Fixed Asset Management Software Market Scope
Fixed asset management software is a process deployed by businessmen to organize, store, retrieve and manage rights. The expansion of an infrastructure to preserve and manage assets allows end-users to identify and locate assets. Fixed Asset management software is a set of database records and each database record comprises of metadata explaining the information about its content. The software helps to organize the databases and helps the companies to store. The fixed asset management software also helps enterprises to track and analyze abilities of expensive equipment and assets, including laboratory equipment, air cons, and ultrasound machines. Further, Growing demand to reduce operational cost and Multiply Profits through Efficient Management of Assets software by enterprises is driving the Global fixed asset management software market.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Largest Market | North America |
Unit | Value (USD Million) |
Key Companies Profiled | IBM (United States), Infor (United States), SAP (Germany), Microsoft (United States), Oracle (United States), Sage (United Kingdom), Acumatica (United States), Aptean (United Kingdom), Maintenance Connection (United States),, IFS (Sweden), eMaint (United States), Ramco Systems (India), ABB (Switzerland, Tracet (India), Mainsaver (United States), Sage Intacct (United States), Cougar Mountain Software (United States), Multiview Corporation (Canada), NetSuite (United States) and SAP ERP Core Finance (Germany) |
CAGR | 16.4% |
The global fixed asset management software market is highly competitive and fragmented with various established international brands, domestic brands and as well as new entrants form a competitive landscape. The key players are nonstop increasingly looking at the market expansion through various strategic mergers and acquisitions, innovation, increasing investments in research and development and cost-effective product portfolio. Research Analyst at AMA estimates that United States Players will contribute to the maximum growth of Global Fixed Asset Management Software market throughout the predicted period.
IBM (United States), Infor (United States), SAP (Germany), Microsoft (United States), Oracle (United States), Sage (United Kingdom), Acumatica (United States), Aptean (United Kingdom), Maintenance Connection (United States),, IFS (Sweden), eMaint (United States), Ramco Systems (India), ABB (Switzerland, Tracet (India), Mainsaver (United States), Sage Intacct (United States), Cougar Mountain Software (United States), Multiview Corporation (Canada), NetSuite (United States) and SAP ERP Core Finance (Germany) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research are Reslink Solutions (Finland), BNA Fixed Assets (United States), Kaizen Software Solutions (United States), Avia Software (United Kingdom), Bloomberg BNA (United States), Acumatica ERP (United States), AccuFund Accounting Suite (United States) and EAZY ERP (United States).
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
Segmentation Overview
The study have segmented the market of Global Fixed Asset Management Software market by Type , by Application (Accounting, Tax Management, Asset Tracking, Asset Management, Document Management and Others) and Region with country level break-up.
On the basis of geography, the market of Fixed Asset Management Software has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). North America region held largest market share in the year 2023. Asia Pacific on the other hand stood as second largest market due to the presence of key companies into the region and high technological advancement.
Market Leaders and their expansionary development strategies
In April 2019, Wasp software by Asset Cloud Company was launched which is the only asset tracking solution provider that offers all the necessary software, hardware, and asset tags you need to implement an asset management system. and Wasp provides asset, inventory, and time & attendance systems that are fairly priced, easily implemented, and ready-to-use after installation. Wasp listens to the needs of small business customers because of its passion to help each of those customers succeed.
In March , 2022 Aptean, a global provider of mission-critical enterprise software solutions, announced the launch of Aptean EAM, an all new, cloud-based enterprise asset management (EAM) solution for manufacturing and other businesses that depend on complex equipment to support production.
Influencing Trend:
Rising Demand for Cloud-Based Solutions among Various Sectors and Integration of Asset Management Solutions
Market Growth Drivers:
Increasing Demand for Digitization & Data Management, Tremendous Spending’s on Digital Marketing & Growing Mobility Solutions and Advent of Big Data Analytics and IoT Technology
Challenges:
Lack of Skilled Professionals in Fixed Asset Management Software
Restraints:
Lack of Awareness and Dependency on Traditional Approaches
Opportunities:
Increasing Investments in R & D Leading To High Implementation of Analytics to Manage Fixed Assets
Key Target Audience
Fixed Asset Management Software Device manufacturers, Network Operators, Distributors & Suppliers, Research Firms, Software Developers, Commercial Banks, Government Agencies, End-user sectors and Technology Investors