According to IMARC Group’s latest research report, titled “Enterprise Asset Management Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” presents a comprehensive analysis of the industry, covering enterprise asset management market size, share, trends, demand, and growth prospects. The report also provides competitor and regional analysis and showcases the contemporary advancements in the global market.
How big is the Enterprise Asset Management Market?
The global enterprise asset management market size reached US$ 5.15 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 9.74 Billion by 2028, exhibiting a growth rate (CAGR) of 10.4% during 2023-2028.
What is Enterprise Asset Management?
Enterprise asset management (EAM) is a of managing and optimizing an organization’s physical assets throughout its lifecycle. It involves the systematic tracking, maintenance, and utilization of assets to ensure they deliver maximum value and performance. It includes features such as asset tracking, work order management, preventive maintenance scheduling, inventory management, and reporting analytics. It encompasses a wide range of assets, including machinery, equipment, vehicles, facilities, and infrastructure. The primary goal of EAM is to improve operational efficiency, reduce costs, and enhance asset performance and reliability. It enables organizations to make informed decisions regarding asset acquisition, utilization, maintenance, and disposal. It also enables organizations to align their asset management strategies with overall business goals and achieve greater operational excellence.
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What are the Growth Prospects and Trends in the Enterprise Asset Management Market?
The increasing adoption of EAM in small and medium-scale enterprises (SMEs) to enhance operational activities is driving the global market. Moreover, the widespread adoption of wide technologies, such as the Internet of Things, artificial intelligence, and cloud computing, is providing a boost to the market as it enables real-time asset tracking, predictive maintenance, and data-driven decision-making. Besides, the increasing focus on data-driven insights and analytics is propelling the EAM market as it empowers them to make data-informed decisions, optimize asset lifecycles, and improve overall business outcomes. Additionally, the increasing focus on asset performance is acting as another growth-inducing factor as the solutions enable proactive maintenance strategies, including preventive and predictive maintenance, to minimize unplanned downtime and maximize asset uptime.
Who are the key Players Operating in the Industry?
- Aptean Inc.
- Asset Infinity
- Asset Panda
- AVEVA Group plc (Schneider Electric SE)
- IFS AB
- International Business Machines Corporation
- IPS Intelligent Process Solutions GmbH
- SAP SE
- UpKeep Technologies Inc.
What is included in Market Segmentation?
The report has segmented the market into the following categories:
Component Insights:
- Solution
- Services
Deployment Insights:
- On-premises
- Cloud-based
Application Insights:
- Asset Lifecycle Management
- Inventory Management
- Work Order Management
- Labor Management
- Predictive Maintenance
- Others
Industry Vertical Insights:
- Manufacturing
- Transportation and Logistics
- Government
- IT and Telecommunications
- Energy and Utilities
- Healthcare
- Education
- Others
Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key Highlights of the Report:
- Market Performance
- Market Outlook
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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