Zion Market Research Global Asset Management System Market, 2016–2024 - Page 3

Asset Management System Market Global Asset Management System Market: Growth Factors Asset management systems are used to track information about the tangible and intangible assets; this, in turn, may drive the global asset management system market growth in the near future. Asset management system is extensively used in the healthcare industry due to its high use for keeping the record of the patients and medical equipment, especially in emergencies. Conversely, huge capital investment and higher maintenance costs are restraining global asset management system market growth. Global Asset Management System Market: Segmentation The global asset management system market is divided based on function, asset type, industry, and solution. The function segment includes check-in/check-out, repair & maintenance, movement tracking, and others. The asset type comprises manufacturing assets, returnable transport assets, electronics assets, personnel, and others. The industry segment consists of healthcare, industrial manufacturing, process industry, retail, transportation and logistics, hospitality, and others. Furthermore, the solution segment includes barcode, radio frequency identification (RFID), global positioning system (GPS), and real-time location system (RTLS). Of these, the barcode is the dominating segment in the global asset management system market. It is widely used in the numerous industries such as transportation and logistics, retail, manufacturing, healthcare, and others. It has accurate identification rates and has low misread ratio. Hence, owing to the significance of the barcode, it is used in various applications including attendance, inventory management, and asset counting. RFID is the second largest in the global market and efficient in the healthcare-related products and the medical device including bed utilization, asset allocation, and patient flow.