This Asset Management System market study offers a comprehensive analysis of the business models, key strategies, and respective market shares of some of the most prominent players in this landscape. Along with an in-depth commentary on the key influencing factors, market statistics in terms of revenues, segment-wise data, region-wise data, and country-wise data are offered in the full study. This study is one of the most comprehensive documentation that captures all the facets of the evolving Asset Management System market.
Asset Management System market is growing significantly due to increasing progressively to track the company’s products, to make entry of assets in the spreadsheet or in purchasing asset management software to handle and manage the business processes.
Asset management is a system used by an enterprise to track, maintain, and keep record of company’s assets. It includes both digital as well as physical assets such as equipment, and intellectual property. The implementation of asset management system help organization to track assets to enhance workflow and productivity, maintain record of losses and profits, reduces the chances of loss and misplacing of asset.
With the rising adoption of newer and modern technologies such as big data and cloud, the companies are using asset management systems by integrating asset management tools with big data and analytics. Moreover, the rising implementation of complex and interconnected infrastructure has encouraged organizations to adopt asset management systems that can help in managing operation technologies to gather more important data and information.
Asset Management System Market: Drivers and Challenges
The major factor driving the adoption of Asset Management System is the requirement of streamlining the operations in the organization. The implementation of Asset Management System can help enterprise in reducing the time wasted for recording data by inefficient tracking methods and manually recording data. Moreover, the adoption of Asset Management System allow enterprises to focus on complex task of business rather than asset tracking activities and helps in increasing business profits by reducing unnecessary expenses on assets.
The key challenge for Asset Management System market is the maintenance of assets and collaboration of all the functional departments of an organization to use Asset Management System. Moreover, another challenge for the Asset Management System market growth is the high cost of solutions and expenses in maintaining and training employees. Moreover, difference in pricing complicated trade-off between accuracy are acting as a restraint for this Asset Management System market to grow.
In October 2016, BaxEnergy asset stack solution provider has entered into an agreement to acquire 4M consulting to enter into the asset management market. This acquisition will help BaxEnergy to improve its offerings and introduce tailor –made asset management solutions by 4M.
In October 2015, FactSet acquired Portware an executive management system provider. This acquisition will help FactSet to improve their tools and services of asset management system with the help of Portware’s executive management system.
In Asset Management System market there are many vendors some of them are Trimble, Portware, Honeywell, Datalogic, Zebra technologies, IBM, AssetWorks, Hardcat, CityWorks and others
Presently, North America is holding the largest market share for Asset Management System market due to high adoption of digital technologies among individual for recording asset tracking. The adoption of cloud deployment model is also impacting the market for Asset Management System in a positive manner. Companies such as IBM is also working towards the development of Asset Management System platforms with the partnerships and acquisitions in this market to enhance market opportunities.
In Europe region, the market for Asset Management System is witnessing high growth rate due to the increasing demand for mobile based asset tracking apps and monitoring asset usage in the company.
The Asia Pacific region is following the Europe region in Asset Management System market. This market is expected to have the highest growth rate in coming years due to the adoption of digital asset management solutions
The report covers exhaustive analysis on:
Asset Management System Market Segments
- Market Dynamics
- Historical Actual Market Size, 2014 - 2016
- Market Size & Forecast 2017 to 2027
- Value Chain
- Market Current Trends/Issues/Challenges
- Competition & Companies involved
- Market Drivers and Restraints
Regional analysis for Asset Management System Market includes development of these systems in the following regions:
- North America
- Latin America
- Rest of LATAM
- Western Europe
- Rest of the Western Europe
- Rest of the Eastern Europe
- Asia Pacific excluding Japan (APEJ)
- Australia and New Zealand (ANZ)
- Rest of APEJ
- Middle East and Africa
- GCC Countries
- North Africa
- South Africa
- Rest of MEA
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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Asset Management System Market: Segmentation
Segmentation on the basis of Software:
- Asset tracking software
- Fixed asset inventory management software
- Web based asset tracking software
- Cloud based asset tracking management software
- Enterprise asset management software
Segmentation on the basis of Applications:
- Asset tracking
- Audit management
- Cost tracking
- Procurement management
- IT service management
- Compliance management
- Detailed overview of parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint.
Frequently Asked Questions
What research methodology is used to develop the Asset Management System Market report?
- FMI utilizes three branched methods to derive market measurements used to compile any report study (data derivation, triangulation and validation).
- These approaches include accumulating data from both primary and secondary sources
- Primary research involves interviews with industry operators and FMI's network of contacts spanning the world's value chain of the Asset Management System Market. This is supported by a comprehensive literature analysis of information gathered through secondary sources
- Analysis of several middle market stakeholders for country-wise data
What else does FMI offer apart from Asset Management System Market report?
In addition to up-to-date market figures and customized of the Asset Management System Market, FMI offer consulting services to help businesses within industry navigate challenges and take well-informed decisions amidst the breakneck competition.
How do you define competitors based on market structure? What aspects about a competitor are included in the company profile section?
- Most of the competitors are segregated according to their market share in 'Tier' wise statures.
- Global market participants are scrutinized and global competition metrics are included with numerous competitor profiles referring to their business background and go-to market strategies.