Global Fixed Asset Software Market Overview:
The process of tracking assets through their different life stages, from acquisition to disposal, is automated by fixed asset software. A corporation can increase efficiency and financial strength by keeping its current assets and preventing unneeded equipment acquisitions and upgrades. Organizations can use an asset management system to track and monitor fixed assets, oversee equipment and machinery in multiple locations, reduce maintenance costs, improve operational efficiency, and maintain a record of retired, sold, stolen, or lost assets. Rising demand to maintain and track fixed assets for companies, and the growing need for solutions to manage the day-to-day tasks of the business/firms will contribute to the market's growth.
Attributes | Details |
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Study Period | 2017-2027 |
Base Year | 2021 |
Forecast Period | 2022-2027 |
Historical Period | 2017-2021 |
Unit | Value (USD Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
Influencing Trend:
Integration of Software with Salesforce, The emergence of Industry 4.0 in the Manufacturing Sector and The growing preference among businesses for cloud-based deployment over on-premises
Market Growth Drivers:
Rising Demand to Maintain and Track Fixed Assets for Companies and Growing Need for Solution to Manage the Day-To-Day Tasks of the Business/Firms
Challenges:
Tracking of Assets, Growing Cost Associated With the Maintenance of the On-Premises Infrastructure, Lack of Skilled Professionals and Firms with Lower Capital Expenditure Cannot Afford Expensive Software
Restraints:
Data Security and Lack of Awareness of Fixed Asset Software
Opportunities:
The Advent of Big Data and Analytics Will Grow the Adoption of Fixed Asset Management Software and The emergence of IoT and M2M
Competitive Landscape:
Global Fixed Asset Software is a fragmented market due to the presence of various players. The players are focusing on investing more in technological advancement. These will enhance their market presence. The companies are also planning strategic activities like partnerships, mergers, and acquisitions which will help them to sustain in the market and maintain their competitive edge.
Some of the key players profiled in the report are Oracle (United States), Microsoft (United States), Cougar Mountain Software (United States), The Sage Group plc (United States), Intellitek System (United States), Unit4 (Netherlands), Newgen Software Technologies Limited (India), IBM (United Kingdom), Aite Matrix (United States), Tracet (India), Aveva (United Kingdom), Mainsaver (United States), Infor (United States), SAP (Germany) and MRI Software LLC (United States). Considering Market by Components, the sub-segment i.e. Software will boost the Fixed Asset Software market. Considering Market by Industry Vertical, the sub-segment i.e. Manufacturing will boost the Fixed Asset Software market. Considering Market by End-User, the sub-segment i.e. Manufacturing will boost the Fixed Asset Software market. Considering Market by Deployment, the sub-segment i.e. Cloud will boost the Fixed Asset Software market. Considering Market by Organisation Size, the sub-segment i.e. Small to Midsize Companies will boost the Fixed Asset Software market.
Latest Market Insights:
In May 2022, Oracle declared that it had signed a contract to acquire Adi Insights. Among those who offer personnel management solutions, Adi Insights is a market leader. The acquisition will enable SuitePeople, NetSuite's human resource management platform, to manage overtime, capture time, estimate demand, and schedule shifts.
In August 2022, Two developments are about to significantly alter the primarily budget-based asset management strategy used by local authorities in the UK. The first is the transition to a comprehensive, risk-based asset management approach that highly prioritizes environmental concerns. The second is the accessibility of more sophisticated asset-management tools with data-driven forecasting abilities.
What Can be Explored with the Fixed Asset Software Market Study
Gain Market Understanding
Identify Growth Opportunities
Analyze and Measure the Global Fixed Asset Software Market by Identifying Investment across various Industry Verticals
Understand the Trends that will drive Future Changes in Fixed Asset Software
Understand the Competitive Scenario
- Track Right Markets
- Identify the Right Verticals
Research Methodology:
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Fixed Asset Software market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Fixed Asset Software market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes Fixed Asset Software Developers, Industry Verticals, Regulatory Bodies, Potential Investors, Research and Development Institutes and Others.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.