Asset Management Market Size - By Component (Solution, Services), By Asset Type (Digital Assets, Returnable Transport Assets, In-transit Assets, Manufacturing Assets, Personnel/ Staff), By Function (Location & Movement Tracking, Check In/ Check Out, Repair & Maintenance), By Application & Forecast, 2023 - 2032
Published Date: March - 2025 | Publisher: MIR | No of Pages: 240 | Industry: Media and IT | Format: Report available in PDF / Excel Format
View Details Buy Now 2890 Download Sample Ask for Discount Request CustomizationAsset Management Market Size
Asset Management Market was worth USD 371.2 billion in 2022 and is expected to register approximately 34% CAGR from 2023 to 2032 owing to the aging infrastructure in various economies. As reported by the American Society of Civil Engineers, the poor condition of U.S. roads has led to 43% of public roads being in poor or mediocre condition, a figure that has changed little over the past few years. There are 30,000 miles of inventoried levees and another 10,000 miles of levees whose location and condition are not documented in the United States.
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Degraded roads, bridges, utilities, and public buildings need systematic evaluation, maintenance, and repair. Asset management solutions offer a strategic plan for effectively managing these aging structures, maximizing their lifespans, and optimizing resources. As organizations and governments look for cost-saving measures to guarantee infrastructure reliability and safety, asset management services will have an upward growth.
| Report Attribute | Details |
|---|---|
| Base Year | 2022 |
| Asset Management Market Size in 2022 | USD 371.2 Billion |
| Forecast Period | 2023 to 2032 |
| Forecast Period 2023 to 2032 CAGR | 34% |
| 2032 Value Projection | USD 6.68 Trillion |
| Historical Data for | 2018 to 2022 |
| No. of Pages | 300 |
| Tables, Charts & Figures | 379 |
| Segments covered | Component, Asset Type, Function, Application |
| Growth Drivers |
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| Pitfalls & Challenges |
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What are the growth opportunities in this market?
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However, concerns about data privacy and security may deter adoption, particularly in the healthcare and IT sectors. Besides, resistance within organizations to adopt new technologies or practices can slow down asset management implementation across several end-use verticals, thus limiting market growth.
COVID-19 Impact
The COVID-19 pandemic had a profound effect on the demand for asset management across industries. It revealed weaknesses in infrastructure, IT, real estate, and healthcare infrastructure, which emphasized the importance of robust asset management. Economic instability and budget limitations drove organizations to adopt cost-efficient, data-driven approaches, which boosted the adoption of asset management solutions for resource optimization, increased readiness, and business continuity in the event of unforeseen disruptions.
Asset Management Market Trends
The growing use of Blockchain technology for asset tracking will make the asset management sector more robust. Blockchain technology is being researched for its potential to offer a secure and transparent record book for asset tracking and management, especially in real estate and healthcare, where data integrity and provenance are paramount. Being one of the major real estate investment trust (REIT) managers, MAM has a considerable portfolio with ¥508.8 billion (which is equivalent to $3.7 billion) assets under management. The development is a move by MAM to diversify its sources of funding. Also, the implementation of digital twin technology, whereby organizations can simulate virtual versions of physical assets, will help contribute to the asset management industry expansion.
Companies worldwide are placing their emphasis on optimum utilization and utilization performance of their physical assets such as machinery, equipment, vehicles, and infrastructure. Enterprise asset management (EAM) optimizes asset utilization and reduces downtime. Moreover, several sectors are under stringent regulatory directives, and EAM systems aid in guaranteeing that assets are in compliance with regulatory standards, lowering the potential for penalties and legal action.
Asset Management Market Analysis
Find out more about the major segments defining this market
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By component, the solution segment accounted for a market share of approximately 55% in 2022. Asset management solutions optimize the allocation of resources, minimizing costs while maximizing efficiency. Compliance demands thorough tracking and maintenance. Moreover, advancements in technology, including IoT and AI, allow for real-time monitoring and predictive maintenance will enhance industry dynamics. Apart from that, asset management solutions help in providing improved services and maintaining environmental and safety compliance, thus becoming an integral part of contemporary business processes.
Discover more about the most important segments defining this market
By asset category, the segment of digital assets accounted for about 25% of the market share of asset management in 2022. It is fueled by the demand for centralized, simplified control of assets in several industries, ranging from infrastructure to IT, real estate, and healthcare. Within such sectors, effective structuring, access, and security of data are crucial. Compliance with regulations, accelerated data growth, and work-from-home trends also fuel the demand. In addition, the capacity to utilize data for data-driven decision-making, workflow automation, and collaboration improves the uptake of digital asset management software since it enables companies to achieve maximum efficiency and competitiveness in the digital economy.
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North America held around 35% of the asset management market share during 2022. A vibrant and diversified finance market and investment culture with long-term horizons have drawn vast amounts of money. In January 2023, Bahrain-based GFH Financial Group acquired a majority stake in Big Sky Asset Management, which is a United States-based asset management company dedicated to healthcare properties. This is following GFH's earlier acquisition of SQ Asset Management in May 2022. The firm has over 20 years of history of investing in and managing healthcare assets in the United States, with a total transaction value of over $2 billion and a portfolio of 130 medical facilities.
Major players operating in the asset management industry are
- Brookfield Asset Management Inc.
- General Electric Company
- Hitachi Ltd.
- Honeywell International Inc.
- IBM Corporation
- Johnson Controls International plc
- Oracle Corporation
- Siemens AG
- WSP Global Inc.
- Zebra Technologies Corp.
The major companies operating in the global industry are expanding the capabilities of their solutions by integrating various emerging technologies, such as machine learning, AI, and others. Also, the companies are adopting various growth strategies, including new product launches, strategic partnerships & collaborations, and mergers & acquisitions, to strengthen their product portfolios.
Asset Management Industry News
- In April 2023, Siemens Digital Industries Software and IBM unveiled plans to enhance their software collaboration by creating a comprehensive suite of integrated tools aimed at tackling system engineering across multiple domains. This expanded partnership will encompass lifecycle management and asset management, with the overarching goal of establishing a unified digital thread that runs through the entire manufacturing infrastructure.
This asset management market research report includes in-depth coverage of the industry, with estimates & forecast in terms of revenue (USD Billion) from 2018 to 2032, for the following segments
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By Component
- Solution
- Real-Time Location System (RTLS)
- Barcode
- Mobile Computer
- Labels
- Global Positioning System (GPS)
- Others
- Services
- Strategic Asset Management
- Operational Asset Management
- Tactical Asset Management
By Function
- Location & Movement Tracking
- Check In/ Check Out
- Repair & Maintenance
- Others
By Asset Type
- Digital Assets
- Returnable Transport Assets
- In-transit Assets
- Manufacturing Assets
- Personnel/ Staff
By Application
- Infrastructure Asset Management
- Transportation
- Energy Infrastructure
- Water & Waste Infrastructure
- Critical Infrastructure
- Others
- Enterprise Asset Management
- Healthcare Asset Management
- Aviation Asset Management
- Others
The above information is provided for the following regions and countries
- North America
- U.S.
- Canada
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Russia
- Nordics
- Asia Pacific
- China
- India
- Japan
- South Korea
- ANZ
- Southeast Asia
- Latin America
- Brazil
- Mexico
- Argentina
- MEA
- South Africa
- UAE
- Saudi Arabia
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