Asset Management Systems Market Overview
According to a new report published by Introspective Market Research, titled, “Asset Management Systems Market by Application and Packaging Type: Global Opportunity Analysis and Industry Forecast, 2024–2032,”
The global Asset Management Systems Market size was valued at $ 501.12 billion in 2023, and is projected to reach $ 7976.12 billion by 2032, registering a CAGR of 36% from 2023 to 2032.
Asset management is the art and science of making decisions that optimize value creation according to the organization's stated goals. It is a key enabler and platform that drives business strategy to shape the strategic value of assets, optimize their life cycle, and reduce asset life cycle costs and environmental impacts. It is a tool for investing, planning, and preserving the value of assets in the circular economy. By using asset management principles to adapt their business models, organizations can move towards closed-loop systems that optimize asset performance and extend lifespan.
The increasing incorporation of blockchain technology into asset tracking is strengthening the asset management industry. Blockchain technology was discovered for its ability to provide secure and transparent accounting for asset tracking and management, primarily in healthcare and real estate, where data integrity and attribution are critical. Organizations around the world are focused on the best use and performance of their physical resources such as machines and infrastructure. Equipment and vehicles. Enterprise Asset Management (EAM) supports the optimization of assets and minimization of disruptions. Many industries have strict control requirements and an EAM system helps ensure that assets meet compliance standards, thereby reducing the risk of fines and legal responsibility.
In the healthcare industry, monitoring staff and equipment can help improve patient care. Digitization has opened enormous opportunities for asset management organizations to improve their customer relationships. Asset-intensive organizations have realized that in the face of increasing competition, the success or failure of their business depends on solving complex management problems. Therefore, many asset-intensive organizations invest in advanced and innovative solutions to significantly change and improve their operational processes.
The Asset Management Systems Market is segmented based on components, asset types, industry, function, application, and Region.
Industry Type:
The acceleration of digitization in various parts of the world and the availability of more and more data and images through global information systems determine sales in the GPS segment. Integrating GPS into companies or organizations increases efficiency, maintenance, and development. The growing use of asset management solutions in the healthcare, energy, transportation, manufacturing, and IT industries is driving segment growth. The adoption of cutting-edge technology in these solutions such as telematics, sensors, artificial intelligence, and others creates a favorable environment for market growth.
Application Type:
The Application segment is further classified into the Infrastructure, Enterprise, Healthcare, and Aviation industry. Among these, the Aviation sub-segment is anticipated to show the fastest growth by 2032. More than 78.8% of asset management sales are expected to be concentrated in the aviation sector. Growing air traffic and the introduction of new aircraft models increase the need for asset management solutions. As the aviation industry is highly dependent on many independent assets, the need for asset management solutions has increased. Major vendors are expanding their asset management solutions to meet the growing demand for increased profitability and reliability. Additionally, the infrastructure segment will witness the highest growth during the forecast period. To reduce costs related to infrastructure maintenance and acquisition, leading companies implement asset management solutions with advanced technologies. This is expected to create profitable growth opportunities for the market
Market Segmentation
By Component
- Solutions
- Services
By Asset
- Digital
- In-transit
Region:
North America is expected to be the fastest-growing market during the forecast period. The growth is mainly driven by the expansion of the IT and telecommunications, infrastructure, and space industries in the United States. get up as a result, sales of asset management solutions in North America are expected to account for nearly 32% of demand. The growing number of new companies and the development of modern infrastructure in the country are driving growth in the region. The spread of cloud-based solutions and the adoption of artificial intelligence, big data, and IoT in various industries, especially in India and China, are driving the demand in the Asia Pacific region.
Some of The Leading/Active Market Players Are-
- Apollo Global Management (U.S.)
- Ares Management (U.S.)
- Blue Owl Capital (U.S.)
- SEI Investments (U.S.)
- Corebridge Financial (U.S.)
- Brookfield Corporation (Canada)
- Power Financial (Canada)
- Legal & General (U.K.)
- Amundi (France)
- DWS Group (Germany) Other Active Players
Key Industry Developments
- In February 2024: Amundi announced that it had entered into a binding agreement to acquire Alpha Associates, an independent asset manager providing multi-manager investment solutions to the private market. This acquisition makes Amundi a European leader in this sector, with a team of more than 70 experts, assets under management of approximately 20 billion euros, and a strengthened multi-manager offer covering private debt, infrastructure, private equity, and venture capital. and with an expanded customer and geographic footprint. It also increases the presence of secondary transactions, which is an important feature in today's market. The transaction enhances Amundi's offering of private market funds and customized solutions to its existing institutional clients worldwide. Finally, it accelerates the development of private market products suitable for individual customers.
- In April 2024: Blue Owl Capital successfully acquired Kuvare Asset Management for $750 million. Blue Owl Capital Inc. is a chief asset manager. announced that it has entered into a definitive agreement to acquire Kuvare Insurance Services (dba Kuvare Asset Management) for $750 million. KAM is a boutique investment management company focused on providing asset management services to the insurance industry, including properties in Kuvare UK.
Key Findings of the Study
- In the application segment, aviation is expected to grow the fastest due to increasing air traffic and the introduction of new aircraft models, which leads to high demand for asset management solutions.
- North America is expected to be the fastest-growing market driven by IT, telecommunications, and infrastructure, and the expansion of the aerospace industry and cloud-based solutions and emerging technologies will drive growth in the Asia-Pacific region, particularly India and China.
- Infrastructure is expected to grow the most as it leads the way. companies implement asset management solutions with advanced technologies to reduce maintenance and acquisition costs.
