Asia-Pacific
(APAC) is expected to grow at the highest growth rate in the asset
management system market and would be
led by China and India. The transition toward organized retailing, multifold
growth of ecommerce, induction of more healthcare facilities, and automation in
the manufacturing industry are some of the factors expected to drive the growth
of the market in the APAC region.
The
asset management system market is expected to reach USD 25.55 Billion by 2022,
at a CAGR of 15.17% between 2016 and 2022. The growth of the market is
propelled by factors such as optimum resource utilization offered by efficient
asset tracking and management and reduced maintenance downtime owing to
deployment of relevant solutions such as Real-Time Location System (RTLS),
Radio-Frequency Identification (RFID), barcode, and Global Positioning System
(GPS).
RTLS
solutions available in the market based on different technologies are wireless
fidelity (Wi-Fi), ultra- wide band (UWB), Infrared, Bluetooth LE, and
Ultrasound among others. The customer could choose an asset management solution
according to their requirement. Moreover, the advent of wireless technology has
made it possible to deploy these solutions wirelessly. RTLS enable an organization
to control and monitor its resources such as personnel and machine across the
premises in real time. Furthermore, quick turnaround and return of investment
(ROI) in less than two years is realized for a typical project. Considering
these factors, the asset management system market for RTLS solutions is
expected to exhibit the highest growth rate in comparison to other solutions.
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Barcode
scanners have existed in the market since a long time and play a key role in
the area of auto identification and data capture. Barcode solution is a labor
intensive technology but could be implemented at a much lower cost than other
solutions. Industrial stationary scanner is expected to drive the barcode
solution segment owing to the demand for machine visions system for automated
inspection and identification in the production process across many industries.
The
retail industry is estimated to hold the largest share of the asset management
system market in 2016 owing to adoption of barcode and RFID solutions for
in-store retail automation and supply chain visibility. Passive ultra high
frequency (UHF) tags are widely adopted in merchandise tagging, while barcode
scanners are used to read loyalty cards, one-dimensional (1D) barcode, and
two-dimensional (2D) barcodes.
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