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Asset Management Market to Attain a Valuation of USD 7,553.96 BN by 2032

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Ottawa, June 07, 2023 (GLOBE NEWSWIRE) — According to Precedence Research, the global asset management market size is expected to expand around USD 4,143.60 billion by 2030. The asset management market growth is anticipated to be driven by the ability of asset management solutions to enhance operational efficiency, optimize resource utilization, and increase profitability, ultimately leading to improved Return on Investment (RoI). Asset management services and solutions can aid in reducing inventory and stock management costs, while efficiently managing existing assets through real-time tracking and management. Solutions for personnel tracking can improve workforce safety and efficiency. In the healthcare industry, personnel and equipment tracking can significantly improve patient care.

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The advent of digitization opened up ample opportunities for the organizations to improve their relationships with the customers. The Asset-intensive organizations realized the importance of addressing the intricacies involved in the management, and are, therefore, investing heavily ina advanced and innovative solution to significantly transform and also upgrade their operational processes. These organizations are adopting cutting-edge technologies such as the Artificial Intelligence (AI), a predictive maintenance, with Augmented Reality (AR), the Internet of Things (IoT) and the telematics to accurately assess performance of their own physical assets. They are actively deploying modern management solutions, to further improve the longevity of the assets.

The deployment of on-premises solutions is often associated with substantial temporal, financial, and spatial commitments, as well as the engagement of expert professionals to perform maintenance and operational tasks. Conversely, cloud-based solutions and services preclude the necessity for supplementary hardware installation and facilitate accessibility on rudimentary gadgets like smartphones, laptops, and personal computers. Cloud-based solutions further ensure the trustworthiness of data and its availability through storage in distributed data centers across the globe. Additionally, cloud-based solutions streamline the attainment of business intelligence security and optimal utilization and worth of resources. As a result, cloud-based solutions and services are gaining traction worldwide among corporations, and asset-intensive organizations and enterprises can gain access to the latest available hardware, software, and service features by implementing cloud-based solutions.

Key Insights:

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  • North America market has captured revenue share of over 34% in 2022.
  • By Component, the solution segment has captured revenue share of 57% in 2022.
  • By Asset Type, the digital assets segment has captured revenue share of 25.8% in 2022.
  • By Application, the aviation segment has accounted revenue share of around 82% in 2022.

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Regional Snapshots

North America held over 34% revenue share and led the market in 2022, due to advanced infrastructure development and technology adoption, along with the presence of large IT companies and rapid digitalization in the region. Increasing adoption of connected secure technologies for the asset-centric application is also contributing to the regional market growth.

The Asia Pacific market is also expected to witness very significant growth, with growing adoption and further deployment of advanced technologies like cloud-based solutions, IoT, artificial intelligence (AI) and big data analytics. The region is home to emerging economies such as India and China and has many SMEs, which are driving the demand for cost-effective cloud-based solutions.

However, the COVID-19 pandemic has resulted in lockdowns and disrupted supply chains, affecting transportation and revenue generation. As a result, the demand for asset management solutions and services has been negatively affected in 2020.

Scope of this report

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Coverage Details
Market Size in 2030 USD 4,143.60 Billion
CAGR 35.06% from 2023 to 2032
North America Market Share 34% in 2022
Solution Segment Share 57% in 2022
Aviation Segment Share 82% in 2022
Key Players IBM Corporation, Oracle Corporation, Infor Inc., ABB Ltd., CGI Group Inc., SAP SE, Siemens AG, Schneider Electric SE, General Electric Company, Cisco Systems Inc., Hitachi Ltd., Rockwell Automation Inc., Wipro Limited, Honeywell International Inc., Johnson Controls International plc, and Others

Market Dynamics

Drivers

AI adoption in the asset management market is still in its infancy, but asset managers are increasingly recognizing its potential to enhance performance. Implementation of AI tools can provide more accurate investment recommendations, automate portfolio management, and improve customer service, leading to growth in the industry. The asset management industry is continually evolving with the introduction of new digital solutions and technologies, providing asset managers with innovative tools to better serve their clients. The use of data and analytics has become one of the most significant changes in the asset management market. By collecting data on a variety of factors, organizations can gain greater insight into their assets and optimize resource allocation. Automated monitoring and reporting are another area where technology is impacting the asset management market, enabling real-time tracking of asset performance, early issue identification, and proactive corrective actions to prevent costly downtime and repairs.

Asset management firms are moving towards digitization by providing paperless account opening and KYC/AML compliance solutions, which makes it more convenient for investors to conduct business with them. Firms are also leveraging digital channels for client communication and marketing. To illustrate, some companies are using social media platforms like LinkedIn to connect with potential customers, while others are producing interactive webinars and podcasts that offer useful insights.

Restraints

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The asset management market faces several challenges, including regulatory compliance, competition, changing investor preferences, and cybersecurity threats. Adhering to regulatory standards is time-consuming and costly for asset managers due to constantly changing requirements. Furthermore, the industry is facing increasing competition from new and innovative firms. Asset managers need to meet the specific needs of investors who are becoming more sophisticated and demanding. Finally, cybersecurity threats are a growing concern in the asset management industry as firms rely more on technology, leaving them vulnerable to cyber-attacks that could result in reputational damage, financial loss, and legal liability.

Opportunities

In the asset management market, various opportunities are emerging, including the integration of innovative technologies such as artificial intelligence, machine learning, and blockchain, which can automate processes, enhance decision-making, and deliver superior client services. This can lead to cost savings, augmented efficiency, and optimized performance. Additionally, the expansion of emerging markets offers a promising opportunity for asset managers. As these economies continue to progress, the demand for investment services is rising, and asset managers who can deliver the requisite knowledge and market access are poised to leverage this expansion. Moreover, the rising demand for sustainable investing offers a significant opportunity for asset managers who can incorporate environmental, social, and governance (ESG) factors into their investment decisions to cater to a growing number of investors who prioritize sustainable investments.

Challenges

The asset management market is becoming increasingly competitive, with new entrants and innovative products and services putting pressure on established players. This means that asset managers need to differentiate themselves and demonstrate the value of their services in order to retain clients and attract new ones. Clients’ expectations are also changing, with a growing demand for personalized services and sustainable investing options. This requires asset managers to be flexible and adaptable to meet clients’ evolving needs.

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Finally, asset managers need to stay up to date with technological advances in order to remain competitive. Failure to adopt new technologies can result in loss of efficiency and reduced ability to deliver high-quality services to clients. However, keeping up with technological advances can be a challenge in itself, as it requires investment and a willingness to embrace change.

Report highlights

  • The asset management market is witnessing two important trends. The first trend is the increasing use of data-driven approaches and risk analytics to manage risk. The recent technological advancements have enabled asset managers to gain access to more data and use more advanced analytical tools to manage risk more effectively. As a result, they are now using the data to create more advanced risk management models.
  • The second trend is the growing use of alternative investments to manage risk. Asset managers are increasingly using alternative investments such as private equity, hedge funds, and real estate to reduce portfolio risk and gain diversification benefits. This trend is expected to continue as investors look for ways to protect their portfolios from market volatility.
  • In the global asset management market, impact investing is gaining popularity among institutional and individual investors for several reasons. One of these is that it allows investors to achieve both financial returns and positive social or environmental impacts. This type of investment, which combines financial and social returns, is often referred to as “double bottom line” or “triple bottom line” investing.

Related Reports

  • Asset performance Management Market – The global asset performance management market size was estimated at USD 18.7 billion in the year 2021 and is expected to be worth around USD 49.2 billion by 2030, expanding growth at a CAGR of 11.35% from 2022 to 2030.
  • Enterprise Asset Management Market – The global enterprise asset management market size was valued at USD 3.9 billion in 2021 and will expand to around USD 10.6 billion by 2030 with a CAGR of 11.75% from 2022 to 2030.
  • Healthcare Asset Management Market – The global healthcare asset management market size is expected to reach around US$ 90.65 billion by 2030 with a CAGR of 23.2% from 2022 to 2030.

Recent developments

  • In August 2021, California-based Service aide, a global provider of intelligent IT and corporate service management solutions, acquired SunView Software GmbH, which is located in Frankfurt, Germany.

Maarket Segmentation

By Component

  • Solution
    • Real-Time Location System (RTLS)
    • Barcode
    • Mobile Computer
    • Labels
    • Global Positioning System (GPS)
    • Others
  • Service
    • Strategic Asset Management
    • Operational Asset Management
    • Tactical Asset Management

By Asset Type

  • Digital Assets
  • Returnable Transport Assets
  • In-transit Assets
  • Manufacturing Assets
  • Personnel/ Staff

By Application

  • Infrastructure Asset Management
    • Transportation
    • Energy Infrastructure
    • Water & Waste Infrastructure
    • Critical Infrastructure
    • Others
  • Enterprise Asset Management
  • Healthcare Asset Management
  • Aviation Asset Management
  • Others

By Geography

  • North America
  • Europe
  • Asia-Pacific
  • Latin America
  • Middle East and Africa

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Precedence Research is a worldwide market research and consulting organization. We give an unmatched nature of offering to our customers present all around the globe across industry verticals. Precedence Research has expertise in giving deep-dive market insight along with market intelligence to our customers spread crosswise over various undertakings. We are obliged to serve our different client base present over the enterprises of medicinal services, healthcare, innovation, next-gen technologies, semi-conductors, chemicals, automotive, and aerospace & defense, among different ventures present globally.

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Artificial Intelligence

China Mobile and Global Mobile Operators Explore Pathways to a More Intelligent Future at Global Partnership Executive Conference

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SHANGHAI, June 26, 2024 /PRNewswire/ — China Mobile held the Global Partnership Executive Conference under the Hand-in-Hand Program (hi-H Program) with the theme of “Hand-in-Hand, Leap Forward in Intelligent Future” on 25 June during MWC Shanghai 2024.

The conference was attended by 78 operators from over 30 countries and regions, with more than 300 executives and industrial experts. It featured keynote speeches, a fireside chat, roundtable discussions, and a launch ceremony, reflecting a new chapter of cooperation with international operator partners. Mr. Gao Tongqing, Executive Vice President of China Mobile, attended the conference and delivered a speech.
Mr. Gao Tongqing stated that China Mobile is actively promoting cooperation with overseas operators, building high-quality capabilities, and empowering global partners each other. 
Firstly, China Mobile is continuously building digital intelligent infrastructure. It has more than 1.9 million 5G base stations, with nearly 800 million 5G package users and serving more than 25 million industry customers and over 30,000 5G commercial users, while accelerating the development of innovative products.
Secondly, China Mobile promotes the integration of AI into the businesses and has developed the “Jiutian Zhongqing” foundation model, which has been deployed in more than 10,000 “AI+” projects across dozens of industries.
Thirdly, China Mobile is actively advancing digital intelligent capabilities for global partners, providing high quality products and empowering partners in areas such as 5G private networks and industry applications, to create shared success.
The keynote addresses delivered by China Mobile, Orange Wholesale International, Singtel, e& and TIM Brasil provided a powerful vision for the transformation required for the telecoms industries to thrive in the hyper-connected, technology-driven landscape.
Emmanuel Rochas, CEO of Orange Wholesale International, set the tone by emphasizing the critical importance of forging strategic partnerships and collaborative ecosystems. He asserted, “Strategic collaboration has become crucial for traditional carriers in today’s fast-paced business environment. By drawing on the expertise of partners from diverse industries, operators can stay ahead of new technologies, adapt to evolving markets and effectively serve their customers high expectation towards connectivity services – achieving significant business impact.”
Echoing this sentiment, Anna Yip, Deputy CEO of Singtel Singapore, underscored the pivotal role that the telecommunications sector plays in enabling the emergence of new strategic industries through the transformative power of 5G and AI. She stated, “The telecom industry plays a pivotal role in the emergence of new strategic industries based on transformative technologies like 5G and artificial intelligence. By forging impactful partnerships, we unlock new opportunities for businesses and help economies and communities tackle complex global challenges.”
“As customer expectations continue to rapidly evolve in our digital-first world, organizations must undergo profound transformations to stay competitive and deliver exceptional experiences,” said Rashid Ali Al Ali, Senior Vice President International Data of e&. “By embedding a true customer-centric mindset into our business strategy, operations, and culture, we are able to anticipate and meet the changing needs of our customers, driving sustainable growth for our company.”
Alberto Griselli, CEO of TIM Brasil, further explored how telecom operators can expand beyond connectivity-centric offerings to unlock new revenue streams and transform the future. “Developing innovative, value-added solutions that address evolving customer needs and pain points will position telcos as key enablers of the digital economy. Promoting digital transformation, we have an opportunity to contribute to building a more inclusive and diverse society and moving towards a more circular, low-carbon future,” he said.
Under the theme “Collaborate to Innovate, Shape the Intelligent Future” leading telecom operators from around the world gathered for an exclusive ceremony to celebrate their shared commitment to “Going Global”. This prestigious event featured distinguished guests from companies such as e&, Singtel, TIM Brasil, CTM, and SmarTone to strengthen existing partnership and forge new alliances that will shape the intelligent future of telecommunications. With a vision to chart the course for the future of international partnerships, through this event, China Mobile aims to infuse new energy into the global telecom ecosystem and showcase the power of collaboration in leaping forward in the intelligent future.
About China Mobile International Limited
China Mobile International Limited (CMI) is a wholly owned subsidiary of China Mobile. In order to provide high quality services to meet the growing demand in the international market, China Mobile established CMI in December 2010, headquartered in Hong Kong, China. CMI has expanded its footprint in 38 countries and regions. Leveraging the strong support by China Mobile, CMI is a trusted partner that provides comprehensive international information services and solutions to enterprises, carriers and mobile users. please visit www.cmi.chinamobile.com
About Hand-in-Hand Program
Established in 2015 by China Mobile, the Hand-in-Hand Program (“hi-H Program”) is a global partnership initiative which brings together various organizations from across the telecoms sector under the shared vision of providing seamless, borderless products and services worldwide. By gathering major players from different sectors together, hi-H combines strengths from across the industry to enhance each member’s ability to overcome challenges and adapt to industry changes.
About GTI
GTI, founded in 2011, has been dedicated to constructing a robust ecosystem of TD-LTE, speeding up the commercialization of TD-LTE and promoting the convergence of LTE TDD and FDD. As 4G evolves to 5G, GTI 2.0 was officially launched at the GTI Summit 2016 during the Mobile World Congress 2016 in Barcelona, aiming not only to further promote the evolution of TD-LTE and its global deployment, but also fostering a cross-industry innovative and a synergistic 5G ecosystem.
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Marketing Intelligence Platform Funnel Acquires Measurement Firm Adtriba

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The acquisition combines Funnel’s data collection and analysis acumen with Adtriba’s complex machine-learning measurement tools, optimized for the likes of Adidas and Sony
STOCKHOLM, Sweden and HAMBURG, Germany, June 26, 2024 /PRNewswire/ — Funnel (www.funnel.io), the marketing intelligence platform, has today announced its acquisition of the marketing measurement company Adtriba (www.adtriba.com). The move expands and enhances Funnel’s product offering, building on its core Data Hub and visualization to offer more advanced marketing analytics and Unified Marketing Measurement (UMM). The acquisition consolidates Funnel’s position as a global frontrunner in marketing intelligence with the company generating more than $50 million in Annual Recurring Revenue (ARR). 

At a time when it is becoming increasingly complicated to collect, analyze and measure marketing data from online and offline channels, this acquisition strengthens the sophistication of Funnel’s marketing insights. Funnel’s thousands of customers will be provided with a market-first integrated measurement technology, based on Adtriba’s capabilities, within one unified platform. 
Marketing is often a company’s biggest investment, and yet many elements of advertising campaign effectiveness remain intangible and unquantifiable to the marketers who design them. Working with the likes of Adidas, Sony, FlixBus and Samsung, Funnel and Adtriba’s combined solution accurately identifies the impact of budgetary spend and campaign ROI through an AI-powered model that triangulates marketing mix modelling (MMM), multi-touch attribution (MTA) and incrementality testing methodologies.
In 2021, the marketing attribution software market was valued at $3.1 billion, boosted by the expansion of online marketing channels and emerging technologies such as cloud computing and AI-powered solutions. Growing at a CAGR of 15.5% from 2022 to 2031, the market is projected to reach $12.9 billion by 2031. 
Fusing Data Intelligence and Machine Learning
Founded in Stockholm in 2014, Funnel has grown to over 300 employees and is trusted by globally recognized brands such as Home Depot and Uber, as well as agency clients across B2B and B2C like Publicis and Havas. Data gleaned from every marketing channel, from Google Ads to LinkedIn, Salesforce to Facebook Ads, is collated and presented across easy-to-use dashboards in Funnel’s Data Hub to support companies with the gathering, reporting and exporting of information. 
Hamburg-headquartered Adtriba has grown to 18 employees since launching in 2015 and has been used by multinational companies like FlixBus and Montblanc for data-driven marketing measurement and optimization across all channels.
In the coming months, Adtriba’s software will be fully incorporated into Funnel’s platform, creating an integrated marketing intelligence platform for measurement and ‘triangulation’ through blending MMM, MTA and incrementality testing methodologies. Combining these methodologies is the best way to measure marketing activities accurately and to determine what is working and why. With more businesses shifting from pure performance marketing to holistic full-funnel approaches, it is crucial to track marketing spending impact, particularly in the upper funnel. 
Measurement has been largely inaccessible to companies due to its perceived cost, complexity, and lack of real-time updates. Restrictions on third-party cookies, privacy and data collection on iOS and Android, and relying on last-click tracking have all made measuring more difficult. By integrating Adtriba’s proprietary, machine-learning-powered measurement technology into Funnel’s Marketing Intelligence platform, measurement becomes faster, more affordable, and more accurate, removing barriers to entry for marketers. This holistic marketing measurement, referred to as UMM, is at the forefront of data analytics and has previously been restricted to larger enterprises.
Partnership-turned-Full Acquisition
Owing to Funnel and Adtriba’s multi-year partnership that predates this deal, the acquisition is a natural step towards the delivery of a robust solution for existing and future customers, providing a strong and technologically sound value-add.
As before, the workforces at both companies will continue their activity in Sweden and Germany respectively. Adtriba’s employees will contribute to the Funnel product team and maintain their Hamburg office, and the marketing and sales teams will merge. Both companies’ existing customers will be shared after this acquisition without disrupting Funnel and Adtriba’s product offerings. 
As soon as this fall, Funnel’s Marketing Intelligence platform will be greatly enhanced by Adtriba’s solution, expanding the scope for what brands can do with their marketing budgets and offering solution partners a broader, more deeply integrated platform.
Fredrik Skantze, CEO of Funnel, says: “It is one thing to offer clients data and information about their marketing spend; it is quite another to give them marketing intelligence. Add to this Adtriba’s proprietary, world-class measurement technology and this is a very powerful tool for marketers. At Funnel, we are bold in wanting to be the definitive Marketing Intelligence Platform. Through this acquisition, we are well on the way to achieving that goal. If our previous partnership with Adtriba is any indication, I am more than confident this deal will be a success. We are pleased to be welcoming Adtriba’s team to Funnel and we cannot wait to begin the integration of our technologies.”
Adtriba CEO János Moldvay — who will become VP of Measurement at Funnel — adds, “As Adtriba continues to compete in the measurement technology arena, we are thrilled to announce this next step in our journey. Measurement platforms are dependent on accurate, and timely data that shows a complete picture, something that is out of reach for many businesses in our space. However, through our previous partnership with Funnel, we identified their Data Hub as a key differentiator for our measurement product. By integrating Adtriba into Funnel’s Marketing Intelligence platform, Adtriba will more effectively compete in the measurement market and access a large base of data-driven companies at the top of their game.”
About Funnel
Founded in Stockholm in 2014 by Fredrik Skantze (CEO) and Per Made (CMO), Funnel (www.funnel.io) is the Marketing Intelligence Platform that is trusted by globally recognized brands such as Adidas and Sony. Funnel’s unique Data Hub serves as the foundation for marketing reporting for thousands of organizations. With its cutting-edge platform, users can automatically collect, model, visualize, and analyze data from over 500 marketing platforms. The firm has grown to over 300 employees and generated over $50M in ARR in 2023, consistently featuring in the FT 1000 list of Europe’s fastest-growing companies.
About Adtriba 
Adtriba (www.adtriba.com) is a Hamburg-headquartered marketing measurement business founded by János Moldvay (CEO) in 2015. Adtriba measures the impact of budgetary spend and campaign ROI through a machine-learning-powered model that triangulates marketing mix modelling, multi-touch attribution and incrementality testing marketing methodologies. Used by the likes of FlixBus and Montblanc, the company has grown to 18 employees. 
Press Contact detailsBill Cropper, [email protected], +44 7305 592555Carl Ronander, [email protected] , +46768836266
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Wondershare Filmora Premieres Documentary ‘Gen Z in Action’ to celebrate VidCon 2024: A Deep Dive into the Minds Shaping Influencer Culture, Content Creation, and AI

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VANCOUVER, BC, June 26, 2024 /PRNewswire/ — In celebration of the 15th anniversary of VidCon and 19 years of YouTube, Wondershare Filmora, a leading video editing software company, is proud to announce the release of its new documentary, “Gen Z in Action.” This insightful film delves into the lives of Gen Z content creators, showcasing their dedication, innovation, and the unique challenges they face in today’s digital landscape. 

Filmed in Vancouver, BC, the documentary features in-depth interviews with over 10 Gen Z creators who have found fame and success in photography, music, and cosplay. Among the highlighted creators are Fearfiction, a dedicated cosplayer; Mathew, a relentless musician; and Maxwell, an emerging photographer. These individuals share their journeys, providing a candid look into their lives, work, and creative processes. 
“Gen Z in Action” also explores content creation, digital nativity, the effects of AI and influencer culture, and the future of the generation as they explore, define, and create a new era for society. 
Christy, VP of Wondershare, expressed her enthusiasm for the project, stating, “At Wondershare, we believe in the power of creativity and the importance of providing creative tools to the voices of the next generation. ‘Gen Z in Action’ not only highlights the incredible talents and innovations of Gen Z creators but also challenges the misconceptions often associated with them. We are excited to share their stories and inspire others to see the potential and drive that this generation brings to the AI era.” 
Alongside the documentary, Wondershare Filmora has published a white paper titled “Gen Z in Action.” Based on a survey of nearly 1,000 Gen Zers, this paper dives into their world, showcasing their dedication and innovation while debunking misconceptions about Gen Z. The documentary emphasizes their creativity, diligence, and passion to grow in their own way.  
About Filmora 
Filmora is designed with its user in mind, featuring smoother performance and an intuitive user interface. With advanced AI functions, over 220,000 creative assets, commercially available music, 3D LUTs, effects, and pre-set templates, you have everything you need to perfect your creative vision. Filmora is available on iOS, Android, macOS, and Windows. To try it for free, visit filmora.wondershare.com. Follow Wondershare Filmora on YouTube, TikTok, Instagram, and Facebook to learn more 
About Wondershare 
Wondershare is globally recognized as a software company committed to delivering innovative solutions for personal and professional use. As a leader in creativity and productivity products, Wondershare has received prestigious awards from organizations such as The Shorty Awards, G2, and GetApp. At Wondershare, the mission is to empower individuals to pursue their passions and build a more creative world. With over 100 million users across 150 countries, users can access a wide range of software solutions for video editing, PDF editing, data recovery, diagram and mind mapping, and more. 
Media Contact: [email protected] 
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