Global Asset Management Market Report and Forecast 2024-2032

Global Asset Management Market Outlook

The global asset management market size reached approximately USD 421.22 billion in 2023. The market is projected to grow at a CAGR of 12.5% between 2024 and 2032, reaching a value of around USD 1215.86 billion by 2032.

Key Trends in the Market

Asset management is a systematic approach that involves development, operation, maintenance, upgradation, and disposal of organisation or client’s assets in the most effective way. The management is done with the aim to enhance monetary gains while mitigating risks.

• The increasing awareness about the various advantages associated with the utilisation of asset management solutions and services is driving their adoption. These advantages include streamlining of operations and optimum utilisation of existing resources. Furthermore, these solutions help enhance profit and improve the return on investment, along with helping enterprises save costs.

• The rising integration of asset management software with other hospital systems is adding to the asset management market demand across the globe. These solutions are increasingly used to track personnel and equipment data to maximise efficiency and ultimately improve patient care, enhancing the relationship between management and patients.

• The cloud-based asset management solutions help create a centralised asset repository, enabling easy access to asset information, documentation, and maintenance history. Adoption of cloud asset management is a significant market trend and has gained popularity owing to its ability to promote transparency by offering improved control to users over all the assets and infrastructure within the cloud environment.

Asset Management Market Segmentation

Based on component, the market is bifurcated into solution and service. On the basis of asset type, the market is divided into digital assets, returnable transport assets, in-transit assets, manufacturing assets, and personnel/staff. Based on function, the market segmentation includes location and movement tracking, check in/check out, and repair and maintenance, among others.

By application, the market is segregated into infrastructural asset management, enterprise asset management, healthcare asset management, and aviation asset management, among others. The major regional markets for asset management are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

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 management market, covering their competitive landscape and latest developments like mergers, acquisitions, investments, and expansion plans.

• Honeywell International Inc. 

• IBM Corporation

• Siemens AG 

• Rockwell Automation, Inc. 

• Oracle Corporation 

• Brookfield Corp. 

• Zebra Technologies Corp. 

• SAP SE 

• ABB Ltd

• WSP Global Inc. 

• Others

Market Share by Component

Services are anticipated to account for a significant asset management market share over the forecast period owing to the rising adoption of operational and strategic plans by various organisations across the globe. The intended usage of these services includes assisting organisations by ensuring that all their functions are working together to attain the desired objectives.

Market Share by Asset Type

Digital assets hold a significant share of the market as these solutions and services are being increasingly adopted by businesses around the globe to lower the overall operating expenses and standardise company operations, supporting the asset management market growth. Increasing volume and densities of digital assets in companies is anticipated to be another major factor that will boost the demand for digital solutions for asset management.

In-transit assets are expected to witness significant growth over the forecast period owing to the increasing e-commerce activities worldwide. These solutions will allow the e-commerce sector to track and identify the items supplied by the seller while they are in-transit. With growing digitalisation and rising population, the demand for in-transit solutions is further expected to surge.

Competitive Landscape

Honeywell International Inc., headquartered in North Carolina, United States, is a publicly traded multinational company that was founded in 1906. It primarily operates in four areas of business, including performance materials and technologies, aerospace, safety and productivity solutions, and building technologies.

IBM Corporation, founded in 1911, is a multinational technology company that is headquartered in New York, United States. The technology corporation is widely known for its software and hardware products comprising of networking equipment, computer, storage systems, and servers.

Siemens AG is an automation company that was founded in 1847 and is headquartered in Munich, Germany. The multinational technology company deals with digitalisation and automation in the manufacturing sector and provides rail transport solutions as well as digital healthcare services.

Other asset management market players include Rockwell Automation, Inc., Oracle Corporation, Brookfield Corp., Zebra Technologies Corp., SAP SE, ABB Ltd, and WSP Global Inc., among others.

Key Highlights of the Report