The global asset management and inventory management solution market is anticipated to grow at a significant CAGR during the forecast period. The inventory management system was created to assist firms in managing their inventories. Asset monitoring and inventory management solutions are used to keep track of item numbers, personal assignments, and maintenance requirements. Asset monitoring software assists businesses to reduce their stock and inventory management expenditures, allowing them to make better use of their existing inventory and equipment. This solution assists businesses in lowering the cost of stock and inventory management while maximising the use of existing resources through real-time and non-real-time monitoring and tracking.
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The global asset monitoring and inventory management market is predicted to grow rapidly over the forecasted period, due to the proliferation of retail establishments and e-commerce industries. The deployment of this solution can help the organisation save time by eliminating the need for staff to manually recode data, as well as lowering the risk of record errors. Furthermore, by implementing this asset monitoring system, businesses may concentrate on more sophisticated duties rather than tracking and managing assets and inventory, which can help them grow their business.
Small and medium businesses are increasingly growing their demand for barcode and RFID solutions to track and manage assets. This element is propelling the industry forward. Furthermore, technological advancements and enterprise adoption of the latest and advanced technologies such as IIoT, predictive maintenance, and augmented reality is boosting the market’s growth.
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Market Coverage
- Segment Covered-
o By Industry
o By Components
o By Application
- Competitive Landscape: Honeywell International Inc., Microsoft Corp., Oracle Corp., Datalogic S.P.A., Lowry Solutions and others.
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominates the market in base year?
- Which segment and region will project fastest growth in the market?
- How COVID-19 impacted the market?
o Recovery Timeline
o Deviation from pre-COVID forecast
o Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
Global Asset Tracking And Inventory Management Solutions Market by Segments
By Component
- Hardware
- Software
- Services
By Industry
- Retail
- BFSI
- IT & Telecom
- Others
By Application
- IT Asset Tracking
- Equipment Tracking
- Facility Management
- Others
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