About Asset Management Systems
Asset management is a system that a company uses to track, manage, and record the company's assets. It includes both digital and physical assets such as devices and intellectual property. Implementation of the asset management system helps the organization track assets to improve workflow and productivity, record losses and gains, and reduce the risk of asset losses and misplacement. The asset management market is becoming essential because of expanding continuously to follow the organization's items, to make passage of advantages in the spreadsheet, or in buying resource the board programming to deal with and deal with the business measures. The rising adoption of the Digital Asset Management system is also driving the market scenario.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches, and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies. Analyst at AMA Research estimates that United States Players will contribute the maximum growth to Global Asset Management Systems market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
OpenText Corporation (Canada), Oracle Corporation (United States), Adobe Systems Incorporated, Hewlett-Packard Company (United States), ADAM Software (Belgium), IBM Corporation (United States), Zebra Technologies Corp. (United States), Stanley Black and Decker, Inc. (United States), SATO Holdings Corp. (Japan), Impinj, Inc. (United States) and Honeywell International Inc. (United States) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are Datalogic S.p.A (Italy), Trimble Inc. (United States), TomTom International BV (Netherlands), Topcon Corp. (Japan) and NCR Corp. (United States).
Segmentation Overview
AMA Research has segmented the market of Global Asset Management Systems market by Type (Electronic Assets, Returnable Transport Assets, In-Transit Equipment, Manufacturing Assets and Personnel/Staff), Application (Asset tracking, Audit management, Cost tracking, Procurement management, IT service management and Compliance management) and Region.
On the basis of geography, the market of Asset Management Systems 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). If we see Market by Solutions, the sub-segment i.e. Radio Frequency Identification (RFID) will boost the Asset Management Systems market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Deployment Type, the sub-segment i.e. Online will boost the Asset Management Systems market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Industry Vertical, the sub-segment i.e. Healthcare will boost the Asset Management Systems market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Rising Adoption of Digital Assert Management System
Market Growth Drivers:
The Rapid increase in the Digital Content, Evolution in Internet Services and Optimum Resource Utilization Requirements for Resources
Challenges:
It is expected that the unavailability of skilled technicians or engineers to solve technical and operational problems will stunt the growth of the asset management systems market over the forecast period.
Restraints:
The Imposition of Lockdowns and Social Distancing may Restrict Commercial Trade growth in the Coming Months, High initial Costs of Asset Management Systems and Issues related to the bandwidth and connectivity
Opportunities:
Increase in Demand for Image-Based Barcode Readers and Rise of Digital Assets across Various Industry Verticals
Market Leaders and their expansionary development strategies
In May 2020, Zebra Technologies has partnered with Maikubo Artificial Intelligence (AI), an integrated education facility that offers AI training as well as a technology incubator and teaching mode products. As part of this partnership, Maikubo Artificial Intelligence took over the RFID solutions offered by Zebra in order to achieve fast and accurate identification and management of training devices. This saves time and improves staff visibility and staff efficiency
In October 2023, Hitachi Energy, a global technology leader advancing a sustainable energy future for all, announced the next generation of its asset performance management (APM) software solution, Lumada APM. The release builds on the strength of its proven asset health prediction offering and expands with two additional APM modules – Lumada APM reliability and Lumada APM optimization.
Key Target Audience
Manufacturers, Suppliers and Distributors, Venture Capitalists and Private Equity Firms, New Entrants/Investors, Strategic Business Planners, Government Regulatory, Research Organizations and End-Use Industries
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.