The sudden challenges created by the ongoing COVID-19 are captured effectively to exhibit the long term growth projections in the MRFR report on Fixed Asset Management Software Market Share. The growth sectors of the Fixed Asset Management Software Market Share are identified with precision for a better growth perspective.
According to Market Research Future Analysis, Fixed Asset Management Software market is anticipated to grow at a significant rate over the forecast period, 2017–2023.
According to Market Research Future, market has been segmented into deployment, organization size, application and region.
Fixed asset management software is a process by businesses can organize, store, retrieve and manage rights. The development of an infrastructure to preserve and manage assets and also allows end-users to identify and locate assets. It is a set of database records. Each database record comprises of metadata explaining the information about its content. The software helps to create & manage the databases and helps the companies to store.
The growing demand for process automation, high implementation of analytics to manage assets, growing mobility solutions and increasing integration of asset management solutions are the factors boosting the growth of the fixed asset management software market. However, factors such as lack of awareness and dependency on various traditional approaches are hindering the growth of the overall market. Various organizations are investing in research & development to achieve business growth. Furthermore, the increasing online marketing or digital marketing and growing demand for collaborative digital workflow are expected to drive the growth of the market in future.
On the basis of deployment, the market can be segmented into cloud and on premises. Out of these, cloud based accounted for the largest market share majorly due to increasing demand for cloud based solutions by various sectors. However, on premises segment is expected to grow over the forecast period, 2017–2023.
On the basis of organization size, the market can be segmented into SMEs and large enterprises. Out of these, large enterprises accounted for the largest market share since large enterprises prefer to store and manage their assets in their own infrastructure. However, SMEs segment is expected to grow over the forecast period, 2017–2023.
On the basis of application, the market can be segmented into accounting, tax management, asset tracking, asset management and document management among others. Out of these, document management and accounting segment accounted for the largest market share majorly due to increasing demand for asset management solutions, digital transformation, large number of vendors and high implementation of these solutions in the healthcare sector and the finance sector.
On the basis of region, the market can be segmented into North America, Europe, Asia-Pacific and Rest of the world.
The key players in the global fixed asset management software market include- Sage Intacct (U.S.), Cougar Mountain Software (U.S.), Multiview Corporation (Canada), NetSuite (U.S.), SAP ERP Core Finance (Germany), Bloomberg BNA (U.S.), Acumatica ERP (U.S.), AccuFund Accounting Suite (U.S.) and EAZY ERP (U.S.) among others.
By Region, MRFR analysis shows that, Asia-Pacific region is expected to grow over the forecast period majorly due to increasing implementations of various government initiatives, presence of large number manufacturers in this region and the growing implementation of asset management across various sectors. Countries such as China, Japan and Australia contributes largely to the overall growth of the market.
Europe is expected to have a stable growth rate over the forecast period, 2017–2023. However, North-America accounted for the largest market share. Countries such as U.S contributes largely to the overall growth of the market. The reason of this growth is attributed to rising demand for advanced technological solutions installed in various organizations.
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