Asset Management Software Industry To Rise As Of Growing Demand To Increase Organizational Productivity By Using Advanced Technology To Meet Company Needs

 Asset management software industry data book covers asset performance management, enterprise asset management, infrastructure asset management market.

The global asset management industry size was valued at USD 56.76 billion in 2022 and is expected to expand at a compound annual growth rate (CAGR) of 11.1% from 2023 to 2030.

 

Grand View Research’s asset management software industry databook is a collection of market sizing information & forecasts, competitive benchmarking analyses, macro-environmental analyses, and regulatory & technological framework studies. Within the purview of the database, all such information is systematically analyzed and provided in the form of presentations and detailed outlook reports on individual areas of research.

 

Asset Performance Management Market Insights

The global asset performance management market size was valued at USD 19.32 billion in 2022 and is expected to expand at a compound annual growth rate (CAGR) of 12.0% from 2023 to 2030. The market is anticipated to witness significant growth during the forecast period on account of the increasing demand for the digital solutions across various industries such as oil & gas, manufacturing, and chemical among others, for reducing operational expenses. APM system helps collect different kinds of data from all the assets such as machinery, heavy equipment, and so on, using sensors. Through the integration of disparate data sources, the APM system builds a data analytics platform that provides a comprehensive view of all operational assets across the industrial facility. Customers can utilize this information to improve asset management processes and prioritize maintenance activities.

North America dominated the global market with a share of above 30.0% in 2022. The increasing demand for high-speed data networks and the considerable presence of software vendors in the region are the factors contributing to the regional market growth. Furthermore, growing investments by the organizations in IT infrastructure, specifically for research and development of cloud infrastructure, is further fueling the regional market growth.

Asia Pacific is expected to register the highest CAGR during the forecast period. The regional market is witnessing growth due to the significant investments by large firms and the implementation of new technologies across industries and enterprises. Several companies have started migrating their workloads to the cloud as they are highly focused on the development of a digital transformation process through cloud technology.

 

Order your copy of the Free Sample of “Asset Management Software Industry Data Book - Asset Performance Management, Enterprise Asset Management, Infrastructure Asset Management Market Size, Share, Trends Analysis, And Segment Forecasts, 2023 - 2030” Data Book, published by Grand View Research

 

Enterprise Asset Management Market Insights

The global enterprise asset management market size was valued at USD 5.74 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 16.9% from 2023 to 2030. The market's growth is driven by a stronger emphasis on improving asset availability and reducing asset breakdowns that impair business operations. The enterprise asset management (EAM) market is expected to grow more rapidly due to the rising demand for a 360-degree view of assets, the elimination of compliance-related overheads, the integration of technologies such as IoT, AI, and analytics, and the ongoing use of IoT platforms and devices to sustain enterprise assets. The demand for cloud-based EAM setups has been affected by increased internet enterprise size adoption, rising data security concerns, and cell phones that empower and inform users about using highly effective software.

The North American market accounted for over 33.3% of the global market share in 2022. The presence of major EAM players such as Aptean, AssetWorks, LLC, CGI Inc.; and Infor, among others in the region, are the key driving factors of the region. Moreover, early adoption of the latest technologies, the proliferation of cloud-based deployments, a highly developed IT infrastructure, government investments in advanced technologies, and the increasing focus of organizations on meeting regulatory and compliance requirements are all factors that contribute to this region's large share. The European region is expected to present significant opportunities for industry expansion. European manufacturers and transport operators are increasingly adopting advanced asset management deployments and technologies such as the Internet of Things and predictive analytics.

 

Infrastructure Asset Management Market insights

The global Infrastructure Asset Management market size was valued at USD 31.70 billion in 2022 and is expected to register a CAGR of 9.2% from 2023 to 2030. The market has witnessed considerable growth owing to the rapid adoption of IAM services to reduce the procurement and maintenance costs of infrastructure. The development of advanced wireless technologies and protocols such as High-Speed Downlink Packet Access (HSDPA) is expected to enable a rise in the adoption of technologies such as AI (Artificial Intelligence) and the Internet of Things (IoT), further driving the market growth.

Geographical segmentation for the infrastructure asset management (IAM) market comprises North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. North America accounts for a greater market share due to the rise in need to augment asset utilization simultaneously minimizing the operational costs. The U.S. Government encourages private investors to invest in infrastructure and promising fair returns, hence U.S. emerged as the most preferred destination for Greenfield investments in 2017.

The Asia Pacific is expected to emerge as the fastest-growing region, attributed to the major growth opportunities in the aviation industry. The regional spending on infrastructure gained traction in 2018, thereby opening new opportunities for market players. For instance, in India, the government plans to develop more than 100 smart cities by 2020 led by efficient telecommunications infrastructure that bodes well for market development.

 

Go through the table of content of Asset Management Software Industry Data Book to get a better understanding of the Coverage & Scope of the study.

 

Asset Management Software Industry Data Book Competitive Landscape

The services facilitate sortation facilities in populated coastal areas to offer transit times across Canada, leveraging various delivery provider partnerships to improve performance and cost with a single invoice and customized tracking application with no additional charge. By combining proprietary market and consumer insights with advanced modelling technology, Pitney Bowes provided its clients with the Designed Delivery service that customized the solution based on each shipper's need.

 

Key players operating in the Asset Management Software industry are –

• AVEVA Group plc
• Aspen Technology, Inc.
• ABB Ltd
• Aptean
• Pitney Bowes Inc.
• CGI, Inc.
• IFS AB
• WSP Global Inc.
• RPS Group Plc.
• Brookfield Asset Management Inc.

Customer Relationship Management Industry To Rise Owing To The Changing Nature Of The Software In Terms Of Functionalities And Features

  

 

Customer relationship management industry data book covers customer experience management, customer self-service software, digital experience platform, sales force automation software, sales training software, marketing automation market.

The global customer relationship management industry size was valued at USD 51.43 billion in 2022 and is expected to expand at a significant compound annual growth rate CAGR of 16.9% from 2023 to 2030.

 

Grand View Research’s customer relationship management industry databook is a collection of market sizing information & forecasts, competitive benchmarking analyses, macro-environmental analyses, and regulatory & technological framework studies. Within the purview of the database, all such information is systematically analyzed and provided in the form of presentations and detailed outlook reports on individual areas of research.

 

Customer Experience Management Market Insights

The global customer experience management market size was valued at USD 10.65 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 15.4% from 2023 to 2030. The market growth can be attributed to the mounting importance of understanding customer behavior and their preferences, which drives various brands and organizations to implement customer experience strategies, such as regularly communicating and engaging with customers, developing a long-term programme, and utilizing automation, to provide the best service performance to customers in real-time.

 

Customer Self-service Software Market Insights

The global customer self-service software market size was valued at USD 11.92 billion in 2022 and is expected to expand at a compound annual growth rate (CAGR) of 23.5% from 2023 to 2030. The strong emphasis organizations are putting on delivering instant information as part of the efforts to increase productivity and operating efficiency is anticipated to drive the growth of the market. The eminent need to develop better relationships with customers and enhance the level of customer experience to retain the existing customers and attract new ones is also expected to contribute to the growth. The growing demand from customers for efficient services through multiple touchpoints, such as smartphones and the internet, is particularly expected to prompt enterprises to adopt self-service portals.

 

Order your copy of the Free Sample of “Customer Relationship Management Industry Data Book - Customer Experience Management, Customer Self-service Software, Digital Experience Platform, Sales force Automation Software, Sales Training Software, Marketing Automation Market Size, Share, Trends Analysis, And Segment Forecasts, 2023 - 2030” Data Book, published by Grand View Research

 

Digital Experience Platform Market insights

The global digital experience platform market size was valued at USD 11.17 billion in 2022 and is expected to expand at a compound annual growth rate (CAGR) of 13.7% from 2023 to 2030. The continued integration of the latest technologies, such as the Internet of Things (IoT), Artificial Intelligence (AI), Virtual Reality (VR), and Machine Learning (ML), into digital experience platform (DXP) solutions, is expected to play a niche role in driving the growth of the DXP market during the forecast period. Digital transformation has gained significant traction in the wake of the outbreak of the COVID-19 pandemic. Several businesses are adopting DXP solutions to ensure business coherence and process optimization. Looking forward, DXP solutions would help teams in learning to collaborate, thereby opening new opportunities for the growth of the digital experience platform market over the forecast period.

 

Sales force Automation Software Market Insights

The global sales force automation software market size was valued at USD 9.82 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 14.6% from 2023 to 2030. The growth can be attributed to the increasing adoption of cloud sales force automation (SFA) software. Increasing demand for sales forecasting applications in the banking, retail, and IT and telecom sectors is anticipated to foster growth. Moreover, the use of artificial intelligence (AI), machine learning (ML), and deployment of cloud technology are the factors anticipated to foster growth. The market has been subject to several new developments in recent years. Technology, such as artificial intelligence is gaining tremendous traction and is projected to drive transformation across the sales automation process. For instance, AI is building practical value for sales management by automating, expanding, and supercharging the way deals are conducted.

 

Sales Training Software Market Insights

 

The global sales training software market size was valued at USD 2.14 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 14.3% from 2023 to 2030. The industry growth can be attributed to the rising corporate competition and changing business needs. Small- & Medium-scale Enterprises (SMEs) & large-scale companies are regularly investing in the training of their sales and other teams. Furthermore, the rising adoption of Customer Relationship Management (CRM) software, which provides sales enablement tools to facilitate efficient collaboration with other sales representatives, is creating robust growth opportunities. The COVID-19 pandemic adversely impacted the industry in the first three quarters of 2020.

 

Go through the table of content of Customer Relationship Management Industry Data Book to get a better understanding of the Coverage & Scope of the study.

 

Marketing Automation Market Insights

The global marketing automation market size was valued at USD 5.72 billion in 2022 and is expected to witness a CAGR of 13.2% from 2023 to 2030. Owing to the digitalization of industries, rising internet penetration, and the use of mobile devices, the demand for automating marketing solutions has been increasing rapidly. Increasing demand for personalized advertising, retention of users for business growth, and the need for informed advertising strategy are some of the major factors expected to drive the growth. Moreover, the rise in the adoption of IoT devices, an increase in big data, and data analytics solutions, and demand for business automation, and insights will propel the market growth.

 

Key players operating in the Customer Relationship Management industry are –
• Adobe Inc.
• IBM Corporation
• Salesforce.com, Inc.
• Sitecore

 

Supply Chain Solutions Industry To Grow Owing To A Rise In The Volume Of Business Data Across Industries And Companies

 Supply chain solutions industry data book covers supply chain analytics, procurement as a service and vendor risk management market.

The global Supply chain solutions market size was valued at USD 20.45 billion in 2022 and is expected to register a growth of 15.0% from 2023 to 2030.

Grand View Research’s supply chain solutions industry data book is a collection of market sizing information & forecasts, competitive benchmarking analyses, macro-environmental analyses, and regulatory & technological framework studies. Within the purview of the database, all such information is systematically analyzed and provided in the form of presentations and detailed outlook reports on individual areas of research.

 

Supply Chain Analytics Market Insights

 

The global supply chain analytics market size was estimated at USD 6.12 billion in 2022 and is anticipated to grow at a compound annual growth rate (CAGR) of 17.8% from 2023 to 2030. The supply chain analytics (SCA) market is growing in demand due to increased awareness of the benefits of SCA solutions, such as forecasting accuracy, supply chain optimization, waste minimization, and meaningful synthesis of business data. The increasing number of small & medium enterprises and their increasing expenditure on implementing analytics to hold a strong position in the market and compete against other market players are expected to boost the market growth over the forecast period.

 

North America region dominated the global market in 2022 with a revenue share of over 37%.Due to the complexity of corporate processes, industrial organizations in North America are putting a greater focus on the visual display of operational data. This allows businesses to quickly assess the current health of their supply chain from a data standpoint, allowing for better strategic decision-making. Over the forecast period, the European regional market is expected to rise at a promising rate. The European Commission's single market strategy allows commodities, services, people, and capital to travel freely within the region. It broadens the geographical market for European businesses and expands the possibilities for SCA solutions acceptance and deployment.

 

Vendor Risk Management Market insights

The global vendor risk management market size was valued at USD 8.18 billion in 2022 and is expected to expand at a compound annual growth rate (CAGR) of 15.1% from 2023 to 2030. Enterprises are extensively dependent on a large number of third-party vendors that are located in different geographic locations to achieve their business objectives. Collaborating with these vendors often seems challenging for enterprises as they may bring different risks, which can damage the business objectives and processes. Thus, to mitigate and overcome these risks, enterprises adopt vendor risk management in their business processes.

 

North America dominated the global market with a share of over 55.0% in 2021. The large share of this segment is primarily attributed to the growing dependence of enterprises on vendor risk management solutions to effectively manage risks associated with vendors, the presence of global market leaders offering several solutions at affordable prices, and the increasing spending capacity of the local enterprises on risk management solutions.

Asia Pacific is anticipated to emerge as the fastest-growing region over the forecast period. The rapid rise in the disposable incomes of consumers and the growing number of SMEs in China, India, South Korea, and Japan are anticipated to drive the market. Moreover, the growing need for digital transformation among several companies in the remote places of the region and increasing awareness among the enterprises regarding the benefits of vendor risk management is expected to drive the market in the forecast period.

 

Order your copy of the Free Sample of “Supply Chain Solutions Industry Data Book - Supply Chain Analytics, Procurement as a Service And Vendor Risk Management Market Size, Share, Trends Analysis, And Segment Forecasts, 2023 - 2030” Data Book, published by Grand View Research

 

Procurement as a Service Market Insights

The global procurement as a service market size was valued at USD 6.15 billion in 2022 and is expected to register a growth of 11.1% from 2023 to 2030. As firms increasingly rely on digitization to carry out their sourcing and procurement tasks while keeping track of company payments and purchases, procurement as a service is gaining popularity throughout the globe. Following the COVID-19 pandemic, the uptake of digitization in automating essential business operations like sourcing and procurement is receiving attention. This is anticipated to support the procurement growth as a service market throughout the projection period.

The European region holds the largest market share of over 40% of the overall revenue share in 2022. The European market has reached maturity with expected modest growth over the forecast period. The increasing focus of procurement service providers in offering customized service plans to their customers and rising demand from European manufacturing enterprises for enhancing the procurement process are key factors driving regional growth. In addition, the growing demand for modernized solutions that could help organizations make data-driven decisions for managing procurement operations is also observed as a trending factor contributing to market growth.

The Asia Pacific region is expected to grow with the fastest CAGR, owing to a considerable rise in demand for digital solutions to manage and streamline supply chain operations. Also, growing internet usage for direct and indirect procurement services is facilitating the adoption of procurement as a service in this region. Additionally, in countries such as China and India, where supply markets are strict, the demand for new sources of supply has emerged rapidly in the region. To manage the new sources, demand for procurement as a service solution is expected to grow considerably over the forecast period.

 

Supply Chain Solutions Market – Global Industry Segmentation

 

Supply Chain Solutions Industry, By Type
• Supply Chain Analytics
• Procurement as a Service
• Vendor Risk Management

Supply Chain Solutions Industry, By Deployment
• Cloud
• On-premises

Supply Chain Solutions Industry, By Enterprise size
• Large Enterprise
• Small & Medium Enterprise

 

Go through the table of content of Supply Chain Solutions Industry Data Book to get a better understanding of the Coverage & Scope of the study.

 

Supply Chain Solutions Industry, By End- Use

• Retail & E-commerce
• Healthcare
• Automotive
• Transportation & Logistics
• Food & Beverages
• Manufacturing
• Others

Supply Chain Solutions Industry, By Region

• North America
o U.S.
o Canada
• Europe
o U.K.
o Germany
o France
• APAC
o China
o Japan
o India
• Latin America
o Brazil
o Mexico
• MEA

Key players operating in the supply chain solutions industry are –

• Genpact
• Accenture
• International Business Machines Corporation
• HCL Technologies Ltd.
• WNS (Holdings) Ltd.
• Optive Security, Inc.
• Infor
• Kinaxis
• JDA Software Group, Inc.
• Aera Technology