India License Management Market is growing owning to increasing adoption of license
management in banking, financial services, and insurance along with rising
government regulations to eliminate the risk of piracy or unlicensed management
software. The increasing cyber-attacks across various end-use industries have
led to an increased focus on license management to overcome the situation and
eliminate the risk of pirated software. Moreover, rising need of reducing
software piracy and increasing demand to optimize software investments have
further boosted the demand for License Management.
Software license management is a system
that is used by companies across a wide range of sectors to manage, regulate,
and optimize software used internally. By automating software license
entitlement and delivery, licensing management solutions help businesses make
the most of their software spending.
Surging demand for safe
and secure control distribution systems and advanced monitoring units is
increasing the capability for license management. Many enterprises are adopting
license management as a cost-effective solution. Moreover, the market is
anticipated to be driven by rising demand for digital age networking, which
enables businesses to progress towards digital transformation and produce new
business outcomes by utilizing new digital age technologies like the internet
of things (IoT), cloud computing, and artificial intelligence (AI) and thus
relying on different software are driving the market. Additionally, software
providers are increasingly auditing end-user software licenses to verify
licensing compliance. Organization by comparing the number of software licenses
purchased with the quantity presently are installed on the machines, which is expected to boost requirement of the India License
Management Market in the forecast period.
License management is a potent tool that
an organization employs to document and control its software licenses to ensure
compliance with the software developer’s license. It offers total business
software usage transparency, that can optimize all licenses, reduce costs, and
protect upcoming software investments. When a business buys, installs, or
accesses software, a licensing agreement is formed between the second party and
with the product's creator. These end-user license agreements (EULAs), which
specify the licensor's rights, set forth the terms under which the product can be
used, and are subjective to the organization to risks such as employee liabilities,
data security violations, unanticipated costs associated with non-compliance,
and unfavorable legal positions.
The
Growing Adoption of License Management in Banking, Financial Services, and Insurance
The banking, financial services, and insurance
industries have a high adoption rate for license management software because
they have strict internal and external service level requirements for their IT
infrastructure. An organization must make sure that the end-user applications
and business services adhere to the standards set out by the financial
institutions to give their clients, greater security because this market sector
interacts mostly with end users, who generate money for businesses. The number
of cyberattacks on the BFSI industry is 300 times higher than that of other
organizations. Security software that is constantly scanning for
vulnerabilities is essential. Thus, growing adoption of license management in banking,
financial services, and insurance has anticipated the demand of license
management in the Indian market.
Increasing
Demand to Optimize Software Investments
Optimization is crucial to the expanding
trend as more businesses adopt cloud computing and go digital at every
opportunity. Businesses are focusing on lowering operating expenses due to the
ongoing erosion of their profit margins. Using licensing management software is
an additional cost-saving strategy. Companies are always looking for strategies
to increase software usage while reducing the losses brought on by licensing
non-compliance. Moreover, licensing management enables organizations to control
all contracts, agreements, license entitlements, and software inventories from
a single location. By efficiently organizing and storing software agreements
with licensing management software, businesses may safeguard themselves from
unanticipated license payments and fines. The optimization of software’s had
provided an opportunity for companies to reduce the cost of licensing software
through a variety of means, including fewer license purchases, avoiding fines
for non-compliance, lowering renewals by doing away with shelfware maintenance,
and optimizing volume discounts. Hence, increasing demand to optimize software
investments are attributing the growth of India License Management Market.
Growing
Requirement for Audit-readiness among Organizations
One approach for assessing audit
readiness is to conduct an enterprise-wide count assessment of the number of
deployed software instances in the IT environment that correspond to the
approved software instances being managed. Counts of recognized software
instances can be compared to software licensing data in the licenses program. Businesses
that have a strategy in place for managing their software assets prosper as
software audits increase in frequency. Due to factors including cost hikes,
fines, and the possibility for compliance issues, the finest software license
management solutions are thus required. The software licensing management tool
conduct influencing studies to establish how many software licenses the user
needs to make sure the license is used properly.
Therefore, growing requirement for audit-readiness among organizations are
propelling the growth of India License Management Market in the forecasting
period.
Government Initiative Proliferating the License Management
The government of India has started
several initiatives and regulations for reducing and eliminating the presence
of pirated software in the market. Government strict rules and regulations are
one of the key fundamental factors for the growth in the license management
market. Moreover, software providers are facing a huge substation in revenue
due to piracy. As pirated software proliferate the risk of cybersecurity
attacks and malware which is significant for any individual and organizations.
Most of the enterprises such as IT, media & entertainment and manufacturing
industries are worst affected. For instance, recently the Israel based
diamond technology company filed the case, under which, raids were conducted where
five companies in Gujarat have been found guilty of copyright infringement and
unlawful use of a software’s pirated version. The court ordered the removal of
the pirated software which was widely used in the industry. Furthermore, ministry of Communications, department of telecommunications (DoT)
has simplified the licensing activities by implementing paperless online
license management system and integrated functions related to license and registration.
The adoption of smart license management is enhancing uptime making modern
businesses more competitive and limiting intervention cost with advanced
programming of load cycle and improve sustainable capabilities. Therefore, rising
government initiative has led to the growth of License Management in the Indian
market.
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Recent Development
· On May 11, 2022, Ankura Consulting, a
software asset management service provider, announced the launch of software
license compliance and cost optimization tool. The addition will provide the
firm with an increasing complexity of client’s software infrastructure and
inventory using innovative digital technology.
· On May 27, 2022, Oracle cloud
infrastructure (OCI) announced the launch of license manager services that
streamlines the process of utilizing and tracking the cloud-compatible oracle
licenses. License Manager is a free, opt-in service that makes it easier to
Bring Your Own License (BYOL), eliminates overhead for individuals while enabling easy tracking of license utilization.
· On Feb 08, 2022, Quest Software, a global
systems management, data protection and security software provider announced
the enhancements to its On Demand License Management solution, offering
customers direct actionable insights to ensure optimal license expenditure on
Microsoft 365 and Office 365 licenses.
Market Segmentation
India License Management Market is
segmented into component, deployment type, application area, end-user, and
region. Based on component, the market is bifurcated into software and service.
The service market is further segmented into professional services and managed services.
Based on deployment type, the market is segmented into clouds and on-premises.
Based on application area, the market is categorized into audit services,
advisory services, compliance management, license entitlement &
optimization, operations & analytics, software inventory management, usage
monitoring, and others. Based on end-user, the market is bifurcated into information
technology, BFSI, telecom, retail & consumer goods, healthcare, media &
entertainment, manufacturing, and others.
Market Player
IBM-Aspera Technologies, Oracle India
Corporation, Cherwell Software LLC, Flexera Software LLC, DXC Technology
Corporation, Quest Software Private Limited, Snow Software AB, Gemalto Digital Security Private Limited, ServiceNow Inc., USU Software AG are among the major
players that are driving the growth of the India License Management market.
Attribute
|
Details
|
Base Year
|
2023
|
Historic Data
|
2019 –
2022
|
Estimated Year
|
2024
|
Forecast Period
|
2025
– 2029
|
Quantitative Units
|
Revenue in USD Million and CAGR for 2019-2023 and 2024-2029
|
Report coverage
|
Revenue
forecast, company share, growth factors, and trends
|
Segments covered
|
By Component
By Deployment Type
By Application Area
By End-User
|
Country scope
|
India
|
Region scope
|
East, West, North and South
|
Key companies profiled
|
IBM-Aspera
Technologies, Oracle India Corporation, Cherwell Software LLC, Flexera
Software LLC, DXC Technology Corporation, Quest Software Private Limited,
Snow Software AB, Gemalto Digital Security Private Limited, ServiceNow Inc.
and USU Software AG.
|
Customization scope
|
10% free report customization with purchase. Addition or
alteration to country, regional & segment scope.
|
Pricing and purchase options
|
Avail
customized purchase options to meet your exact research needs. Explore purchase options
|
Delivery Format
|
PDF
and Excel through Email (We can also provide the editable version of the
report in PPT/Word format on special request)
|
Report Scope:
In this report, the India License Management market has
been segmented into the following categories, in addition to the industry
trends which have also been detailed below:
·
India License Management Market,
By Component:
o Software
o Services
§
Professional
Services
·
Deployment
and Integration
·
Consulting
·
Support
and Maintenance
§
Managed Services
·
India License Management Market,
By Deployment Type:
o Cloud
o On-Premises
·
India License Management Market, By Application Area:
o Audit Services
o Advisory
Services
o Compliance Management
o License Entitlement &
Optimization
o Operations & Analytics
o Software Inventory Management
o Usage Monitoring
o Others
·
India License Management Market, By End-User:
o Information
Technology
o BFSI
o Telecom
o Retail & Consumer Goods
o Healthcare
o Media & Entertainment
o Manufacturing
o Others
·
India License Management Market, By Region:
o East
o West
o North
o South
Competitive Landscape
Company
Profiles: Detailed
analysis of the major companies present in the India License Management market.
Available Customizations:
India License
Management market report with the given market data, Tech
Sci Research offers customizations according to a company's specific needs. The
following customization options are available for the report:
Company Information
- Detailed analysis and profiling of additional market players (up to
five).
The India License Management market is an upcoming report to be released soon. If you wish an early delivery
of this report or want to confirm the date of release, please contact us at [email protected]