Asset management refer to software systems or platforms designed to help businesses effectively track, monitor, and manage their assets throughout their lifecycle. These assets can include physical items like equipment, machinery, vehicles, or inventory, as well as intangible assets such as software licenses, patents, or intellectual property. In addition, asset management solutions provide real-time visibility into the location, status, and condition of assets. This enables businesses to track and locate assets easily, minimizing loss or theft, and optimizing asset utilization.
The asset management market is driven by several factors which include a rising need for optimum utilization of assets, which has led organizations to seek effective asset management solutions. In addition, the increasing adoption of cloud-based IT asset management solutions offers enhanced flexibility, scalability, and accessibility for businesses. However, the high initial costs of asset management systems are hampering the market growth, particularly for smaller businesses with limited resources. Moreover, the lack of awareness and understanding among SMEs hinders their adoption of asset management solutions. Furthermore, budget constraints can impede the market's expansion, as organizations may face financial limitations in implementing such systems. On the contrary, the market also presents opportunities, such as the expansion of interconnected IT infrastructure, which creates a greater demand for robust asset management solutions.
The asset management market is segmented on the basis of component, asset type, function, and application. Based on component, the market is bifurcated into solution and service. On the basis of asset type, it is divided into digital assets, returnable transport assets, in-transit assets, manufacturing assets, and personnel/staff. By function, it is classified into location & movement tracking, check-in/check-out, repair & maintenance, and others. As per application, it is segmented into infrastructure asset management, enterprise asset management, healthcare asset management, aviation asset management, and other. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The report analyzes the profiles of key players operating in the asset management market such as ABB, BlackRock, Inc., Charles Schwab Investment Management, Inc., FMR LLC., IBM Corporation, J.P. Morgan Chase & Co., Morgan Stanley, Oracle Corporation., Rockwell Automation Inc., and SAP SE. These players have adopted various strategies to increase their market penetration and strengthen their position in the asset management market.
The asset management market is driven by several factors which include a rising need for optimum utilization of assets, which has led organizations to seek effective asset management solutions. In addition, the increasing adoption of cloud-based IT asset management solutions offers enhanced flexibility, scalability, and accessibility for businesses. However, the high initial costs of asset management systems are hampering the market growth, particularly for smaller businesses with limited resources. Moreover, the lack of awareness and understanding among SMEs hinders their adoption of asset management solutions. Furthermore, budget constraints can impede the market's expansion, as organizations may face financial limitations in implementing such systems. On the contrary, the market also presents opportunities, such as the expansion of interconnected IT infrastructure, which creates a greater demand for robust asset management solutions.
The asset management market is segmented on the basis of component, asset type, function, and application. Based on component, the market is bifurcated into solution and service. On the basis of asset type, it is divided into digital assets, returnable transport assets, in-transit assets, manufacturing assets, and personnel/staff. By function, it is classified into location & movement tracking, check-in/check-out, repair & maintenance, and others. As per application, it is segmented into infrastructure asset management, enterprise asset management, healthcare asset management, aviation asset management, and other. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The report analyzes the profiles of key players operating in the asset management market such as ABB, BlackRock, Inc., Charles Schwab Investment Management, Inc., FMR LLC., IBM Corporation, J.P. Morgan Chase & Co., Morgan Stanley, Oracle Corporation., Rockwell Automation Inc., and SAP SE. These players have adopted various strategies to increase their market penetration and strengthen their position in the asset management market.
Key Benefits for Stakeholders
- The study provides an in-depth analysis of the global Asset Management market along with the current & future trends to illustrate the imminent investment pockets.
- Information about key drivers, restraints, & opportunities and their impact analysis on the global Asset Management market size are provided in the report.
- Porter’s five forces analysis illustrates the potency of buyers and suppliers operating in the industry.
- The quantitative analysis of the global Asset Management market from 2023 to 2032 is provided to determine the market potential.
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Key Market Segments
By Component
- Solution
- Service
By Asset Type
- Digital Assets
- Returnable Transport Assets
- In-transit Assets
- Manufacturing Assets
- Personnel/ Staff
By Function
- Location and Movement Tracking
- Check-In/ Check-Out
- Repair and Maintenance
- Others
By Application
- Infrastructure Asset Management
- Enterprise Asset Management
- Healthcare Asset Management
- Aviation Asset Management
- Others
By Region
- North America
- U.S.
- Canada
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa
Key Market Players
- ABB
- BlackRock, Inc.
- Charles Schwab Investment Management, Inc.
- FMR LLC.
- IBM Corporation
- J.P. Morgan Chase & Co.
- Morgan Stanley
- Oracle Corporation
- Rockwell Automation Inc.
- SAP SE
Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: ASSET MANAGEMENT MARKET, BY COMPONENT
CHAPTER 5: ASSET MANAGEMENT MARKET, BY ASSET TYPE
CHAPTER 6: ASSET MANAGEMENT MARKET, BY FUNCTION
CHAPTER 7: ASSET MANAGEMENT MARKET, BY APPLICATION
CHAPTER 8: ASSET MANAGEMENT MARKET, BY REGION
CHAPTER 9: COMPETITIVE LANDSCAPE
CHAPTER 10: COMPANY PROFILES
List of Tables
List of Figures
Executive Summary
According to this report, the asset management market was valued at $376.82 billion in 2022, and is estimated to reach $8280.7 billion by 2032, growing at a CAGR of 36.5% from 2023 to 2032.The asset management market is likely to experience a significant growth rate of 36.5% from 2023-2032 owing to rise in the need for optimum utilization of assets in asset managements
Asset management refers to the professional management of various types of assets, such as financial investments, real estate properties, infrastructure, or other tangible and intangible assets, on behalf of individuals, organizations, or institutions. The asset management market, often known as the investment management sector, covers a wide range of services and activities aimed at maximizing asset value and delivering optimal returns for investors. Furthermore, asset management firms hire skilled experts with considerable knowledge and experience in analyzing and managing various sorts of assets. They use a variety of methods, research, and risk management techniques to help their customers make informed financial decisions. In addition, individual investors may not have easy access to a large range of investment alternatives that asset managers offer. Private equity, hedge funds, infrastructure projects, and real estate investment trusts (REITs) are examples of alternative investments. Asset managers may be able to improve returns and manage risk more efficiently by diversifying into these specialized investments. Moreover, risk management approaches are used by asset managers to limit potential losses and protect investors' wealth. They employ sophisticated methods to identify and manage the risks associated with various asset classes, including market volatility, credit risk, liquidity risk, and interest rate variations. Furthermore, asset management organizations frequently handle enormous asset pools, which can result in economies of scale. Asset managers can obtain lower transaction costs, better terms with service providers, and more favorable investment pricing by pooling money from different clients.
The asset management market is influenced by several major drivers, restraints, and opportunities. With the rise in the need for optimum utilization of assets, the asset management organization is seeing a considerable increase in the demand for optimal asset utilization. Organizations in a variety of industries recognize the value of successfully managing their assets in order to increase operational efficiency and create cost savings. Companies can maximize their value and reduce costs by ensuring efficient asset utilization. Furthermore, the emphasis on cost optimization is a primary driver of this trend. Organizations are actively looking for ways to cut unnecessary expenditures on asset maintained, repairs, and replacement. Companies can save money by properly managing assets and extending their lifespan through good maintenance. Owing to this, there is a greater need for asset management solutions that provide insights into asset performance, maintenance schedules, and utilization trends. Hence, the rise in the need for optimum asset utilization has fueled the growth of the asset management market. However, the high initial costs involved are the major challenges associated with implementing an asset management system. There is the expense of acquiring the asset management system's software or technology. The software itself can be quite expensive, depending on the system's complexity and scope. Furthermore, organizations may need to invest in specialized hardware or infrastructure to support the system, raising the initial expenses even higher. Moreover, implementing an asset management system frequently necessitates substantial customization and modification to meet the specific objectives and processes of the organization. This customization process can be time-consuming and expensive, requiring specialized people or outside consultants. Furthermore, organizations must factor in the costs of data migration and integration with existing systems. Transferring and aggregating data from several sources into the asset management system can be a difficult and time-consuming operation. It could include data cleansing, mapping, and assuring data quality, all of which can add to the cost. On the contrary, the fast growth of interconnected IT infrastructure is opening up a number of attractive opportunities for the asset management industry. With the increasing digitization of organizations across numerous industries, the number of devices, systems, and networks that comprise the modern IT ecosystem has increased significantly. Because of this interconnection, these assets generate a massive amount of data, including information on their performance, health, and utilization. Furthermore, organizations are turning to advanced asset management systems to properly manage these assets and maximize their value. These solutions make use of cutting-edge technology like the Internet of Things (IoT), artificial intelligence (AI), and big data analytics to monitor, track, and optimize asset performance in real-time. They give organizations a comprehensive perspective of their assets, allowing them to make data-driven decisions about maintenance, upgrades, and replacements. Hence, the expansion of interconnected IT infrastructure presents lucrative opportunities for the asset management market.
The asset management market is segmented on the basis of component, asset type, function, application and region. By component, it is segmented into solution and service. By asset type, it is segmented into digital asset, returnable transport assets, In-transit asset, manufacturing asset and personal/staff. By function, it is segmented into location and movement tracking, check-in/check-out, repair and maintenance and others. By application, it is segmented into infrastructure asset management, enterprise asset, healthcare asset, aviation asset, and others. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The report analyzes the profiles of key players operating in asset management market such as ABB, BlackRock, Inc., Charles Schwab Investment Management, Inc., FMR LLC., IBM Corporation, J. P. Morgan Chase & Co., Morgan Stanley, Oracle Corporation., Rockwell Automation Inc., and SAP SE. These players have adopted various strategies to increase their market penetration and strengthen their position in the asset management industry.
Key Market Insights
By component, the solution segment accounted for the highest asset management market share in 2022.By asset type, the digital asset segment accounted for the highest asset management market share in 2022.
By function, the location and movement tracking segment accounted for the highest asset management market share in 2022.
By application, the aviation asset segment accounted for the highest asset management market share in 2022.
By region, North America generated the highest revenue in 2022.
Companies Mentioned
- ABB
- BlackRock, Inc.
- Charles Schwab Investment Management, Inc.
- FMR LLC.
- IBM Corporation
- J.P. Morgan Chase & Co.
- Morgan Stanley
- Oracle Corporation
- Rockwell Automation Inc.
- SAP SE
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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