IT asset management software market segments, market trends, and opportunities, and any further data you may need to thrive in the IT asset management software industry. These IT asset management software market research reports deliver a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The information technology (it) asset management software market size has grown strongly in recent years. It will grow from $4.33 billion in 2024 to $4.66 billion in 2025 at a compound annual growth rate (CAGR) of 7.8%. The growth in the historic period can be attributed to rise of digital transformation, increase in complexity of IT environments, growth in need for compliance and regulatory requirements, rise in proliferation of mobile and remote work, escalating IT asset costs, and rise in demand for improved operational efficiency and asset utilization.
The information technology (it) asset management software market size is expected to see strong growth in the next few years. It will grow to $6.31 billion in 2029 at a compound annual growth rate (CAGR) of 7.9%. The growth in the forecast period can be attributed to increasing IT asset complexity, the growing need for regulatory compliance, rising demand for cost optimization, expansion of remote work, and enhanced focus on cybersecurity. Major trends in the forecast period include adoption of AI and machine learning for predictive analytics, integration with cloud services, automation of asset management tasks, advancements in mobile and remote management capabilities, and advances in cloud computing.
The forecast of 7.9% growth over the next five years reflects a modest reduction of 0.5% from the previous estimate for this market. This reduction is primarily due to the impact of tariffs between the US and other countries. Tariff burdens on license imports and international compliance modules could slow down deployment of IT asset management software in enterprise environments. The effect will also be felt more widely due to reciprocal tariffs and the negative effect on the global economy and trade due to increased trade tensions and restrictions.
The increasing adoption of cloud computing is projected to drive the growth of the information technology (IT) asset management software market in the coming years. Cloud computing offers on-demand access to a variety of computing resources, including servers, storage, and software, through the internet. This model allows users to leverage these services without the need to own or manage physical hardware. The popularity of cloud computing is attributed to its cost-effectiveness, scalability, and flexibility, enabling businesses to adjust their resources as needed without significant investments in expensive hardware and infrastructure. IT asset management software supports cloud computing by providing tools to monitor and manage cloud resources, optimize asset utilization, ensure compliance, and integrate different cloud services, ultimately enhancing overall efficiency and control. For example, in April 2024, the European Commission, a government body based in Belgium, reported that in 2023, 77.6% of large enterprises utilized cloud computing services, marking a 6 percentage point increase since 2021. Additionally, cloud service adoption among medium-sized enterprises reached 59% in 2023, up from 53% in 2021. Therefore, the growth of cloud computing is fueling the expansion of the IT asset management software market.
Major companies in the IT asset management software market are concentrating on advanced technologies, such as integrating cloud services into asset management software, to enhance scalability, improve real-time data access, and streamline asset tracking and management across distributed environments. This integration involves incorporating cloud-based tools and platforms into the software used for tracking and managing an organization's assets. For example, in March 2022, Aptean launched Aptean EAM, a cloud-based asset management tool designed for manufacturing and businesses with complex equipment. The tool ranges from a basic computerized maintenance management system (CMMS) to a comprehensive EAM system, tailored for small to mid-sized companies. The platform enhances preventive maintenance with advanced analytics, work order management, automated approvals, and inventory tracking. Its user-friendly design facilitates easy deployment and boosts operational efficiency across manufacturing sites.
In June 2024, Freshworks Inc., a US-based software company, acquired Device42 Inc. for an undisclosed amount. This acquisition enhances Freshworks' IT Asset Management (ITAM) capabilities by offering a unified platform with advanced IT Service Management (ITSM) features, including improved asset discovery and risk management. It strengthens Freshworks' position in the ITSM market and demonstrates its commitment to delivering value to IT teams globally. Device42 Inc., a US-based software development company, specializes in IT asset management (ITAM) and network management tools.
Major companies operating in the information technology (IT) asset management software market are Deloitte, International Business Machines Corporation, HP Inc., Broadcom Inc., SAP SE, Salesforce Inc., ServiceNow Inc., BMC Software Inc., Atlassian Corporation, Micro Focus International plc, Zoho Corporation, IFS AB, Quest Software Inc., Ivanti Software Inc., SolarWinds Corporation, Freshworks Inc., Flexera Software LLC, ASG Technologies Group Inc., TOPdesk, Chevin Fleet Solutions, Lansweeper, Spiceworks Inc., Agiloft Inc., SysAid Technologies, InvGate
North America was the largest region in the information technology (IT) asset management software market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the information technology (IT) asset management software market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the information technology (IT) asset management software market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The information technology asset management (ITAM) software market consists of revenues earned by entities by providing services such as asset tracking, inventory management, compliance management, and software license management. The market value includes the value of related goods sold by the service provider or included within the service offering. The IT asset management (ITAM) software market also includes sales of network devices, barcode scanners, and data storage devices. Values in this market are 'factory gate' values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Information Technology (IT) Asset Management Software Global Market Report 2025 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on information technology (it) asset management software market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for information technology (it) asset management software ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward, including technological disruption, regulatory shifts, and changing consumer preferences? The information technology (it) asset management software market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The forecasts are made after considering the major factors currently impacting the market. These include the technological advancements such as AI and automation, Russia-Ukraine war, trade tariffs (government-imposed import/export duties), elevated inflation and interest rates.