Software Licensing Market - By Licensing Type (Proprietary license, GNU General Public License, End User License Agreement, Workstation licenses, Concurrent use license), By Deployment (Cloud-Based, On-Premise), By End-User (Government and Defense, BFSI, Education and Research, Hospitals) - Industry Forecast 2027
|ID: VPR/ICT/1006||Publishing Year: September 2021||Pages: 132||Format:|
Software Licencing Market Overview:
The Software Licencing Market is projected to grow from USD 9.7 billion in 2020 to reach USD 21 billion by 2027; it is expected to grow at a CAGR of 11.6% from 2020 to 2027.
By giving information on the real data consumption of the software, Licence Solutions protect an organisation from licence compliance audits. This procedure enables businesses to avoid potential dangers while also limiting unneeded software vendor costs. These solutions also improve operational transparency, which helps to avoid the expenses of litigation connected with software exploitation.
The Software Licencing Market is driven by an increase in audit activities and licence compliance audits, as well as a growing need to combat piracy. However, the market's growth is hampered by the management of multiple licencing schemes and a lack of internal cross-functional coordination. The rise of cloud governance presents a significant market expansion opportunity.
- Reprise Software
- Gemalto NV
- Snow Software
- IMB Corporation
- WIBU-SYSTEMS USA Inc.
- Agilis Management, Inc.
- Inish Technology Ventures Ltd.
- Persistent Security, LLC
Various sectors and enterprises have come to a halt as a result of the rapid emergence of the COVID-19 pandemic. There has been a significant loss of life, as well as a significant economic downturn. Because of the epidemic, demand and supply networks have been affected. The Software Licencing Sector, like other global markets such as manufacturing, finance, and tourism, has been heavily hit. However, it is anticipated that the market will recover quickly following the pandemic.
Various reasons are driving the Software Licencing Market Growth, including an increase in the demand for piracy reduction and an increase in audit activities. Optimizing the requirements of a licence compliance audit is another important aspect driving the market forward.
The expansion of the market provides a fantastic opportunity for the Software Licencing Industry to develop. An growth in cloud governance may create a chance for the market to expand, which will in turn present a significant potential for the Software Licencing Business.
Internal cross-functional collaboration may be a major stumbling block to the Software Licencing Market Expansion. The maintenance of multiple licence models is another important constraining issue that might stifle market growth.
Along with the drivers, the market may face a number of obstacles throughout the projected period. The surge in demand for open-source platforms may have a detrimental impact on the Software Licencing Industry and so pose a threat to the Software Licencing Market.
The Market is divided into two types of deployments: in cloud and on premise.
The Market is divided into SMEs and large companies based on the size of the company.
The Market is split into IT and telecom, BFSI, manufacturing, healthcare, retail, and others based on industry vertical.
Because many companies are shifting toward software-based selling, which is significantly driving the market in the region, North America is expected to account for a large share of the Global Software Licencing Market during the forecast period, indicating potential growth of the Software Licencing Market. From 2019 to 2027, Europe is expected to be the second largest market for software Licencing. Anti-counterfeiting and anti-piracy activities are expected to drive the region's Software Licencing Sector.
Due to the growing transition from homegrown to commercial SLM systems, Asia Pacific is predicted to be a quickly expanding region of the Software Licencing Market during the forecast period, which is expected to increase the usage of software licencing in the region.
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