The data experts at Market Research Future Reports (MRFR), the global Fixed Asset Management Software Market is projected to value USD 6.2 billion, thriving at a CAGR of 12% during the review period from 2017 to 2023. As per the analysis, the increasing demand for fixed assets across several sectors is predicted to be the most substantial cause affecting the global fixed asset management market 2020. Besides, the growing expenditure on digital marketing is estimated to be a potential factor leading to market growth. In addition, the increasing demand for process automation is projected to magnify the market strength during the assessment period. Furthermore, the burgeoning technical innovations and the proliferation of content is likely to be another pivotal factor leading to market growth.
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The report also reveals that the increased deployment of analytics to monitor the fixed assets is estimated to act as a catalyst in strengthening the market. In addition, increasing mobility solutions and the growing integration of asset management solutions are anticipated to be other crucial factors resulting in market growth. However, the reliability of conventional methods and lack of awareness are likely to impede market growth.
Also, the market dynamics are estimated to change significantly due to the spread of COVID-19. Various regions have been affected due to the outbreak of coronavirus. Due to the pandemic, various companies in the market have temporarily shut their daily operations. The halt caused in business operations is estimated to bring a considerable impact on market revenue. It is estimated that it will take some time to recover from the losses incurred during the observation of lockdown. We will provide an impact analysis report on COVID-19.
The worldwide fixed asset management software market can be distinguished on the basis of organization size, deployment, application, and geography.
On the grounds of organization size, the worldwide fixed asset market can be distinguished into large enterprises and SMEs.
On the basis of deployment, the worldwide fixed asset market can be distinguished into on-premise and cloud-based.
On the grounds of application, the worldwide fixed asset market can be distinguished into accounting, document management, tax management, asset management, asset tracking, and others.
On the grounds of geography, the global fixed asset market can be distinguished into North America, Europe, Asia Pacific, and the Rest of the World (RoW).
A regional analysis of North America, Europe, Asia Pacific, and the Rest of the World (RoW) has been performed. As per the study, the worldwide market is estimated to be dominated by North America. Countries like the U.S. and Canada are estimated to make the most substantial contribution during the assessment period. There has been a rising usage of digital or fixed asset management software which is estimated to be one of the most crucial factors driving the regional growth during the review period. Besides, the growing research and development are likely to be another factor leading to regional expansion. The APAC region is likely to grow exponentially during the review period from 2017 to 2023. The region has been witnessing a surge in demand for enterprise content management in developing economies. Besides, the presence of a large number of manufacturers is anticipated be another significant factor leading to regional expansion.
The established players of the global fixed asset management software market are Cougar Mountain Software (U.S.), Sage Intacct (U.S.), Multiview Corporation (Canada), NetSuite (U.S.), Bloomberg BNA (U.S.), SAP ERP Core Finance (Germany), EAZY ERP (U.S.), AccuFund Accounting Suite (U.S.), and Acumatica ERP (U.S.).
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