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Global Asset Finance Software Market Size, Share, Forecast: By Asset Type: Hard Assets, Soft Assets; By Deployment Type: Cloud Based, On-premises; By Enterprise Type: Small and Medium Size Enterprises, Large Size Enterprises; By End Use: Transportation, Others; Regional Analysis; Market Dynamics; Competitive Landscape; 2023-2028
Global Asset Finance Software Market Outlook
The global asset finance software market is projected to grow at a CAGR of 9.70% between 2023 and 2028. The key drivers of the market include development of the fin-tech sector, deployment of cloud-based technologies in the BFSI sector, and increasing digitalisation.
Key Trends in the Market
Asset finance software is an application software that keeps a record of all the transactions and other financial activities and aids in simplifying the management of assets. It also simplifies loan processes and financing operations by providing integrated, streamlined, and automated solutions to its customers.
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- Adoption of asset finance software by businesses across the globe is increasing due to the various advantages associated with their usage such as greater efficiency, profitability, increased productivity, and smoother inventory processes.
- Substantial price hike of vehicles has encouraged several companies to finance or loan utility vehicles instead of making direct purchases. This in turn is increasing the application of asset finance software in finance and loan management, thus aiding the asset finance software market growth.
- Adoption of blockchain technology and artificial intelligence for risk analytics by financial institutions reduces the chances of error that might go unnoticed using manual methods. Such technological advancements are positively influencing the growth of the market for asset finance software.
Market Analysis
Based on asset type, the asset finance software market is segmented into hard assets and soft assets. On the basis of deployment type, the market is bifurcated into cloud based and on-premises. By enterprise type, the market is categorised into small and medium size enterprises and large size enterprises. Based on end use, the market is classified into transportation, IT and related services, construction, and agriculture, among others. On the basis of region, the market is segmented into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
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The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the global asset finance software market, covering their competitive landscape and latest developments like mergers, acquisitions, investments, and expansion plans.
- Alfa Financial Software Limited
- Oracle Corporation
- IBM Corporation
- Banqsoft Denmark A/S
- Lendscape Limited
- Odessa Technologies, Inc.
- Honeywell International Inc.
- Adobe Systems Incorporated
- NetSol Technologies
- Others
Market Share by Asset Type
The hard assets segment accounted for a large share in the market owing to the rising demand for heavy equipment from industries such as manufacturing, transportation, and agriculture. The high demand is resulting in increased cost of hard assets, which in turn is increasing the applications of asset finance software to streamline the process.
Additionally, the soft assets segment is anticipated to observe a steady growth over the forecast period because of the growing startups which require soft assets including IT infrastructure, data storage, and computer software, among others.
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Market Share by Region
North America held a large asset finance software market share owing to the rapid growth of the IT infrastructure and adoption of latest technologies in the region. Rapid digitalisation and presence of large IT companies in Canada and United States is further aiding the market growth in the region. Additionally, the rising utilisation of connected, secure, and smart devices for asset centric applications is further contributing to the expansion of the market in the region.
Moreover, the market in the Asia Pacific is projected to grow rapidly over the forecast period owing to the growing deployment of advanced technologies such as cloud-based technologies and finance software in the region.
Competitive Landscape
Alfa Financial Software Limited was founded in 1990 and is headquartered in London, United Kingdom. The software company manages both complex loans and leases and high-volume transactions in any region, currency, and language.
Oracle Corporation is a computer software company that was founded in 1977. The company is headquartered in Texas, United States and is known for providing software products and services such as Java and also provides cloud engineering services and systems and data management systems.
IBM Corporation was established in 1911 and has its headquarters located in New York, United States. The multinational company is known for its software and hardware products including servers, networking equipment, computers, and storage systems.
Other players in the asset finance software market include Banqsoft Denmark A/S, Lendscape Limited, Odessa Technologies, Inc., Honeywell International Inc., Adobe Systems Incorporated, and NetSol Technologies, among others.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
|---|---|
| Base Year | 2022 |
| Historical Period | 2018-2022 |
| Forecast Period | 2023-2028 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Asset Type |
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| Breakup by Deployment Type |
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| Breakup by Enterprise Type |
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| Breakup by End Use |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Asset Finance Software Market Analysis
8.1 Key Industry Highlights
8.2 Global Asset Finance Software Historical Market (2018-2022)
8.3 Global Asset Finance Software Market Forecast (2023-2028)
8.4 Global Asset Finance Software Market by Asset Type
8.4.1 Hard Assets
8.4.1.1 Historical Trend (2018-2022)
8.4.1.2 Forecast Trend (2023-2028)
8.4.2 Soft Assets
8.4.2.1 Historical Trend (2018-2022)
8.4.2.2 Forecast Trend (2023-2028)
8.5 Global Asset Finance Software Market by Deployment Type
8.5.1 Cloud Based
8.5.1.1 Historical Trend (2018-2022)
8.5.1.2 Forecast Trend (2023-2028)
8.5.2 On-premises
8.5.2.1 Historical Trend (2018-2022)
8.5.2.2 Forecast Trend (2023-2028)
8.6 Global Asset Finance Software Market by Enterprise Type
8.6.1 Small and Medium Size Enterprises
8.6.1.1 Historical Trend (2018-2022)
8.6.1.2 Forecast Trend (2023-2028)
8.6.2 Large Size Enterprises
8.6.2.1 Historical Trend (2018-2022)
8.6.2.2 Forecast Trend (2023-2028)
8.7 Global Asset Finance Software Market by End Use
8.7.1 Transportation
8.7.1.1 Historical Trend (2018-2022)
8.7.1.2 Forecast Trend (2023-2028)
8.7.2 IT and Related Services
8.7.2.1 Historical Trend (2018-2022)
8.7.2.2 Forecast Trend (2023-2028)
8.7.3 Construction
8.7.3.1 Historical Trend (2018-2022)
8.7.3.2 Forecast Trend (2023-2028)
8.7.4 Agriculture
8.7.4.1 Historical Trend (2018-2022)
8.7.4.2 Forecast Trend (2023-2028)
8.7.5 Others
8.8 Global Asset Finance Software Market by Region
8.8.1 North America
8.8.1.1 Historical Trend (2018-2022)
8.8.1.2 Forecast Trend (2023-2028)
8.8.2 Europe
8.8.2.1 Historical Trend (2018-2022)
8.8.2.2 Forecast Trend (2023-2028)
8.8.3 Asia Pacific
8.8.3.1 Historical Trend (2018-2022)
8.8.3.2 Forecast Trend (2023-2028)
8.8.4 Latin America
8.8.4.1 Historical Trend (2018-2022)
8.8.4.2 Forecast Trend (2023-2028)
8.8.5 Middle East and Africa
8.8.5.1 Historical Trend (2018-2022)
8.8.5.2 Forecast Trend (2023-2028)
9 North America Asset Finance Software Market Analysis
9.1 United States of America
9.1.1 Historical Trend (2018-2022)
9.1.2 Forecast Trend (2023-2028)
9.2 Canada
9.2.1 Historical Trend (2018-2022)
9.2.2 Forecast Trend (2023-2028)
10 Europe Asset Finance Software Market Analysis
10.1 United Kingdom
10.1.1 Historical Trend (2018-2022)
10.1.2 Forecast Trend (2023-2028)
10.2 Germany
10.2.1 Historical Trend (2018-2022)
10.2.2 Forecast Trend (2023-2028)
10.3 France
10.3.1 Historical Trend (2018-2022)
10.3.2 Forecast Trend (2023-2028)
10.4 Italy
10.4.1 Historical Trend (2018-2022)
10.4.2 Forecast Trend (2023-2028)
10.5 Others
11 Asia Pacific Asset Finance Software Market Analysis
11.1 China
11.1.1 Historical Trend (2018-2022)
11.1.2 Forecast Trend (2023-2028)
11.2 Japan
11.2.1 Historical Trend (2018-2022)
11.2.2 Forecast Trend (2023-2028)
11.3 India
11.3.1 Historical Trend (2018-2022)
11.3.2 Forecast Trend (2023-2028)
11.4 ASEAN
11.4.1 Historical Trend (2018-2022)
11.4.2 Forecast Trend (2023-2028)
11.5 Australia
11.5.1 Historical Trend (2018-2022)
11.5.2 Forecast Trend (2023-2028)
11.6 Others
12 Latin America Asset Finance Software Market Analysis
12.1 Brazil
12.1.1 Historical Trend (2018-2022)
12.1.2 Forecast Trend (2023-2028)
12.2 Argentina
12.2.1 Historical Trend (2018-2022)
12.2.2 Forecast Trend (2023-2028)
12.3 Mexico
12.3.1 Historical Trend (2018-2022)
12.3.2 Forecast Trend (2023-2028)
12.4 Others
13 Middle East and Africa Asset Finance Software Market Analysis
13.1 Saudi Arabia
13.1.1 Historical Trend (2018-2022)
13.1.2 Forecast Trend (2023-2028)
13.2 United Arab Emirates
13.2.1 Historical Trend (2018-2022)
13.2.2 Forecast Trend (2023-2028)
13.3 Nigeria
13.3.1 Historical Trend (2018-2022)
13.3.2 Forecast Trend (2023-2028)
13.4 South Africa
13.4.1 Historical Trend (2018-2022)
13.4.2 Forecast Trend (2023-2028)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Competitive Landscape
15.1 Market Structure
15.2 Company Profiles
15.2.1 Alfa Financial Software Limited
15.2.1.1 Company Overview
15.2.1.2 Product Portfolio
15.2.1.3 Demographic Reach and Achievements
15.2.1.4 Certifications
15.2.2 Oracle Corporation
15.2.2.1 Company Overview
15.2.2.2 Product Portfolio
15.2.2.3 Demographic Reach and Achievements
15.2.2.4 Certifications
15.2.3 IBM Corporation
15.2.3.1 Company Overview
15.2.3.2 Product Portfolio
15.2.3.3 Demographic Reach and Achievements
15.2.3.4 Certifications
15.2.4 Banqsoft Denmark A/S
15.2.4.1 Company Overview
15.2.4.2 Product Portfolio
15.2.4.3 Demographic Reach and Achievements
15.2.4.4 Certifications
15.2.5 Lendscape Limited
15.2.5.1 Company Overview
15.2.5.2 Product Portfolio
15.2.5.3 Demographic Reach and Achievements
15.2.5.4 Certifications
15.2.6 Odessa Technologies, Inc.
15.2.6.1 Company Overview
15.2.6.2 Product Portfolio
15.2.6.3 Demographic Reach and Achievements
15.2.6.4 Certifications
15.2.7 Honeywell International Inc.
15.2.7.1 Company Overview
15.2.7.2 Product Portfolio
15.2.7.3 Demographic Reach and Achievements
15.2.7.4 Certifications
15.2.8 Adobe Systems Incorporated.
15.2.8.1 Company Overview
15.2.8.2 Product Portfolio
15.2.8.3 Demographic Reach and Achievements
15.2.8.4 Certifications
15.2.9 NetSol Technologies
15.2.9.1 Company Overview
15.2.9.2 Product Portfolio
15.2.9.3 Demographic Reach and Achievements
15.2.9.4 Certifications
15.2.10 Other
16 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Asset Finance Software Market: Key Industry Highlights, 2018 and 2028
2. Global Asset Finance Software Historical Market: Breakup by Asset Type (USD Million), 2018-2022
3. Global Asset Finance Software Market Forecast: Breakup by Asset Type (USD Million), 2023-2028
4. Global Asset Finance Software Historical Market: Breakup by Deployment Type (USD Million), 2018-2022
5. Global Asset Finance Software Market Forecast: Breakup by Deployment Type (USD Million), 2023-2028
6. Global Asset Finance Software Historical Market: Breakup by Enterprise Type (USD Million), 2018-2022
7. Global Asset Finance Software Market Forecast: Breakup by Enterprise Type (USD Million), 2023-2028
8. Global Asset Finance Software Historical Market: Breakup by End Use (USD Million), 2018-2022
9. Global Asset Finance Software Market Forecast: Breakup by End Use (USD Million), 2023-2028
10. Global Asset Finance Software Historical Market: Breakup by Region (USD Million), 2018-2022
11. Global Asset Finance Software Market Forecast: Breakup by Region (USD Million), 2023-2028
12. North America Asset Finance Software Historical Market: Breakup by Country (USD Million), 2018-2022
13. North America Asset Finance Software Market Forecast: Breakup by Country (USD Million), 2023-2028
14. Europe Asset Finance Software Historical Market: Breakup by Country (USD Million), 2018-2022
15. Europe Asset Finance Software Market Forecast: Breakup by Country (USD Million), 2023-2028
16. Asia Pacific Asset Finance Software Historical Market: Breakup by Country (USD Million), 2018-2022
17. Asia Pacific Asset Finance Software Market Forecast: Breakup by Country (USD Million), 2023-2028
18. Latin America Asset Finance Software Historical Market: Breakup by Country (USD Million), 2018-2022
19. Latin America Asset Finance Software Market Forecast: Breakup by Country (USD Million), 2023-2028
20. Middle East and Africa Asset Finance Software Historical Market: Breakup by Country (USD Million), 2018-2022
21. Middle East and Africa Asset Finance Software Market Forecast: Breakup by Country (USD Million), 2023-2028
22. Global Asset Finance Software Market Structure
Key Questions Answered in the Report
The market is projected to grow at a CAGR of 9.70% between 2023 and 2028.
The key drivers of the market include growing deployment of cloud-based technologies, rapid IT infrastructure development, and increasing digitalisation.
The key trends of the market include provision of smooth inventory process by asset finance software, adoption of blockchain and artificial intelligence, and the growing usage of asset finance software in simplification of utility vehicle loan processes.
The different asset types available in the market are hard assets and soft assets.
The significant deployment types available in the market are cloud based and on-premises.
The various enterprise types include small and medium size enterprises and large size enterprises.
The major regions in the market are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The key players in the market include Alfa Financial Software Limited, Oracle Corporation, IBM Corporation, Banqsoft Denmark A/S, Lendscape Limited, Odessa Technologies, Inc., Honeywell International Inc., Adobe Systems Incorporated, and NetSol Technologies, among others.
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