Enterprise Asset Management Market Size, Share, Growth Analysis, By Offering(Solution, Services), Application(Asset Lifecycle Management, Inventory Management, Predictive Maintenance, Facility Management, Others), Deployment, Organization size, Vertical, and Region - Industry Forecast 2024-2031


Report ID: SQMIG45F2098 | Region: Global | Published Date: June, 2024
Pages: 165 |Tables: 149 |Figures: 78

Enterprise Asset Management Market Insights

Global Enterprise Asset Management Market size was valued at USD 3.92 Billion in 2022 and is poised to grow from USD 4.21 Billion in 2023 to USD 7.74 Billion by 2031, at a CAGR of 8.2% during the forecast period (2024-2031).

Enterprise Asset Management (EAM) solutions play a crucial role in optimizing and overseeing assets across their entire lifecycles, encompassing design, operation, and replacement, thereby enhancing business operations by ensuring better reliability, availability, and utilization of assets. The ease of gathering, centralizing, and analyzing both physical assets like infrastructure and human assets such as personnel expertise has fueled market growth. Automation of asset lifecycles through streamlined workflows enables enterprises to make informed decisions regarding capacity and vendor management.

The landscape of the Enterprise Asset Management (EAM) market is experiencing significant changes propelled by the integration of emerging and supplementary technologies. The incorporation of technologies such as the Internet of Things (IoT), real-time analytics, augmented reality, Artificial Intelligence (AI), digital twins, and telematics into EAM systems is revolutionizing asset management practices. This evolution is enabling EAM solutions to evolve into intelligent platforms capable of processing real-time data, engaging with connected devices, and delivering advanced insights to engineers and operators. Additionally, the market is witnessing maturation, with widespread adoption of cloud-based and micro-enterprise architectures in EAM and facility management software, paving the way for new growth opportunities.

The public sector entities including the government agencies, municipalities, and the public institutions use this software to manage and trace public infrastructure, predict the maintenance, and follow the regulatory compliance, and thus to save the cost and provide better services to their citizens. For example, in August 2022, Infor, a leading cloud software provider, upgraded their Infor Public Sector (IPS) asset and work management software, which is being used in Calgary, a city in Alberta, Canada. This upgrade gives mobility for business a great benefit as they can adopt features like GIS data integration, mobile applications, and operate better than before with enhanced performance.

An emerging trend involves the integration of Internet of Things (IoT) technology with EAM solutions, facilitating the provision of real-time data to both the EAM system and consumers. IoT connectivity empowers businesses to monitor and manage assets in real-time, offering potential enhancements in process control, risk identification, and asset replacement to meet evolving consumer demands.

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

Market Snapshot - 2024-2031

Global Market Size

USD 3.92 Billion

Largest Segment

On Premises

Fastest Growth

On Cloud

Growth Rate

8.2% CAGR

Enterprise Asset Management Market ($ Bn)
Country Share for North America Region (%)

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

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 market is segmented into solutions solution and services (professional services [planning & consultation, training & education, and support & maintenance] and managed services). Based on the application the market is segmented into asset lifecycle management, inventory management, work order management, labor management, predictive maintenance and facility management. Based on deployment the market is segmented as on-premises, cloud and hybrid. Based on organization size the market is segmented into small and medium-sized enterprises and large enterprises. Based on vertical the market is segmented into manufacturing (heavy machinery manufacturing, discrete manufacturing & process manufacturing), energy and utilities (power generation, renewable energy and oil- gas exploration & production), healthcare and life sciences (hospitals & clinics, pharmaceutical companies, medical device manufacturers & others), transportation and logistics (fleet management, warehouse management system, distribution equipment system & others), IT & telecommunications (telecom infrastructure, network operation & data centers),  government and public sector (infrastructure management, public works & municipal services), education (education facilities & research institutions) and others. Based on region, the market is segmented into North America, Europe, Asia-Pacific, South America, and MEA. 

Analysis By Offering 

Based on offering the market is segmented into solutions and services.  

The most important segment is the solution segment. Solutions are the core of the offering that technology companies provide, whether it is software products, platforms or systems designed to address a specific business problem or challenge. Solutions are a mix of features, functions and capabilities uniquely shaped to meet the customer's needs and different in any industry. Additionally, since the client is grousing to invest in finding a solution to his problem—a problem for which there has previously been successful pain—the money generated from the sale of the software solution is ample.  It led to the emergence and significant growth of the number of software solution vendors who provide multiple solutions for different market segments and verticals. Also, software solution providers are constantly innovating and differentiating themselves to continue being the leaders in their respective markets and gaining more and more customers as the business environment is evolving rapidly. 

Among the fastest-growing segments is services due to a lot of factors that drive market demand and customer preference. With organizations increasingly relying on software to realize and fine-tune complex solutions towards actual digital transformation and operations automation, the knowledge in the specialization of implementing and customizing the use of such configurations increases. Organizations need continuous assistance with rapid technological evolution to keep up with changing business needs. This is mandatory to have all software solutions up to date—that is, in proper order to ensure that new performance heights are reached. Since they are used to handling the responsibility of technology management and maintenance, organizations are moving more and more towards managed services and outsourcing so they can concentrate on their primary business.  

Analysis By Application 

Based on the application the market is segmented into asset lifecycle management, inventory management, work order management, labor management, predictive maintenance and facility management. 

Asset Lifecycle Management is emerging as the leading segment due to its strategic handling of managing assets over their entire lifecycle, from acquisition to disposal. In a fast-paced and competitive business landscape, organizations today need to maximize the value and performance of their assets over time. Asset lifecycle management enables the best decision-making at each stage when considering the whole asset life cycle. Furthermore, these solutions often contain predictive maintenance capabilities, given advanced analytics and IoT, which enable proactive asset management strategies that lead to competitive advantage and operational excellence. ALM is emerging as the leading segment because it is the most comprehensive approach for the goals of asset management in harmony with strategic goals — optimizes business performance. 

Predictive maintenance is the fastest-growing segment in the enterprise asset management landscape because of its transformatory impact on operational efficiencies and saving costs. Predictive maintenance through advanced technologies, such as IoT sensors, machine learning, and data analytics, provides an opportunity to constantly monitor the health and performance of assets in real time. It allows businesses to detect potential problems before they turn into costly disturbances, thus reducing downtime and extending the useful life of equipment. The most attractive proposition for companies that want to make the most of their existing asset management and maintenance practices is to lengthen the lifecycle of their assets, cut down the cost of maintenance, and reduce downtime. All these benefits accrue to make businesses more productive and, in the best-case scenario, maximize the benefits that assets deliver. 

Enterprise Asset Management Market By Component

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

Enterprise Asset Management Market Regional Insights

North America held a significant share in the year 2022, capturing over 33.30% of the overall revenue; this is due to its high investment in infrastructure development and massive adoption of technology. With some of the biggest IT companies, the drive for innovation, particularly in the United States and Canada, has seen North America lead in digitization initiatives. Following a spurt of investments in connected, smart, and secure technology adoption, designed for asset-centric application use, the region has been at the forefront of asset management market growth in North America. These factors together project North America as a prominent revenue pocket for the asset management market which is likely to grow further, aided by the expansion of technologies and a shift in focus by businesses toward advanced and successful asset management practices.  

Asia Pacific will be the fastest-growing regional market during the forecast time frame 2023-2030. The region is experiencing rapid economic growth, urbanization, and industrialization, which are driving considerable investment in the expansion and development of infrastructure across numerous industries. With more significant growth trajectory businesses in the region undertakes for modernization and digitization of operations that require advanced asset management solutions to ensure optimal utilization of the assets, operational efficiency, and regulatory compliance. Furthermore, the proliferation of smart technologies, IoT, and initiatives under Industry 4.0 also drives the need for the adoption of the said solution in Asia Pacific, especially in countries like China, India, Japan, and South Korea. In addition, the market growth in this region can be attributed to favorable government initiatives and regulatory frameworks that raise awareness of the importance of asset management.

Enterprise Asset Management Market By Region
  • Largest
  • Fastest

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

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. 

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. 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. 

Impact of Recession on the EAM Market 

  • The EAM market is highly connected with economic and geopolitical conditions; the actual convergence of a recession, the Russia-Ukraine conflict, inflation, and rising interest rates speaks volumes for this industry. During a recession, companies typically refocus on cost-cutting, and this requires a reevaluation of how to manage their assets. Geopolitical uncertainty has now been introduced by the Russia-Ukraine conflict; this increases the challenge of disrupted global supply chains and hinders enterprises' effective management and maintenance of assets. Inflation confronts them doubly: with growing operational costs and the problem of the possible erosion of purchasing power for EAM solutions. Rising interest rates further increase this pressure, as the cost of capital would rise for these businesses that are investing in EAM technologies. Therefore, the companies might cut back their output and manufacturing activities, due to rising raw-material prices, which could in part lead to a decline in exports and economic activity.  

Concerns over data security & confidentiality 

  • Since organizations are increasingly using a digital platform for their asset management, protecting information is a growing issue. The threat of data breach and cyberattack is growing exponentially, especially in an EAM system. High-profile cases like the SolarWinds cyberattack that occurred in 2020 targeted an array of industries worldwide, from power, utility companies, financial institutions, and many others, raising red flags on digital vulnerability. This, coupled with industries that deal with sensitive information, has always been wary of embracing complete solutions to asset management for fear of compromising their most exploited operational data. Unauthorized access, data leakage, or malicious activity had pushed enterprises back, especially in the health, financial, and defense sectors, from adopting EAM solutions.

Request Free Customization of this report to help us to meet your business objectives.

Enterprise Asset Management Market Competitive Landscape

The enterprise asset management market is quite competitive and has numerous key players that are working toward capturing a substantial market share. For example, key companies in the market differentiate themselves based on an expansive product portfolio, continuous technological innovations, strategic pricing strategies, and large-scale market outreach initiatives. Key drivers of the market typically include such factors as the mass implementation of enterprise asset management systems for increased productivity, optimized operations, better agility in business, and savings of resources. Also, the market is evolving significantly with the introduction of some advanced next-generation technologies, such as the Industrial Internet of Things (IIoT), which seeks to enable real-time asset monitoring along with predictive maintenance capabilities. Leading players identified in the enterprise asset management market include IBM Corporation, SAP SE, Oracle Corporation, Infor, IFS AB, and ABB Group. These establishments play a key role in offering cutting-edge solutions and gearing the market with strategic initiatives to drive the enterprise asset management market. In the pursuit of an ever-evolving enterprise asset management market that continuously reshapes itself, collaboration and partnerships among major market leaders play a key role in driving the next wave of innovation.

Enterprise Asset Management Market Top Players Company Profiles

  • IBM Corporation (United States) 
  • SAP SE (Germany) 
  • Oracle Corporation (United States) 
  • Infor (United States) 
  • IFS AB (Sweden) 
  • ABB Group (Switzerland) 
  • Schneider Electric SE (France) 
  • Siemens AG (Germany) 
  • GE Digital (United States) 
  • AssetWorks LLC (United States) 
  • AVEVA Group plc (United Kingdom) 
  • Archibus, Inc. (United States) 
  • Maintenance Connection, Inc. (United States) 
  • eMaint Enterprises, LLC (United States) 
  • UpKeep Maintenance Management (United States) 
  • Accruent LLC (United States) 
  • Dude Solutions, Inc. (United States) 
  • Fingent Corporation (United States) 
  • Fiix Inc. (Canada) 
  • MPulse Maintenance Software (United States)

Enterprise Asset Management Market Recent Developments

  • In April 2024, Arcwide and IFS Ultimo entered in a strategic partnership with the aim of raising the level of asset management for its customers. The cooperation will bring together both parties' complementary strengths and resources in innovating and providing improved asset management solutions. Through this cooperation, Arcwide and IFS Ultimo are committed to combining the skills necessary for offering great value to their customers while leading a new era of efficiency and effectiveness in asset management.

  • In February 2024, LLumin, leading in enterprise asset management and predictive maintenance CMMS+ software, partnered with Eschbach, a global software provider of the shiftconnector manufacturing enterprise platform. Together, they set out to bring advanced CMMS, which will integrate with shiftconnector, to change the face of managing plant processes in manufacturing. 

  • In March 2023, OpenGov unveiled its latest software suite, cartegraph asset management, boasting a suite of robust features and connectors integrated across its various modules. This release marks a significant milestone for OpenGov, as it introduces powerful new capabilities designed to enhance asset management processes for its users. The cartegraph asset management promises to streamline operations and empower organizations to make data-driven decisions to optimize their asset management strategies.

Enterprise Asset Management Key Market Trends

  • Shift towards work from home has driven the demand for cloud -based EAM Solutions: The increased demand for EAM solutions with mobile and remote access features is perfectly characterized by the rise in remote work arrangements and the prevalent adoption of mobile technologies. These features allow users to easily access, manage, and interact with asset data from anywhere, resulting in increased productivity, collaboration, and responsiveness. It not only underlines the importance of such software to the workforce of today in terms of flexibility and adaptability, but also shows how much of a frontier for innovation the EAM space it can be, where organizations look for avenues to optimize mobile asset management experiences with the use of emerging technologies and slick user interfaces. 
  • Industry-Tailored EAM Solutions: Optimizing Asset Management for Sector-Specific Needs: Industry-specific EAM solutions come devised with tools to cater to the sector's diversified requirements, whether manufacturing, energy, utilities, healthcare, or transportation, and offer other different tools and functions that address sectoral challenges with respect to equipment reliability, regulatory compliance, patient safety, and supply chain efficiency. It is through the provision for each of the individual needs of each of the industries that an EAM vendor facilitatesan organization in improving their best practices in asset management, while also boosting operational efficiency and thereby delivering better outcomes in its respective domain.

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, the enterprise asset management market is experiencing robust growth and transformation across various segments. With solutions and services comprising the component segment, cloud-based deployments gaining traction, and applications spanning asset lifecycle management, predictive maintenance, and facility management, the market caters to diverse industry verticals such as manufacturing, healthcare, and transportation. The demand for EAM solutions is further propelled by the increasing prevalence of remote work and mobile technologies, necessitating seamless mobile and remote access capabilities. Regionally, North America leads the market, followed closely by Asia Pacific and Europe, driven by technological advancements and digitalization initiatives. Competitive analysis reveals a landscape dominated by key players like IBM Corporation, SAP SE, and Oracle Corporation, leveraging product innovation and strategic partnerships to maintain their market position amidst intensifying competition. The shift to the advanced era of asset management amid digital traction and the adoption of new technologies is expected to boost the enterprise asset management market over the forecast period.

Report Metric Details
Market size value in 2022 USD 3.92 Billion
Market size value in 2031 USD 7.74 Billion
Growth Rate 8.2%
Base year 2023
Forecast period 2024-2031
Forecast Unit (Value) USD Billion
Segments covered
  • Offering
    • Solution, Services (Professional Services [Planning & Consultation, Training & Education, and Support & Maintenance], Managed Services)
  • Application
    • Asset Lifecycle Management, Inventory Management, Work Order Management, Labor Management, Predictive Maintenance, Facility Management, Other
  • Organization size
    • Small and Medium-sized Enterprises, Large Enterprises
  • Vertical
    • Manufacturing (Heavy machinery manufacturing, Discrete manufacturing & Process manufacturing), Energy and Utilities (Power Generation, Renewable Energy and Oil- Gas Exploration & Production), Healthcare and Life Sciences (Hospitals & Clinics, Pharmaceutical Companies, Medical Device Manufacturers & Others), Transportation and Logistics (Fleet Management, Warehouse Management System, Distribution Equipment System & others), IT & Telecommunications (Telecom infrastructure, Network operation & Data centers), Government and Public Sector (Infrastructure management, Public works & Municipal services), Education (Education facilities & Research institutions), Others.
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 (United States) 
  • SAP SE (Germany) 
  • Oracle Corporation (United States) 
  • Infor (United States) 
  • IFS AB (Sweden) 
  • ABB Group (Switzerland) 
  • Schneider Electric SE (France) 
  • Siemens AG (Germany) 
  • GE Digital (United States) 
  • AssetWorks LLC (United States) 
  • AVEVA Group plc (United Kingdom) 
  • Archibus, Inc. (United States) 
  • Maintenance Connection, Inc. (United States) 
  • eMaint Enterprises, LLC (United States) 
  • UpKeep Maintenance Management (United States) 
  • Accruent LLC (United States) 
  • Dude Solutions, Inc. (United States) 
  • Fingent Corporation (United States) 
  • Fiix Inc. (Canada) 
  • MPulse Maintenance Software (United States)
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 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 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 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 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 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 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 FREE 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.

REQUEST FREE CUSTOMIZATION

FAQs

Global Enterprise Asset Management Market size was valued at USD 3.92 Billion in 2022 and is poised to grow from USD 4.21 Billion in 2023 to USD 7.74 Billion by 2031, at a CAGR of 8.2% during the forecast period (2024-2031).

The enterprise asset management market is quite competitive and has numerous key players that are working toward capturing a substantial market share. For example, key companies in the market differentiate themselves based on an expansive product portfolio, continuous technological innovations, strategic pricing strategies, and large-scale market outreach initiatives. Key drivers of the market typically include such factors as the mass implementation of enterprise asset management systems for increased productivity, optimized operations, better agility in business, and savings of resources. Also, the market is evolving significantly with the introduction of some advanced next-generation technologies, such as the Industrial Internet of Things (IIoT), which seeks to enable real-time asset monitoring along with predictive maintenance capabilities. Leading players identified in the enterprise asset management market include IBM Corporation, SAP SE, Oracle Corporation, Infor, IFS AB, and ABB Group. These establishments play a key role in offering cutting-edge solutions and gearing the market with strategic initiatives to drive the enterprise asset management market. In the pursuit of an ever-evolving enterprise asset management market that continuously reshapes itself, collaboration and partnerships among major market leaders play a key role in driving the next wave of innovation. 'IBM Corporation (United States) ', 'SAP SE (Germany) ', 'Oracle Corporation (United States) ', 'Infor (United States) ', 'IFS AB (Sweden) ', 'ABB Group (Switzerland) ', 'Schneider Electric SE (France) ', 'Siemens AG (Germany) ', 'GE Digital (United States) ', 'AssetWorks LLC (United States) ', 'AVEVA Group plc (United Kingdom) ', 'Archibus, Inc. (United States) ', 'Maintenance Connection, Inc. (United States) ', 'eMaint Enterprises, LLC (United States) ', 'UpKeep Maintenance Management (United States) ', 'Accruent LLC (United States) ', 'Dude Solutions, Inc. (United States) ', 'Fingent Corporation (United States) ', 'Fiix Inc. (Canada) ', 'MPulse Maintenance Software (United States)'

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. 

Shift towards work from home has driven the demand for cloud -based EAM Solutions: The increased demand for EAM solutions with mobile and remote access features is perfectly characterized by the rise in remote work arrangements and the prevalent adoption of mobile technologies. These features allow users to easily access, manage, and interact with asset data from anywhere, resulting in increased productivity, collaboration, and responsiveness. It not only underlines the importance of such software to the workforce of today in terms of flexibility and adaptability, but also shows how much of a frontier for innovation the EAM space it can be, where organizations look for avenues to optimize mobile asset management experiences with the use of emerging technologies and slick user interfaces. 

North America held a significant share in the year 2022, capturing over 33.30% of the overall revenue; this is due to its high investment in infrastructure development and massive adoption of technology. With some of the biggest IT companies, the drive for innovation, particularly in the United States and Canada, has seen North America lead in digitization initiatives. Following a spurt of investments in connected, smart, and secure technology adoption, designed for asset-centric application use, the region has been at the forefront of asset management market growth in North America. These factors together project North America as a prominent revenue pocket for the asset management market which is likely to grow further, aided by the expansion of technologies and a shift in focus by businesses toward advanced and successful asset management practices.  

Request Free Customization

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

Report ID: SQMIG45F2098

$5,300
BUY NOW GET FREE SAMPLE