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Enterprise Asset Management Market Size, Growth Insight, Share, Trends, Industry Key Players, Regional Forecast to 2026
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The Enterprise Asset Management Market is undergoing a significant transition with the advent of supplementary and new technologies. The evolution of Industrial Internet of Things (IIoT) has increased the demand for EAM systems.

According to a research report "Enterprise Asset Management Market by Application, Component, Organization Size, Deployment Model, Vertical (Energy and Utilities, Government and Public Sector, Manufacturing, Transportation and Logistics), and Region - Global Forecast to 2026" published by MarketsandMarkets, size is expected to grow at a Compound Annual Growth Rate (CAGR) of 8.7% during the forecast period, to reach USD 5.5 billion by 2026 from USD 3.3 billion in 2020. The EAM refers to the combination of software, systems, and services used by enterprises to manage the life cycle of physical assets and equipment for maximizing their lifetime; reducing costs; and improving quality and efficiency, health of assets, and environmental safety. It mainly offers functionalities, such as planning, organizing, and implementing maintenance activities carried out by employees of organizations or third–party entities. Some of the EAM applications are asset lifecycle management, inventory management, work order management, labor management, predictive maintenance, facility management, reporting and analytics, Computerized Maintenance Management System (CMMS), and Field Service Management (FSM).

Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=54576143

Report Objectives

·         To define, segment, and project the global market size of the EAM market

·         To understand the structure of the EAM market by identifying its various subsegments

·         To provide detailed information about the key factors (drivers, restraints, opportunities, and industry-specific challenges) influencing the growth of the market

·         To analyze the micro markets with respect to individual growth trends, prospects, and their contribution to the total market

The market is expected to be driven by the Growing need for gaining a 360-degree view of assets

Asset infrastructure is highly complex as assets are spread across locations, departments, and databases in many organizations. The complexity of asset infrastructure makes it difficult to achieve a complete view. A decade ago, it was next to impossible to remotely run a field service business. Currently, smartphones and tablets have made this a reality. With asset capabilities constantly changing and new technologies enhancing the power of data processing, enterprises need access to an EAM system with a 360–degree view of all assets–from design to installation and operations. Organizations are continuously seeking ways for improving asset management efficiency, reducing the risk of downtime, and gaining a competitive edge over their competitors. The demand for mobility-driven EAM solutions is increasing, helping organizations in making better business decisions, gaining better control over service operations, and delivering prompt services to customers.

Increased security capabilities and customized costing in cloud-based EAM solutions is driving the adoption of cloud-based deployment

With a cloud-based EAM solution, users can get more functionality and the ability to manage distributed IT environments. With the use of AI, AR, analytics and ML, data can be turned into actionable insights to improve operations. The cloud-based EAM software can be deployed easily, and users will be able to get real-time insights of assets and can facilitate remote monitoring with exceptional ease. Cloud-based EAM provides easy and quick upgradations, which offers better security against cyberattacks.

Request a Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=54576143

Asia Pacific (APAC) to grow at the highest CAGR during the forecast period

APAC is one of the fastest-growing regions in terms of technology adoption, and the demand for digitization is driven by various initiatives carried out by different governments and large enterprises in the region. Countries such as China, Japan, Australia, Singapore, India, and Indonesia are leading this technology adoption, which includes embracing new-age technologies such as AI, edge, IoT, analytics, and cloud. The rising adoption of cloud technologies and increasing amount of data lead to the complexity of managing workloads and applications manually, which would act as a major factor driving the adoption of EAM among enterprises in this region. The affordability and ease of deployment of cloud services would act as major factors for the adoption of cloud technologies among enterprises. Some of the major vendors operating in the region are IBM, Infor, IFS, and SAP.

Key Market Players

The EAM market is dominated by companies such as 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), and others. These vendors have a large customer base and strong geographic footprint along with organized distribution channels, which helps them to increase revenues.

About MarketsandMarkets

MarketsandMarkets provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:
Mr. Aashish Mehra
MarketsandMarkets INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441

 

 

 

 

 

 

 

 

 

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