- Software licensing is an agreement between a user & software vendor to describe the responsibilities of both the parties; it may also levy restrictions related to the usage of the software. Software licenses typically provide end-users with the right to one or more software copies without violating copyrights. Software licensing agreements mainly include warranties & disclaimers, and the limitations of liability of the software if the software/platform or its uses infringe the intellectual property rights.
- Enterprises follow software licensing methods including end-user license agreements (EULA) in which vendors can easily license their software. The second method is the white labeling software licensing approach in which a software/product is created by one company and later rebranded by some other companies.
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Increasingly stringent rules & regulation regarding software or platform: Prominent driving factor of the software licensing market
- Software/ platform is becoming progressively important across various industries including healthcare, automotive, and telecommunication. Software is becoming more and more significant for medical devices under the relevant rules & regulations. According to the Therapeutic Goods Administration (TGA) Australia, definition of a medical device includes software and mobile applications as well. For instance:
- Software as a Medical Device (SaMD): The therapeutic goods legislation (Australia) covers manufacturers of SaMD products to obtain “conformity assessment certification” to permit inclusion in the Australian Register of Therapeutic Goods (ARTG)
- Thus, the increasingly stringent rules & regulations regarding software or a platform is augmenting the growth of the software licensing market worldwide.
Increasing usage of open-source software/platform expected to significantly hamper the software licensing market
- Increasing demand for open-source software/platform is negatively impacting the software licensing market. Open source platform is a platform that anybody can review, alter, and enhance with a source code. Open source platforms usually are available free of cost and do not require the user to pay for any further copy. This platform/software is reliable due to two main reasons: open source platforms are mainly developed by talented & skilled professionals who develop high-quality programs. Secondly, the platforms are worked on by many people who monitor the bugs and also fix such defects within a short period of time. Therefore, growing demand for open-source platform/software is expected to significantly hamper the software licensing market globally.
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