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In 2022, the Enterprise Asset Management Market Size was estimated to be worth USD 3.15 billion. From USD 4.1539 billion in 2023 to USD 8.45989 billion in 2030, the enterprise asset management market is anticipated to expand at a compound annual growth rate (CAGR) of 10.30%. The expansion of the Industrial Internet of Things (IoT) and the rise in the usage of lot stages and devices to manage projects have increased interest in EAM frameworks, which are the primary market drivers boosting market growth.
Businesses can track and manage their physical assets, such as machines, equipment, buildings, and vehicles, throughout their lifecycles, from acquisition to disposal, thanks to a set of procedures and tools known as enterprise asset management (EAM). EAM is primarily used to plan, optimize, carry out, and keep track of all maintenance tasks, along with the priorities, skills, materials, equipment, costs, and other details related to each activity.
The demand for bettering the lifetime performance of assets is increasing, which is driving the expansion of the worldwide EAM market. Furthermore, the market is heavily driven by reliance on physical infrastructure. Big data integration with EAM and the advent of cloud deployment models are anticipated to open up new commercial prospects. High prices and a lack of consumer awareness, however, limited market expansion. Due to a rise in adoption rates, Asia-Pacific and the Middle East and Africa would present numerous prospects for the advancement of the corporate asset management market.
A "mobile-first" approach is pervasive across businesses and industries due to the pervasiveness of mobility and mobile devices, such as smartphones, tablets, and phablets. The reach of mobility in EAM solutions is anticipated to rise as a result of the rising use of mobile devices. Alongside EAM and field service systems, handheld smart devices have improved in functionality thanks to GPS, GIS, RFID, and embedded cameras. EAM users' lives can be made simpler and more productive with the help of contemporary mobile devices and ruggedized versions of these gadgets. Work order instructions, equipment hierarchies, part numbers, inventory information, and similar information are readily available to maintenance staff. Due of this data duplication, EAM and CMMS software suppliers have developed mobile applications that are simple to link with the main system. Even remote workers may enter the data swiftly and safely thanks to the interface with the main system.
Cyberattacks are also dramatically rising along with the increasing digitization. Data security has thus become crucial for firms to maintain competitiveness in the global economy. Organizations that adopt cutting-edge digital technologies expose their data to threats. With the movement of data from the field to the cloud platform, there is a sharp increase in cybersecurity worries since nefarious actors can attack servers, networks, and communication channels. According to Ultimo Enterprise Asset Management Trend Report 2022, over 80% of firms manage their assets using software-based solutions, such as cloud-based or on-premises EAM software. The respondents do not appear to prioritize cybersecurity. The majority of people considered security elements to be relatively significant when choosing asset management software, although more than 30% ignored them. If staff members don't know what to watch out for, the growing degree of connectivity and integration between devices and solutions may lead to new vulnerabilities that are difficult to resolve.
Component, deployment model, enterprise size, application, industry vertical, and region are the segments used to analyze the size of the worldwide enterprise asset management market. The market is divided into solutions and services based on component. It is divided into on-premises and cloud deployment models. It is divided into major enterprises and small- and medium-sized enterprises according to the size of the enterprise. Work order management, predictive maintenance, asset lifecycle management, inventory management, labor management, facility management, and other categories are divided based on the application. The market is divided into the energy and utility, transportation and logistics, manufacturing, healthcare and life science, government and public sector, education, IT and telecommunications, and other sectors, according to industry vertical. The market is examined in terms of its impact on North America, Europe, Asia-Pacific, and LAMEA.
Since it aids in the efficient planning, design, and seamless delivery of complex asset projects into asset operations and maintenance, the asset lifecycle management sector holds the greatest enterprise asset management market share, according to application. By overseeing the asset planning and realization process from beginning to end, it also saves time, reduces errors, and controls progress and costs. However, during the projected period, the inventory management category is anticipated to develop at the fastest rate. This is explained by the fact that an EAM can offer insightful information about part utilization and prices. This facilitates better part procurement to lower inventory costs and makes it simpler to see real spending on specific parts. Additionally, an EAM provides features like automated inventory control, which simplifies the inventory process.
Report Coverage
Global Enterprise Asset Management research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Enterprise Asset Management report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Enterprise Asset Management competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Enterprise Asset Management market players and analyses their core competencies in each global market sub-segments.
Key Points Covered in the Report
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Enterprise Asset Management market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Enterprise Asset Management market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
SAP SE (Germany), Mintek Mobile Data Solutions (U.S.), Infor (U.S.), IFS AB (Sweden), Schneider Electric (France), IBM (U.S.), Ramco Systems (India), Oracle Corporation (U.S.), AssetWorks LLC (U.S.), ABB Group (Switzerland), Asset Infinity, Intelligent Process Solutions, Rfgen Software.
Primary Target Market
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. INFINITIVE DATA EXPERT has segmented the global Enterprise Asset Management market based on the below-mentioned segments:
Global Enterprise Asset Management Market, By Comonent
Solution
Services
Global Enterprise Asset Management market, By Application
Asset Lifecycle Management
Inventory Management
Work Order Managenent
Labor Management
Predictive Maintenance
Others
Global Enterprise Asset Management Market, By Industry Vertical
Energy and Utilities
Transportation and Logistics
Government
IT and Telecommunications
Manufacturing
Healthcare
Education
Others
Global Enterprise Asset Management market, Regional Analysis
Businesses can track and manage their physical assets, such as machines, equipment, buildings, and vehicles, throughout their lifecycles, from acquisition to disposal, thanks to a set of procedures and tools known as enterprise asset management (EAM). EAM is primarily used to plan, optimize, carry out, and keep track of all maintenance tasks, along with the priorities, skills, materials, equipment, costs, and other details related to each activity.
The demand for bettering the lifetime performance of assets is increasing, which is driving the expansion of the worldwide EAM market. Furthermore, the market is heavily driven by reliance on physical infrastructure. Big data integration with EAM and the advent of cloud deployment models are anticipated to open up new commercial prospects. High prices and a lack of consumer awareness, however, limited market expansion. Due to a rise in adoption rates, Asia-Pacific and the Middle East and Africa would present numerous prospects for the advancement of the corporate asset management market.
A "mobile-first" approach is pervasive across businesses and industries due to the pervasiveness of mobility and mobile devices, such as smartphones, tablets, and phablets. The reach of mobility in EAM solutions is anticipated to rise as a result of the rising use of mobile devices. Alongside EAM and field service systems, handheld smart devices have improved in functionality thanks to GPS, GIS, RFID, and embedded cameras. EAM users' lives can be made simpler and more productive with the help of contemporary mobile devices and ruggedized versions of these gadgets. Work order instructions, equipment hierarchies, part numbers, inventory information, and similar information are readily available to maintenance staff. Due of this data duplication, EAM and CMMS software suppliers have developed mobile applications that are simple to link with the main system. Even remote workers may enter the data swiftly and safely thanks to the interface with the main system.
Cyberattacks are also dramatically rising along with the increasing digitization. Data security has thus become crucial for firms to maintain competitiveness in the global economy. Organizations that adopt cutting-edge digital technologies expose their data to threats. With the movement of data from the field to the cloud platform, there is a sharp increase in cybersecurity worries since nefarious actors can attack servers, networks, and communication channels. According to Ultimo Enterprise Asset Management Trend Report 2022, over 80% of firms manage their assets using software-based solutions, such as cloud-based or on-premises EAM software. The respondents do not appear to prioritize cybersecurity. The majority of people considered security elements to be relatively significant when choosing asset management software, although more than 30% ignored them. If staff members don't know what to watch out for, the growing degree of connectivity and integration between devices and solutions may lead to new vulnerabilities that are difficult to resolve.
Component, deployment model, enterprise size, application, industry vertical, and region are the segments used to analyze the size of the worldwide enterprise asset management market. The market is divided into solutions and services based on component. It is divided into on-premises and cloud deployment models. It is divided into major enterprises and small- and medium-sized enterprises according to the size of the enterprise. Work order management, predictive maintenance, asset lifecycle management, inventory management, labor management, facility management, and other categories are divided based on the application. The market is divided into the energy and utility, transportation and logistics, manufacturing, healthcare and life science, government and public sector, education, IT and telecommunications, and other sectors, according to industry vertical. The market is examined in terms of its impact on North America, Europe, Asia-Pacific, and LAMEA.
Since it aids in the efficient planning, design, and seamless delivery of complex asset projects into asset operations and maintenance, the asset lifecycle management sector holds the greatest enterprise asset management market share, according to application. By overseeing the asset planning and realization process from beginning to end, it also saves time, reduces errors, and controls progress and costs. However, during the projected period, the inventory management category is anticipated to develop at the fastest rate. This is explained by the fact that an EAM can offer insightful information about part utilization and prices. This facilitates better part procurement to lower inventory costs and makes it simpler to see real spending on specific parts. Additionally, an EAM provides features like automated inventory control, which simplifies the inventory process.
Report Coverage
Global Enterprise Asset Management research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Enterprise Asset Management report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Enterprise Asset Management competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Enterprise Asset Management market players and analyses their core competencies in each global market sub-segments.
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| Study Period | 2017-2030 |
| Base Year | 2022 |
| Forecast Period | 2022-2030 |
| Historical Period | 2017-2021 |
| Unit | Value (USD Billion) |
| Key Companies Profiled | SAP SE (Germany), Mintek Mobile Data Solutions (U.S.), Infor (U.S.), IFS AB (Sweden), Schneider Electric (France), IBM (U.S.), Ramco Systems (India), Oracle Corporation (U.S.), AssetWorks LLC (U.S.), ABB Group (Switzerland), Asset Infinity, Intelligent Process Solutions, Rfgen Software. |
| Segments Covered | • By Product |
| Customization Scope | Free report customization (equivalent to up to 3 analyst working days) with purchase. Addition or alteration to country, regional & segment scope |
Key Points Covered in the Report
- Market Revenue of Enterprise Asset Management Market from 2021 to 2030.
- Market Forecast for Enterprise Asset Management Market from 2021 to 2030.
- Regional Market Share and Revenue from 2021 to 2030.
- Country Market share within region from 2021 to 2030.
- Key Type and Application Revenue and forecast.
- Company Market Share Analysis, Enterprise Asset Management competitive scenario, ranking, and detailed company
profiles. - Market driver, restraints, and detailed COVID-19 impact on Enterprise Asset Management
Market
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Enterprise Asset Management market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Enterprise Asset Management market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
SAP SE (Germany), Mintek Mobile Data Solutions (U.S.), Infor (U.S.), IFS AB (Sweden), Schneider Electric (France), IBM (U.S.), Ramco Systems (India), Oracle Corporation (U.S.), AssetWorks LLC (U.S.), ABB Group (Switzerland), Asset Infinity, Intelligent Process Solutions, Rfgen Software.
Primary Target Market
- Market Players of Enterprise Asset Management
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Third-party knowledge providers
- Value-Added Resellers (VARs)
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. INFINITIVE DATA EXPERT has segmented the global Enterprise Asset Management market based on the below-mentioned segments:
Global Enterprise Asset Management Market, By Comonent
Solution
Services
Global Enterprise Asset Management market, By Application
Asset Lifecycle Management
Inventory Management
Work Order Managenent
Labor Management
Predictive Maintenance
Others
Global Enterprise Asset Management Market, By Industry Vertical
Energy and Utilities
Transportation and Logistics
Government
IT and Telecommunications
Manufacturing
Healthcare
Education
Others
Global Enterprise Asset Management market, Regional Analysis
- Europe: Germany, Uk, France, Italy, Spain, Russia, Rest of Europe
- The Asia Pacific: China,Japan,India,South Korea,Australia,Rest of Asia Pacific
- South America: Brazil, Argentina, Rest of South America
- Middle East & Africa: UAE, Saudi Arabia, Qatar, South Africa, Rest of Middle East & Africa
About This Research
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