Rising Demand for Asset Management Solutions (RFID, RTLS, Barcode)

Asset management solutions have been implemented to manage assets in various industries such as healthcare, retail, hospitality, transportation and logistics, industrial manufacturing, process industries among others. Automotive, aerospace, heavy engineering and machinery are the key sectors in industrial manufacturing where different asset management systems are deployed in many applications such as inspection, identification, tool tracking, and staff monitoring among others.

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The asset management system market is expected to reach USD 25.55 billion by 2022, at a CAGR of 15.17% between 2016 and 2022. Optimum utilization of the asset during the assets' lifecycle results in effective cost saving. This factor is expected to drive the growth of the asset management system market.

Zebra Technologies Corporation (U.S.), Stanley Black and Decker Inc. (U.S.), Honeywell International Inc. (U.S.), Trimble Inc. (U.S.), and TomTom International BV (Netherlands) are some of the leading players in the asset management system market. New product launches, partnerships and agreements, and collaborations are the key strategies used by major players to gain a competitive edge in the asset management system market.

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Zebra Technologies Corporation (U.S.) has a leadership position in many categories of the asset management system market. The company has broad product portfolio with a strong presence in Real-Time Location System (RTLS), mobile scanners, and barcode scanners. The company has established a strong brand name owing to its innovation capabilities, product excellence, and quality of products.

The company largely focuses on new product launches. For instance, in June 2015, the company launched Zebra OneCare, a portfolio of support services that maximize the uptime and availability of Zebra mobile computers, printers, barcode scanners, and RFID solutions. This brand new flexible offering enables partners to increase their revenue and strengthen the relationship with their clients.

Honeywell International Inc. (U.S.) is one of the leading players in the asset management system market. The company is actively involved in improving its product portfolio by introducing new products to ensure its growth in the asset management systems market. For instance, in July 2016, the company's Honeywell Scanning & Mobility (HSM) division launched N6600 Series Ultra-Slim Area Imaging Engine and its miniature decoding board Mini DB, which together facilitates small mobile devices to rapidly and precisely capture data from barcodes.

The product is also designed for harsh environments, thus is capable to read the most scratched barcodes. This product is also being used effectively in the retail and logistics segment. The contemporary features of this product enables the company to gain a competitive advantage in the asset management system market.

The other companies involved in the development of the asset management system market include Sato Holdings Corporation (Japan), Datalogic S.p.A (Italy), Ubisense Group Plc. (U.K.), Topcon Corporation (Japan), Impinj, Inc. (U.S.), and Mojix Inc. (U.S.).

Mr. Sanjay Gupta
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This release was published on openPR.