Press Release-Enterprise Asset Management Market to Reach Valuation of USD 5,374.1 Million by 2028 – Growing Usage of IoT Platforms Drives the Market
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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 in demand for cloud-based Enterprise Asset Management Market (EAM) solutions & services are expected to drive future market growth.
Key Highlights from Report:
Market Dynamics:
The market is undergoing a significant transition with supplementary and new technologies. The Industrial Internet of Things (IIoT) evolution has increased the demand for Enterprise Asset Management Market (EAM) systems. IoT helps in monitoring and procuring data from remote sites. When used with Enterprise Asset Management Market (EAM) systems, this data is helpful since it enables the inference of meaningful information. Many businesses worldwide implement EAM systems to increase company agility, streamline operations, and manage buildings.
Additionally, crucial company assets are optimized, and business intelligence is obtained for decision-making using cloud-based EAM solutions and services. Additionally, these solutions help businesses lower their overhead expenses. Better technical assistance and services, such as managed services with integrated debugging and performance monitoring tools, are provided by cloud-based EAM systems. In 2020, the AP team, a global provider of mission-critical enterprise software solutions, acquired DIN Solutions to provide enterprise management software for food and beverage organizations worldwide.
Asia Pacific held the largest market share in 2021. The large share of this region is attributed to the presence of major Enterprise Asset Management Market (EAM) players along with various emerging start-ups in the area, early adoption of the latest technology, and government investments in advanced technologies, the company of a highly developed IT infrastructure, and increasing focus on organizations towards meeting regulatory and compliance requirement.
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Enterprise Asset Management Market to Reach Valuation of USD 5,374.1 Million by 2028 – Growing Usage of IoT Platforms Drives the Market
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