Asset Management Systems Market Scope
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.
The market study is segmented by Type (Electronic Assets, Returnable Transport Assets, In-Transit Equipment, Manufacturing Assets and Personnel/Staff), by Application (Asset tracking, Audit management, Cost tracking, Procurement management, IT service management and Compliance management) and major geographies with country level break-up.
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. Research Analyst at AMA estimates that United States Players will contribute to the maximum growth of Global Asset Management Systems market throughout the predicted period.
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 are Datalogic S.p.A (Italy), Trimble Inc. (United States), TomTom International BV (Netherlands), Topcon Corp. (Japan) and NCR Corp. (United States).
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a
preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from total available market.
AdvanceMarketAnalytics has segmented the market of Global Asset Management Systems market by Type, Application 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).
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
SoftServe and ADAM Software underwent a strategic partnership. This partnership allows SoftServe to couple the company's deep engineering capabilities and leading digital design expertise to ADAM's DAM and PIM solutions, which would help organizations create, manage, and deliver digital content that can ensure consistency across various channels.
- Rising Adoption of Digital Assert Management System
- The Rapid increase in the Digital Content
- Evolution in Internet Services
- Optimum Resource Utilization Requirements for Resources
- Increase in Demand for Image-Based Barcode Readers
- Rise of Digital Assets across Various Industry Verticals
- The Imposition of Lockdowns and Social Distancing may Restrict Commercial Trade growth in the Coming Months
- High initial Costs of Asset Management Systems
- Issues related to the bandwidth and connectivity
- 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.
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