The global asset management IT solutions market is growing significantly, at a CAGR of around 8.6% during the forecast period (2019-2025). Asset management IT solutions is the fundamental building block that allows best practices for the management of the assets efficiently and allows users to schedule preventive care and track history. With the enhancements in the technological infrastructure, the demand for asset management IT solutions has also significantly increased. The increasing demand for cloud-based asset management IT solutions is likely to create ample opportunities for the growth of the market. The enterprises are aimed to deploy cloud-based solutions owing to various benefits offered by cloud-based deployments such as enhanced collaboration, scalability, and cost-efficiency.

With the advent of IoT & big data analytics has assisted asset management IT solutions in providing operational insights from massive amounts of data. The combination of big data and analytics directly enables the company to expand and gain a competitive edge across various industries across the globe. The integration with such technologies with asset management IT solutions, it enables in achieving higher visibility, through connected devices that eliminate errors and inconsistencies that result from manual tracking and data entry. Asset management IT solutions is a better way for the asset planning, operational effectiveness and scheduling for manufacturing, supply chain operations as well as MRO (maintenance, repair, and operation) management, which is expected to offer growth opportunity to the market during the forecast period. However, the security concerns and reliability issues are still challenging and are subject to concern for the EAM solution providers, which in turn, hampers the market growth across the globe. 

Segmental Outlook  

The asset management IT solutions market is classified on the basis of deployment type and end-users. Based on the deployment type, the market is segmented into on-premises and cloud-based. Based on end-users, the market is segregated into BFSI, IT & telecom, government, manufacturing, and others.

Global Asset Management IT Solutions Market Share by Deployment Type, 2018 (%)

Global asset management IT solutions market to be driven by the significant adoption of cloud-based solutions

The cloud-based asset management IT solutions is expected to project a considerable CAGR during the forecast period. This is due to the significant adoption rate of cloud-based solutions in SMEs from different industry verticals. The cloud-based asset management IT solutions require no hardware other than mobile devices, tablets, or personal computers and can be easily scalable to fit the demand of an organization. On-premise asset management IT solutions require a substantial initial investment to purchase and maintain the necessary hardware to run the asset management IT software, whereas, Cloud asset management IT solutions do not require any investment in specific hardware. This, in turn, is gaining traction of large enterprises towards the deployment of cloud-based asset management IT solutions.

Regional Outlook 

The global asset management IT solutions market is classified on the basis of geography, which includes North America, Europe, Asia-Pacific, and the Rest of the World. The North American EAM industry is contributing considerably to the growth of the global asset management IT solutions market. Factors such as the presence of well-developed IT infrastructure, digitalization, rising adoption of IoT devices and cohesive government policies are augmenting the growth of the regional market. Further, the increased adoption of cloud-based services in the country is also influencing the asset management IT solutions market growth. In the US, there were around 5,954,000 firms in 2016 which increased to nearly 5,997,000 in 2017 as per the data provided by census.gov. Moreover, the organization also stated that over the period 2016-2017, the number of firms in the country continues to increase. The growing number of enterprises creates demand for hardware such as laptops, desktop, storage, servers, and other hardware, which further creates the demand for hardware assets management solutions to be implemented at an enterprise for proper management of assets.

Global Asset Management IT Solutions Market Growth, by Region 2019-2025

Asia-Pacific is expected to propel with a considerable growth rate in the global market

Asia-Pacific is expected to project a considerable CAGR in the global asset management IT solutions market during the forecast period. This growth can be attributed to the significant adoption of asset management IT solutions in economies such as China, Japan, India, South Korea, Thailand, and Australia. Further, growth in the industry vertical in these countries and increasing awareness toward the advantage of asset management is also driving the market growth. In addition, government initiatives are also playing a key role in the growth of the market in the region. For instance, the ‘Make in India’ campaign of India has led the country’s position jumped in the World Bank’s Ease of Doing Business to 63 ranks in 2019 from 142 ranks in 2014. These improvements can motivate foreign companies and foreign venture capitalists to invest more in such emerging economies of the region.

Market Players Outlook

The key players in the asset management IT solutions market are contributing significantly by providing advanced technology-based products and expanding their geographical presence across the globe. The key players operating in the global asset management IT solutions market include Freshworks Inc., Samanage, Asset Panda, LLC, Spiceworks, Inc., ManageEngine, and monday.com. These market players adopt various strategies such as product launch, partnerships, collaborations, mergers, and acquisitions to sustain a strong position in the market. 

The Report Covers

• Market value data analysis of 2018 and forecast to 2025.
• Annualized market revenues ($ million) for each market segment.
• Country-wise analysis of major geographical regions.
• Key companies operating in the global asset management IT solutions market. Based on the availability of data, information related to pipeline products, and relevant news is also available in the report.
• Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
• Analysis of market-entry and market expansion strategies.
• Competitive strategies by identifying ‘who-stands-where’ in the market.