Global Enterprise Asset Management (EAM) Market - Industry Trends and Forecast to 2028

Global Enterprise Asset Management (EAM) Market - Industry Trends and Forecast to 2028

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Global Enterprise Asset Management (EAM) Market was valued at USD 4.42 billion in 2021 and is expected to reach USD 8.83 billion by the year 2028, at a CAGR of 10.4%.

Enterprise asset management (EAM) systems emerged in the 1980s as an extension of the Computerized Maintenance Management Systems (CMMS). Enterprise asset management (EAM) systems were designed to substitute manual maintenance systems, and also to satisfy a need to establish robust asset management procedures as the numbers of assets utilized by enterprises grew. Enterprise asset management (EAM) is a critical business area for any large enterprise that depends on physical assets for production. Furthermore, Enterprise asset management (EAM) refers to a set of tools, software, and practices including Enterprise asset management (EAM) software, that allows organizations to operate productive facility management. Moreover, organizations can productively maintain, control, and analyze their physical assets and infrastructure during all phases of the asset lifecycle, including maintenance, acquisition, and disposal with the help of the comprehensive Enterprise asset management (EAM) process. This wide-range suite of capabilities provides asset managers full transparency into the present and historical state of assets so they can enhance asset quality and utilization, improve uptime, reduce operational costs, and ultimately increase revenue and Rate of Interest. Additionally, Enterprise asset management (EAM) includes work management, asset maintenance, planning and scheduling, supply chain management, and environmental, health and safety initiatives.

The Enterprise Asset Management (EAM) Market analysis summary is a comprehensive examination of the present developments in many areas that are driving this vertical trend. Market share, applications, market size, statistics, and sales are all summarized in this report. Furthermore, this research highlights a detailed competition analysis of market possibilities, particularly growth plans as claimed by industry specialists. The Enterprise Asset Management (EAM) market report examines the competitive environment in terms of markets, applications, and regions to assist the vendor in determining a match or alignment between their strengths and future growth potential.

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Key Industry Players in Enterprise Asset Management (EAM) Market:

·         ABB (Switzerland)

·         CGI Inc. (Canada)

·         Dude Solutions Inc. (US)

·         eMaint Enterprises LLC (US)

·         IBM Corporation (US)

·         IFS AB (Sweden)

·         Infor (US)

·         Oracle Corporation (US)

·         Ramco Systems Ltd. (Chennai)

·         SAP SE (Germany)

·         Schneider Electric SA (France)

·         IPS (Germany)

·         Accruent (US)

·         AVEVA Group plc (UK)

·         Aptean (US)

·         Professional Datasolutions Inc (US)

·         AssetWorks LLC (US)

·         Ultimo Software Solutions Inc (US)

·         EZOfficeInventory (US)

·         AssetInfinity (India)

·         InnoMaint Software (India)

·         Aladinme (UAE)

·         Limble (US)

·         Redlist (US)

·         TrackX (US)

·         Cheqroom (Belgium)

·         The Asset Guardian (Canada)

·         GoCodes (US)

·         Fleetio (US)

·         Upkeep Maintenance Management (US) and other major players.

Enterprise Asset Management (EAM) solutions help businesses in the transportation and logistics industry minimize the costs of managing and maintaining transportation assets, such as bridges, roads, tunnels, and rails. The geotechnical monitoring of transportation assets enables organizations to perform maintenance operations whenever and wherever required. Following best practices help in making strategic decisions for asset performance, enhancing asset lifecycle, and maintaining public transit infrastructure for transportation and logistics authorities. Enterprise Asset Management (EAM) solutions also provide "fleet management capabilities, cost optimization, and improved return on assets (RoA).

Segmentation Analysis Includes,

By Component:

·         Solutions

·         Services

By Deployment Type:

·         Cloud-Based

·         On-Premise

By Enterprise Size:

·         Large Enterprises

·         SMEs

By End Users:

·         Energy & Utilities

·         Chemicals

·         Petroleum & Mining

·         Manufacturing

·         Others

By Region:

·         North America (U.S., Canada, Mexico)

·         Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)

·         Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of APAC)

·         Middle East & Africa (Turkey, Saudi Arabia, Iran, UAE, Africa, Rest of MEA)

·         South America (Brazil, Argentina, Rest of SA)

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Key Benefits:

·         This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the enterprise asset management market forecast from 2022 to 2028 to identify the prevailing enterprise asset management market opportunities.

·         The market research is offered along with information related to key drivers, restraints, and opportunities.

·         The Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier–buyer network.

·         In-depth analysis of the enterprise asset management market segmentation assists to determine the prevailing market opportunities.

·         Major countries in each region are mapped according to their revenue contribution to the global market.

The COVID-19 outbreak has caused serious challenges to world’s economy and across various industry verticals. To cater to the workforce's needs operating remotely, organizations worldwide have accelerated the use of cloud-based solutions & services to create resilient and disaster-averse systems. This has encouraged the demand for public cloud services for industry-specific applications, including collaboration and other productivity and business continuity tools. This outbreak has also caused serious challenges in multiple industries, such as manufacturing, BFSI, automotive & transportation. A majority of Enterprise Asset Management (EAM) platforms include modules for facility management, reporting & analytics, and inventory control that help organizations avoid high network downtime costs.

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The Enterprise Asset Management (EAM) market is undergoing a substantial transformation with supplemental and new technologies. The Internet of Things (IoT), real-time analytics, augmented reality, Artificial Intelligence (AI), digital twins, and telematics are integrated with Enterprise Asset Management (EAM) deployments to assist with more profound insights into asset management. As a result, Enterprise Asset Management (EAM) is increasingly becoming an intelligent program capable of ingesting real-time data, interacting with devices, and providing sophisticated insights to engineers and operators.

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