Press release
Development Trends: Fixed Asset Management Software Market Analysis and Opportunities 2018-2025 | IBM, Infor, Oracle, SAP, Sage, Aptean, Maintenance Connection, Microsoft, Acumatica, IFS, Ramco Systems, ABB, Tracet, Aveva, eMaint, and Mainsaver
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Technological developments across various industry verticals, such as Machine Learning, Cloud Computing, Artificial Intelligence, and many more, are likely to fuel the acceptance of fixed asset management software since these technologies deliver efficiency, agility, and scalability to businesses. Hence, the global fixed asset management (FAM) software market size is anticipated to reach USD 7 billion by 2028. Advancements in the energy & utilities, real estate, and manufacturing sectors are likely to generate lucrative growth prospects within the fixed asset management software industry.
With the emergence of industry 4.0 within the manufacturing sector, several plants are implementing digital technologies to improve, automate, and upgrade the manufacturing practices, while improving the administration of fixed assets. A FAM Software allows the manufacturers to predict the forthcoming equipment and manufacturing expenses, which in turn, enables them to formulate a cost-efficient budget. Moreover, it also facilitates them to make reports on existing and future values of their permanent assets, and enhance their fixed assets turnover ratio.
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The global fixed asset management software market contains both software and service segment. The software segment possesses a significant market share within the global fixed asset management software solution market in 2019. The software allows enterprises with various features, that include depreciation management, asset lifecycle management, disposal management, asset budgeting, document management, barcoding, Radio Frequency Identification, asset tracking, tax management, and audit trail. Enterprises across industries are implementing FAM software since it helps them to increase operational efficiency and monitor their assets. On the other hand, the services segment is anticipated to grow at a significant growth rate from 2020 to 2028.
The global fixed asset management software market has strong competition among the well-established and new emerging players. These market players target to gain a competitive advantage over the other players by participating in partnerships, mergers, and acquisitions and expanding their businesses.
The global fixed asset management software market is a wide range to North America, South America, Europe, Asia Pacific, and the Middle East & Africa. North America is considered a mature market in fixed asset management software applications, owing to an outsized presence of organizations with the availability of technical expertise and advanced IT infrastructure. The United States and Canada are the highest contributory countries to the expansion of the fixed asset management software market in North America.
The major players of the global fixed asset management software market are IBM, Infor, Oracle, SAP, Sage, Aptean, Maintenance Connection, Microsoft, Acumatica, IFS, Ramco Systems, ABB, Tracet, Aveva, eMaint, and Mainsaver. The fixed asset management software market is fragmented with the existence of well-known global and domestic players across the globe.
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Segment Overview of Global Fixed Asset Management Software Market
Component Overview, 2018-2028 (USD Billion)
Solutions
Customer Management
Inventory Management
Mobile Field Execution
Service Contract Management
Warranty Management
Workforce Management
Others
Services
Implementation
Training & Support
Consulting & Advisory
Organization Size Overview, 2018-2028 (USD Billion)
Small & Medium Enterprise
Large Enterprise
Deployment Overview, 2018-2028 (USD Billion)
On-premise
Cloud
Application Overview, 2018-2028 (USD Billion)
BFSI
Construction & Real Estate
Energy & Utilities
Healthcare
Manufacturing
Telecom
Transportation & Logistics
Others
Regional Overview, 2018-2028 (USD Billion)
North America
U.S.
Canada
Europe
UK
Germany
France
Rest of Europe
Asia Pacific
China
Japan
India
Rest of Asia-Pacific
Middle East and Africa
UAE
South Africa
Rest of Middle East and Africa
South America
Brazil
Rest of South America
Adroit Market Research is an India-based business analytics and consulting company incorporated in 2018. Our target audience is a wide range of corporations, manufacturing companies, product/technology development institutions and industry associations that require understanding of a market's size, key trends, participants and future outlook of an industry. We intend to become our clients' knowledge partner and provide them with valuable market insights to help create opportunities that increase their revenues. We follow a code - Explore, Learn and Transform. At our core, we are curious people who love to identify and understand industry patterns, create an insightful study around our findings and churn out money-making roadmaps.
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