The global asset management IT solutions market is projected to exhibit modest growth, at a CAGR of around 8.6%, during the forecast period. The increasing demand for cloud-based asset management IT solutions is likely to create ample opportunities for the growth of the market. The enterprises are aimed to deploy cloud-based solutions owing to various benefits offered by cloud-based deployments such as enhanced collaboration, scalability, and cost-efficiency. On-premises implementation demands a huge amount of capital and time and requires enterprises to significantly invest in the proper communication infrastructure, sufficient storage devices, and the right servers along with the skilled professionals for the operation and proper functioning of the system.
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The cloud-based solutions do not demand any hardware and are easily scalable to fit the needs of an organization. Deploying cloud-based asset management IT solutions aids in better focus on the core competencies, instead of focusing on their IT processes in the small, medium and large enterprises. Moreover, cloud-based asset management IT solutions also provide a centralized way of integrating system and its components with web and mobile applications, and it efficiently enhances the performance of the organization’s asset-intensive tasks, which is driving the growth of the asset management IT solutions market.
Besides, cloud-based asset management IT solutions allow easy maintenance, as it does not require any manual upgradations and installation of novel features. It also allows the users to easily carry out updates frequently for the improvement in software stability. Moreover, when compared with the on-premises asset management IT solutions, cloud-based asset management IT solutions are great for data security concerns. The continuous technological advancements in the asset management IT solutions make it great for security concerns. Numerous cloud-based solutions provide state-of-the-art security tools and support GDPR compliance, which offers 24/7 security monitoring and also combat the cyber-attacks.
In addition, when compared with the reliability of on-premise asset management IT solutions, a cloud-based solution is considered as more reliable, as the data centres are geographically dispersed along with storage. The technologically advanced features of the cloud-based asset management IT solutions allow asset-intensive organizations to seamlessly adopt these solutions. Thus, cloud-based solutions make it easier for enterprises to gain business intelligence and enhance the use and value of enterprise assets, owing to which, significant opportunistic growth is expected for the asset management IT solutions market. For the use of asset-intensive systems to offer efficient data management and better asset utilization, the integration of big data analytics along with the introduction of several cloud-based solutions are projected to create ample opportunities for market growth.
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Global Asset Management IT Solutions Market-Segmentation
By Product Type
- Cloud-based
- On-Premises
Global Asset Management IT Solutions Market– Segment by Region
North America
- United States
- Canada
Europe
- UK
- Germany
- Spain
- France
- Italy
- Rest of Europe
Asia-Pacific
- India
- China
- Japan
- South Korea
- Rest of APAC
Rest of The World
- Latin America
- Middle East & Africa
Company Profiles
- Asset Panda, LLC
- CGI Inc.
- EZOfficeInventory
- Freshworks Inc.
- Fujitsu Ltd.
- GoCodes Asset Management
- IBM Corp.
- InvGate
- IT Asset Management Solutions Ltd. (ITAMS)
- ManageEngine (Zoho Corp.)
- Micro Focus
- monday.com
- Samanage (SolarWinds Worldwide, LLC)
- Snipe-IT (Grokability, Inc.)
- SolutionDot
- Spiceworks, Inc.
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