Fixed Asset Management Software Market

Fixed asset management software is anticipated to have a global market value of USD 3.8 billion in 2021 and USD 4.2 billion in 2022. From 2022 to 2032, the market is projected to expand at a CAGR of 10.6%, reaching USD 11.4 billion.

Over the projected period, it is estimated that the market would be highly impacted by the quick adoption of IoT-based services across a variety of industries, including manufacturing, oil & gas, energy, power, and construction.

With the emergence of industry 4.0 in the manufacturing sector, various plants have adopted digital technologies to enhance the manufacturing processes, thereby, propelling the industry in the forecast period. Besides, technological development across several sectors like cloud computing, AI, and others is expected to benefit the fixed asset management software market in the forecast period.

For instance, in September 2019, Adapt IT disclosed a partnership with i-Chain, a South Africa-based fixed asset management services, and solutions company to provide a Web-based system offering easy access to a cloud-based environment, designed especially for educational institutions to assist them in managing their assets.

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Key Takeaways from the Market Study

The global fixed asset management market is estimated at USD 3.8 Bn in 2021
The global fixed asset management market to expand at 10.6% during the forecast period
The U.S market to secure USD 4 Bn and expand at 10.4% from 2022-to 2032
The market in China to procure USD 794 Mn while recording a 9.9% CAGR
The on-premises segment to expand at 10.2% CAGR
The Manufacturing segment to record a 10.4% growth rate
Competitive Analysis

Key participants of the global fixed asset management software market include IBM, Infor, SAP, Microsoft, and Oracle, among others.

Recent key developments among players are:

In March 2021, Sage, a cloud-business solutions provider acquired Task Sheriff, an artificial-based SaaS. The acquisition is focused on strengthening its AI technology and Task Sheriff founders would join Sage AI Labs. It is a global team of engineers, data scientists, and product managers, located in Melbourne, Barcelona, San Francisco, and Tel Aviv.
In April 2019, Infor signed an agreement with First Bus. Infor agreed to strengthen asset management for First Bus. First Bus is a transport operator in North America and the U.K.
More Valuable Insights

Future Market Insights, in its new offering, presents an unbiased analysis of the global fixed asset management software market presenting a historical analysis from 2015 to 2021 and forecast statistics for the period of 2022-2032.

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Key Segments Covered In The Fixed Asset Management Software Report
By Component:

Fixed Asset Management Software
Fixed Asset Management Services
By Deployment Type:

Cloud Fixed Asset Management
On-Premises Fixed Asset Management
By Organization Size:

Fixed Asset Management for Large Enterprises
Fixed Asset Management for SMEs
By Vertical:

Fixed Asset Management for Energy and Utilities
Fixed Asset Management for Manufacturing
Fixed Asset Management for IT, Telecom, and Media
Fixed Asset Management for Transportation and Logistics
Fixed Asset Management for Healthcare and Life Sciences
Fixed Asset Management for Other Verticals
By Region:

North America
Europe
Asia Pacific
Middle East & Africa
Latin America

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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years

This release was published on openPR.