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Top 3 Trends Impacting the Global IT Asset Management Market Through 2020, by TechnavioTechnavio's latest report on the global IT asset management (ITAM) market provides an analysis on the most important trends expected to impact the market outlook from 2016-2020. Technavio defines an emerging trend as a factor that has the potential to significantly impact the market and contribute to its growth or decline. Amrita Choudhury, a lead analyst from Technavio, specializing in research on enterprise application sector, says, "ITAM software allows organizations to efficiently manage their computer hardware and software inventories, correlate assets to contracts and financial records such as software licenses and equipment leases, and detect and prevent IT and regulatory risks to their various technology components. The software ensures that all of the IT systems in the organization are operating efficiently." Currently, the US is the market leader, and the country will continue to be dominant during the forecast period because ITAM software and services delivered as a service are becoming popular among enterprises there. It facilitates anonymized aggregation of data and control of IT assets in the long term. New technologies such as ITAM business intelligence will positively influence the growth of ITAM software market because of benefits such as the transparency of asset information to top management, precise decision-making, and alerts to prevent compliance issues beforehand. The top three emerging trends driving the global ITAM market according to Technavio ICT research analysts are:
Increased adoption of hybrid deployment model The hybrid deployment model for ITAM software is gaining pace over the cloud-based model. In order to overcome the shortcomings of both on-premises and SaaS (News - Alert) models, some customers prefer a hybrid model. Hybrid models are flexible and offer customization to suit the needs of customers. As this model provides automatic upgrades nd the ability to handle complex IT transactions, it is also one of the most advanced models of deployment. Firms that want to increase their ITAM capabilities without adding servers or related infrastructure are interested in hybrid models. However, there are also some concerns regarding this model. Instead of giving the best of both on-premises and SaaS models, it can result in creating unnecessary complications for the firm's IT operations. Need for improved IT asset life cycle visibility For a business to maintain its standards and improve its productivity and consistency, it is essential to control the IT asset life cycle. Thus, organizations developed an interest in acquiring visibility of the life cycles of their IT assets from the perspectives of both IT departments and business users. ITAM software helps monitor, detect, and identify uncharacteristic phases of the asset life cycle across the hardware and software infrastructure in an organization. However, some vendors specialize in providing ITAM solutions that cater solely to the business users' perspective by adding differentiated features, which add value to business productivity. These solutions follow a distinctive approach when tackling issues related to IT assets as compared to solutions offered by other ITAM vendors. These businesses offer user-centric solutions that enable organizations to monitor different phases of the IT asset life cycle across the entire transaction flow. Bundled offerings specific to enterprise requirements The market is witnessing an increase in the development of ITAM solutions for a specific requirement, according to the demand from end-users. Market vendors have started providing requirement-specific ITAM software in accordance with the specifications of an individual industry. This is because every industry has different asset utilization needs. The development of application-specific ITAM software results in enhanced productivity and increased customer satisfaction. Some vendors like IBM, CA Technologies (News - Alert), and Oracle are bundling the applications based on features specific to a particular requirement. In addition, because of the complex demands from customers, many top-tier vendors include vertical-specific solutions in their portfolio by developing industry-specific applications or by acquiring application-specific vendors. "The trend of developing application-specific solutions in the global ITAM market will enhance its growth during the forecast period," says Amrita. Browse Related Reports:
Do you need a report on a market in a specific geographical cluster or country but can't find what you're looking for? Don't worry, Technavio also takes client requests. Please contact [email protected] with your requirements and our analysts will be happy to create a customized report just for you. About Technavio Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies. Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users. If you are interested in more information, please contact our media team at [email protected].
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