Asset Management Software Industry: Porter’s Five Forces Analysis

Posted on 2023-11-09 by researchinsights in Software, Technology // 0 Comments

Asset Management Software Industry Data Book – Asset Performance Management, Enterprise Asset Management, Infrastructure Asset Management Market Size, Share, Trends Analysis, And Segment Forecasts, 2023 – 2030

The global Asset Management Software Industry generated over USD 56.76 billion in 2022 and is expected to grow at a CAGR of 11.1% over the forecast period.

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.

Access the Global Asset Management Software Industry Data Book, 2023 to 2030, compiled with details like market sizing information & forecasts, trade data, pricing intelligence, competitive benchmarking, macro-environmental analyses, and regulatory & technological framework studies

Asset Performance Management Market Growth & Trends

The global asset performance management market size is expected to reach USD 47.18 billion by 2030, registering a CAGR of 12.0% from 2023 to 2030, according to a new study conducted by Grand View Research, Inc. The Asset Performance Management market has evolved during time in response to technological advancements and the changing needs of the incumbents in many end-use industries and sectors, particularly small and medium businesses.

The market for asset performance management is predicted to increase due to the growing usage of APM solutions to achieve operational excellence. Companies are becoming more capable of maximizing the use and upkeep of their operational assets, such as plants, equipment, and infrastructure. Heavy machinery, heavy equipment, turbine engines, power transformers, and other possessions are among the assets that firms adopting APM systems regularly monitor.

The market witnessed significant growth during the COVID-19 outbreak. Growth in the adoption of the work-from-home model by organizations created the need for secure, scalable, reliable, and cost-effective off-premises and virtual technology services. Organizations from all sectors invested considerably in cloud computing solutions to facilitate their operations and engage clients and employees effortlessly. Thus, asset performance management provided several growth opportunities to marketers during the pandemic.

Enterprise Asset Management Market Growth & Trends

The global enterprise asset management market size is estimated to reach a market size of USD 19.68 billion by 2030 and expand at a CAGR of 16.9% from 2023 to 2030, according to a new study by Grand View Research, Inc. The significant market growth can be attributed to the rising technical advancements, the growing acceptance of advanced technologies for developing asset lifecycles, and the advent of innovative digital technologies across industrial verticals, such as cloud-based EAM.

For instance, in April 2023, Ernst & Young LLP, a consulting company, announced a partnership with Asset Lifecycle Intelligence, a division of Hexagon AB, to offer asset performance management and enterprise asset management (EAM) technologies. Through the partnership, EY would help its customers track, monitor, and extract value from assets while mitigating risks such as unplanned costs and operational downtime to provide EAM and Asset Performance Management (APM) technologies as part of digital transformation and cloud migration initiatives through innovation and solution expertise.

For clients aiming to address business challenges and issues regarding assets, this alliance employs EAM and APM service offerings. To promote the sustainability of digital realities and promote autonomous futures, this partnership draws together technological expertise in sustainability, digital twin, cyber, supply chain, and manufacturing execution systems, along with installation and upgrade assistance.

Order your copy of the Free Sample of “Asset Management Software Industry Data Book – Asset Performance Management, Enterprise Asset Management, Infrastructure Asset Management Market Size, Share, Trends Analysis, And Segment Forecasts, 2023 – 2030” Data Book, published by Grand View Research

Infrastructure Asset Management Market Growth & Trends

The global infrastructure asset management market size is expected to reach USD 74.53 billion by 2030, registering a CAGR of 9.2% from 2023 to 2030, according to a new report by Grand View Research, Inc. Technological advancements such as Internet of Things (IoT) and automation for infrastructure have resulted in application of analytical and business intelligence tools for infrastructure management solutions.

Government agencies across the globe are emphasizing more on infrastructure management solutions by replacing traditional methods with technologies that use internet services such as GPS and cloud computing. Moreover, growing awareness pertaining to the benefits of IoT-based asset management solutions are further expected to drive the infrastructure asset management market growth.

Investments for road infrastructure management is expected to increase owing to the deployment of various smart city projects such as traffic management and parking management, among others in the upcoming years. Rapid adoption of technologically advanced systems in road infrastructure such as license plate recognition systems, traffic signal systems, and smart parking systems are further expected to drive the infrastructure asset management (IAM) market. Moreover, investments for energy sector grew significantly since 2016 due to the growing initiatives by governments for development of renewable energy generation projects, thus encouraging sustainable development.

Go through the table of content of Asset Management Software Industry Data Book to get a better understanding of the Coverage & Scope of the study

Competitive Landscape

Key players operating in the Asset Management Software industry are:

IFS AB
WSP Global Inc.
RPS Group Plc.
Brookfield Asset Management Inc.

Check out more Industry Data Books, published by Grand View Research

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

Matched content

Editor’s pick