License Management Market Insights, Growth, Trends, & Industry Anticipated to Reach $1723.6 Million by 2027 – Exclusive Report by Mordor Intelligence

Mordor Intelligence
Healthcare and life sciences are amongst the fastest-growing verticals with respect to the adoption of advanced technologies and services in terms of the license management market. Healthcare institutions using these solutions for operational activities and management of medical devices have to adhere to regulations as per the laws of governing bodies.

License Management Market Overview

The global license management market was valued at USD 977 million in 2021, and it is projected to reach USD 1,723.6 million by 2027, registering a CAGR of 10.07% during 2022-2027. License management is a powerful tool that an organization uses to document and manage its software licenses to ensure compliance with the developer’s software license. License management enables companies to control all agreements, contracts, license entitlements, and software inventory from a centralized location. The Business Software Alliance (BSA) is a global industry organization whose mission is to advocate for legal software usage and enforce compliance among businesses. To fulfill this duty, the BSA regularly performs court-ordered audits at organizations to ensure they are compliant with all software licenses, whether small mom-and-pop shops, massive enterprises, academic institutions, or government agencies.

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License Management Market – Geographical Overview

Most of the top suppliers in the License Management Software market are headquartered in the United States – Agilis Software, IBM, Micro Focus, Oracle, to name a few. In 2021, after listening to its 55,000+ user base, MyMediabox has launched a range of additions to its licensing management software to offer users new productivity tools to aid the licensing process. The Mediabox-GD (Global Dashboard) is enhanced with graphically oriented key performance indicators (KPIs), business intelligence trends, and seamless access to all Mediabox services for licensors keeping track of countless partnerships and consumer products.

Key Highlights of the North American License Management Market

Site24x7 surveyed 613 IT professionals across various topics, organization sizes, and geographies in their State of IT Management Survey Report 2020 – 2021. In North America, 41% of respondents use internal software to maintain the organization’s various software licenses, followed by third-party license management software.
Over four years, a report on the cost of unused software collected data from 3.6 million users at 129 companies in the United States and the United Kingdom. Researchers found that 37 % of all installed software was not being used, amounting to USD 259 per desktop and over USD 37 billion in total wasted IT spend.

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Recent Developments in the License Management Market

In March 2022, GEFA BANK, a financing partner for German SMEs and a subsidiary of Société Générale, has selected DXC Technology for a digital transformation project. With the “G-Rocket” program, GEFA BANK and DXC Technology will migrate the bank’s mission-critical applications and data from its existing data center to Microsoft’s Azure cloud platform. With the move to the Azure cloud, GEFA BANK and DXC will systematically deploy the bank’s application landscape to cloud-native services such as Azure Kubernetes Service (AKS).
In February 2022, Thales entered a collaboration with Lantronix Inc. and Taoglas to develop and deliver application-specific smart industrial IoT solutions for connecting data-dependent vertical industries, including Industrial 4.0, Security, and Transport markets.

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List of Key Players in the License Management Market

USU Software AG
Cherwell Software LLC
DXC Technology Co
Flexera Software LLC
Reprise Software Inc.
Snow Software AB
Oracle Corporation
IBM Corporation
Thales Group
ServiceNow Inc.

*List Not Exhaustive

Mordor Intelligence has segmented the global license management market based on component, deployment, application, end-user vertical, and geography:

Component (Market Size & Forecast based on Revenue (USD million), 2020-2027)
Software
Services

Deployment (Market Size & Forecast based on Revenue (USD million), 2020-2027)
On-Premise
Cloud

Application (Market Size & Forecast based on Revenue (USD million), 2020-2027)
Audit Services
Advisory Services
Compliance Management
License Entitlement and Optimization
Operations and Analytics
Others

End-user Vertical (Market Size & Forecast based on Revenue (USD million), 2020-2027)
BFSI
Healthcare and Life Sciences
IT & Telecommunication
Media and Entertainment
Other End-user Vertical

Geography (Market Size & Forecast based on Revenue (USD million), 2020-2027)
North America
Asia-Pacific
Europe
Latin America
Middle East and Africa

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