Software Licensing Market Latest Trends And Key Drivers Supporting Growth

Global Software Licensing Market – Introduction

• 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.

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