Global Enterprise Asset Management Market

Global Enterprise Asset Management Market Size, Share, Growth Analysis, By Component(Solution, Services), By Application(Asset Lifecycle Management, Inventory Management), By Deployment(On-premises, Cloud), By Verticals(Energy, Utilities), By Organization size(Small, Medium-sized Enterprises (SMEs)) - Industry Forecast 2023-2030


Report ID: SQSG45F2011 | Region: Global | Published Date: April, 2023 | Pages: 165 | Tables: 155 | Figures: 78

Global Enterprise Asset Management Market Insights

Global Enterprise Asset Management Market size was valued at USD 3295.7 million in 2021 and is poised to grow from USD 3564.11 million in 2022 to USD 6695.29 million by 2030, growing at a CAGR of 8.2% in the forecast period (2023-2030).

The alteration from legacy asset management proceduresto modern asset management by enterprises along with the rising popularity of SaaS-based EAM solutions, growing need for a holistic view of assets, increased usage of IoT platforms and devices to manage enterprise assets, elimination of overheads caused due to adherence to compliance, the blend of technologies such as AI, IoT, and analytics, and increase in mobile usage among end-users is driving the global enterprise asset management market.

During the COVID-19 period, enterprises employed designated cloud-based EAM systems to manage assets since they enabled for remote execution of day-to-day operations. The demand for EAM surged in 2020 as it offers effective management of assets. Many enterprises across verticals have adopted the work-from-home model to safeguard employee well-being and maintain operational efficiency, surging the demand for cloud-based solutions. As more enterprises would turn to advance their IT infrastructure, the demand for EAM solutions will continue to grow.

US Enterprise Asset Management Market is poised to grow at a sustainable CAGR for the next forecast year.

Market snapshot - 2023-2030

Global Market Size

USD 3295.7 million

Largest Segment

Asset Lifecycle Management

Fastest Growth

Asset Lifecycle Management,

Growth Rate

8.2% CAGR

Global Enterprise Asset Management Market 2021-2028 ($ Bn)
Country Share for North America Region- 2021 (%)
Global Enterprise Asset Management Market Size By Application, 2021-2028 ($ Bn)
Global Enterprise Asset Management Market Size By Application, 2021-2028 (%)

To get more reports on the above market click here to Buy The Report

Global Enterprise Asset Management Market Segmental Analysis

Enterprise Asset Management Market segmentation is based on component, application, deployment, organization size, verticals and region. Based on component the Enterprise Asset Management Market is segmented as solutions and services. Based on the application the Enterprise Asset Management Market is segmented as asset lifecycle management, inventory management, work order management, labor management, predictive maintenance and facility management. Based on deployment the Enterprise Asset Management Market is segmented as On-premises, cloud. Based on Vertical the Enterprise Asset Management Market is segmented as energy and utilities, transportation and logistics, government and public sector, IT & telecommunications, manufacturing, healthcare and life sciences, education, and others. Based on Organization size the Enterprise Asset Management Market is segmented as Small and Medium-sized Enterprises (SMEs), Large Enterprises. On the basis of region, the market is segmented as North America, Europe, Asia-Pacific, South America, and MEA.

Asset lifecycle management is leading the enterprise asset management market in the application segment

Application Asset lifecycle management is estimated to dominate the market in the forecast period (2022-2028). Asset Lifecycle management involves the process to optimize profits generated by assets throughout their lifecycle. Few inter-management processes, such as comprehensive asset portfolio management, effective and efficient asset management practices, and rigorous project execution, help in delivering desired outcomes for the organization and thus is an integral part of asset life cycle management. Aiding organizational productivity by helping end-users to make significant decisions for IT-related needs and services. It also helps increase organizational productivity by helping organizations to make informed decisions on IT needs and services. Most of the EAM vendors offer the asset lifecycle management solution to efficiently-seamless asset lifecycle processes, reduce maintenance costs, and improve the quality of IT services.

On-Premise Deployment is preferred owing to data and information security concerns

On-Premise segment is expected to dominate the market in the forecast period. On-Premise is majorly favored by organizations that work for controlling the information security of customers and companies. This type of deployment is installed and hosted on organizations’ IT infrastructure and is managed by their internal IT professionals. The initial investment for the deployment of on-premises EAM solutions is high. However, it does not involve any incremental costs along the ownership period as in the case of cloud deployment. Security concerns associated with the private data of customers are an integral part for the adoption of on-premises deployments over cloud deployments.

Global Enterprise Asset Management Market By Application, 2021(%), 2021 (%)

To get detailed analysis on other segments, Request For Sample Report

Global Enterprise Asset Management Market Regional Insights

Asia Pacific Region is anticipated to register highest CAGR in the forecasted period (2022-2028). Fast-paced growth in adapting to technological progressions is attributed to the market growth. The rise in digitization is driven by various initiatives by different governmental organizations and large enterprises in the region. Countries such as China, Japan, Australia, Singapore, India, and Indonesia are leading this technology adoration along with skillfully embracing new-age technologies such as AI, edge, IoT, analytics, and cloud. A large amount of data available needs the effectiveness of management which is served by insightful ways leveraged from cloud technologies. The affordability and convenience of distribution over cloud services act as significant reasons for the adoption of cloud technologies among enterprises. Some of the major vendors operating in the region, Infor, IFS, and SAP have bought innovative methods to provide high-quality services to enterprises.

Global Enterprise Asset Management Market By Geography, 2021-2028, 2023-2030
  • Largest
  • Fastest

To know more about the market opportunities by region and country, click here to
Buy The Complete Report

Global Enterprise Asset Management Market Dynamics

Enterprise Asset Management Market Driver

  • Adoption of technologies such as the Industrial Internet of Things (IIoT) is driving the market

The global enterprise asset management market is witnessing a significant transcend with the advent of new technologies such as the Industrial Internet of Things (IIoT). There has been rapid market demand for EAM systems. IoT aids success in tracking and insightful procurement data from remote sites. Such gatherer's data proves to be crucial when integrated with EAM systems and becomes a valuable source of information inference.

  • Asset-concerted organizations are focusing on designated expenditures

Digitization across domains is leveraging opportunities for organizations to boost their relationships with customers. Ground-breaking technologies are potentially capable of radically transforming and improving their operational processes. High tech-induced competitiveness in the business environment, asset-concentrated businesses envision to succeed and withstand posed challenges and complexities by embracing them best–in–quality technologies, such as Augmented Reality, IoT, Artificial Intelligence, predictive modelling, digital twin, and telematics which is causing great opportunities for development and hence pave way for high market share in the forecasted period.

Enterprise Asset Management Market Restraint

  • Lack of Understanding of EAM systems

Enterprise Asset Management systems have progressed as an operational platform in recent years. However, despite several organizations’ successful implementation of EAM systems, there are a few organizations that have not completely devised EAM systems. There has been a considerable gap between customer expectations and the solutions delivered. For organizations with different functional domains, the implementation of EAM can be a difficult and complex task. To avoid complexities, asset managers should have a proper understanding of the work processes of assets or components that might get altered during the implementation process. An EAM system affects people, processes, and technologies. Therefore, it is important to have a proper understanding of all these entities while implementing the EAM system. The implementation of the EAM system requires cross-functional coordination as it impacts multiple systems and processes.

Speak to one of our ABIRAW analyst for your custom requirements before the purchase of this report

Global Enterprise Asset Management Market Competitive Landscape

The global enterprise asset management market is fairly concentrated, with big and medium-sized market participants accounting for a large portion of market revenue. Major players are implementing numerous tactics, including mergers and acquisitions, strategic agreements and contracts, and the development and testing of enterprise asset management softwares.

Enterprise Asset Management Market Top Players Company Profiles

  • IBM Corporation
  • SAP SE
  • Oracle Corporation
  • Infor
  • IFS AB
  • ABB Group
  • Schneider Electric SE
  • Siemens AG
  • GE Digital
  • AssetWorks LLC
  • AVEVA Group plc
  • Archibus, Inc.
  • Maintenance Connection, Inc.
  • eMaint Enterprises, LLC
  • UpKeep Maintenance Management
  • Accruent LLC
  • Dude Solutions, Inc.
  • Fingent Corporation
  • Fiix Inc.
  • MPulse Maintenance Software.

Enterprise Asset Management Market Recent Developments

  • In May 2022, IBM and Ernst & Young announced their association expansion. The initiative intends to aid the most crucial workforce challenges in the wake of the COVID-19 pandemic, including employee recruiting, retention, and upskilling and the need to transform HR systems technology at speed and scale. This association envisions to help organizations navigate this new talent landscape through digital innovation and greater resilience, EY and IBM have established a new Talent Center of Excellence (COE).
  • In March 2022, Aptean which is a global provider of mission-critical enterprise software solutions announced the launch of Aptean EAM, an all-new, cloud-based enterprise asset management (EAM) solution for manufacturing and other businesses that depend on complex equipment to support production.

Global Enterprise Asset Management Key Market Trends

  • The cloud-based EAM solutions are enticing enterprises to manage assets during prevalence of work from home. These systems allow enterprises to remotely execute accustomed operations. The demand for EAM surges in 2020 as it offers effective management of assets. Many enterprises across the ambit have adopted the work-from-home model to safeguard wellness and safety standards for employee health hence maintaining operational efficiency theory by raising the demand for cloud-based solutions. As more enterprises would turn to advance their IT infrastructure, the demand for EAM solutions will continue to grow.

Global Enterprise Asset Management Market SkyQuest Analysis

SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.

According to our analysis, current initiatives to build an enterprise asset management, as well as rising product launches of tech-driven products and services is paving for various opportunities for development. rising innovations attributed to data analytics and cloud-based systems are igniting the market growth.

The shift to the advanced era of asset management amid digital traction and the adoption of newer date-steered technologies is expected to boost the Enterprise Asset Management Market over the forecast period.

Report Metric Details
Market size value in 2021 USD 3295.7 million
Market size value in 2030 USD 3564.11 million
Growth Rate 8.2%
Base year 2021
Forecast period 2023-2030
Forecast Unit (Value) USD Million
Segments covered
  • Component
    • Solution, Services
  • Application
    • Asset Lifecycle Management, Inventory Management, Work Order Management, Labor Management, Predictive Maintenance, Facility Management
  • Deployment
    • On-premises, Cloud
  • Verticals
    • Energy, Utilities, Transportation, Logistics, Government, Public Sector, IT, Telecommunications, Manufacturing, Healthcare, Life Sciences, Education, Others.
  • Organization size
    • Small, Medium-sized Enterprises (SMEs), Large Enterprises
Regions covered North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)
Companies covered
  • IBM Corporation
  • SAP SE
  • Oracle Corporation
  • Infor
  • IFS AB
  • ABB Group
  • Schneider Electric SE
  • Siemens AG
  • GE Digital
  • AssetWorks LLC
  • AVEVA Group plc
  • Archibus, Inc.
  • Maintenance Connection, Inc.
  • eMaint Enterprises, LLC
  • UpKeep Maintenance Management
  • Accruent LLC
  • Dude Solutions, Inc.
  • Fingent Corporation
  • Fiix Inc.
  • MPulse Maintenance Software.
Customization scope

Free report customization with purchase. Customization includes:-

  • Segments by type, application, etc
  • Company profile
  • Market dynamics & outlook
  • Region

To get a free trial access to our platform which is a one stop solution for all your data requirements for quicker decision making. This platform allows you to compare markets, competitors who are prominent in the market, and mega trends that are influencing the dynamics in the market. Also, get access to detailed SkyQuest exclusive matrix.

Buy The Complete Report to read the analyzed strategies adopted by the top vendors either to retain or gain market share

Table Of Content

Executive Summary

Market overview

  • Exhibit: Executive Summary – Chart on Market Overview
  • Exhibit: Executive Summary – Data Table on Market Overview
  • Exhibit: Executive Summary – Chart on Global Enterprise Asset Management Market Characteristics
  • Exhibit: Executive Summary – Chart on Market by Geography
  • Exhibit: Executive Summary – Chart on Market Segmentation
  • Exhibit: Executive Summary – Chart on Incremental Growth
  • Exhibit: Executive Summary – Data Table on Incremental Growth
  • Exhibit: Executive Summary – Chart on Vendor Market Positioning

Parent Market Analysis

Market overview

Market size

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • SWOT Analysis

KEY MARKET INSIGHTS

  • Technology Analysis
    • (Exhibit: Data Table: Name of technology and details)
  • Pricing Analysis
    • (Exhibit: Data Table: Name of technology and pricing details)
  • Supply Chain Analysis
    • (Exhibit: Detailed Supply Chain Presentation)
  • Value Chain Analysis
    • (Exhibit: Detailed Value Chain Presentation)
  • Ecosystem Of the Market
    • Exhibit: Parent Market Ecosystem Market Analysis
    • Exhibit: Market Characteristics of Parent Market
  • IP Analysis
    • (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
  • Trade Analysis
    • (Exhibit: Data Table: Import and Export data details)
  • Startup Analysis
    • (Exhibit: Data Table: Emerging startups details)
  • Raw Material Analysis
    • (Exhibit: Data Table: Mapping of key raw materials)
  • Innovation Matrix
    • (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
  • Pipeline product Analysis
    • (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
  • Macroeconomic Indicators

COVID IMPACT

  • Introduction
  • Impact On Economy—scenario Assessment
    • Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
  • Revised Market Size
    • Exhibit: Data Table on Global Enterprise Asset Management Market size and forecast 2021-2027 ($ million)
  • Impact Of COVID On Key Segments
    • Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
  • COVID Strategies By Company
    • Exhibit: Analysis on key strategies adopted by companies

MARKET DYNAMICS & OUTLOOK

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • Regulatory Landscape
    • Exhibit: Data Table on regulation from different region
  • SWOT Analysis
  • Porters Analysis
    • Competitive rivalry
      • Exhibit: Competitive rivalry Impact of key factors, 2021
    • Threat of substitute products
      • Exhibit: Threat of Substitute Products Impact of key factors, 2021
    • Bargaining power of buyers
      • Exhibit: buyers bargaining power Impact of key factors, 2021
    • Threat of new entrants
      • Exhibit: Threat of new entrants Impact of key factors, 2021
    • Bargaining power of suppliers
      • Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
  • Skyquest special insights on future disruptions
    • Political Impact
    • Economic impact
    • Social Impact
    • Technical Impact
    • Environmental Impact
    • Legal Impact

Market Size by Region

  • Chart on Market share by geography 2021-2027 (%)
  • Data Table on Market share by geography 2021-2027(%)
  • North America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • USA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Canada
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Europe
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Germany
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Spain
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • France
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • UK
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Europe
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Asia Pacific
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • China
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • India
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Japan
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Korea
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Asia Pacific
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Latin America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Brazil
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of South America
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Middle East & Africa (MEA)
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • GCC Countries
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Africa
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of MEA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)

KEY COMPANY PROFILES

  • Competitive Landscape
    • Total number of companies covered
      • Exhibit: companies covered in the report, 2021
    • Top companies market positioning
      • Exhibit: company positioning matrix, 2021
    • Top companies market Share
      • Exhibit: Pie chart analysis on company market share, 2021(%)

Methodology

For the Global Enterprise Asset Management Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:

1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.

2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Enterprise Asset Management Market.

3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.

4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.

Analyst Support

Customization Options

With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Enterprise Asset Management Market:

Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.

Regional Analysis: Further analysis of the Global Enterprise Asset Management Market for additional countries.

Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.

Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.

Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.

Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.

Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.

Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.

$5,300
BUY NOW GET SAMPLE
Want to customize this report?

Our industry expert will work with you to provide you with customized data in a short amount of time.

SPEAK TO AN ANALYST

FAQ's

Global Enterprise Asset Management Market size was valued at USD 3295.7 million in 2021 and is poised to grow from USD 3564.11 million in 2022 to USD 6695.29 million by 2030, growing at a CAGR of 8.2% in the forecast period (2023-2030).

The global enterprise asset management market is fairly concentrated, with big and medium-sized market participants accounting for a large portion of market revenue. Major players are implementing numerous tactics, including mergers and acquisitions, strategic agreements and contracts, and the development and testing of enterprise asset management softwares. 'IBM Corporation', 'SAP SE', 'Oracle Corporation', 'Infor', 'IFS AB', 'ABB Group', 'Schneider Electric SE', 'Siemens AG', 'GE Digital', 'AssetWorks LLC', 'AVEVA Group plc', 'Archibus, Inc.', 'Maintenance Connection, Inc.', 'eMaint Enterprises, LLC', 'UpKeep Maintenance Management', 'Accruent LLC', 'Dude Solutions, Inc.', 'Fingent Corporation', 'Fiix Inc.', 'MPulse Maintenance Software.'

Adoption of technologies such as the Industrial Internet of Things (IIoT) is driving the market

The cloud-based EAM solutions are enticing enterprises to manage assets during prevalence of work from home. These systems allow enterprises to remotely execute accustomed operations. The demand for EAM surges in 2020 as it offers effective management of assets. Many enterprises across the ambit have adopted the work-from-home model to safeguard wellness and safety standards for employee health hence maintaining operational efficiency theory by raising the demand for cloud-based solutions. As more enterprises would turn to advance their IT infrastructure, the demand for EAM solutions will continue to grow.

Asia Pacific Region is anticipated to register highest CAGR in the forecasted period (2022-2028). Fast-paced growth in adapting to technological progressions is attributed to the market growth. The rise in digitization is driven by various initiatives by different governmental organizations and large enterprises in the region. Countries such as China, Japan, Australia, Singapore, India, and Indonesia are leading this technology adoration along with skillfully embracing new-age technologies such as AI, edge, IoT, analytics, and cloud. A large amount of data available needs the effectiveness of management which is served by insightful ways leveraged from cloud technologies. The affordability and convenience of distribution over cloud services act as significant reasons for the adoption of cloud technologies among enterprises. Some of the major vendors operating in the region, Infor, IFS, and SAP have bought innovative methods to provide high-quality services to enterprises.

Speak With Our Analyst

Want to customize this report? This report can be personalized according to your needs. Our analysts and industry experts will work directly with you to understand your requirements and provide you with customized data in a short amount of time. We offer $1000 worth of FREE customization at the time of purchase.

logo-images

Feedback From Our Clients

Global Enterprise Asset Management Market

Product ID: SQSG45F2011

$5,300
BUY NOW GET SAMPLE