Remote Asset Management Market

Remote Asset Management Market Size by Component [Solution (Asset Performance Management, Real-Time Location System, Surveillance & Security, Analytics & Reporting and Others) and Services], Deployment Mode (On-Premises and Cloud), Asset Types (Mobile Asset and Fixed Asset), End-users (Manufacturing, Building Automation, Retail, Healthcare, Transportation & Logistics, Energy & Utility and Others), Regions, Global Industry Analysis, Share, Growth, Trends, and Forecast 2023 to 2032

Base Year: 2022 Historical Data: 2019-21
  • Report ID: TBI-12635
  • Published Date: Oct, 2023
  • Pages: 238
  • Category: Information Technology & Semiconductors
  • Format: PDF
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The global remote asset management market was valued at USD 26.13 Billion in 2022 and grew at a CAGR of 15.06% from 2023 to 2032. The market is expected to reach USD 106.26 Billion by 2032. The demand for remote asset management solutions and services is increasing among different end-user industries, such as manufacturing, logistics and transportation, healthcare, and retail, which is driving the use of such software. Further, increasing investment in the Internet of Things will provide lucrative opportunities to the market.

Market Introduction:

For industries with a high concentration of assets, remote asset management solutions are a combination of technologies and procedures that centrally combine monitoring, tracking, and diagnostics so that they may monitor their assets and improve operational efficiency. Maximizing asset utilization, throughput, and return on investment is the main goal of such solutions. The features of remote asset management solutions may include tracking the whereabouts of assets, getting alerts when maintenance is required, and remotely adjusting operational settings. Using remote asset management software can also aid businesses in enforcing internal compliance or ensuring that staff members follow the rules set forth by organizations to safeguard their fixed assets.

Remote Asset Management Market Size

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Recent Development
  • In January 2019, a significant player, Cisco Systems, launched a remote asset solution, Cisco Validated Design. This solution has helped lower the cost of operations and maintenance of the remote assets.

Market Dynamics:

Drivers

Increasing use of remote asset management among industries: For asset-intensive businesses like oil & gas, power, transportation, supply chain, etc., it offers a consolidated asset perspective. For better asset performance, the solution enables the end-users to monitor several characteristics, including humidity, temperature, battery and power usage, and orientation. It is a one-stop shop for smart asset management that enables the user to monitor the assets' status and usage in real time. Advanced sensor-based functions are used by the real-time asset-tracking solution to deliver quick and useful insights. Even when using various assets, the IoT-based asset management system offers rapid filtering so the customer can check their status in real time and usage patterns. All of this is documented and saved on a safe cloud platform, making it simple to access the asset information.

Restraints:

High investment: Remote asset management with all the features is a more expensive system that costs over $15,000. The midrange ones average around $500 per month. However, it has limited features and does not serve the organization's complete requirements. In addition to this, regularly scheduled software updates are necessary, which adds to the overall cost that the company is spending.

Opportunities:

Rising investment in the IoT industry: The Internet of Things is entering the mainstream of commercial use after years of anticipation. Business use of IoT technologies has climbed from 13% in 2014 to roughly 25%. Furthermore, it is predicted that by 2023, there will be around 43 billion IoT-based devices worldwide. The evolving technologies that support the IoT are both a cause and a motivation for this degree of adoption. The main benefit of technological development is that IoT technology will become simpler to install, allowing a wider range of businesses to take advantage of IoT applications. Remote asset management, integrated into IoT devices, will continue to become increasingly affordable, sophisticated, and accessible.

Regional segmentation analysis:

The regions analyzed for the market include North America, Europe, South America, Asia Pacific, the Middle East, and Africa. North America emerged as the most significant Remote Asset Management market, with a 37.01% market revenue share in 2022.

North America region will account for the largest market share with revenue growth. Nations such as the U.S., Canada and Mexico have a tremendous demand for remote asset management due to well-developed logistics infrastructure, transportation and manufacturing facilities. The presence of major e-commerce and logistics companies has led to a higher demand for remote asset management in the region. The regional agencies support initiatives for integrating remote asset management in several industries. Further, industries are investing in cloud-based solutions and big data analytics, providing lucrative opportunities for remote asset management.

North America region Remote Asset Management Market Share in 2022 - 37.01%

 

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Component Segment Analysis

The component segment is divided into solutions and services. The solution segment further includes asset performance management, real-time location systems, surveillance & security, analytics & reporting and others. The solution segment dominated the market, with a share of around 79.11% in 2022. The remote asset monitoring and management solution aims to simplify remote operations and maintenance chores using IoT technologies. The IoT-based remote asset monitoring and management solution can use these sensors' data to determine whether the received figures are above or below the predetermined values.

Deployment Mode Segment Analysis

The deployment mode segment is divided into on-premises and cloud. The on-premises segment dominated the market, with a share of around 67.29% in 2022. On-premise refers to all software, hardware, and servers inside the organization's buildings. Data security is something that the company must consider while using on-premises asset management.

Asset Types Segment Analysis

The asset types segment is divided into mobile asset and fixed asset. The fixed asset segment dominated the market, with a share of around 69.35% in 2022. Organizations can keep an eye on their machinery, evaluate their state, and keep them in excellent operating order with the help of fixed asset management.

End-users Segment Analysis

The end-users segment is divided into manufacturing, building automation, retail, healthcare, transportation & logistics, energy & utility and others. The manufacturing segment dominated the market, with a share of around 29.81% in 2022. Manufacturing businesses have made asset management their primary concern because these factors are mostly responsible for their overall productivity and performance.

Some of the Key Market Players:
  • Accruent
  • AT&T
  • Ascent Intellimation Pvt. Ltd.
  • Bosch.IO
  • EAMbrace
  • Cisco Systems, Inc.
  • IBM Corporation
  • Hitachi Ltd.
  • Infosys Limited
  • PTC
  • Meridium Inc.
  • RapidValue Solutions
  • ROADWORKS
  • RCS Technologies
  • Rockwell Automation, Inc.
  • Schneider Electric
  • SAP
  • Siemens AG
  • Vodafone Group
  • Verizon

Report Description: 

Attribute Description
Market Size Revenue (USD Billion)
Market size value in 2022 USD 26.13 Billion
Market size value in 2032 USD 106.26 Billion
CAGR (2023 to 2032) 15.06%
Historical data 2019-2021
Base Year 2022
Forecast 2023-2032
Region The regions analyzed for the market are Asia Pacific, Europe, South America, North America, and Middle East & Africa. Furthermore, the regions are further analyzed at the country level.
Segments Component, Deployment Mode, Asset Types and End-users

Frequesntly Asked Questions

As per The Brainy Insights, the size of the remote asset management market was valued USD 26.13 billion in 2022 to USD 106.26 billion by 2032.

Global remote asset management market is growing at a CAGR of 15.06% during the forecast period 2023-2032.

North America region emerged as the largest market for the remote asset management.

The market's growth will be influenced by the rising usage of remote asset management solutions across industries.

The high cost of installation can hamper the market growth.

The rising growth of IoT industry is providing lucrative opportunities to the market.

1. Introduction
    1.1. Objectives of the Study
    1.2. Market Definition
    1.3. Research Scope
    1.4. Currency
    1.5. Key Target Audience

2. Research Methodology and Assumptions

3. Executive Summary

4. Premium Insights
    4.1. Porter’s Five Forces Analysis
    4.2. Value Chain Analysis
    4.3. Top Investment Pockets
          4.3.1. Market Attractiveness Analysis by Component
          4.3.2. Market Attractiveness Analysis by Deployment Mode
          4.3.3. Market Attractiveness Analysis by Asset Types
          4.3.4. Market Attractiveness Analysis by End-users
          4.3.5. Market Attractiveness Analysis by Region
    4.4. Industry Trends

5. Market Dynamics
    5.1. Market Evaluation
    5.2. Drivers
          5.2.1. Increasing usage of remote asset management in different end-users
    5.3. Restraints
          5.3.1. High instalment cost
    5.4. Opportunities
          5.4.1. Increasing growth of IoT industry
    5.5. Challenges
          5.5.1. Lack of required infrastructure

6. Global Remote Asset Management Market Analysis and Forecast, By Component
    6.1. Segment Overview
    6.2. Solution
          6.2.1. Asset Performance Management
          6.2.2. Real Time Location System
          6.2.3. Surveillance & Security
          6.2.4. Analytics & Reporting
          6.2.5. Others
    6.3. Services

7. Global Remote Asset Management Market Analysis and Forecast, By Deployment Mode
    7.1. Segment Overview
    7.2. On-Premises
    7.3. Cloud

8. Global Remote Asset Management Market Analysis and Forecast, By Asset Types
    8.1. Segment Overview
    8.2. Mobile Asset
    8.3. Fixed Asset

9. Global Remote Asset Management Market Analysis and Forecast, By End-users
    9.1. Segment Overview
    9.2. Manufacturing
    9.3. Building Automation
    9.4. Retail
    9.5. Healthcare
    9.6. Transportation & Logistics
    9.7. Energy & Utility
    9.8. Others

10. Global Remote Asset Management Market Analysis and Forecast, By Regional Analysis
    10.1. Segment Overview
    10.2. North America
          10.2.1. U.S.
          10.2.2. Canada
          10.2.3. Mexico
    10.3. Europe
          10.3.1. Germany
          10.3.2. France
          10.3.3. U.K.
          10.3.4. Italy
          10.3.5. Spain
    10.4. Asia-Pacific
          10.4.1. Japan
          10.4.2. China
          10.4.3. India
    10.5. South America
          10.5.1. Brazil
    10.6. Middle East and Africa
          10.6.1. UAE
          10.6.2. South Africa

11. Global Remote Asset Management Market-Competitive Landscape
    11.1. Overview
    11.2. Market Share of Key Players in the Remote Asset Management Market
          11.2.1. Global Company Market Share
          11.2.2. North America Company Market Share
          11.2.3. Europe Company Market Share
          11.2.4. APAC Company Market Share
    11.3. Competitive Situations and Trends
          11.3.1. Product Launches and Developments
          11.3.2. Partnerships, Collaborations, and Agreements
          11.3.3. Mergers & Acquisitions
          11.3.4. Expansions

12. Company Profiles
    12.1. Accruent
          12.1.1. Business Overview
          12.1.2. Company Snapshot
          12.1.3. Company Market Share Analysis
          12.1.4. Company Product Portfolio
          12.1.5. Recent Developments
          12.1.6. SWOT Analysis
    12.2. AT&T
          12.2.1. Business Overview
          12.2.2. Company Snapshot
          12.2.3. Company Market Share Analysis
          12.2.4. Company Product Portfolio
          12.2.5. Recent Developments
          12.2.6. SWOT Analysis
    12.3. Ascent Intellimation Pvt. Ltd.
          12.3.1. Business Overview
          12.3.2. Company Snapshot
          12.3.3. Company Market Share Analysis
          12.3.4. Company Product Portfolio
          12.3.5. Recent Developments
          12.3.6. SWOT Analysis
    12.4. Bosch.IO
          12.4.1. Business Overview
          12.4.2. Company Snapshot
          12.4.3. Company Market Share Analysis
          12.4.4. Company Product Portfolio
          12.4.5. Recent Developments
          12.4.6. SWOT Analysis
    12.5. EAMbrace
          12.5.1. Business Overview
          12.5.2. Company Snapshot
          12.5.3. Company Market Share Analysis
          12.5.4. Company Product Portfolio
          12.5.5. Recent Developments
          12.5.6. SWOT Analysis
    12.6. Cisco Systems, Inc.
          12.6.1. Business Overview
          12.6.2. Company Snapshot
          12.6.3. Company Market Share Analysis
          12.6.4. Company Product Portfolio
          12.6.5. Recent Developments
          12.6.6. SWOT Analysis
    12.7. IBM Corporation
          12.7.1. Business Overview
          12.7.2. Company Snapshot
          12.7.3. Company Market Share Analysis
          12.7.4. Company Product Portfolio
          12.7.5. Recent Developments
          12.7.6. SWOT Analysis
    12.8. Hitachi Ltd.
          12.8.1. Business Overview
          12.8.2. Company Snapshot
          12.8.3. Company Market Share Analysis
          12.8.4. Company Product Portfolio
          12.8.5. Recent Developments
          12.8.6. SWOT Analysis
    12.9. Infosys Limited
          12.9.1. Business Overview
          12.9.2. Company Snapshot
          12.9.3. Company Market Share Analysis
          12.9.4. Company Product Portfolio
          12.9.5. Recent Developments
          12.9.6. SWOT Analysis
    12.10. PTC
          12.10.1. Business Overview
          12.10.2. Company Snapshot
          12.10.3. Company Market Share Analysis
          12.10.4. Company Product Portfolio
          12.10.5. Recent Developments
          12.10.6. SWOT Analysis
    12.11. Meridium Inc.
          12.11.1. Business Overview
          12.11.2. Company Snapshot
          12.11.3. Company Market Share Analysis
          12.11.4. Company Product Portfolio
          12.11.5. Recent Developments
          12.11.6. SWOT Analysis
    12.12. RapidValue Solutions
          12.12.1. Business Overview
          12.12.2. Company Snapshot
          12.12.3. Company Market Share Analysis
          12.12.4. Company Product Portfolio
          12.12.5. Recent Developments
          12.12.6. SWOT Analysis
    12.13. ROAMWORKS
          12.13.1. Business Overview
          12.13.2. Company Snapshot
          12.13.3. Company Market Share Analysis
          12.13.4. Company Product Portfolio
          12.13.5. Recent Developments
          12.13.6. SWOT Analysis
    12.14. RCS Technologies
          12.14.1. Business Overview
          12.14.2. Company Snapshot
          12.14.3. Company Market Share Analysis
          12.14.4. Company Product Portfolio
          12.14.5. Recent Developments
          12.14.6. SWOT Analysis
    12.15. Rockwell Automation, Inc.
          12.15.1. Business Overview
          12.15.2. Company Snapshot
          12.15.3. Company Market Share Analysis
          12.15.4. Company Product Portfolio
          12.15.5. Recent Developments
          12.15.6. SWOT Analysis
    12.16. Schneider Electric
          12.16.1. Business Overview
          12.16.2. Company Snapshot
          12.16.3. Company Market Share Analysis
          12.16.4. Company Product Portfolio
          12.16.5. Recent Developments
          12.16.6. SWOT Analysis
    12.17. SAP
          12.17.1. Business Overview
          12.17.2. Company Snapshot
          12.17.3. Company Market Share Analysis
          12.17.4. Company Product Portfolio
          12.17.5. Recent Developments
          12.17.6. SWOT Analysis
    12.18. Siemens AG
          12.18.1. Business Overview
          12.18.2. Company Snapshot
          12.18.3. Company Market Share Analysis
          12.18.4. Company Product Portfolio
          12.18.5. Recent Developments
          12.18.6. SWOT Analysis
    12.19. Vodafone Group
          12.19.1. Business Overview
          12.19.2. Company Snapshot
          12.19.3. Company Market Share Analysis
          12.19.4. Company Product Portfolio
          12.19.5. Recent Developments
          12.19.6. SWOT Analysis
    12.20. Verizon
          12.20.1. Business Overview
          12.20.2. Company Snapshot
          12.20.3. Company Market Share Analysis
          12.20.4. Company Product Portfolio
          12.20.5. Recent Developments
          12.20.6. SWOT Analysis
 

List of Table

1. Global Remote Asset Management Market, By Component, 2019-2032 (USD Billion) 

2. Global Solution, Remote Asset Management Market, By Region, 2019-2032 (USD Billion) 

3. Global Services, Remote Asset Management Market, By Region, 2019-2032 (USD Billion) 

4. Global Remote Asset Management Market, By Deployment Mode, 2019-2032 (USD Billion) 

5. Global On-premises, Remote Asset Management Market, By Region, 2019-2032 (USD Billion) 

6. Global Cloud, Remote Asset Management Market, By Region, 2019-2032 (USD Billion) 

7. Global Remote Asset Management Market, By Asset Types, 2019-2032 (USD Billion) 

8. Global Mobile Asset, Remote Asset Management Market, By Region, 2019-2032 (USD Billion) 

9. Global Fixed Asset, Remote Asset Management Market, By Region, 2019-2032 (USD Billion) 

10. Global Remote Asset Management Market, By End-users, 2019-2032 (USD Billion) 

11. Global Manufacturing, Remote Asset Management Market, By Region, 2019-2032 (USD Billion) 

12. Global Building Automation, Remote Asset Management Market, By Region, 2019-2032 (USD Billion) 

13. Global Retail, Remote Asset Management Market, By Region, 2019-2032 (USD Billion) 

14. Global Healthcare, Remote Asset Management Market, By Region, 2019-2032 (USD Billion) 

15. Global Transportation & Logistics, Remote Asset Management Market, By Region, 2019-2032 (USD Billion) 

16. Global Energy & Utility, Remote Asset Management Market, By Region, 2019-2032 (USD Billion) 

17. Global Others, Remote Asset Management Market, By Region, 2019-2032 (USD Billion) 

18. Global Remote Asset Management Market, By Region, 2019-2032 (USD Billion) 

19. North America Remote Asset Management Market, By Component, 2019-2032 (USD Billion) 

20. North America Remote Asset Management Market, By Deployment Mode, 2019-2032 (USD Billion) 

21. North America Remote Asset Management Market, By Asset Types, 2019-2032 (USD Billion)

22. North America Remote Asset Management Market, By End-users, 2019-2032 (USD Billion) 

23. U.S. Remote Asset Management Market, By Component, 2019-2032 (USD Billion) 

24. U.S. Remote Asset Management Market, By Deployment Mode, 2019-2032 (USD Billion) 

25. U.S. Remote Asset Management Market, By Asset Types, 2019-2032 (USD Billion) 

26. U.S. Remote Asset Management Market, By End-users, 2019-2032 (USD Billion) 

27. Canada Remote Asset Management Market, By Component, 2019-2032 (USD Billion) 

28. Canada Remote Asset Management Market, By Deployment Mode, 2019-2032 (USD Billion) 

29. Canada Remote Asset Management Market, By Asset Types, 2019-2032 (USD Billion) 

30. Canada Remote Asset Management Market, By End-users, 2019-2032 (USD Billion) 

31. Mexico Remote Asset Management Market, By Component, 2019-2032 (USD Billion) 

32. Mexico Remote Asset Management Market, By Deployment Mode, 2019-2032 (USD Billion) 

33. Mexico Remote Asset Management Market, By Asset Types, 2019-2032 (USD Billion) 

34. Mexico Remote Asset Management Market, By End-users, 2019-2032 (USD Billion) 

35. Europe Remote Asset Management Market, By Component, 2019-2032 (USD Billion) 

36. Europe Remote Asset Management Market, By Deployment Mode, 2019-2032 (USD Billion) 

37. Europe Remote Asset Management Market, By Asset Types, 2019-2032 (USD Billion)

38. Europe Remote Asset Management Market, By End-users, 2019-2032 (USD Billion) 

39. Germany Remote Asset Management Market, By Component, 2019-2032 (USD Billion) 

40. Germany Remote Asset Management Market, By Deployment Mode, 2019-2032 (USD Billion) 

41. Germany Remote Asset Management Market, By Asset Types, 2019-2032 (USD Billion) 

42. Germany Remote Asset Management Market, By End-users, 2019-2032 (USD Billion) 

43. France Remote Asset Management Market, By Component, 2019-2032 (USD Billion) 

44. France Remote Asset Management Market, By Deployment Mode, 2019-2032 (USD Billion) 

45. France Remote Asset Management Market, By Asset Types, 2019-2032 (USD Billion) 

46. France Remote Asset Management Market, By End-users, 2019-2032 (USD Billion) 

47. U.K. Remote Asset Management Market, By Component, 2019-2032 (USD Billion) 

48. U.K. Remote Asset Management Market, By Deployment Mode, 2019-2032 (USD Billion) 

49. U.K. Remote Asset Management Market, By Asset Types, 2019-2032 (USD Billion) 

50. U.K. Remote Asset Management Market, By End-users, 2019-2032 (USD Billion) 

51. Italy Remote Asset Management Market, By Component, 2019-2032 (USD Billion) 

52. Italy Remote Asset Management Market, By Deployment Mode, 2019-2032 (USD Billion) 

53. Italy Remote Asset Management Market, By Asset Types, 2019-2032 (USD Billion) 

54. Italy Remote Asset Management Market, By End-users, 2019-2032 (USD Billion) 

55. Spain Remote Asset Management Market, By Component, 2019-2032 (USD Billion) 

56. Spain Remote Asset Management Market, By Deployment Mode, 2019-2032 (USD Billion) 

57. Spain Remote Asset Management Market, By Asset Types, 2019-2032 (USD Billion) 

58. Spain Remote Asset Management Market, By End-users, 2019-2032 (USD Billion) 

59. Asia Pacific Remote Asset Management Market, By Component, 2019-2032 (USD Billion) 

60. Asia Pacific Remote Asset Management Market, By Deployment Mode, 2019-2032 (USD Billion) 

61. Asia Pacific Remote Asset Management Market, By Asset Types, 2019-2032 (USD Billion) 

62. Asia Pacific Remote Asset Management Market, By End-users, 2019-2032 (USD Billion) 

63. Japan Remote Asset Management Market, By Component, 2019-2032 (USD Billion) 

64. Japan Remote Asset Management Market, By Deployment Mode, 2019-2032 (USD Billion) 

65. Japan Remote Asset Management Market, By Asset Types, 2019-2032 (USD Billion)

66. Japan Remote Asset Management Market, By End-users, 2019-2032 (USD Billion) 

67. China Remote Asset Management Market, By Component, 2019-2032 (USD Billion) 

68. China Remote Asset Management Market, By Deployment Mode, 2019-2032 (USD Billion) 

69. China Remote Asset Management Market, By Asset Types, 2019-2032 (USD Billion) 

70. China Remote Asset Management Market, By End-users, 2019-2032 (USD Billion) 

71. India Remote Asset Management Market, By Component, 2019-2032 (USD Billion) 

72. India Remote Asset Management Market, By Deployment Mode, 2019-2032 (USD Billion) 

73. India Remote Asset Management Market, By Asset Types, 2019-2032 (USD Billion) 

74. India Remote Asset Management Market, By End-users, 2019-2032 (USD Billion) 

75. South America Remote Asset Management Market, By Component, 2019-2032 (USD Billion) 

76. South America Remote Asset Management Market, By Deployment Mode, 2019-2032 (USD Billion) 

77. South America Remote Asset Management Market, By Asset Types, 2019-2032 (USD Billion) 

78. South America Remote Asset Management Market, By End-users, 2019-2032 (USD Billion) 

79. Brazil Remote Asset Management Market, By Component, 2019-2032 (USD Billion) 

80. Brazil Remote Asset Management Market, By Deployment Mode, 2019-2032 (USD Billion) 

81. Brazil Remote Asset Management Market, By Asset Types, 2019-2032 (USD Billion) 

82. BrazilRemote Asset Management Market, By End-users, 2019-2032 (USD Billion) 

83. Middle East and Africa Remote Asset Management Market, By Component, 2019-2032 (USD Billion) 

84. Middle East and Africa Remote Asset Management Market, By Deployment Mode, 2019-2032 (USD Billion) 

85. Middle East and Africa Remote Asset Management Market, By Asset Types, 2019-2032 (USD Billion) 

86. Middle East and Africa Remote Asset Management Market, By End-users, 2019-2032 (USD Billion) 

87. UAE Remote Asset Management Market, By Component, 2019-2032 (USD Billion) 

88. UAE Remote Asset Management Market, By Deployment Mode, 2019-2032 (USD Billion) 

89. UAE Remote Asset Management Market, By Asset Types, 2019-2032 (USD Billion) 

90. UAE Remote Asset Management Market, By End-users, 2019-2032 (USD Billion) 

91. South Africa Remote Asset Management Market, By Component, 2019-2032 (USD Billion) 

92. South Africa Remote Asset Management Market, By Deployment Mode, 2019-2032 (USD Billion) 

93. South Africa Remote Asset Management Market, By Asset Types, 2019-2032 (USD Billion) 

94. South Africa Remote Asset Management Market, By End-users, 2019-2032 (USD Billion)  

List of Figures

1. Global Remote Asset Management Market Segmentation

2. Remote Asset Management Market: Research Methodology

3. Market Size Estimation Methodology: Bottom-Up Approach

4. Market Size Estimation Methodology: Top-Down Approach

5. Data Triangulation

6. Porter’s Five Forces Analysis 

7. Value Chain Analysis 

8. Global Remote Asset Management Market Attractiveness Analysis by Component

9. Global Remote Asset Management Market Attractiveness Analysis by Deployment Mode

10. Global Remote Asset Management Market Attractiveness Analysis by Asset Types

11. Global Remote Asset Management Market Attractiveness Analysis by End-users

12. Global Remote Asset Management Market Attractiveness Analysis by Region

13. Global Remote Asset Management Market: Dynamics

14. Global Remote Asset Management Market Share by Component (2022 & 2032)

15. Global Remote Asset Management Market Share by Deployment Mode (2022 & 2032)

16. Global Remote Asset Management Market Share by Asset Types (2022 & 2032)

17. Global Remote Asset Management Market Share by End-users (2022 & 2032)

18. Global Remote Asset Management Market Share by Regions (2022 & 2032)

19. Global Remote Asset Management Market Share by Company (2022)

This study forecasts revenue at global, regional, and country levels from 2019 to 2032. The Brainy Insights has segmented the global remote asset management market based on below mentioned segments:

Global Remote Asset Management Market by Component:

  • Solution
    • Asset Performance Management
    • Real Time Location System
    • Surveillance & Security
    • Analytics & Reporting
    • Others
  • Services

Global Remote Asset Management Market by Deployment Mode:

  • On-Premises
  • Cloud

Global Remote Asset Management Market by Asset Types:

  • Mobile Asset
  • Fixed Asset

Global Remote Asset Management Market by End-users:

  • Manufacturing
  • Building Automation
  • Retail
  • Healthcare
  • Transportation & Logistics
  • Energy & Utility
  • Others

Global Remote Asset Management Market by Region:

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • France
    • U.K.
    • Italy
    • Spain
  • Asia-Pacific
    • Japan
    • China
    • India
  • South America
    • Brazil
  • Middle East and Africa  
    • UAE
    • South Africa

Methodology

Research has its special purpose to undertake marketing efficiently. In this competitive scenario, businesses need information across all industry verticals; the information about customer wants, market demand, competition, industry trends, distribution channels etc. This information needs to be updated regularly because businesses operate in a dynamic environment. Our organization, The Brainy Insights incorporates scientific and systematic research procedures in order to get proper market insights and industry analysis for overall business success. The analysis consists of studying the market from a miniscule level wherein we implement statistical tools which helps us in examining the data with accuracy and precision. 

Our research reports feature both; quantitative and qualitative aspects for any market. Qualitative information for any market research process are fundamental because they reveal the customer needs and wants, usage and consumption for any product/service related to a specific industry. This in turn aids the marketers/investors in knowing certain perceptions of the customers. Qualitative research can enlighten about the different product concepts and designs along with unique service offering that in turn, helps define marketing problems and generate opportunities. On the other hand, quantitative research engages with the data collection process through interviews, e-mail interactions, surveys and pilot studies. Quantitative aspects for the market research are useful to validate the hypotheses generated during qualitative research method, explore empirical patterns in the data with the help of statistical tools, and finally make the market estimations.

The Brainy Insights offers comprehensive research and analysis, based on a wide assortment of factual insights gained through interviews with CXOs and global experts and secondary data from reliable sources. Our analysts and industry specialist assume vital roles in building up statistical tools and analysis models, which are used to analyse the data and arrive at accurate insights with exceedingly informative research discoveries. The data provided by our organization have proven precious to a diverse range of companies, facilitating them to address issues such as determining which products/services are the most appealing, whether or not customers use the product in the manner anticipated, the purchasing intentions of the market and many others.

Our research methodology encompasses an idyllic combination of primary and secondary initiatives. Key phases involved in this process are listed below:

MARKET RESEARCH PROCESS

Data Procurement:

The phase involves the gathering and collecting of market data and its related information with the help of different sources & research procedures.

The data procurement stage involves in data gathering and collecting through various data sources.

This stage involves in extensive research. These data sources includes:

Purchased Database: Purchased databases play a crucial role in estimating the market sizes irrespective of the domain. Our purchased database includes:

  • The organizational databases such as D&B Hoovers, and Bloomberg that helps us to identify the competitive scenario of the key market players/organizations along with the financial information.
  • Industry/Market databases such as Statista, and Factiva provides market/industry insights and deduce certain formulations. 
  • We also have contractual agreements with various reputed data providers and third party vendors who provide information which are not limited to:
    • Import & Export Data
    • Business Trade Information
    • Usage rates of a particular product/service on certain demographics mainly focusing on the unmet prerequisites

Primary Research: The Brainy Insights interacts with leading companies and experts of the concerned domain to develop the analyst team’s market understanding and expertise. It improves and substantiates every single data presented in the market reports. Primary research mainly involves in telephonic interviews, E-mail interactions and face-to-face interviews with the raw material providers, manufacturers/producers, distributors, & independent consultants. The interviews that we conduct provides valuable data on market size and industry growth trends prevailing in the market. Our organization also conducts surveys with the various industry experts in order to gain overall insights of the industry/market. For instance, in healthcare industry we conduct surveys with the pharmacists, doctors, surgeons and nurses in order to gain insights and key information of a medical product/device/equipment which the customers are going to usage. Surveys are conducted in the form of questionnaire designed by our own analyst team. Surveys plays an important role in primary research because surveys helps us to identify the key target audiences of the market. Additionally, surveys helps to identify the key target audience engaged with the market. Our survey team conducts the survey by targeting the key audience, thus gaining insights from them. Based on the perspectives of the customers, this information is utilized to formulate market strategies. Moreover, market surveys helps us to understand the current competitive situation of the industry. To be precise, our survey process typically involve with the 360 analysis of the market. This analytical process begins by identifying the prospective customers for a product or service related to the market/industry to obtain data on how a product/service could fit into customers’ lives.

Secondary Research: The secondary data sources includes information published by the on-profit organizations such as World bank, WHO, company fillings, investor presentations, annual reports, national government documents, statistical databases, blogs, articles, white papers and others. From the annual report, we analyse a company’s revenue to understand the key segment and market share of that organization in a particular region. We analyse the company websites and adopt the product mapping technique which is important for deriving the segment revenue. In the product mapping method, we select and categorize the products offered by the companies catering to domain specific market, deduce the product revenue for each of the companies so as to get overall estimation of the market size. We also source data and analyses trends based on information received from supply side and demand side intermediaries in the value chain. The supply side denotes the data gathered from supplier, distributor, wholesaler and the demand side illustrates the data gathered from the end customers for respective market domain.

The supply side for a domain specific market is analysed by:

  • Estimating and projecting penetration rates through analysing product attributes, availability of internal and external substitutes, followed by pricing analysis of the product.
  • Experiential assessment of year-on-year sales of the product by conducting interviews.

The demand side for the market is estimated through:

  • Evaluating the penetration level and usage rates of the product.
  • Referring to the historical data to determine the growth rate and evaluate the industry trends

In-house Library: Apart from these third-party sources, we have our in-house library of qualitative and quantitative information. Our in-house database includes market data for various industry and domains. These data are updated on regular basis as per the changing market scenario. Our library includes, historic databases, internal audit reports and archives.

Sometimes there are instances where there is no metadata or raw data available for any domain specific market. For those cases, we use our expertise to forecast and estimate the market size in order to generate comprehensive data sets. Our analyst team adopt a robust research technique in order to produce the estimates:

  • Applying demographic along with psychographic segmentation for market evaluation
  • Determining the Micro and Macro-economic indicators for each region 
  • Examining the industry indicators prevailing in the market. 

Data Synthesis: This stage involves the analysis & mapping of all the information obtained from the previous step. It also involves in scrutinizing the data for any discrepancy observed while data gathering related to the market. The data is collected with consideration to the heterogeneity of sources. Robust scientific techniques are in place for synthesizing disparate data sets and provide the essential contextual information that can orient market strategies. The Brainy Insights has extensive experience in data synthesis where the data passes through various stages:

  • Data Screening: Data screening is the process of scrutinising data/information collected from primary research for errors and amending those collected data before data integration method. The screening involves in examining raw data, identifying errors and dealing with missing data. The purpose of the data screening is to ensure data is correctly entered or not. The Brainy Insights employs objective and systematic data screening grades involving repeated cycles of quality checks, screening and suspect analysis.
  • Data Integration: Integrating multiple data streams is necessary to produce research studies that provide in-depth picture to the clients. These data streams come from multiple research studies and our in house database. After screening of the data, our analysts conduct creative integration of data sets, optimizing connections between integrated surveys and syndicated data sources. There are mainly 2 research approaches that we follow in order to integrate our data; top down approach and bottom up approach.

Market Deduction & Formulation: The final stage comprises of assigning data points at appropriate market spaces so as to deduce feasible conclusions. Analyst perspective & subject matter expert based holistic form of market sizing coupled with industry analysis also plays a crucial role in this stage.

This stage involves in finalization of the market size and numbers that we have collected from data integration step. With data interpolation, it is made sure that there is no gap in the market data. Successful trend analysis is done by our analysts using extrapolation techniques, which provide the best possible forecasts for the market.

Data Validation & Market Feedback: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helps us finalize data-points to be used for final calculations.

The Brainy Insights interacts with leading companies and experts of the concerned domain to develop the analyst team’s market understanding and expertise. It improves and substantiates every single data presented in the market reports. The data validation interview and discussion panels are typically composed of the most experienced industry members. The participants include, however, are not limited to:

  • CXOs and VPs of leading companies’ specific to sector
  • Purchasing managers, technical personnel, end-users
  • Key opinion leaders such as investment bankers, and industry consultants

Moreover, we always validate our data and findings through primary respondents from all the major regions we are working on.

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