Overview and Scope
Fixed asset management software refers to software developed to track the MRO (Maintenance, repair, and operations) lifecycle and maintain depreciation values on assets such as land, buildings, automobiles, furniture, office equipment, computers, and other non-cash things. Fixed asset management software’s primary goal is to reduce lost inventory, equipment failures, and downtime and enhance the asset’s lifetime value.
Sizing and Forecast
The fixed asset management software market size has grown rapidly in recent years. It will grow from $3.8 billion in 2023 to $4.24 billion in 2024 at a compound annual growth rate (CAGR) of 11.5%. The growth in the historic period can be attributed to manual processes replacement, data centralization, lifecycle management requirements, efficiency and productivity improvement, growth in it industry
The fixed asset management software market size is expected to see rapid growth in the next few years. It will grow to $6.65 billion in 2028 at a compound annual growth rate (CAGR) of 11.9%. The growth in the forecast period can be attributed to ai-driven decision-making, industry-specific solutions development, remote monitoring sophistication, cost efficiency priority, integration with business systems, mobile accessibility enhancement, rise in remote work. Major trends in the forecast period include digitization of asset management, advancements in technology, compliance requirements, data security concerns..
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Segmentation & Regional Insights
The fixed asset management software market covered in this report is segmented –
1) By Component: Software, Services
2) By Deployment Type: On-Premises, Cloud
3) By Organization Size: Large enterprises, Small- & medium-sized enterprises
4) By End Users: Energy and utilities, Manufacturing, IT, Telecom and media, Transportation and logistics, Healthcare and life science, Others end users (BFSI, retail, and government)
Asia-Pacific was the largest region in the fixed asset management software market share in 2023 and is expected to be the fastest-growing region in the forecast period. The regions covered in the fixed asset management software market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The increasing demand for fixed assets over multiple verticals is expected to propel the demand for fixed asset management software going forward. Fixed assets are assets that are used in corporate operations and generate a long-term financial advantage. The company utilizes fixed assets to manufacture goods and services and generate money. They are not sold to customers or held as an investment. Due to such benefits of investing into fixed assets, businesses use fixed asset management software to monitor equipment and vehicles, evaluate their condition, keep them in good operating order, reduce lost inventory, equipment failures, and downtime, and increase the asset’s lifetime value. For instance, In July 2022, accoroding to a report published by Government of china, from January to June, national fixed asset investment (excluding rural households) totaled 27,143 billion yuan, a 6.1% rise year on year. Addtionally, the private fixed asset investment was 15,307.4 billion yuan, a 3.5% rise year on year. Therefore, an increasing investment and demand for fixed assets over multiple verticals will drive the fixed asset management software market.
Key Industry Players
Major companies operating in the fixed asset management software market report are International Business Machines Corporation, Infor Inc., Tracet Enterprise, Microsoft Corporation, Oracle America Inc., Sage Software Inc., Aptean India Pvt Ltd., Aveva Group plc, SAP SE, Ramco Systems Limited, Xero Limited, FMIS Ltd., AssetWorks LLC, RCS Tech LLP, InfoFort LLC., Asset Panda LLC., Expresstech Holdings Inc., ManageEngine AssetExplorer, UpKeep Technologies Inc., InvGate Assets, AssetCloud by Wasp Barcode Technologies, Cheqroom NV, Ivanti Inc., Nektar Data Systems Inc., Asset4000, Bloomberg Tax Fixed Assets, FlexiInternational Software Inc., Deltek Inc., Reftab LLC, EZOfficeInventory
The fixed asset management software market report table of contents includes:
1. Executive Summary
2. Fixed Asset Management Software Market Characteristics
3. Fixed Asset Management Software Market Trends And Strategies
4. Fixed Asset Management Software Market – Macro Economic Scenario
5. Global Fixed Asset Management Software Market Size and Growth
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26. South America Fixed Asset Management Software Market
27. Brazil Fixed Asset Management Software Market
28. Middle East Fixed Asset Management Software Market
29. Africa Fixed Asset Management Software Market
30. Fixed Asset Management Software Market Competitive Landscape And Company Profiles
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