Connect with us

Technology

IT Asset Management Software Market to grow by USD 737.6 Million from 2025-2029,rapid adoption of asset management software and growing importance of asset tracking boost the market, Report on AI’s impact on trends – Technavio

Published

on

NEW YORK, Jan. 30, 2025 /PRNewswire/ — Report on how AI is redefining market landscape – The global IT asset management software market size is estimated to grow by USD 737.6 million from 2025-2029, according to Technavio. The market is estimated to grow at a CAGR of almost 9%  during the forecast period. Rapid adoption of asset management software and growing importance of asset tracking is driving market growth, with a trend towards increasing need to comply with asset management standards. However, integration and implementation issues  poses a challenge. Key market players include Aptean, BMC Software Inc., Certero Ltd., Datalogic SpA, Dell Technologies Inc., Flexera Software LLC, Freshworks Inc., Hewlett Packard Enterprise Co., Hexagon AB, International Business Machines Corp., InvGate, Ivanti Software Inc., Microsoft Corp., Oracle Corp., SAP SE, ServiceNow Inc., Snow Software, SolarWinds Corp., SymphonyAI Summit, and SysAid Technologies Ltd.

Key insights into market evolution with AI-powered analysis. Explore trends, segmentation, and growth drivers- View Free Sample PDF

IT Asset Management Software Market Scope

Report Coverage

Details

Base year

2024

Historic period

2019 – 2023

Forecast period

2025-2029

Growth momentum & CAGR

Accelerate at a CAGR of 9%

Market growth 2025-2029

USD 737.6 million

Market structure

Fragmented

YoY growth 2022-2023 (%)

8.0

Regional analysis

North America, Europe, APAC, Middle East and Africa, and South America

Performing market contribution

APAC at 33%

Key countries

US, Canada, China, UK, Japan, India, France, Germany, Italy, and South Korea

Key companies profiled

Aptean, BMC Software Inc., Certero Ltd., Datalogic SpA, Dell Technologies Inc., Flexera Software LLC, Freshworks Inc., Hewlett Packard Enterprise Co., Hexagon AB, International Business Machines Corp., InvGate, Ivanti Software Inc., Microsoft Corp., Oracle Corp., SAP SE, ServiceNow Inc., Snow Software, SolarWinds Corp., SymphonyAI Summit, and SysAid Technologies Ltd

Market Driver

IT Asset Management (ITAM) software market is witnessing significant trends in 2023. Cost savings and operational effectiveness are key drivers, with businesses seeking to reduce asset acquisition costs and optimize IT infrastructure. Security is a top priority, with ITAM solutions providing centralized management, automation, and compliance with license management, patch & version management, and request management. Cloud technologies, including on-cloud, hybrid on-cloud, and SaaS applications, are increasingly adopted by SMEs and large enterprises. CA Technologies and Cherwell Software lead the market, with digital technologies and cloud services gaining popularity. Tech hubs and the SMB segment are seeing growth, while compliance concerns persist in the financial markets. Trends include AI, low-code, and digital asset management. VMware, Helsana, ITConcepts, and Google Search Advertising are making strategic market developments. The first quarter of 2023 projects growth in the big enterprise sector, with storage requirements and licensing management being major concerns. Cloud improvements are expected in the cloud sector, particularly in banking, financial services, insurance (BFSI), healthcare, manufacturing, and telecom and IT. Pharmaceutical & medical industries are also investing in ITAM software for optimization and metering. 

Assets are essential for businesses to achieve their objectives, whether in the public or private sector. Effective asset management maximizes value-for-money by coordinating the planning, selection, utilization, and disposal or renewal of assets. Information security and disaster recovery are crucial aspects of asset management. IT financial management and IT asset management play a significant role in risk mitigation, particularly in relation to software license compliance. Without accurate information, organizations risk over-deploying software, leading to potential legal, financial, and reputational consequences. IT Asset Management Software (ITAM) helps organizations maintain an accurate inventory of software assets, ensuring compliance with license agreements and reducing the risk of non-compliance. ITAM solutions provide valuable insights into software usage, enabling organizations to optimize their software investments and minimize unnecessary costs. 

Request Sample of our comprehensive report now to stay ahead in the AI-driven market evolution!

 Market Challenges

IT Asset Management (ITAM) software is essential for businesses to effectively manage their IT assets, including hardware and software inventory, procurement, utilization, and disposal. However, implementing ITAM software comes with challenges. Cost is a significant concern, with large enterprises and SMEs requiring different solutions. Security is another challenge, as IT assets need protection from cyber threats. Centralization and automation are key to operational effectiveness, but IT infrastructure choices, such as on-premise, cloud, or hybrid on-cloud, impact implementation. Security, compliance, and cloud adoption are top concerns for CEOs in various sectors, including aerospace & defense, IT & telecom, banking, financial services, insurance (BFSI), healthcare, manufacturing, and pharmaceutical & medical. Cloud technologies, including VMware, CA Technologies, Cherwell Software, and SaaS applications, offer solutions. However, strategic market developments, acquisitions, and mergers impact the ITAM software landscape. Cost savings, asset utilization, and compliance are critical for ITAM software adoption. Cloud services, AI, low-code, and digital asset management are emerging trends. Helsana, ITConcepts, and other tech hubs provide innovative solutions. Asset acquisition costs, hardware components, purchasing decisions, and shutdown are essential considerations. Financial markets, economic conditions, and storage requirements influence ITAM software projections in the first quarter and throughout the projection period in the big enterprise sector.Enterprises utilize IT asset management software to enhance the productivity of their IT resources. Selecting an appropriate asset management solution, however, poses a significant challenge for organizations. Failure to comprehend business needs and assess the capabilities and limitations of potential tools may result in ineffective implementations. Moreover, integrating IT asset management software with existing business applications proves to be a hurdle due to insufficient expertise and knowledge in customizing these solutions to fit unique business requirements. Consequently, the global IT asset management software market expansion encounters obstacles due to these challenges.

Discover how AI is revolutionizing market trends- Get your access now!

Segment Overview 

This it asset management software market report extensively covers market segmentation by  

End-user 1.1 Large enterprises1.2 SMEsDeployment 2.1 On-premises2.2 CloudGeography 3.1 North America3.2 Europe3.3 APAC3.4 Middle East and Africa3.5 South America

1.1 Large enterprises-  Large enterprises in sectors such as manufacturing, healthcare, finance, government, telecommunications, retail, technology, energy, transportation, and education are major consumers in the global IT asset management software market. These organizations require efficient management of their extensive IT assets and infrastructure. IT asset management software enables automation of asset lifecycle operations, inventory tracking, asset utilization optimization, and adherence to licensing agreements. To address their complex and diverse IT infrastructure needs, large enterprises invest in comprehensive IT asset management software. This software offers features like automated asset detection, software license management, contract administration, and reporting capabilities. Furthermore, cloud-based IT asset management systems allow companies like Microsoft Corp. And Oracle Corp. To manage assets across multiple locations and business units. By implementing IT asset management software, large enterprises enhance operational efficiency and cost savings in the dynamic IT landscape, driving the market’s growth during the forecast period.

Download a Sample of our comprehensive report today to discover how AI-driven innovations are reshaping competitive dynamics

Research Analysis

IT Asset Management (ITAM) software is a crucial solution for businesses to effectively manage their IT infrastructure, including hardware and software assets. The market for ITAM software is growing rapidly due to the increasing importance of cost control, security, centralization, and automation in IT management. IT assets, including hardware components and software inventory, are essential for business operations, especially in tech hubs and industries like BFSI. Cloud technologies and cloud services, including SaaS applications, are driving the adoption of ITAM software, enabling on-cloud deployment and real-time asset visibility. Digital technologies are also transforming ITAM, making it more automated and contractual, reducing asset acquisition costs, and improving asset utilization throughout the IT asset life cycle. CA Technologies and Cherwell Software are among the leading ITAM software providers, offering comprehensive solutions to help businesses optimize their IT infrastructure and reduce costs while ensuring security and compliance.

Market Research Overview

IT Asset Management (ITAM) software is a crucial business solution that helps organizations effectively manage and optimize their IT assets throughout their entire life cycle. ITAM software enables centralization, automation, and security of IT infrastructure, including hardware, software inventory, and licensing management. With the increasing adoption of cloud technologies, ITAM software is available both on-premise and on-cloud, catering to the needs of SMEs and large enterprises alike. Cloud improvements, such as hybrid on-cloud and SaaS applications, have significantly impacted the ITAM market. Cost savings, operational effectiveness, and compliance concerns are key drivers for ITAM software adoption in various industries, including aerospace & defense, IT & telecom, banking, financial services, insurance (BFSI), healthcare, manufacturing, and pharmaceutical & medical. The ITAM market is witnessing strategic market developments, including acquisitions, mergers, and partnerships, to enhance product offerings and expand market reach. CA Technologies and Cherwell Software are notable players in the ITAM software market, offering digital technologies and cloud services to meet the evolving needs of businesses. Moreover, the emergence of AI, low-code, and digital asset management solutions is transforming the ITAM landscape, enabling organizations to optimize asset utilization, reduce asset acquisition costs, and make informed purchasing decisions. The first quarter of the projection period is expected to see significant growth in the big enterprise sector, driven by storage requirements and cloud sector expansion. Google Search Advertising is a popular marketing strategy for ITAM software vendors, targeting keywords such as IT asset management, IT infrastructure, asset procurement, asset utilization, patch & version management, request management, product/service catalog, digital asset management, and compliance concerns. In conclusion, ITAM software plays a vital role in managing IT assets and optimizing business operations for organizations across various industries. With the increasing adoption of cloud technologies and digital solutions, the ITAM market is poised for significant growth in the coming years.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

End-userLarge EnterprisesSMEsDeploymentOn-premisesCloudGeographyNorth AmericaEuropeAPACMiddle East And AfricaSouth America

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

View original content to download multimedia:https://www.prnewswire.com/news-releases/it-asset-management-software-market-to-grow-by-usd-737-6-million-from-2025-2029-rapid-adoption-of-asset-management-software-and-growing-importance-of-asset-tracking-boost-the-market-report-on-ais-impact-on-trends—technavio-302362888.html

SOURCE Technavio

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Technology

Saramonic WiTalk9 X: Modular-Designed, Lightweight Wireless Intercom System Redefines Team Communication

Published

on

By

NEW YORK, April 19, 2026 /PRNewswire/ — Saramonic, a leading brand in audio solutions, announced a 9-Person Modular Full-Duplex Wireless Intercom System WiTalk9 X and the WiTalk9 Base. WiTalk9 X builds upon the success of the WiTalk9 with a focus on lightweight comfort and modular adaptability, introducing unprecedented flexibility and scalability of modern production teams from small to large.

Industry-First Modular Design for Maximum Flexibility

The Saramonic WiTalk9 X sets a new standard for adaptability in wireless intercom systems. Its industry-first modular construction allows users to switch between single-ear, dual-ear, or helmet-ready models, accommodating the diverse needs of different crew roles.

Weighing just 172 grams (6 oz) with battery in its single ear configuration, the WiTalk9 X delivers all-day comfort for demanding production environments. The IPX4-rated, lightweight design allows professionals who wear headsets for extended periods during long shoots or live events to focus on their work.

Intelligible Voice Communication: Saramonic ClearTalk™2.0 Technology and AI Noise Cancellation

Saramonic ClearTalk™2.0 combines the dual-microphone array and Saramonic AI Noise Cancellation. The cardioid main microphone focuses on the speaker’s voice, and the omnidirectional secondary mic collects the noise as samples for Saramonic AI Noise cancellation to separate the vocal and noise, ensuring clear and stable voice communication.

Saramonic AI Noise Cancellation is trained by over 700,000 noise samples across 20,000+ hours. Compared to traditional environmental noise cancellation that only handles ambient sounds, it identifies and separates noise in real-time to keep voice clear and stable within team communication, even when multiple crews speak at once in a complex environment.

Efficient Team Work with Dual-Antenna Design and Saramonic WiTalk Wireless Intercom Ecosystem

The WiTalk9 X features both internal and external antennas to continuously monitor signal quality and select the stronger signal. It operates on the 1.9 GHz DECT Technology and offers up to 12 hours battery life with a spare rechargeable lithium battery for quick replacement, enables teams to stay connected within 1,300 ft (400m) – ideal for events, film shoots, and live performances.

Saramonic WiTalk9 X supports a 9-person system without a hub, and can be easily scaled up to 64 users via WiTalk Base, enabling group cascading and remote collaboration with an industry-leading range of up to 700 meters.

Pricing and Availability

The Saramonic WiTalk9 X is available through official stores. For detailed pricing and configuration options, please contact your local Saramonic representative or visit www.saramonic.com.

Contact: marketing@saramonic.com 

Photo – https://mma.prnewswire.com/media/2959888/9x__________1_1.jpg

View original content:https://www.prnewswire.co.uk/news-releases/saramonic-witalk9-x-modular-designed-lightweight-wireless-intercom-system-redefines-team-communication-302746569.html

Continue Reading

Technology

Siemon Releases 2026 ESG Report and Progress Update Report

Published

on

By

WATERTOWN, Conn., April 19, 2026 /PRNewswire-PRWeb/ — The Siemon Company, a global leader in high‑performance network infrastructure solutions for data centers and smart buildings, is proud to announce the release of its 2026 Environmental, Social, and Governance (ESG) Report, showcasing accelerated climate action, third‑party‑verified performance, and continued leadership in transparent, responsible business practices. The report highlights Siemon’s strongest ESG results to date, including early achievement of science‑based climate targets, expanded renewable energy adoption, increased product transparency, and a people‑first culture that supports accountability, equity, and long‑term value creation.

Sustainability is not a side initiative; it’s embedded in how we operate, how we innovate, and how we lead. This year’s report reflects disciplined execution across our Sustainable Development Goals, our value chain, and our workforce.

Key Highlights from the 2026 ESG Report:

Greenhouse Gas (GHG) Emissions

Achieved a 69% absolute reduction in Scope 1 and Scope 2 emissions from a 2021 baseline, surpassing the company’s 2031 SBTi‑validated target four years ahead of schedule.Reduced Scope 3 emissions intensity by 23.1%, while maintaining essentially flat absolute emissions despite business growth.

Energy, Water & Waste

Increased renewable energy usage to 90% of global operations, achieving Scope 2 carbon neutrality at major U.S. and China facilities.Reduced water usage by 30%, exceeding the company’s long‑term reduction goal.Delivered a 17.1% absolute reduction in waste, supported by expanded recycling and sustainable packaging initiatives.

Product Transparency & Customer Enablement

Expanded Environmental Product Declaration (EPD) coverage to 41% of sales and Health Product Declaration (HPD) coverage to 49% of sales, supporting green building and material health requirements to a screening threshold of 100 ppm.Launched an online compliance portal providing on‑demand regulatory and standards assurance for 99% of finished goods, including RoHS, REACH, PFAS, and conflict minerals.

People & Social Impact

Certified™ by Great Place To Work® in the U.S. for the third consecutive year, with 90.4% of employees globally affirming Siemon as a great place to work.We have made a commitment to ensure that 100% of our employees are paid at or above the living wage. Contributed 2,600+ volunteer hours and over $160,000 in charitable giving, supporting education, community, and conservation initiatives worldwide.

Governance & Transparency

Advanced alignment with the EU Corporate Sustainability Reporting Directive (CSRD), completing a third‑party‑reviewed Double Materiality Assessment and Limited Assurance Audit.Maintained 100% employee training on the Company Code of Conduct, aligned with the UN Global Compact and Responsible Business Alliance principles.

“Sustainability is not a side initiative; it’s embedded in how we operate, how we innovate, and how we lead. This year’s report reflects disciplined execution across our Sustainable Development Goals, our value chain, and our workforce. We’re focused on delivering measurable progress today while building the systems and governance needed for the future.”

– John Siemon, Chief Technology Officer and Chief Operating Officer at Siemon

In a unique effort to bridge corporate reporting with tangible action, Siemon has integrated an interactive giving component into the digital publication. Within the executive summary and each primary pillar – Environmental, Social, and Governance -readers will find a dedicated link to unlock a corporate donation. This initiative empowers stakeholders to personally direct Siemon to fund toward one of five global non-profit partners: Habitat for Humanity, Doctors Without Borders, Engineers Without Borders, One Tree Planted, or Oceana.

The full 2026 ESG Report is available for download at www.siemon.com/esg.

About Siemon

Siemon is a global market leader in the design and manufacture of high-performance connectivity solutions for data centers and smart buildings. We empower our customers to connect faster, scale smarter and deploy with confidence. Founded in 1903, our legacy of customer-driven innovation, engineering excellence, and an unwavering commitment to sustainability has made us the benchmark for quality and reliability. We deliver precision-built copper, fiber and high-speed connectivity solutions that perform at scale, with the flexibility, speed, and support our customers rely on. With operations in over 100 countries, Siemon has one of the industry’s broadest solution portfolios and is the trusted partner behind the networks that connect the world. Find out more at www.siemon.com.

Media Contact

Brian Baum, Siemon, 1 8609454200, brian_baum@siemon.com

View original content:https://www.prweb.com/releases/siemon-releases-2026-esg-report-and-progress-update-report-302746314.html

SOURCE Siemon

Continue Reading

Technology

Quickplay’s Triple Play of New Customers, Products and Partnerships Set to Dominate NAB 2026

Published

on

By

LAS VEGAS, April 19, 2026 /PRNewswire/ — (2026 NAB Show) – Quickplay, the Content to Value Operating System, today unveiled a broad array of company news including: an AI-enriched solution that identifies social signals and trending topics, and connects them to relevant content within minutes; transformative customer deployments; and powerful industry research and partnerships.

Debuting at NAB, Social Signals is a new technology within Quickplay AI Studio that identifies trending cultural moments and matches them with high-value content assets to automatically generate social-ready clips and posts. By combining external trend data with performance insights from owned channels, Social Signals enables content teams to move from insight to publishing in minutes, rather than days.

Social Signals is a key part of Quickplay’s AI Studio Solution, which includes metadata enrichment, moment detection, smart verticalization and multi-platform publishing. Its Smart Verticalizer uses multimodal AI and action tracking to intelligently reframe video –preserving key visual elements such as faces, gameplay and on-screen graphics – to maintain broadcast-quality standards across short-form formats. The company has also partnered with Visible Things, the creator-driven platform to deploy the first implementation of Social Signals across the Visible Things infrastructure.

Quickplay further announced it has gone live with Gray Media (NYSE: GTN)’s new streaming experience, which included consolidating 1,300 digital touchpoint, including 163 websites, 326 mobile apps and 815 CTV apps onto a single data-driven platform powered by Quickplay and Google Cloud (NASDAQ: GOOGL). The system now manages 269 live channels and 123 FAST channels across Amazon Prime Video, Roku (NASDAQ: ROKU), Samsung TV Plus, Vizio and Fire TV, delivering hyper-local content to 37% of U.S. TV households.

Quickplay also announced the cloud-native transformation of Television New Zealand’s streaming platform, TVNZ+. Completed in 12 months, Quickplay replaced a fragmented ecosystem of six+ vendors across UI/UX, content management, video processing, advertising and analytics with a single, unified platform. The team at TVNZ also named Amazon Web Services (NASDAQ: AMZN) as its preferred cloud platform for the transformation, further increasing efficiencies and lowering costs by consolidating onto a single cloud vendor. The technology overhaul will drive unprecedented innovation and efficiency for TVNZ, New Zealand’s state-owned broadcaster, which reaches over two million New Zealanders daily.

“Broadcasters don’t need another point solution. They need an AI-enabled operating system that turns content into measurable outcomes,” said Paul Pastor, Co-Founder and Chief Business Officer at Quickplay. “At NAB, we’re showing how to bring cultural moments, content catalogs and distribution workflows together to create engaging and revenue opportunities in real time.”

In partnership with Caretta Research, Quickplay will also release new research, “The Broadcaster Revolution Will Not Be Televised,” highlighting a critical bottleneck in the industry: North American broadcasters spend approximately 75% of their time on technical workflows, leaving only 25% for content creation. The report outlines how automated workflows and unified operations can help broadcasters meet the growing demand for short-form video while maintaining editorial quality and accelerating monetization.

Additionally, Quickplay has joined NAB PILOT, a coalition of innovators, educators and advocates dedicated to advancing broadcast technologies and cultivating new media opportunities. As a part of this group, Quickplay is expanding its collaboration with broadcasters to redefine how value is derived from content.

Quickplay at NAB 2026:

Paul Pastor, Jordan Bartow, and Peter Tanner of Quickplay, and Albert Lai of Google Cloud will be on a panel: An Audience of One: How Gray Media + Google Cloud + Quickplay are Using AI and Cloud OTT to Personalize Local News, Enable User-Generated Content, Engage Younger Viewers, and Unlock New Revenue for Broadcasters. Central Hall Stage, Monday, April 20 at 4:15p PTAt the NAB Streaming Summit TVNZ’s Chief Digital Officer, Rob Hutchinson, will present “How TVNZ+ Built a Co-Viewing Product” on Tuesday, April 21 at 11:30 AM PT.Live Demonstrations: See Quickplay technology in action at AWS, GCP, TwelveLabs and the Encore. To book a meeting, email hello@quickplay.com

About Quickplay:
Quickplay is the Content to Value Operating System for media and entertainment, connecting every stage of the content lifecycle, from creation to monetization. By applying intelligence where it drives measurable impact, Quickplay enables broadcasters, sports operators, streamers, and creators to turn their catalogs into revenue. Quickplay powers 2.5 billion streaming minutes per month, with 5 billion ad impressions served and 99.999% streaming uptime. 

Quickplay was founded by four innovators with deep media and entertainment technology experience from AT&T, McKinsey and Company, The Walt Disney Company, and Warner Bros. Discovery. Headquartered in Toronto, the company has offices in Los Angeles, San Diego, Chennai, and throughout Europe. For more information, visit quickplay.com.

Media Contact:
Breakaway Communications for Quickplay
quickplaypr@breakawaycom.com
+1 917-731-5734

View original content to download multimedia:https://www.prnewswire.com/news-releases/quickplays-triple-play-of-new-customers-products-and-partnerships-set-to-dominate-nab-2026-302746637.html

SOURCE Quickplay

Continue Reading

Trending