Asset Management Software Industry Data Book | Forecast 2030
Table Of Contents
Asset Management Software Industry Data Book | Forecast 2030
Asset Management Software Industry Data Book – Asset Performance Management, Enterprise Asset Management, Infrastructure Asset Management Market
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 asset performance management market is gaining traction owing to the rapid industrial shift towards digitization of monitoring and maintenance activities. The companies are actively investing in digital solutions to manage their assets
The use of advanced processes and tools such as regression analysis, neural network analysis, Monte Carlo simulation, and so on in the APM systems is driving the growth of the predictive asset management segment
The public cloud segment is expected to register significant growth during the forecast period as it helps businesses in improving cost structures and setting up a control center to arrange, monitor, and coordinate various components of their businesses
The manufacturing industry segment held a significant share of the market owing to the presence of many small and large manufacturing plants across the globe
Asia Pacific is anticipated to register the highest growth rate during the forecast period owing to the increasing popularity of social media, growing investments by tech giants in establishing IT infrastructures in this region, and the rising preference for e-commerce and m-commerce, particularly in emerging economies such as India, Indonesia, and Thailand
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The cloud service segment is anticipated to emerge as the fastest-growing solution segment over the forecast period. Organizations that want to control customer and company information security tend to prefer the on-premises version of EAM. A company’s internal IT team is responsible for setting up, hosting, and managing this deployment
The small & medium enterprise segment is anticipated to emerge as the fastest-growing solution segment from 2023-2030. SMEs are starting to invest in cloud-based EAM software and transition to upgraded solutions. It has a low initial investment requirement, enables users to manage assets remotely, and allows for mobile usage, giving workers more freedom in their jobs
The government segment is anticipated to emerge as the fastest-growing solution segment over the forecast period. Government organizations can boost accountability and transparency throughout the entire organization and extend the life of their most valuable assets by implementing EAM software
The APAC market is estimated to be the fastest-growing segment, offering lucrative growth opportunities for the industry players. Businesses in APAC countries such as India still in the development stage are focusing on globalization to build a regional economic outlook and get traction in the local EAM market
North American is expected to witness significant growth over the forecast period owing to the growing need to increase asset utilization while reducing operational costs
Vendors are focusing on establishing tie-ups with software development firms for developing infrastructure asset management solutions, hence companies that provide IAM services are facilitated by international water association
IAM solutions are becoming popular among municipalities as they combine features such as a systematic and combined, approach for managements of varied infrastructure in sectors such as energy, water, and waste
Transportation infrastructure segment has captured a large percentage of market share owing to the huge investments for the development of transportation infrastructure
City authorities across the globe are stressing on creating sustainable living standards by investing in the development of infrastructure asset management systems for energy and water infrastructure
Key players in the Infrastructure Asset Management (IAM) market are WSP Global Inc.; RPS Group Plc.; Brookfield Asset Management Inc.; Macquarie Group Limited; SIMCO Technologies; Pitney Bowes Inc.; and WS Atkins Limited
Competitive Landscape
The market is competitive with the presence of major players 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. among others. The companies are adopting several growth strategies, such as partnerships, mergers & acquisitions, and product launches, to stay afloat in the competitive industry. For instance, in July 2022, Pitney Bowes Inc. expanded its designed delivery services to the Canadian market. The tailored services would enable Canadian retailers to optimize customer order experience. The services facilitate sortation facilities in populated coastal areas to offer transit times across Canada, leveraging various delivery provider partnerships to improve performance and cost with a single invoice and customized tracking application with no additional charge. By combining proprietary market and consumer insights with advanced modelling technology, Pitney Bowes provided its clients with the Designed Delivery service that customized the solution based on each shipper’s need.
