DUBLIN--(BUSINESS WIRE)--Research and Markets has announced the addition of the "Asset Management System Market by Solution (RFID, RTLS, GPS and Barcode), Asset Type (Electronics Assets, Returnable Transport Assets, In-Transit Equipment, Manufacturing Assets and Personnel), Industry and Geography - Global Forecast to 2022" report to their offering.
The Asset Management System Market is Expected to Reach USD 25.55 Billion by 2022, Growing at a CAGR of 15.17% Between 2016 and 2022
Asset management systems enable an organization to track and monitor its physical and human assets, along with their associated performance, thus resulting in the efficient utilization of its assets. These key factors are driving the growth of the asset management system market. However, high initial installation cost and significant maintenance cost linked with deployment of asset management system solutions are some of the key factors restraining the growth of the asset management system market.
The asset management system market for the healthcare industry is expected to grow at the highest rate owing to the use of advanced technologies which help in the instant tracking of patients and medical equipment whenever required, especially in emergency situations. Real-Time Location System (RTLS) and barcode solutions are compatible with the medical device and other healthcare related products and helps to improve patient flow, bed utilization, and asset allocation. The deployment of these solutions results in a visible return on investment (ROI) in a short payback period.
In the field of auto-identification and data capture (AIDC), barcode is the pioneer technology and widely used in various industries such as retail, industrial manufacturing, transportation and logistics, healthcare, and others. Barcode systems for asset tracking offer relatively accurate identification rates and have a low misread ratio. Simplified operations and cost-effective characteristics of barcode systems are driving their adoption for various applications such as inventory management, asset counting, and attendance among others.
The asset management system market in the Asia-Pacific (APAC) region is expected to grow at the highest rate between 2016 and 2022. Factors such as the transition from traditional retail to organized retail, high growth in the e-commerce sector, and increasing demand for factory automation are driving the growth of the asset management system market in the APAC region.
- Optimum Resource Utilization by Efficient Asset Tracking and Management
- Reduced Maintenance Downtime
- High Initial Cost and Significant Maintenance Expenditure
- Opportunities Created by Smart Factories in Industrial Manufacturing
- Rising Demand for Asset Management Solutions (RFID, RTLS, Barcode) from Industries in Asia-Pacific and the Middle East
- Increase in the Demand for Image-Based Solutions in the Barcode Scanner Market
- Complicated Trade-Off Between Accuracy, Range, and Power Consumption Posing a Challenge for RTLS Providers
The key players in the asset management system market are
- Datalogic S.P.A.
- Honeywell International Inc.
- Impinj, Inc.
- Mojix Inc.
- Sato Holdings Corporation
- Stanley Black & Decker, Inc.
- Tomtom International BV
- Topcon Corporation
- Trimble Inc.
- Ubisense Group Plc
- Zebra Technologies Corporation
For more information about this report visit http://www.researchandmarkets.com/research/crttn6/asset_management