Industry Background:
In today’s world progressively dynamic IT environments, the ability to effectively access, manage, and secure software and hardware assets are more than important than ever. Likewise, enhanced asset management practices allowed the various organizations from different industries to contrast the current and future costs of assets and based on these predictions, improve operations productivity and cybersecurity. The key drivers contributing to the growth of the managed services are the rise in digital information, the need to secure it, increasing trend of bringing your own devices, flexibility to match custom requirements, continuous upsurge in dependency over heterogeneous networks, and persistent rise in the complexity of technological solutions.
Attributes | Details |
---|
Study Period | 2018-2028 |
Base Year | 2022 |
High Growth Market | Asia Pacific |
Unit | Value (USD Million) |
Key Companies Profiled | Zebra Technologies Corporation (United States), Stanley Black And Decker, Inc.(United States), Honeywell International, Inc. (United States), Datalogic S.P.A (Italy), Trimble Inc. (United States), Ubisense Group Plc. (United Kingdom), Mojix, Inc. (United States) and Impinj, Inc. (United States) |
According to AMA, the market for Asset Tracking Software is expected to register a CAGR of 12.2% during the forecast period to 2028. This growth is primarily driven by Fixed Asset Management Software automates the different stages of the asset lifecycle, and helps in improving efficiency while optimizing capital expenditure..
Globally, a noticeable market trend is evident Automation coupled with increased adoption of IoT-based assets across industries such as Manufacturing, Oil & Gas, Energy, Power, Transportation & Logistics, Healthcare, and Construction, amongst others The Internet Software & Services sector in the North America region has been increasing at a sustainable rate, and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Players, such as Zebra Technologies Corporation (United States), Stanley Black And Decker, Inc.(United States), Honeywell International, Inc. (United States), Datalogic S.P.A (Italy), Trimble Inc. (United States), Ubisense Group Plc. (United Kingdom), Mojix, Inc. (United States) and Impinj, Inc. (United States), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
June 2019 - Comparesoft, an AI-Driven Software Recommender, renewed its referral partnership with FMIS, which provides asset management solutions in a broad range of industries, including the public sector, manufacturing, health, education, and non-profit sectors. This will help them further engage with businesses, to create further business opportunities.
In April 2023, Trimble launched a new enterprise asset management solution designed for power utilities around the world to improve service reliability and operational success. Built on Trimble's industry-leading Cityworks enterprise asset management platform, Trimble Unity® AMS enables utilities to manage the full life cycle of their asset infrastructure, from permitting and construction to operation, maintenance, and replacement.
Influencing Trend:
Automation coupled with increased adoption of IoT-based assets across industries such as Manufacturing, Oil & Gas, Energy, Power, Transportation & Logistics, Healthcare, and Construction, amongst others
Market Growth Drivers:
Fixed Asset Management Software automates the different stages of the asset lifecycle, and helps in improving efficiency while optimizing capital expenditure.
Challenges:
An increasing number of cyber attacks and security concerns
Restraints:
Technological complexities associated with Asset Tracking Software
Opportunities:
Technological advancements across industries, such as Artificial Intelligence, Cloud Computing, Machine Learning, and many more
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Players landscape impacting the growth of the market. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints in Asset Tracking Software Market
- Analysis about New Entrants in Asset Tracking Software Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
- An Unbiased Perspective towards Market Performance & Indicators
Against this Challenging Backdrop, Asset Tracking Software Study Sheds Light on
The Asset Tracking Software Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Asset Tracking Software industry Players. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Asset Tracking Software industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Players can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.