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Enterprise Asset Management Market

Enterprise Asset Management Market

Enterprise Asset Management Market - Global Industry Assessment & Forecast

Number Of Pages # Pages:

144

Base Year:

2021

Date

Jul - 2022

Format:

PDF XLS PPT

Report Code:

VMR-1707

Segments Covered
  • By Component Solution, Services
  • By Application Asset Lifecycle Management, Inventory Management, Work Order Management, Labor Management, Predictive Maintenance, Facility Management
  • By Deployment Model On-Premises, Cloud
  • By Organization Size Small & Medium-Sized Enterprises (SMEs), Large Enterprises
  • By Verticals Energy & Utilities, Transportation & Logistics, Government & Public Sector, IT & Telecommunications, Manufacturing, Healthcare & Life Sciences, Education, Other Verticals
  • By Region North America, Europe, Asia Pacific, Latin America, Middle East & Africa
Snapshot
Forecast YearsForecast Years: 2022 - 2028
Historical YearsHistorical Years: 2016 - 2021
Revenue 2021Revenue 2021: USD 3,294.1 Million
Revenue 2028Revenue 2028: USD 5,374.1 Million
Revenue CAGRRevenue CAGR (2022 - 2028): 8.5%
Fastest Growing Region Fastest Growing Region (2022 - 2028) Asia Pacific
Largest Region Largest Region (2021): Asia Pacific
Customization Offered
  • Cross-segment Market Size and Analysis for Mentioned Segments
  • Additional Company Profiles (Upto 5 With No Cost)
  • Additional Countries (Apart From Mentioned Countries)
  • Country/Region-specific Report
  • Go To Market Strategy
  • Region Specific Market Dynamics
  • Region Level Market Share
  • Import Export Analysis
  • Production Analysis
  • Others Request Customization Speak To Analyst
Enterprise Asset Management Market Share

Market Synopsis:

The Global Enterprise Asset Management Market was valued at USD 3,294.1 Million in the year 2021 and is expected to reach a value of USD 5,374.1 Million by the year 2028. The Global Market is anticipated to grow to exhibit a Compound Annual Growth Rate (CAGR) of 8.5% over the forecast period.

Enterprise Asset Management (EAM) is the ideal lifecycle management solution that addresses an organization's enterprise asset management benefits (EAM). Furthermore, the subjects secured by EAM include tasks, structure, and disposal of production plants, among other things. As a result, businesses can reduce production and maintenance cost and maximizes an enterprise management system. However, apart from that, the rise of EAM has lowered production costs and labor costs, supported profitability, and reduced hardware breakdowns. For these advantages, the Global Enterprise Asset Management (EAM) market is expected to expand gradually during the forecast period. As a result, major players are investing significantly in efforts to perform better traditional asset management for their businesses. As a result, companies are looking for additional benefits from Enterprise Asset Management solutions.

Enterprise Asset Management Market Size, 2021 To 2028 (USD Million)

The latest industry trend includes Enterprise Asset Management solutions that include several other important factors, such as energy usage, lifecycle costs, maintenance histories, warranty catalogs, purchase orders, audit records, and others. In addition Enterprise Asset Management (EAM) helps in providing access to organizational asset information to every department and employee at every location.

Market Segmentation:

The Enterprise Asset Management Market is segmented on the basis of Component, Application, Deployment Model, Organization Size, Verticals, and Region. Based on the Component, the market is further sub-segmented into Solutions and Services. Furthermore, based on the segment Application, the market is sub-segmented as Asset Lifecycle Management, Inventory Management, Work Order Management, Labor Management, Predictive Maintenance, and Facility Management. Based on Deployment Model, the market is sub-segmented as On-Premises and Cloud. In addition, based on the Organization category, the market is further sub-categorized into Small & Medium-sized Enterprises (SMEs) and Large Enterprises. Finally, based on the component Verticals, the market is sub-components as Energy & Utilities, Transportation & Logistics, Government & Public Sector, IT & Telecommunications, Manufacturing, Healthcare & Life Sciences, Education, and Other Verticals.

Based on Component:

Based on the segment Components, the Solutions sub-segment is expected to account for the largest share of the Enterprise Asset Management Market. The growing demand for advanced Solutions for robust & cost-effective EAM systems, the increasing need for innovative technologies to help predict, report, & prevent system errors, and the growing inclination of companies to control costs with less maintenance is driving the large share of this sub-segment. On the other hand, the Services segment is expected to grow at the fastest Compound Annual Growth Rate (CAGR) during the forecast period, owing to the rising demand for managed and professional services in SMEs for smooth operations.

Based on Deployment:

Based on the segment Deployment, in the forecast period, the On-Premises sub-segment is expected to report the highest share. This contribution can be attributed to the increasing security concerns associated with Cloud-based deployment, the customization capabilities provided by On-Premises Deployment, and the growing need for improved organizational control and data security. On the other hand, the Cloud-Based sub-category is expected to grow at the fastest Compound Annual Growth Rate (CAGR) owing to rising digitization, adoption of Cloud-Based Enterprise Asset Management (EAM) solutions, and an increasing number of large enterprises using cloud platforms.

Asia Pacific is projected to Grow at the Fastest CAGR during the Forecast Period

The Asia Pacific is one of the fastest-growing regions, and demand for digitalization is fuelled by various government and large-scale company efforts in the region. China, Japan, Australia, Singapore, India, and Indonesia are at the forefront of technology adoption, embracing cutting-edge technologies like AI, edge, IoT, analytics, and cloud. The difficulty of manually managing workloads and applications has increased due to the increasing usage of cloud technologies and the growing volume of data, which will be a significant driver driving the adoption of Enterprise Asset Management (EAM) among organizations in this region. In addition, the cost-effectiveness and ease of Deployment of cloud services will be essential drivers in enterprise adoption of cloud technologies. IBM, Infor, IFS, and SAP are some of the top vendors in the region.

Competitive Landscape:

The key players in the Global Enterprise Asset Management Market include- IBM (US), SAP (Germany), Oracle (US), Infor (US), IFS (Sweden), ABB (Switzerland), Intelligent Process Solutions (Germany), Maintenance Connection (US), Aveva (UK), Aptean (US), Emanit (US), CGI (Canada), Rfgen Software (US), Assetworks (US), Ultimo Software Solutions (UK), UpKeep (US), Asset Panda (US), EZOfficeInventory (US), EZMaintain.com (US), Pazo (India), Asset Infinity (India), KloudGin (US), Fracttal (Chile), InnoMaint Software (India), Aladinme (UAE), Limble (US), Redlist (US), TrackX (US), Cheqroom (Belgium), The Asset Guardian (Canada), GoCodes (US), Fleetio (US), and others.

Segmentation of the Global Enterprise Asset Management Market:

Parameter Details
Segments Covered
  • Component (Solution, Services)
  • Application (Asset Lifecycle Management, Inventory Management, Work Order Management, Labor Management, Predictive Maintenance, Facility Management)
  • Deployment Model (On-Premises, Cloud)
  • Organization Size (Small & Medium-Sized Enterprises (SMEs), Large Enterprises)
  • Verticals (Energy & Utilities, Transportation & Logistics, Government & Public Sector, IT & Telecommunications, Manufacturing, Healthcare & Life Sciences, Education, Other Verticals)
  • Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa)
Regions & Countries Covered
  • North America - (U.S., Canada, Mexico)
  • Europe - (U.K., France, Germany, Italy, Spain, Rest Of Europe)
  • Asia Pacific - (China, Japan, India, South Korea, South East Asia, Rest Of Asia Pacific)
  • Latin America - (Brazil, Argentina, Rest Of Latin America)
  • Middle East & Africa - (GCC Countries, South Africa, Rest Of Middle East & Africa)
Companies Covered
  • IBM (US)
  • SAP (Germany)
  • Oracle (US)
  • Infor (US)
  • IFS (Sweden)
  • ABB (Switzerland)
  • Intelligent Process Solutions (Germany)
  • Maintenance Connection (US)
  • Aveva (UK)
  • Aptean (US)
  • Emanit (US)
  • CGI (Canada)
  • Rfgen Software (US)
  • Assetworks (US)
  • Ultimo Software Solutions (UK)
  • UpKeep (US)
  • Asset Panda (US)
  • EZOfficeInventory (US)
  • EZMaintain.com (US)
  • Pazo (India)
  • Asset Infinity (India)
  • KloudGin (US)
  • Fracttal (Chile)
  • InnoMaint Software (India)
  • Aladinme (UAE)
  • Limble (US)
  • Redlist (US)
  • TrackX (US)
  • Cheqroom (Belgium)
  • The Asset Guardian (Canada)
  • GoCodes (US)
  • Fleetio (US)
Report Coverage Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, technology landscape, patent analysis, market attractiveness analysis by segments and North America, company market share analysis, and COVID-19 impact analysis

Enterprise Asset Management Market to Reach Valuation of USD 5,374.1 Million by 2028 – Growing Usage of IoT Platforms Drives the Market
In terms of revenue, the Global Enterprise Asset Management Market is expected to reach USD 5,374.1 Million by 2028, growing at a Compound Annual Growth Rate (CAGR) of 8.5% from 2022 to 2028. The growing usage of Internet of Things (IoT) platforms, devices to manage enterprise assets, and a surge ...
FAQ
Frequently Asked Question
  • The global Enterprise Asset Management valued at USD 3,294.1 Million in 2020 and is expected to reach USD 5,374.1 Million in 2028 growing at a CAGR of 8.5%.

  • The prominent players in the market are IBM (US), SAP (Germany), Oracle (US), Infor (US), IFS (Sweden), ABB (Switzerland), Intelligent Process Solutions (Germany), Maintenance Connection (US), Aveva (UK), Aptean (US), Emanit (US), CGI (Canada), Rfgen Software (US), Assetworks (US), Ultimo Software Solutions (UK), UpKeep (US), Asset Panda (US), EZOfficeInventory (US), EZMaintain.com (US), Pazo (India), Asset Infinity (India), KloudGin (US), Fracttal (Chile), InnoMaint Software (India), Aladinme (UAE), Limble (US), Redlist (US), TrackX (US), Cheqroom (Belgium), The Asset Guardian (Canada), GoCodes (US), Fleetio (US).

  • The market is project to grow at a CAGR of 8.5% between 2021 and 2028.

  • The driving factors of the Enterprise Asset Management include

    • Increasing shift from legacy asset management methods to modern asset management by enterprises

  • Asia Pacific was the leading regional segment of the Enterprise Asset Management in 2020.