Asset Management Software Industry | Forecast 2030
Asset Management Software Industry Data Book Covers Asset Performance Management, Enterprise Asset Management, Infrastructure Asset Management Markets.
The global asset management software industry size was estimated at USD 56.76 billion in 2022. The market is expected to expand at a CAGR of 11.1% CAGR (2023-2030).
Grand View Research’s asset management software industry databook is a collection of market sizing information & forecasts, competitive benchmarking analyses, macro-environmental analyses, and regulatory & technological framework studies. Within the purview of the database, all such information is systematically analyzed and provided in the form of presentations and detailed outlook reports on individual areas of research.
The growing demand to increase organizational productivity by using advanced technology to meet company needs has been considered a key factor driving the asset management software market growth. Additionally, Bring Your Own Device (BYOD) policy is rapidly evolving, and the number of Internet of Things (IoT) devices is increasing faster, creating a significant demand in the market.
Asset Performance Management Market Insights
The global asset performance management market size was valued at USD 19.32 billion in 2022 and is expected to expanding at a compound annual growth rate (CAGR) of 12.0% from 2023 to 2030.
The asset reliability management segment accounted for the largest market share of more than 30.0% in 2022. The large share of this segment is primarily attributed to the extensive offering of the reliability management solutions from numerous market players. Moreover, the growing need of companies to extend the machine or equipment life is creating traction in this segment.
The hosted systems segment accounted for the considerable market share of above over 35.0% in 2022. The growth of the segment can be primarily attributed to the increasing demand for public cloud deployment as it provides numerous options in terms of solutions and computing resources to meet the growing needs of organizations of all sizes and from all verticals.
The energy & utilities segment accounted for the largest market share of above 18.0% in 2022. The increasing relevance of re-evaluating strategies and implementing sophisticated technology in the company processes are anticipated to drive growth of the segment. Moreover, growing need to cater increasing demands for satisfactory energy services has enabled managers and other officials to involve asset performance management solutions to monitor asset working and conditioning in order to fulfill increasing demands.
Access the Global Asset Management Software Industry Data Book, 2022 to 2030, compiled with details like market sizing information & forecasts, trade data, pricing intelligence, competition benchmarking, macro-environmental analyses, and regulatory & technological framework studies
Enterprise Asset Management Market Insights
The global enterprise asset management market size was valued at USD 5.00 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 16.7% from 2022 to 2030.
The on-premise segment accounted for the largest market share of over 60.0% in 2021 and is projected to remain dominant throughout the forecast period. Large enterprises with huge assets and sensitive data prefer deploying an on-premise EAM set-up to meet compliance requirements and relevant legislation. Concerns over data security are contributing to on-premise EAM software adoption.
The large enterprise segment accounted for the largest market share of over 60.0% in 2021. Large enterprises rely heavily on EAM software to streamline their operations and gain a competitive edge. The growing need among large enterprises to track KPIs associated with asset performance, fleet, and other facilities and the increasing urge to integrate multiple functions such as maintenance activities, inventory management, work order management, and reporting into a cohesive system are crucial factors driving the segment.
The others segment dominated the market and held a revenue share of over 30.0% in 2021. The manufacturing segment accounted for the second-largest share in 2021. The manufacturing industry has been making significant progress by implementing digital solutions in business processes.
The government segment is expected to witness significant growth during the forecast period. Managing and maintaining assets for local, state, and federal government agencies are crucial as security, compliance with standards, and seamless processes are given utmost consideration.
Infrastructure Asset Management Market Insights
The global Infrastructure Asset Management market size was valued at USD 22.60 billion in 2018 and is expected to register a CAGR of 8.9% from 2019 to 2025.
Application category for the IAM market can be segmented into transportation, energy, water & waste, critical, and other infrastructure. The transportation segment accounts for a dominant position and was valued at USD 6.90 billion in 2018. Factors such as government investments for enhancing transportation activities for citizens and the integration of location-based services in transportation systems is responsible for driving the growth of the transportation segment.
Based on components, the infrastructure asset management (IAM) market can be segmented into solution and service. The service segment led the market accounting for around 65% in 2018. Services are cost-effective as support and maintenance are included in the service package itself. The companies operating in the services sector are putting a high emphasis on providing training facilities subjective to the services workforce for the IAM system.
Strategic, tactical, and operational asset management are the service constituents for the infrastructure asset management market. Operational asset management maintains a dominant position during the forecast period owing to the wide usage in energy sectors. Changing dynamics in the energy sector is enabling the companies to look ahead for ways to cut down on energy costs, which is responsible for the segment growth.
Asset Management Software Market – Global Industry Segmentation
Asset Management Software Industry, By Type
- Asset Performance Management Software
- Enterprise Asset Management
- Infrastructure Asset Management
Asset Management Software Industry, By Deployment
- Cloud
- On-premise
Asset Management Software Industry, By Enterprise size
- Large Enterprise
- Small & Medium Enterprise
Asset Management Software Industry, By End – Use
- Energy and Utilities
- Oil & Gas
- Manufacturing
- Metal & Mining
- Transportation
- Government & Public Sector
- Chemical & Pharmaceutical
- Others
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Asset Management Software Industry Data Book Regional Outlook
- North America
- S.
- Canada
- Europe
- K.
- Germany
- France
- Asia Pacific
- China
- Japan
- India
- Latin America
- Brazil
- Mexico
- Middle East & Africa (MEA)
Asset Management Software Industry Data Book Competitive Landscape
The companies are adopting several growth strategies, such as partnerships, mergers & acquisitions, and product launches, to stay afloat in the competitive industry.
Key players operating in the asset management software industry are –
- AVEVA Group plc
- Aspen Technology, Inc.
- ABB Ltd
- Aptean
- Pitney Bowes Inc.
- CGI, Inc.
- IFS AB
- WSP Global Inc.
- RPS Group Plc.
- Brookfield Asset Management Inc.
Go through the table of content of Asset Management Software Industry Data Book to get a better understanding of the Coverage & Scope of the study
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Absolute Markets Insights has added comprehensive analytical data to its massive repository titled Pharmaceutical Asset Management Software market.
The report highlights significant market players operating in global regions such as North America, Latin America, Europe, Asia-Pacific, and India.
Different graphical presentation techniques such as charts, graphs, table, and pictures have been used while curating the report.
Additionally, the report also provides a detailed description of several attributes such as manufacturing base, raw material, technical advancements, demanding trends, marketing channels, and business models.
With the help of facts and figures of import and exports, local consumption, buyers, sellers and distributors better market insights into the businesses are provided, which is one of the many distinctive features of the report.Global competitors such as ABB Asea Brown Boveri Ltd, Aspen Technology, Inc., AVEVA Group plc, Flowserve Corporation, Perigord Life Science Artwork Solutions, Emerson Electric Co., Schneider Electric SE, Yokogawa Electric Corporation, Siemens AG, Honeywell International Inc are underlined in order to get a stronger and effective outlook of the competition on the domestic as well global front.
The report presents market data by applying primary and secondary research techniques.In terms of revenue, global pharmaceutical asset management software market was valued at US$ 380.72 Mn in 2020 and is expected to reach US$ 1153.51 Mn by 2030, growing at an estimated CAGR of 13.2% over the forecast period (2020 – 2030).
