Global Asset Management System Market is valued approximately USD 15.53 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 10.21% over the forecast period 2020-2027. Asset management is defined as any system that helps to monitor and maintain things of value to an entity or group. It is applied to both tangible asset such as buildings and intangible assets like human capital and financial asset. It is a process of developing, operating and maintaining assets lucratively. It helps to reduce inventory and stock management cost and utilizes existing tools through tracking and monitoring both in real time and non-real time are the major drivers which help in surging the growth of asset management system market. The global asset management systems market is projected to witness considerable growth owing to promising factors such as high Return on Investment (ROI) & cost saving, upgraded supply chain efficiency, and decrease in search time for out-of-place assets. Asset management systems are used for several functions such as check-in/check-out, location tracking, and maintenance & repairs. For Instance: in May 2020, Maikubo Artificial Intelligence adopted Zebra Technolgies’ RFID Solution for enhancement in tagging and management of training equipment. However, High initial costs of asset management system impedes the growth of the market over the forecast period of 2020-2027. Although, increase in demand for image-based barcode readers presents a lucrative opportunity for the market.
The regional analysis of global Asset Management System market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading/significant region across the world in terms of market share owing to the growing assets of the operating firms and increasing need for optimized asset management. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2027. Factors such as rising number of global giants would create lucrative growth prospects for the Asset Management System market across Asia-Pacific region.
Major market player included in this report are:
- Zebra Technologies Corp.
- Stanley Black and Decker, Inc.
- Sato Holdings Corporation
- Impinj, Inc.
- Honeywell International Inc.
- Datalogic S.p.A
- Trimble Inc.
- TomTom International BV
- Topcon Corp.
- NCR Corporation
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
- GPS (Global Positioning Systems)
- RFID (Radio Frequency Identification)
- RTLS (Real Time Location Systems)
By Asset Type:
- Electronic Assets
- Returnable Transport Assets
- In-Transit Equipment
- Manufacturing Assets
- Transportation & Logistics
- Industrial Manufacturing
- North America
- Asia Pacific
- South Korea
- Latin America
- Rest of the World
Furthermore, years considered for the study are as follows:
- Historical year – 2017, 2018
- Base year – 2019
- Forecast period – 2020 to 2027
Target Audience of the Global Asset Management System Market in Market Study:
- Key Consulting Companies & Advisors
- Large, medium-sized, and small enterprises
- Venture capitalists
- Value-Added Resellers (VARs)
- Third-party knowledge providers
- Investment bankers