Transparency Market Research delivers key insights on the global asset management IT solution market. In terms of revenue, the global asset management IT solution market is estimated to expand at a CAGR of ~11% during the forecast period, owing to numerous factors, regarding which TMR offers thorough insights and forecasts in its report on the global asset management IT solution market.
Asset management IT solutions refer to managing tangible or intangible assets. An asset management IT solution company serves as an advisor to clients, with a goal to maximize returns. Asset management IT solutions consist mainly of software solutions for business operations, including portfolio management, compliance, and trade execution. The solutions further support the asset manager in the decision making process, as they hold critical data on portfolios and stipulated investment guidelines, risk exposures, and compliances.
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Asset management firms are hired by institutional investors such as pension funds, corporations, and high net worth individuals. The asset management firm needs IT solutions for managing assets such as equity, fixed income, real estate, commodities, and international investments. Furthermore, the surge in the demand for asset management IT solutions by asset managers could be attributed to the rising adoption of smartphones and growing Internet penetration, as they provide real-time information about portfolios to clients. This, in turn, is expected to fuel the asset management IT solution market during the forecast period.
Asset management IT solutions enable enterprises to have a clear understanding of the assets they own and ensure they are being utilized in an efficient and cost effective manner, keep track and record of when equipment is bought, and if there is a tenancy lapsing on the asset. Similarly, with the software, it is obligatory to stay well-informed regarding the most recent software and OS. Asset management IT solutions identify whether any harmful or unapproved hardware or software has been installed. Additionally, it allows asset managers to remove any concerning vulnerabilities and avert major issues, thereby ensuring compliance with commercial security policies.
For instance, COVID-19’s economic effect has pushed business leaders to find innovative ways to control and manage their IT budgets. Hence, organizations need to balance temporary IT-cost cutting with long-standing IT cost optimization. Toward the end, businesses should emphasize on reducing asset related expenditure in service of cloud-based systems that helps to mitigate immediate financial pressures.
Furthermore, asset management IT solution security offers an inclusive IT asset inventory and empowers security teams, and the overall business to enforce their network security policies. Cybersecurity asset management includes the identification of cloud assets that are vulnerable due to lack of access control or insecure software. Asset management IT solution security places businesses in a stronger position to detect and respond to security risks.
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For instance, according to KPMG CIO Survey 2020, 39% organizations of asset management IT solution providers have experienced an escalation in cyber cases, due to remote working with malware, with spear phishing attacks topping the list.
Key players operating in the global asset management IT solution market are Alibaba.com, Asset Panda, BMC Software, Inc. (KKR), Dell Technologies, Inc., Flexera Software LLC, Freshworks Inc., Hewlett Packard Enterprise Development LP, IBM Corporation, Infor, Inc., Ivanti Software, Inc., ManageEngine (ZOHO Corp.), Microsoft Corporation, NinjaRMM, LLC, Oracle Corporation, SAP SE, ServiceNow Inc., SimCorp A/S, Snow Software, Inc., SolarWinds, SyAM Software Inc., and SysAid Technologies Ltd.
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