The Global Asset Management Systems Market Size valued for USD 19.4 Billion in 2021 and is anticipated to reach USD 45.9 Billion by 2030 with a CAGR of 10.1% from 2022 to 2030.

Asset management systems are the ones that assist in making decisions regarding the upkeep, improvement, and use of actual transportation assets. The systems that inventory and handle the highway infrastructure and other assets related to transportation are integrated into asset management, along with systems that manage bridges and pavement. Asset management software is very helpful to an organization because, in addition to keeping track of assets, it can also perform additional tasks such as: Measuring vendor performance, Optimizing supplier portfolio, Vendor audit and policy compliance, Optimizing licensing costs, and Simplifying procurement procedures. Teams can reduce waste and increase utilization because asset management keeps information current. By assisting in preventing pointless purchases and lowering licensing and support costs, it helps to save money. In addition to reducing risks, increased control also enforces adherence to security and legal policies. The entire organization benefits from the favorable effects on costs and productivity.

Asset Management Systems Market Dynamics

Asset management involves employees at all levels of the organization, from COOs and managers to accountants and engineers to IT specialists and even equipment operators. Successful asset management can also involve clients and contractors from outside sources. Asset management, when used effectively, assists stakeholders, decision-makers, and employees in predicting and managing the life cycle of an asset. A wise asset management system promotes accountability, keeps planning and equipment maintenance on track, and generates a steady data stream through asset tracking in real time.

The use of Geographic Information Systems has been made possible by quick digitization and the wide availability of orthorectified images from satellites (GIS). Better asset planning, designing, development, and maintenance are made possible by the use of GIS in industries like the transportation and energy sectors. Digital asset management and tracking helps avoid some of the drawbacks of out-of-date tracking systems, such as depending on inaccurate data and having no idea where assets are or how they are doing. The possibility of misunderstandings resulting from differences in departments or branches decreases with a central location and easily tractable assets because decision-makers can coordinate across time zones and various foreign locations.

Asset Management Systems Market Insights

The asset management systems market is mainly divided into solution, asset type, function, distribution, and geographic segments. The Solution category is divided into mobile computers, real-time location system, barcode, radio frequency identification, label, and others. By asset type, the segment is divided into electronic asset, manufacturing, personnel equipment, and returnable transport asset. Function type is further categorized into repair and maintenance, location and movement tracking, check in/check out management. Among end-use, the market is categorized into public sector, healthcare, retail, industrial manufacturing, hospitality, energy and utilities, and others. Furthermore, the region segment is categorized into North America, Latin America, Europe, Asia-Pacific, and the Middle East & Africa.

Global Asset Management Systems Market Geographical Competition

With more than 30% of the total revenue share in 2021, North America emerged as the top regional market. Several businesses now have a variety of opportunities to manage valuable data streams and turn them into important information thanks to the development of big data technology. The demand in the regional market is thought to be driven by high usage in the retail and healthcare sectors. Additionally, there are numerous opportunities for market expansion provided by the use of data in both the manufacturing and public sectors. Due to an increase in manufacturer demand for assent management, the target market in Asia Pacific is anticipated to grow more quickly. Additionally, due to asset management's ability to help players predict future infrastructure costs, reduce maintenance costs, etc., manufacturing practices are rapidly evolving. This is anticipated to support the target market's expansion.

Global Asset Management Systems Industry Segment Analysis

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

Asset Management Systems Market Leading Companies

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

Asset Management Systems Market Regions