The Global Enterprise Asset Management market is expected to reach USD 5.5 billion by the year 2026. This market is primarily driven by the inclination of companies towards controlling cost with lesser maintenance and procurement expenses. They wish to have better-informed capital investment decisions and integrate procurements to maintenance jobs for effective control. Another factor that drives the market is when assets are maintained within the required timeframe, it helps in improving assessment of the current equipment condition as well as prevents malfunctions. Adding to it, improvement of plant and equipment maintenance can be achieved by effective preventive and breakdown maintenance, response capabilities and better repair, which substantially reduce downtime.
The fact that sometimes replacing the cost of an asset could be too high, it compels to extend the life of that asset without compromise on the performance which spurs the demand for global enterprise asset management. Even unexpected failures may lead to productions/operations to be out of control which arises the demand for enterprise asset management, so that, there are enough controls in place to anticipate, prevent and quick response to such incidents.
The global enterprise asset management market research report assesses market scenario over the period from 2015 to 2025. The report highlights the historic trends between 2015 and 2017 and the 2019 to 2025 market forecast. The report studies both at global and country-level the current status and future market prospects. The global enterprise asset management market is segmented by software applications, end-user industry, deployment, organization type, and geography.
The report also throws light on various aspects of the global enterprise asset management industry by assessing the market using value chain analysis. The report covers several qualitative aspects of the enterprise asset management industry in market drivers, market restraints and key industry trends. Furthermore, the report provides an in-depth assessment of the market competition with company profiles of global as well as local vendors.
The global enterprise asset management market has strong competition among the well-established and new emerging players. These market players targets to gain a competitive advantage over the other players by participating in partnerships, mergers, and acquisitions and expanding their businesses.
Based on the organization size, the global market has two categories which are SMEs and large enterprises. By the stats, SMEs is anticipated to register the faster growth during the forecast period as they rapidly deploy EAM software to enhance their operational efficiency and properly maintain their assets.
Based on deployment, the market is bifurcated into on-cloud and on-premises. On-cloud deployment is anticipated to register faster growth during the forecast period as cloud-based EAM allows users to access data from anywhere. Besides that, no upfront hardware cost related to cloud deployment encourages SMEs to adopt this solution.
On the geographical front, global enterprise asset management market is segmented into North America, Latin America, Eastern Europe, Western Europe, Middle East & Africa, and Asia-Pacific. North America is leading EAM market as most of the key market players are present in the U.S. Asia-Pacific is a fastest growing market as Asian countries like India and China has growing economy and numerous manufacturing companies are setting up in Asian countries are the key factors which drive the market.
The major players of global Enterprise Asset Management market includes ABB Ltd., CGI Group Inc., eMaint, IFS AB (Sweden), Infor, International Business Machines (IBM) Corporation (US), Oracle Corporation (US), Schneider Electric SA (France), Ramco Systems (India), SAP SE (Germany), Vesta Partners, LLC (US) and Fujitsu Ltd., AssetWorks LLC.
Segment Overview of Global Enterprise Asset Management Market
Software Application Overview, 2015-2025 (USD Million)
- Asset Maintenance
- Repair & Overhaul (MRO)
- Non-Linear Assets
- Linear Assets
- Electricity Transmission Lines
- Field Service Management
End-User Industry Overview, 2015-2025 (USD Million)
- Oil & Gas
- Aerospace & Defence
Deployment Overview, 2015-2025 (USD Million)
- On Cloud
Organization Type Overview, 2015-2025 (USD Million)
- Large Organization
Regional Overview, 2015-2025 (USD Million)
- North America
- Rest of Europe
- Asia Pacific
- Rest of APAC
- Central & South America
- Rest of Latin America
- Middle East and Africa
- Saudi Arabia
- South Africa
- Rest of MEA