Fixed Asset Management Software Global Market Report 2024

The global fixed asset management software market has grown rapidly in recent years. It will grow from $3.8 billion in 2023 to $4.24 billion in 2024 at a compound annual growth rate (CAGR) of 11.5%. Historical growth can be attributed to the replacement of manual processes, centralization of data, the increasing demand for lifecycle management, improvements in efficiency and productivity, and the expansion of the IT industry.

The global fixed asset management software market is expected to see rapid growth in the next few years. It will grow to $6.65 billion in 2028 at a compound annual growth rate (CAGR) of 11.9%. The projected growth in the forecast period is propelled by AI-driven decision-making, the development of industry-specific solutions, advancements in remote monitoring capabilities, a prioritization of cost efficiency, seamless integration with business systems, improved mobile accessibility, and the increasing prevalence of remote work. Major trends expected during this period encompass the digitization of asset management processes, ongoing advancements in technology, the evolving landscape of compliance requirements, and the growing concerns regarding data security within these solutions.

The increasing demand for fixed assets across various industries is set to boost the fixed asset management software market. Fixed assets, integral for business operations, necessitate monitoring and upkeep to ensure long-term financial gains. Businesses utilize fixed asset management software to monitor, evaluate, and maintain equipment, reducing inventory loss and downtime while optimizing asset longevity. For example, a report by the Chinese Government in July 2022 noted a 6.1% year-on-year rise in national fixed asset investment, totaling 27,143 billion yuan, emphasizing the escalating investment in fixed assets. Private fixed asset investment also saw a 3.5% year-on-year increase, reaching 15,307.4 billion yuan.

The escalating number of IoT-linked devices is anticipated to drive the fixed asset management software market. IoT devices contribute real-time data that facilitates predictive maintenance, optimizes asset utilization, and enhances overall efficiency in asset management processes. For instance, Ericsson's November 2022 report revealed a substantial rise in broadband IoT connections to 1.3 billion in 2022. Predictions indicate that nearly 60% of cellular IoT connections by 2028 will be broadband IoT, primarily using 4G, with North East Asia poised to surpass 2 billion connections in 2023. This surge in IoT devices fuels the demand for asset management software.

Technological advancements are a prevailing trend in the fixed asset management software market. Advanced solutions now encompass IT asset lifecycle programs that furnish precise data for informed decision-making by asset managers. Major companies like Aptean are focused on innovating new technologies to bolster their market positions. For instance, Aptean's March 2022 launch of Aptean EAM, a cloud-based enterprise asset management solution for manufacturers, integrates comprehensive features, including advanced analytics, to streamline preventative maintenance, manage work orders, automate approvals, track spare parts inventories, and conduct mobile compliance inspections.

In a bid to elevate asset management capabilities for customers, major companies operating in the fixed asset management software market are increasingly adopting strategic partnerships. These alliances allow firms to leverage each other's strengths and resources for mutual growth. For example, the partnership between Yokogawa Electric Corporation and Radial Software Group B.V. in February 2023 aims to enhance asset management capabilities through an AI-powered solution. This partnership enables Yokogawa to provide customers with an innovative solution for improved asset management, offering a unified view of technical information, reducing risks, fostering operational excellence, and facilitating digital transformation through the Yokogawa Cloud platform.

In November 2021, WhiteOak Capital, an India-based investment management and advisory services company, concluded the acquisition of YES Asset Management Limited (YES AMC) from YES Bank Limited (YBL), with the financial specifics undisclosed. This strategic transaction aligns with the bank's dedication to enhancing value for all stakeholders, showcasing its commitment to reallocate resources as a pivotal aspect of its comprehensive strategy. The move reflects YES Bank's proactive approach aimed at fostering growth and innovation across its diverse array of offerings. YES Asset Management Limited, operating in India, is a provider of asset management services. The acquisition signifies a significant step for both entities, paving the way for potential synergies and advancements in the asset management sector while supporting YES Bank's broader objective of fortifying its position and delivering enhanced value to its stakeholders and customers.

Major companies operating in the fixed asset management software market report are International Business Machines Corporation, Infor Inc., Tracet Enterprise, Microsoft Corporation, Oracle America Inc., Sage Software Inc., Aptean India Pvt Ltd., Aveva Group PLC, SAP SE, Ramco Systems Limited, Xero Limited, FMIS Ltd., AssetWorks LLC, RCS Tech LLP, InfoFort LLC., Asset Panda LLC., Expresstech Holdings Inc., ManageEngine AssetExplorer, UpKeep Technologies Inc., InvGate Assets, AssetCloud by Wasp Barcode Technologies, Cheqroom NV, Ivanti Inc., Nektar Data Systems Inc., Asset4000, Bloomberg Tax Fixed Assets, FlexiInternational Software Inc., Deltek Inc., Reftab LLC, and EZOfficeInventory.

Asia-Pacific was the largest region in the fixed asset management software market share in 2023 and is expected to be the fastest-growing region in the forecast period. The regions covered in the fixed asset management software market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the fixed asset management software market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The key components of fixed asset management software encompass both software and services. The software aspect involves comprehensive tools that facilitate the efficient management of fixed assets, ensuring a transparent process from acquisition to disposition. This software consists of programmed instructions and data used to manage and streamline asset-related activities. It can be deployed through on-premises or cloud-based systems, catering to the needs of large enterprises as well as small and medium-sized organizations. Industries such as energy and utilities, manufacturing, IT, telecom, media, transportation, logistics, healthcare, life sciences, and others benefit from the functionalities offered by fixed asset management software.

This report provides fixed asset management software market statistics, including fixed asset management software industry global market size, regional shares, competitors with a fixed asset management software market share, detailed fixed asset management software market segments, market trends and opportunities, and any further data you may need to thrive in the fixed asset management software industry. This fixed asset management software market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The fixed asset management software market includes revenues earned by entities by providing asset tracking, creating a checklist, setting reorder level, and providing reports and analytics. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


This product will be delivered within 3-5 business days.