The fixed asset management software global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Fixed Asset Management Software Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The fixed asset management software market size has grown rapidly in recent years. It will grow from <b>$3.8 billion in 2023 to $4.24 billion in 2024 at a compound annual growth rate (CAGR) of 11.5%. </b> The growth in the historic period can be attributed to manual processes replacement, data centralization, lifecycle management requirements, efficiency and productivity improvement, growth in it industry.
The fixed asset management software market size is expected to see rapid growth in the next few years. It will grow to <b>$6.65 billion in 2028 at a compound annual growth rate (CAGR) of 11.9%. </b> The growth in the forecast period can be attributed to ai-driven decision-making, industry-specific solutions development, remote monitoring sophistication, cost efficiency priority, integration with business systems, mobile accessibility enhancement, rise in remote work. Major trends in the forecast period include digitization of asset management, advancements in technology, compliance requirements, data security concerns.
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Scope Of Fixed Asset Management Software Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Fixed Asset Management Software Market Overview
Market Drivers –
The increasing demand for fixed assets over multiple verticals is expected to propel the demand for fixed asset management software going forward. Fixed assets are assets that are used in corporate operations and generate a long-term financial advantage. The company utilizes fixed assets to manufacture goods and services and generate money. They are not sold to customers or held as an investment. Due to such benefits of investing into fixed assets, businesses use fixed asset management software to monitor equipment and vehicles, evaluate their condition, keep them in good operating order, reduce lost inventory, equipment failures, and downtime, and increase the asset’s lifetime value. For instance, In July 2022, accoroding to a report published by Government of china, from January to June, national fixed asset investment (excluding rural households) totaled 27,143 billion yuan, a 6.1% rise year on year. Addtionally, the private fixed asset investment was 15,307.4 billion yuan, a 3.5% rise year on year. Therefore, an increasing investment and demand for fixed assets over multiple verticals will drive the fixed asset management software market.
Market Trends –
Technological advancements are the key trend gaining popularity in the fixed asset management software market. The advanced fixed asset management software includes IT asset lifecycle programmes that generate accurate and actionable data to assist IT asset managers in making sound decisions. Major companies operating in the fixed asset management software market are focused of innovating new technologies to sustain their position in the market. For instance, in March 2022, Aptean, a US-based provider of fixed ssset management software, launched the Aptean EAM, a new cloud-based enterprise asset management solution including CMMS for manufacturers. Aptean EAM’s extensive features, which include advanced analytics, simplify intelligent preventative maintenance. In order to manage work orders, automate approvals, maintain spare parts inventories, schedule preventative maintenance, assign appropriately skilled workers, and conduct mobile compliance inspections, Aptean EAM elevates asset maintenance and management tasks through a single platform. It is intended to satisfy the maintenance management requirements of companies whose operations are powered by equipment.
The fixed asset management software market covered in this report is segmented –
1) By Component: Software, Services
2) By Deployment Type: On-Premises, Cloud
3) By Organization Size: Large enterprises, Small- & medium-sized enterprises
4) By End Users: Energy and utilities, Manufacturing, IT, Telecom and media, Transportation and logistics, Healthcare and life science, Others end users (BFSI, retail, and government)
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Regional Insights –
Asia-Pacific was the largest region in the fixed asset management software market share in 2023 and is expected to be the fastest-growing region in the forecast period. The regions covered in the fixed asset management software market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the fixed asset management software market report are International Business Machines Corporation, Infor Inc., Tracet Enterprise, Microsoft Corporation, Oracle America Inc., Sage Software Inc., Aptean India Pvt Ltd., Aveva Group plc, SAP SE, Ramco Systems Limited, Xero Limited, FMIS Ltd., AssetWorks LLC, RCS Tech LLP, InfoFort LLC., Asset Panda LLC., Expresstech Holdings Inc., ManageEngine AssetExplorer, UpKeep Technologies Inc., InvGate Assets, AssetCloud by Wasp Barcode Technologies, Cheqroom NV, Ivanti Inc., Nektar Data Systems Inc., Asset4000, Bloomberg Tax Fixed Assets, FlexiInternational Software Inc., Deltek Inc., Reftab LLC, EZOfficeInventory
Table of Contents
1. Executive Summary
2. Fixed Asset Management Software Market Characteristics
3. Fixed Asset Management Software Market Trends And Strategies
4. Fixed Asset Management Software Market – Macro Economic Scenario
5. Global Fixed Asset Management Software Market Size and Growth
…
31. Global Fixed Asset Management Software Market Competitive Benchmarking
32. Global Fixed Asset Management Software Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Fixed Asset Management Software Market
34. Fixed Asset Management Software Market Future Outlook and Potential Analysis
35. Appendix
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