Asset Management Systems Market (By Solution: Real-Time Location System, Mobile Computers, Barcode, Label, Radio Frequency Identification, Others; By Asset Type: Manufacturing, Electronic Asset, Personnel Equipment, Returnable Transport Asset; By Function: Location and Movement Tracking, Repair and Maintenance, Check in/Check out Management; By End Use: Healthcare, Public Sector, Retail, Hospitality, Industrial Manufacturing, Energy and Utilities, Others) - Global Industry Analysis, Market Size, Opportunities and Forecast, 2020 - 2027

The global asset management systems market is anticipated to grow at a CAGR of around 10.2% during the forecast period 2020 to 2027 and to reach around US$ 34.3 Bn by 2027.

Market Dynamics

lowering the cost is resulting in rising demand for asset management system from various end use industries this is major factor expected to drive the growth of global market. Government is spending high on the development of healthcare infrastructure in order to provide advanced care to the patients. Hospitals contain large number of systems and medical equipments that are actively working in order to provide effective healthcare facility. Assent management helps in optimizing and protecting the critical inner workings of a building in order to maintain a safe, clean and well-maintained medical environment.

Business development activities by major players through acquisition and partnerships is another factor expected to support the growth of target market.

In 2020, Zebra Technologies Corporation a global technology solution provider announced that Maikubo Artificial Intelligence (AI) Academy has partnered with the company with the focus to adopt Zebra’s RFID solutions to achieve faster, more accurate asset tagging and improve the accuracy and visibility along with enhanced staff efficiency. This is expected to help the company to enhance the business presence.

In 2020, DRMP, Inc. is a privately-held, employee-owned, multi-discipline civil engineering and surveying firm adopted Zebra RFID solutions to increase asset control, security, and visibility. This is expected to help the company to enhance the customer base.

In 2020, Advantech is a manufacturer of industrial computers, industrial Motherboard,ATX Motherboard, etc. launched real-time location system (RTLS) solution-ready package (SRP) designed for real-time locating and monitoring of medical equipment, staff, and patients. This is expected to help the company to enhance the product portfolio.

In 2020, STANLEY Healthcare a global provider of innovative solutions and technology integrated its AeroScout Real-time Location System (RTLS) platform with Cisco Systems (US) Cisco DNA Spaces. The integration is expected to help the company to location and status of assets further simplifying the operations.

In 2020, SATO, a global pioneer in the development of auto-ID and labeling solutions launched ASETRA, a package system that utilizes RAIN RFID tags, QR codes and barcodes to simplify management of special tools and returnable items (RTIs). This product launch is expected to help the company to enhance the product portfolio and increase the customer base.

However, factors such as high cost of asset management system and lack of advanced infrastructure in developing countries in order to support the adoption of advanced solution are expected to hamper the growth of global market. In addition, lack of skilled engineers related to handling the technical difficulties giving heads-up during the working is expected to challenge the growth of target market.

High investment by major players and focus on providing innovative solutions is expected to create new opportunities for players operating in the target market over the forecast period. In addition, players inclination towards emerging economies in order to enhance the business is expected to support the revenue transaction of target market.

Segment Analysis by Region

The market in Asia Pacific is expected to witness faster growth in the target market due to increasing demand for assent management from manufacturers. In addition, rapid advancements in manufacturing practices and players focus on adoption of asset management as it allows them to predict future infrastructure costs, cut maintenance overheads, etc. this is expected to support the growth of target market.

Competitive Landscape                                                                                 

The global market is high highly competitive due to presence of large number of players and innovative product offerings. In addition, business expansion activities through partnerships and agreements are factors expected to further increase the competition.

Report coverage

 
Asset Management Systems Market Segment Analysis, 2019

The global market is segmented into solution, asset type, function, and industry vertical. The solution segment is bifurcated into real-time location system, mobile computers, barcode, label, radio frequency identification, and others. Among the solution the real-time location system segment is expected to gain importance due to easy tracking of asset. The end use segment is further divided in to healthcare, public sector, retail, hospitality, industrial manufacturing, energy and utilities, and others.

The players profiled in the report are Trimble Navigation Ltd., TrackX LLC, Siemens AG, Omni-ID, Motorola Solutions Inc., Infor, Inc., Zebra Technologies Corp., GE Healthcare, Cisco Systems, Inc., and AeroScout, Inc.

Market Segmentation

Market By Solution

Real-Time Location System

Mobile Computers

Barcode

Label

Radio Frequency Identification

Others

Market By Asset Type

Manufacturing

Electronic Asset

Personnel Equipment

Returnable Transport Asset

Market By Function

Location and Movement Tracking

Repair and Maintenance

Check in/Check out Management

Market By End Use

Healthcare

Public Sector

Retail

Hospitality

Industrial Manufacturing

Energy and Utilities

Others

Market By Region

North America

• U.S.
• Canada

Europe

• U.K.
• Germany
• France
• Spain
• Rest of Europe

Asia-Pacific

• China
• Japan
• India
• Australia
• South Korea
• Rest of Asia-Pacific

Latin America

• Brazil
• Mexico
• Rest of Latin America

Middle East & Africa

• GCC
• South Africa
• Rest of Middle East & Africa