IT Asset Management software Market Driven by the Need for Managing Increasing IT Assets proactively

The IT Asset Management (ITAM) software market is estimated to be valued at US$ 7957.53 Bn in 2024 and is expected to exhibit a CAGR of 25.% over the forecast period 2024 to 2031. ITAM software assists organizations in tracking, controlling, and optimizing their IT assets in order to reduce licensing overspend, ensure regulatory and internal policy compliance, and enable an optimized and secure environment. ITAM provides capabilities like asset discovery, software license management, contract management and optimization, and flexible reporting, thus enabling IT departments to have full visibility and governance over their software assets, deployment, utilization, and compliance. The growing demand for managing increasing IT assets proactively and efficiently to reduce overall IT costs is a key driver for the adoption of ITAM software globally.