Asset Management Market Size, Share & Analysis Report, 2023-2032
The global asset management market size was exhibited at USD 375.19 billion in 2022 and is projected to hit around USD 7,582.99 billion by 2032, growing at a CAGR of 35.07% during the forecast period 2023 to 2032.
Key Pointers:
Asset Management Market Report Scope
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Report Coverage |
Details |
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Market Size in 2023 |
USD 506.77 Billion |
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Market Size by 2032 |
USD 7,582.99 Billion |
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Growth Rate From 2023 to 2032 |
CAGR of 35.07% |
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Base Year |
2022 |
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Forecast Period |
2023 to 2032 |
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Segments Covered |
By Component, By Asset Type, and By Application |
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Market Analysis (Terms Used) |
Value (US$ Million/Billion) or (Volume/Units) |
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Regional Scope |
North America; Europe; Asia Pacific; Central and South America; the Middle East and Africa |
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Key Companies Profiled |
IBM Corporation, SAP SE, Oracle Corporation, Infor Inc., ABB Ltd., CGI Group Inc., Hitachi Ltd., Siemens AG, Schneider Electric SE, General Electric Company, Cisco Systems Inc., Johnson Controls International plc, Rockwell Automation Inc., Wipro Limited, Honeywell International Inc. and Others. |
The marketgrowth is attributed to rapid digital change, technological advances, and the efforts of test asset management in the industry. The capacity to portray a virtuous cycle of leadership visions, such as a robust talent model, employee resilience, operational improvements, stakeholder alignment, and culture strengthening, expand industry growth. Organizations have a plethora of chances to strengthen customer-centric relationships due to digitalization. The asset-intensive organization faces increased competition and reliance on the success or failure of the businesses involved in their management abilities.
Several companies are now investing in technological advancements, such as ArtificialIntelligence (AI), predictive maintenance, AugmentedReality (AR), the Internet of Things (IoT), and more. The implementation of contemporary management methods contributes to asset lifespan.The capabilities of asset management solutions to streamline operations, optimize the utilization of existing resources, and subsequently help enterprises save costs, enhance profits, & improve the Return on Investment (RoI) are expected to drive the industry growth. Rapid digitization and easy availability of orthorectified images through satellites have enabled the use of Geographical Information Systems (GIS).
GIS enables better planning, designing, developing, and maintaining assets in industries, such as the energy and transportation sectors. These solutions and services help organizations in reducing inventory & stock management costs. They also help enterprises utilize their existing assets efficiently by tracking and managing them in real time. Furthermore, the global industry is seeing new prospects as demand for image-based barcode scanners grows. The increased use of barcode readers, particularly image-based barcode readers, across various business verticals, such as transportation and logistics, healthcare, consumer products, and others, presents significant opportunities.
Image-based barcode scanners are progressively replacing laser scanners. Compared to 2D barcode tags, 1D barcode tags transmit less information (data matrix and QR codes). In terms of cost, long-term durability, and 2D multiple code reading capacity, image-based barcodes are also more efficient. Asset management solutions also help organizations utilize their assets efficiently by providing vital statistics on the utilization of the assets and making favorable recommendations to optimize the utilization. The assets’ life and value can be increased and the RoI can be improved. Personnel tracking solutions can help organizations ensure workforce safety and enhance workforce efficiency.
In the healthcare industry, tracking personnel and equipment can help enhance patient care. Digitization has opened immense opportunities for organizations to enhance their relationship with customers. Asset-intensive organizations have realized that amid the intensifying competition, the success or failure of their business depends on addressing the complexities involved in their management.Hence, several asset-intensive organizations are investing in advanced and innovative solutions to significantly transform and upgrade their operational processes. The high capital investment associated with implementing management solutions is emerging as one of the major factors restraining industry growth.
Offerings based on Real-Time Location System (RTLS) can reduce the workforce’s costs and boost resource utilization efficiency across various industries and industry verticals. However, these offerings can be highly capital-intensive. With the prices of some of the components associated with the solutions, such as readers and tags, plummeting, the overall costs of these systems are expected to remain high, mainly owing to the costs associated with software and servers and maintenance services.On-premise solutions typically consume more time, capital, and space. Moreover, skilled professionals are required to maintain and operate on-premises solutions.
On the contrary, cloud-based solutions and services eliminate the need to install additional hardware as they can be accessed on all sorts of basic devices, such as smartphones, tablets, laptops, and personal computers. Cloud-based solutions also ensure reliability and easy availability of data as they store it in various data centers across the globe. In addition, cloud-based solutions make it easier for organizations to secure business intelligence and optimize the use and value of the assets available to them. Hence, cloud-based solutions and services are gaining popularity among enterprises across various geographies. Asset-intensive organizations and businesses are managing to gain access to the latest hardware, software, and service features available in the market by implementing cloud-based solutions.
Some of the prominent players in the Asset Management Market include:
Segments Covered in the Report
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2032. For this study, Nova one advisor, Inc. has segmented the global Asset Management market.
By Component
By Asset Type
By Application
By Region
Chapter 1. Introduction
1.1. Research Objective
1.2. Scope of the Study
1.3. Definition
Chapter 2. Research Methodology (Premium Insights)
2.1. Research Approach
2.2. Data Sources
2.3. Assumptions & Limitations
Chapter 3. Executive Summary
3.1. Market Snapshot
Chapter 4. Market Variables and Scope
4.1. Introduction
4.2. Market Classification and Scope
4.3. Industry Value Chain Analysis
4.3.1. Raw Material Procurement Analysis
4.3.2. Sales and Distribution Channel Analysis
4.3.3. Downstream Buyer Analysis
Chapter 5. COVID 19 Impact on Asset Management Market
5.1. COVID-19 Landscape: Asset Management Industry Impact
5.2. COVID 19 - Impact Assessment for the Industry
5.3. COVID 19 Impact: Global Major Government Policy
5.4. Market Trends and Opportunities in the COVID-19 Landscape
Chapter 6. Market Dynamics Analysis and Trends
6.1. Market Dynamics
6.1.1. Market Drivers
6.1.2. Market Restraints
6.1.3. Market Opportunities
6.2. Porter’s Five Forces Analysis
6.2.1. Bargaining power of suppliers
6.2.2. Bargaining power of buyers
6.2.3. Threat of substitute
6.2.4. Threat of new entrants
6.2.5. Degree of competition
Chapter 7. Competitive Landscape
7.1.1. Company Market Share/Positioning Analysis
7.1.2. Key Strategies Adopted by Players
7.1.3. Vendor Landscape
7.1.3.1. List of Suppliers
7.1.3.2. List of Buyers
Chapter 8. Global Asset Management Market, By Component
8.1. Asset Management Market, by Component, 2023-2032
8.1.1 Solution
8.1.1.1. Market Revenue and Forecast (2020-2032)
8.1.2. Service
8.1.2.1. Market Revenue and Forecast (2020-2032)
Chapter 9. Global Asset Management Market, By Asset Type
9.1. Asset Management Market, by Asset Type, 2023-2032
9.1.1. Digital Assets
9.1.1.1. Market Revenue and Forecast (2020-2032)
9.1.2. Returnable Transport Assets
9.1.2.1. Market Revenue and Forecast (2020-2032)
9.1.3. In-transit Assets
9.1.3.1. Market Revenue and Forecast (2020-2032)
9.1.4. Manufacturing Assets
9.1.4.1. Market Revenue and Forecast (2020-2032)
9.1.5. Personnel/ Staff
9.1.5.1. Market Revenue and Forecast (2020-2032)
Chapter 10. Global Asset Management Market, By Application
10.1. Asset Management Market, by Application, 2023-2032
10.1.1. Infrastructure Asset Management
10.1.1.1. Market Revenue and Forecast (2020-2032)
10.1.2. Enterprise Asset Management
10.1.2.1. Market Revenue and Forecast (2020-2032)
10.1.3. Healthcare Asset Management
10.1.3.1. Market Revenue and Forecast (2020-2032)
10.1.4. Aviation Asset Management
10.1.4.1. Market Revenue and Forecast (2020-2032)
10.1.5. Others
10.1.5.1. Market Revenue and Forecast (2020-2032)
Chapter 11. Global Asset Management Market, Regional Estimates and Trend Forecast
11.1. North America
11.1.1. Market Revenue and Forecast, by Component (2020-2032)
11.1.2. Market Revenue and Forecast, by Asset Type (2020-2032)
11.1.3. Market Revenue and Forecast, by Application (2020-2032)
11.1.4. U.S.
11.1.4.1. Market Revenue and Forecast, by Component (2020-2032)
11.1.4.2. Market Revenue and Forecast, by Asset Type (2020-2032)
11.1.4.3. Market Revenue and Forecast, by Application (2020-2032)
11.1.5. Rest of North America
11.1.5.1. Market Revenue and Forecast, by Component (2020-2032)
11.1.5.2. Market Revenue and Forecast, by Asset Type (2020-2032)
11.1.5.3. Market Revenue and Forecast, by Application (2020-2032)
11.2. Europe
11.2.1. Market Revenue and Forecast, by Component (2020-2032)
11.2.2. Market Revenue and Forecast, by Asset Type (2020-2032)
11.2.3. Market Revenue and Forecast, by Application (2020-2032)
11.2.4. UK
11.2.4.1. Market Revenue and Forecast, by Component (2020-2032)
11.2.4.2. Market Revenue and Forecast, by Asset Type (2020-2032)
11.2.4.3. Market Revenue and Forecast, by Application (2020-2032)
11.2.5. Germany
11.2.5.1. Market Revenue and Forecast, by Component (2020-2032)
11.2.5.2. Market Revenue and Forecast, by Asset Type (2020-2032)
11.2.5.3. Market Revenue and Forecast, by Application (2020-2032)
11.2.6. France
11.2.6.1. Market Revenue and Forecast, by Component (2020-2032)
11.2.6.2. Market Revenue and Forecast, by Asset Type (2020-2032)
11.2.6.3. Market Revenue and Forecast, by Application (2020-2032)
11.2.7. Rest of Europe
11.2.7.1. Market Revenue and Forecast, by Component (2020-2032)
11.2.7.2. Market Revenue and Forecast, by Asset Type (2020-2032)
11.2.7.3. Market Revenue and Forecast, by Application (2020-2032)
11.3. APAC
11.3.1. Market Revenue and Forecast, by Component (2020-2032)
11.3.2. Market Revenue and Forecast, by Asset Type (2020-2032)
11.3.3. Market Revenue and Forecast, by Application (2020-2032)
11.3.4. India
11.3.4.1. Market Revenue and Forecast, by Component (2020-2032)
11.3.4.2. Market Revenue and Forecast, by Asset Type (2020-2032)
11.3.4.3. Market Revenue and Forecast, by Application (2020-2032)
11.3.5. China
11.3.5.1. Market Revenue and Forecast, by Component (2020-2032)
11.3.5.2. Market Revenue and Forecast, by Asset Type (2020-2032)
11.3.5.3. Market Revenue and Forecast, by Application (2020-2032)
11.3.6. Japan
11.3.6.1. Market Revenue and Forecast, by Component (2020-2032)
11.3.6.2. Market Revenue and Forecast, by Asset Type (2020-2032)
11.3.6.3. Market Revenue and Forecast, by Application (2020-2032)
11.3.7. Rest of APAC
11.3.7.1. Market Revenue and Forecast, by Component (2020-2032)
11.3.7.2. Market Revenue and Forecast, by Asset Type (2020-2032)
11.3.7.3. Market Revenue and Forecast, by Application (2020-2032)
11.4. MEA
11.4.1. Market Revenue and Forecast, by Component (2020-2032)
11.4.2. Market Revenue and Forecast, by Asset Type (2020-2032)
11.4.3. Market Revenue and Forecast, by Application (2020-2032)
11.4.4. GCC
11.4.4.1. Market Revenue and Forecast, by Component (2020-2032)
11.4.4.2. Market Revenue and Forecast, by Asset Type (2020-2032)
11.4.4.3. Market Revenue and Forecast, by Application (2020-2032)
11.4.5. North Africa
11.4.5.1. Market Revenue and Forecast, by Component (2020-2032)
11.4.5.2. Market Revenue and Forecast, by Asset Type (2020-2032)
11.4.5.3. Market Revenue and Forecast, by Application (2020-2032)
11.4.6. South Africa
11.4.6.1. Market Revenue and Forecast, by Component (2020-2032)
11.4.6.2. Market Revenue and Forecast, by Asset Type (2020-2032)
11.4.6.3. Market Revenue and Forecast, by Application (2020-2032)
11.4.7. Rest of MEA
11.4.7.1. Market Revenue and Forecast, by Component (2020-2032)
11.4.7.2. Market Revenue and Forecast, by Asset Type (2020-2032)
11.4.7.3. Market Revenue and Forecast, by Application (2020-2032)
11.5. Latin America
11.5.1. Market Revenue and Forecast, by Component (2020-2032)
11.5.2. Market Revenue and Forecast, by Asset Type (2020-2032)
11.5.3. Market Revenue and Forecast, by Application (2020-2032)
11.5.4. Brazil
11.5.4.1. Market Revenue and Forecast, by Component (2020-2032)
11.5.4.2. Market Revenue and Forecast, by Asset Type (2020-2032)
11.5.4.3. Market Revenue and Forecast, by Application (2020-2032)
11.5.5. Rest of LATAM
11.5.5.1. Market Revenue and Forecast, by Component (2020-2032)
11.5.5.2. Market Revenue and Forecast, by Asset Type (2020-2032)
11.5.5.3. Market Revenue and Forecast, by Application (2020-2032)
Chapter 12. Company Profiles
12.1. IBM Corporation
12.1.1. Company Overview
12.1.2. Product Offerings
12.1.3. Financial Performance
12.1.4. Recent Initiatives
12.2. SAP SE
12.2.1. Company Overview
12.2.2. Product Offerings
12.2.3. Financial Performance
12.2.4. Recent Initiatives
12.3. Oracle Corporation
12.3.1. Company Overview
12.3.2. Product Offerings
12.3.3. Financial Performance
12.3.4. Recent Initiatives
12.4. Infor Inc.
12.4.1. Company Overview
12.4.2. Product Offerings
12.4.3. Financial Performance
12.4.4. Recent Initiatives
12.5. ABB Ltd.
12.5.1. Company Overview
12.5.2. Product Offerings
12.5.3. Financial Performance
12.5.4. Recent Initiatives
12.6. CGI Group Inc.
12.6.1. Company Overview
12.6.2. Product Offerings
12.6.3. Financial Performance
12.6.4. Recent Initiatives
12.7. Hitachi Ltd.
12.7.1. Company Overview
12.7.2. Product Offerings
12.7.3. Financial Performance
12.7.4. Recent Initiatives
12.8. Siemens AG
12.8.1. Company Overview
12.8.2. Product Offerings
12.8.3. Financial Performance
12.8.4. Recent Initiatives
12.9. Schneider Electric SE
12.9.1. Company Overview
12.9.2. Product Offerings
12.9.3. Financial Performance
12.9.4. Recent Initiatives
12.10. General Electric Company
12.10.1. Company Overview
12.10.2. Product Offerings
12.10.3. Financial Performance
12.10.4. Recent Initiatives
Chapter 13. Research Methodology
13.1. Primary Research
13.2. Secondary Research
13.3. Assumptions
Chapter 14. Appendix
14.1. About Us
14.2. Glossary of Terms
Cross-segment Market Size and Analysis for
Mentioned Segments
Additional Company Profiles (Upto 5 With No Cost)
Additional Countries (Apart From Mentioned Countries)
Country/Region-specific Report
Go To Market Strategy
Region Specific Market DynamicsRegion Level Market Share Import Export AnalysisProduction AnalysisOthers