License management
is a software which helps enterprises manage and archive products to
ensure compliance with end-user license agreements. License management
software also helps businesses to monitor and track products and its
licenses and to prevent illegal usage. License management tools also
enable organizations to reduce costs, complexity and risks associated
with software assets and licensing. Another benefit offered by these
tools is reduction of overspending on software entitlements and cloud
resources.
Several companies are offering integrated
license management solutions which help businesses to engage with their
customers more effectively and efficiently. License management also
helps the enterprises to retain their existing customers. These software
also offer a wide range of features such as automated entitlement and
software license management, electronic software delivery and targeted
end-user communication. With rapid technological developments, companies
have started to offer centralized license management for remote
business operations and statistical analysis & reports on customer
activation and usage.
Growing demand for effective and
efficient license management software across large enterprises and small
& medium enterprises (SME’s) is mainly driving the license
management market. Increasing illegal use of software products and
piracy is supplementing the growth of license management market.
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In addition, enterprises are emphasizing
on managing their software assets and reducing maintenance costs
associated with licensing which is leading towards the increasing
penetration of license management software. Apart from this, businesses
are more inclined towards optimized software investments in business
processes and high return on investments from their operations. This is
also likely to have a positive impact on growth of license management
market.
However, low penetration of license
management software and complexities involved in migrating to license
management software is anticipated to restrain the growth of the market.
In addition, rising security concerns and cyber-attacks is one of the
major barriers for large scale adoption of license management software.
Though, growing adoption of cloud-based technology and virtualization of
business processes are projected to offer prominent opportunities for
license management market in the near term.
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