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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

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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.

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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. 

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 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.

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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.

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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/

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SOURCE Technavio

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Technology

Laifen Expands U.S. Retail Footprint with Costco Launch of Best-Selling SE Hair Dryer

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60 minutes ago

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July 18, 2026

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Starting July 18, Costco Members Can Shop Laifen’s Award-Winning Hair Dryer in Select Warehouse Locations Across the U.S.

NEW YORK, July 18, 2026 /PRNewswire/ — Laifen, ranked the world’s No.1 high-speed hair dryer brand, today announced the launch of its best-selling SE High-Speed Hair Dryer at select Costco warehouse locations, marking the brand’s largest U.S. retail expansion to date and bringing its award-winning haircare technology to Costco members across select U.S. markets.

The launch brings Laifen’s award-winning haircare technology to Costco, making it easier for consumers to experience the brand through one of the nation’s leading membership retailers. Laifen joins Costco’s growing portfolio of premium beauty and personal care brands. The initial rollout includes select Costco warehouse locations across the United States, with a strong presence across the Western U.S., including California, the Pacific Northwest and the Southwest.

Costco’s reputation for quality and its highly selective merchandising approach make this partnership especially meaningful. The Costco launch reflects Laifen’s continued expansion beyond direct-to-consumer channels as the brand accelerates its U.S. omnichannel retail strategy. “Costco represents an important milestone in our U.S. retail strategy,” said Romeo, General Manager of International Business of Laifen. “As more consumers seek salon-quality performance at an accessible price, we’re excited to make Laifen available through one of America’s most trusted retailers.”

Engineered to deliver professional-level performance in a sleek, lightweight design, the Laifen SE is powered by the brand’s proprietary high-speed brushless motor, delivering fast drying, reduced heat damage and smoother styling. An intelligent temperature control system continuously monitors airflow to help minimize frizz while protecting hair from excessive heat.

The Costco launch represents the next phase of Laifen’s U.S. retail expansion as the brand continues to grow beyond its direct-to-consumer and online channels. By expanding into one of the nation’s most trusted retailers, Laifen aims to broaden access to its category-disrupting haircare solutions while advancing its mission to bring more thoughtful design and everyday excellence into more homes.

The Laifen SE High-Speed Hair Dryer in White will be available at select Costco locations, while Costco.com shoppers will have access to additional color options including Purple and Pink, alongside the White model.

For more information on Laifen, please visit LaifenTech.com.

About Laifen: 

Founded in 2019, Laifen is a global personal care technology brand combining high-performance engineering with modern design across hair care, oral care, and grooming categories. Ranked the world’s No. 1 high-speed hair dryer brand by Euromonitor International, Laifen first gained recognition for its self-developed 110,000 RPM high-speed brushless motor, the proprietary technology behind its award-winning hair dryers.

Building on this innovation, Laifen has expanded its portfolio to include electric toothbrushes and shavers, delivering premium technology and elevated everyday experiences to consumers worldwide. Today, Laifen products and accessories are used by over 22 million households across more than 60 countries, supported by more than 600 patents and recognized with over 50 international design and innovation awards. Driven by continuous technological breakthroughs, Laifen is committed to making cutting-edge personal care technology more accessible to consumers around the world.

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SOURCE Laifen

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Technology

Pillsbury Notice of Data Breach

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4 hours ago

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July 18, 2026

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NEW YORK, July 18, 2026 /PRNewswire/ — Pillsbury Winthrop Shaw Pittman LLP (“Pillsbury”) was among many law firms targeted by sophisticated social engineering attempts in an incident last year. While the firm quickly detected and blocked the activity, an unauthorized actor was able to access some of the firm’s documents during a short window of time. Pillsbury notified any impacted clients last year and undertook a detailed process to review the accessed documents for personal information. Pillsbury then began notifying individuals whose personal information was affected. That process is now complete, and today, Pillsbury is publishing substitute notice as a final step.

For more information, please visit the substitute notice on our website at https://www.pillsburylaw.com/en/breach-notice.html. 

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SOURCE Pillsbury Winthrop Shaw Pittman LLP

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From Remote Racing to Embodied AI: Fibocom and Intedigo Bring 5G Bidirectional Data Transmission into Real-World Applications

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5 hours ago

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July 18, 2026

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SHANGHAI, July 18, 2026 /PRNewswire/ — From July 17 to 20, Fibocom and Intedigo will jointly present a cross-regional, beyond-visual-line-of-sight (BVLOS) teleoperation demonstration at Booth H3-C408 during the World Artificial Intelligence Conference (WAIC) 2026. Visitors will be able to enter a remote driving cockpit and control a real race car located at HURA PARK in Jiading, Shanghai, steering, accelerating, and braking in real time while experiencing how 5G connectivity enables remote operation.

More than an immersive driving experience, the demonstration provides a live validation of 5G bidirectional data transmission for embodied AI teleoperation. The vehicle continuously sends live track video, vehicle status, and operating data to the remote cockpit, while control commands are transmitted back to the vehicle, creating a closed-loop teleoperation system. Stable, low-latency, and highly reliable connectivity is essential for high-dynamic maneuvers such as high-speed cornering, precision braking, and continuous lane changes.

Developed by Intedigo, the remote driving system connects a real race car with an immersive remote driving cockpit. It supports 1080p@60Hz video transmission, glass-to-glass (G2G) video latency of less than 80 ms, and control latency of less than 10 ms. The demanding racing environment magnifies differences in video continuity and control responsiveness, making communications performance directly perceptible, measurable, and verifiable.

At the joint demonstration, Fibocom’s FM160 5G module provides cellular connectivity for the system. Powered by the Qualcomm Snapdragon™ X62 5G Modem-RF System, the FM160 supports SA and NSA network architectures as well as 3GPP Release 16. On the downlink, it supports NR Carrier Aggregation (NR CA) with bandwidth of up to 120 MHz, delivering peak speeds of up to 3.5 Gbps in NSA mode and 2.5 Gbps in SA mode. On the uplink, it supports UL MIMO and delivers peak speeds of up to 900 Mbps in SA mode. These capabilities support the continuous transmission of HD video and vehicle status data, along with reliable delivery of control commands.

As embodied AI moves into factories, data centers, logistics operations, and industrial parks, robots are becoming increasingly capable of performing tasks autonomously. Yet complex environments, unexpected events, and edge cases still require Human-in-the-Loop (HITL) remote intervention to help ensure safe and reliable operation.

Daniel Liu, CEO of Intedigo, said:

“5G represents the pinnacle of human communications and the starting point of machine communications. In the past, communications connected people to people; in the future, they will connect people to robots and robots to robots. Remote racing is simply the easiest entry point for people to understand this concept. What we are truly validating is a communications system capable of supporting remote collaboration for embodied AI. HURA makes low-latency remote driving a tangible experience, while RoBOX extends this capability to robots and a broader range of intelligent terminals. Together with Fibocom, we hope to enable more machines to receive remote assistance whenever needed while remaining continuously connected and operating reliably.”

Simon Tao, VP of Wireless Solutions Business Group and General Manager of MBB BU at Fibocom, said:

“As embodied AI enters real-world industrial environments, reliable connectivity will become the foundation for telemetry feedback, remote control and operational management. Fibocom’s 5G solutions, represented by FM160, provide the cellular connectivity required for continuous on-site data transmission and reliable control command delivery. Fibocom will continue collaborating with ecosystem partners such as Intedigo to bring cellular connectivity to more robots, autonomous machines and mobile intelligent terminals, enabling embodied AI systems to stay continuously connected and respond reliably in real-world applications.”

From remote race cars to robots, unmanned equipment, and mobile intelligent terminals, 5G is evolving from connecting people to connecting machines. This joint demonstration makes the capabilities of 5G bidirectional data transmission directly perceptible, experiential, and verifiable, helping pave the way for embodied AI to scale across real-world applications.
 

About Fibocom

Fibocom, founded in 1999, is China’s first wireless communication module company listed on both the A-share and H-share markets (300638.SZ, 0638.HK). As a global leading provider of wireless communication modules and AI solutions, Fibocom leverages wireless communication and artificial intelligence as its core technologies to provide integrated hardware and software solutions that empower industry applications. These solutions accelerate the transformation from “Connect Everything” to “Intelligent Connectivity” across diverse industries.

Fibocom’s one-stop solutions encompass cellular communication, AI, automotive, and GNSS modules, as well as AI toolchains, supporting industry-side and mainstream large model integration, and providing AI Agent, global connectivity, and cloud services, driving the digital intelligence upgrades in industries such as robotics, consumer electronics, low-altitude economy, intelligent transportation, smart retail, and smart energy.

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SOURCE Fibocom Wireless Inc.

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