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According to a new market research report published by Credence Research 鈥淕lobal聽Asset Tracking and Inventory Management Solutions Market聽(Component (Services, Hardware, Software); Application (Facility Management, IT Asset Tracking, Equipment Tracking, Funding Management, Tool Tracking, Warehouse Management Cheap Adidas Superstar Splash , Mandate Compliance, Others); Deployment (Cloud, On-Premise); Organization Size (Large Enterprises, SMEs); End-Users (BFSI,Retail, Healthcare, IT & Telecom, Transportation Cheap Adidas Superstar Slip On , Hospitality, Energy & Utilities, Manufacturing, Oil & Gas, Government, Others)) 鈥?Growth, Future Prospects and Competitive Analysis,2019 – 2027鈥?the overall asset tracking and inventory management solutions market worldwide is expected to reach at a value of US$43.60 Bn in 2027 and is set to grow with a CAGR of 14.6% during the forecast period.
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Market Insights
The rising need for a solution to sustain the organization’s assets and stock pushes monitoring and inventory management solutions globally. Various business organisations Cheap Adidas Superstar II , sectors and government facilities are implementing strategies for monitoring and maintaining inventories to reduce human effort, improve product life cycle management, reduce operating costs, and others. Such benefits allow companies to increase their profitability.
Application-based asset tracking and inventory management solutions market segmented as facility management, IT asset tracking, equipment tracking, financing management, tool tracking Cheap Adidas Superstar Foundation , warehouse management, mandate compliance, and others. In 2018, the facility management segments dominated the application segment with a market share of more than 20.0 per cent and are expected to dominate the market during the forecast period. The facility management section maintains information on all equipment, components or parts of systems used within the facility, such as plants.
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In addition, these solutions allow the user to identify the location of the components which decreases human effort and saves time for work. The growth in industrialization globally is one of the main factors driving the market, as asset monitoring and inventory management systems provide data and track record of parts Cheap Adidas Superstar CLR , goods or objects acquired, sold or used within an enterprise.
North America accounted for the second largest market share for the asset tracking and inventory management solutions market due to the presence of various IT, telecom, manufacturing and hospitality industries in the region. The region is expected to grow with a CAGR of more than 12.0% during the forecast period, due to increasing demand for the asset management and inventory management solution by various companies. The increasing adoption of asset tracking and inventory management solutions by small & medium enterprises is also driving the market in the region.
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Some of the prominent players operating in the asset tracking and inventory management solutions market include Oracle Corporation, JDA Software, Microsoft Corporation, Honeywell International Inc. Cheap Adidas Superstar Classic , Zebra Technologies Corporation, RedBeam, Inc., ASAP Systems, LLC, Datalogic S.P.A., EMS Barcode Solutions, GigaTrak Cheap Adidas Superstar 80s , Stanley Black & Decker, Inc., Epicor Software Corporation, SAP SE, Wasp Barcode Technologies, Inc., Jolly Technologies, and Lowry Solutions Inc.
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