Global Fixed Asset Management Software Market Synopsis
The data experts at Market
Research Future Reports (MRFR), the global Fixed Asset Management Software Market is projected to
value USD 6.2 billion, thriving at a CAGR of 12% during the review period from
2017 to 2023. As per the analysis, the increasing demand for fixed assets
across several sectors is predicted to be the most substantial cause affecting
the global fixed asset management market 2020. Besides, the growing expenditure
on digital marketing is estimated to be a potential factor leading to market
growth. In addition, the increasing demand for process automation is projected
to magnify the market strength during the assessment period. Furthermore, the
burgeoning technical innovations and the proliferation of content is likely to
be another pivotal factor leading to market growth.
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The report also reveals
that the increased deployment of analytics to monitor the fixed assets is
estimated to act as a catalyst in strengthening the market. In addition,
increasing mobility solutions and the growing integration of asset management
solutions are anticipated to be other crucial factors resulting in market
growth. However, the reliability of conventional methods and lack of awareness
are likely to impede market growth.
Also, the market dynamics
are estimated to change significantly due to the spread of COVID-19. Various regions
have been affected due to the outbreak of coronavirus. Due to the pandemic,
various companies in the market have temporarily shut their daily operations.
The halt caused in business operations is estimated to bring a considerable
impact on market revenue. It is estimated that it will take some time to
recover from the losses incurred during the observation of lockdown. We will
provide an impact analysis report on COVID-19.
Market Segmentation
The worldwide fixed asset
management software market can be distinguished on the basis of organization
size, deployment, application, and geography.
On the grounds of
organization size, the worldwide fixed asset market can be distinguished into
large enterprises and SMEs.
On the basis of deployment,
the worldwide fixed asset market can be distinguished into on-premise and
cloud-based.
On the grounds of
application, the worldwide fixed asset market can be distinguished into
accounting, document management, tax management, asset management, asset
tracking, and others.
On the grounds of
geography, the global fixed asset market can be distinguished into North
America, Europe, Asia Pacific, and the Rest of the World (RoW).
Regional Analysis
A regional analysis of
North America, Europe, Asia Pacific, and the Rest of the World (RoW) has been
performed. As per the study, the worldwide market is estimated to be dominated
by North America. Countries like the U.S. and Canada are estimated to make the
most substantial contribution during the assessment period. There has been a
rising usage of digital or fixed asset management software which is estimated
to be one of the most crucial factors driving the regional growth during the
review period. Besides, the growing research and development are likely to be
another factor leading to regional expansion. The APAC region is likely to grow
exponentially during the review period from 2017 to 2023. The region has been
witnessing a surge in demand for enterprise content management in developing
economies. Besides, the presence of a large number of manufacturers is
anticipated be another significant factor leading to regional expansion.
Key Players
The established players of
the global fixed asset management software market are Cougar Mountain Software
(U.S.), Sage Intacct (U.S.), Multiview Corporation (Canada), NetSuite (U.S.),
Bloomberg BNA (U.S.), SAP ERP Core Finance (Germany), EAZY ERP (U.S.), AccuFund Accounting Suite
(U.S.), and Acumatica ERP (U.S.).
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