DUBLIN, Aug. 19, 2020 — (PRNewswire) — The "Asset Management System Market With Covid-19 Impact by Solution (GPS, RFID, RTLS, Barcode), Asset Type (Electronic Assets, Returnable Transport Assets, In-Transit Equipment, Manufacturing Assets, Staff), Industry, Geography - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.

The global asset management system market is projected to grow from USD 16.8 billion in 2020 to USD 27.4 billion by 2025; it is expected to grow at a CAGR of 10.3% from 2020 to 2025.

The growth of the asset management system market is driven by reduced equipment downtime and the optimum resource utilization requirements of enterprises.

COVID-19 has emerged as a global pandemic that has spread across 215 countries worldwide and disrupted various industries around the world. The prominent players across industries have been affected by this pandemic. The foreseeable decline in the growth of end-user industries may have a considerable direct impact on the asset management system market.

The in-transit equipment asset type is expected to grow at the highest CAGR during the forecast period.

The in-transit equipment segment of the market is projected to grow at the highest CAGR during the forecast period owing to the increased importance of this equipment in the value chain and its impact on the overall business performance of organizations. The in-transit goods are transported through buses, light rails, heavy rails, para-transit rolling stocks, ferryboats, etc. Barcode, GPS or GIS, RFID, and automatic identification and data capture (AIDC) solutions are used for tracking and managing them. They help organizations in ensuring optimum performance and costs of their products during their lifespan.

The GPS solution is projected to account for the largest share of the asset management system market during the forecast period.

The growth of this segment can be attributed to the efficiency-related benefits offered by GPS that assist businesses in reducing their operational costs and increasing their profitability. In fleet management, GPS solutions help in optimizing the route of fleet vehicles, decrease the response time of fleet vehicles for improved customer service, reduce the fuel costs, improve the safety of fleet vehicles, and minimize the business losses caused by thefts. GPS reduces wastage of time and eliminates the requirement of local knowledge about the position of different assets. GPS integrated with field support systems provide a rich level of context. The information received is based on the current location of assets. These advantages of GPS solutions drive the growth of the GPS segment of the asset management system market during the forecast period.

APAC is projected to grow at the highest CAGR during the forecast period.

The market in APAC is projected to grow at the highest CAGR from 2020 to 2025 owing to the growth of the IoT industry and the rapid modernization of production facilities in APAC in the industrial sectors of China and India. The factory automation is increasing in China owing to continuously rising labor wages and the presence of a large number of automotive manufacturing plants in the country. COVID-19 forced lockdowns across APAC. Asian countries under lockdown have suffered tremendous loss of business and revenue due to the shutdown of many manufacturing units. Thus, widely mandated stay-at-home orders are already having an impact on the various markets in APAC. This has impacted the demand for asset management systems in 2020.

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary
3.1 Realistic Scenario
3.2 Pessimistic Scenario
3.3 Optimistic Scenario

4 Premium Insights
4.1 Asset Management System Market
4.2 Asset Management System Market, by Solution
4.3 Asset Management System Market, by Asset Type
4.4 Asset Management System Market, by Industry
4.5 Asset Management System Market, by Region

5 Market Overview
5.1 Introduction
5.1.1 Drivers
5.1.1.1 Optimum Resource Utilization Requirements of Resources
5.1.1.2 Reduced Equipment Downtime
5.1.2 Restraints
5.1.2.1 High Initial Costs of Asset Management Systems
5.1.3 Opportunities
5.1.3.1 Increase in Demand for Image-Based Barcode Readers
5.1.3.2 Formulation of Regional Fiscal Policies to Keep Manufacturing Facilities Floating Amid Covid-19 Crisis
5.1.4 Challenges
5.1.4.1 Imposition of Lockdowns and Social Distancing May Restrict Commercial Trade Growth in Coming Months
5.1.4.2 Trade-Off Complications Among Accuracy, Range, and Power Consumption in Rtls Tags
5.2 Asset Management Platforms
5.2.1 Software
5.2.2 Connectivity
5.2.3 Endpoints

6 Functions of Asset Management Systems
6.1 Introduction
6.2 Location and Movement Tracking Function
6.2.1 Use of Asset Management Systems to Track Movable Assets
6.3 Check-In/Check-Out Record Maintenance Function
6.3.1 Efficient Check-In/Check-Out Process Enables Development of Highly Reliable, Easy-To-Use, and Low-Cost Asset Tracking Solutions
6.4 Repair and Maintenance Function
6.4.1 Asset Management Systems Enable Tracking of Maintenance Records and Schedules of Assets
6.5 Others

7 Asset Management System Market, by Asset Type
7.1 Introduction
7.2 Electronic Assets
7.2.1 Rise in Use of Barcodes by Organizations to Keep Track of Their Electronic Assets
7.3 Returnable Transport Assets
7.3.1 Gps Segment of Returnable Transport Asset Management System Market to Grow at Highest CAGR from 2020 to 2025
7.4 In-Transit Equipment
7.4.1 Surge in Use of Gps Solutions to Track In-Transit Equipment
7.5 Manufacturing Assets
7.5.1 Retail Segment to Hold Largest Size of Manufacturing Asset Management System Market from 2020 to 2025
7.6 Personnel/Staff
7.6.1 Increase in Use of Rtls Solutions by Enterprises to Determine Real-Time Location of Their Personnel and Staff

8 Asset Management System Market, by Solution
8.1 Introduction
8.2 Radio Frequency Identification (Rfid)
8.3 Real-Time Location System (Rtls)
8.4 Barcode
8.4.1 Barcode Scanners
8.4.1.1 Barcode Scanners, by Technology
8.4.1.1.1 Linear Imagers
8.4.1.1.1.1 Linear Imagers Use Led Lights to Illuminate Barcodes
8.4.1.1.2 2D Imagers
8.4.1.1.2.1 2D Imagers Enable Fast Scanning of Images
8.4.1.1.3 Laser Scanners
8.4.1.1.3.1 Laser Scanners Read Thin/Linear Patterns of Codes
8.4.1.2 Barcode Scanners, by Connectivity
8.4.1.2.1 Wired Barcode Scanners
8.4.1.2.1.1 Wired Barcode Scanners Transmit Data Directly to Laptops Or Computers Installed Within Inventory Systems
8.4.1.2.2 Wireless Barcode Scanners
8.4.1.2.2.1 Wireless Barcode Scanners Collect and Store Data in Batches in Their Internal Memory
8.4.1.3 Barcode Scanners, by Type
8.4.1.3.1 Handheld Barcode Scanners
8.4.1.3.1.1 Handheld Barcode Scanners Can Be Wired and Wireless
8.4.1.3.2 Stationary Barcode Scanners
8.4.1.3.2.1 Stationary Barcode Scanners Read Printed Data Automatically
8.4.1.3.2.2 Pos Scanners
8.4.1.3.2.2.1 Pos Scanners Can Read Codes from a Distance of 1-Centimeter to Several Meters
8.4.1.3.2.3 Industrial Barcode Stationary Scanners
8.4.1.3.2.3.1 High Sensitivity, Enhanced Performance, and Fast Scanning of Industrial Barcode Stationary Scanners Lead to Rise in Their Use
8.4.2 Mobile Computers
8.4.2.1 Wearable Mobile Computers
8.4.2.1.1 Use of Wearable Mobile Computers for Multitasks
8.4.2.2 Non-Wearable Mobile Computers
8.4.2.2.1 Deployment of Vehicle-Mounted Non-Wearable Mobile Computers for Barcode Scanning
8.4.3 Labels
8.4.3.1 1D Labels
8.4.3.1.1 Linear Representation of Varying-Width Parallel Bars and Spaces Used by 1D Labels
8.4.3.2 2D Labels
8.4.3.2.1 Square Or Rectangular Representation of Small and Individual Dots Used by 2D Labels
8.5 GPS

9 Asset Management System Market, by Industry
9.1 Introduction
9.2 Healthcare
9.2.1 Increase in Adoption of Rtls Solutions in Healthcare Industry
9.3 Retail
9.3.1 Rise in Use of Rfid and Barcode Solutions in Retail Industry
9.4 Hospitality
9.4.1 Surge in Adoption of Rfid and Rtls Solutions in Hospitality Industry
9.5 Transportation and Logistics
9.5.1 Rise in Adoption of Passive Rfid and Gps-Based Asset Management Systems in Transportation and Logistics Industry
9.6 Industrial Manufacturing
9.6.1 Automotive
9.6.1.1 Restricted Growth of Asset Management System Market for Automotive on Account of Spread of Covid-19
9.6.2 Aerospace
9.6.2.1 Increase in Use of Rfid Scanners in Aerospace Industry
9.6.3 Other Industrial Manufacturing Segments
9.7 Process Industries
9.7.1 Oil and Gas
9.7.1.1 Surge in Deployment of Asset Management Systems in Oil and Gas Industry to Reduce Unplanned Downtime