Enterprise Asset Management Market Size, Share, Growth, Forecast 2032

Enterprise Asset Management Market Insights

Zion Market Research has published a report on the global Enterprise Asset Management Market, estimating its value at USD 28.73 Billion in 2023, with projections indicating that it will reach USD 86.30 Billion by 2032. The market is expected to expand at a compound annual growth rate (CAGR) of 13% over the forecast period 2024-2032. The report explores the factors fueling market growth, the hitches that could hamper this expansion, and the opportunities that may arise in the Enterprise Asset Management Market industry. Additionally, it offers a detailed analysis of how these elements will affect market demand dynamics and market performance throughout the forecast period.

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The market report is an indispensable guide on growth factors, challenges, restraints, and opportunities in the global market space. The enterprise asset management industry report covers the geographical market along with a comprehensive competitive landscape analysis. It also includes cash flow analysis, profit ratio analysis, market basket analysis, market attractiveness analysis, PESTEL analysis, SWOT analysis, Porter’s five force analysis, and value chain analysis. Additionally, the enterprise asset management market report explores the investor and stakeholder space to help companies make data-driven decisions.

Enterprise Asset Management Market: Overview

It is a process of managing the lifecycle of physical assets to increase their life/ use improve efficiency and quality, save cost and safeguard health & environment.

Enterprise asset management market is anticipated to witness rapid growth in the coming years owing to the growing needs of asset-intensive organizations. Enterprise asset management consists of the design, decommissioning, and operations of manufacturing units amongst others. Shifting to the EAM system helps organizations in reducing their maintenance cost. Additionally, the advent of EAM has helped in lowering labor costs, and production costs reduced equipment breakdowns, and have also enhanced maintenance productivity. In simpler terms, asset management solutions help enterprises and business owners with inventory maintenance, uptime along with strategic planning. Moreover, the management solution offers control and visibility over important assets which can affect business compliance, risk as well as performance.

Numerous drivers and opportunities are shaping the needs of this industry. The rising need for lifecycle performance of asset indicators is expected to flourish the demand for enterprise asset management market. Additionally, the companies rely more on physical infrastructure, which is capable to integrate processes and provide information on the asset lifecycle,  which is highly accountable for fueling the market. With the arrival of Big Data and cloud models integration with EAM is expected to open new business prospects in the near future. Additionally, regions like the Middle East and Africa, and the Asia Pacific will provide open growth avenues for the EAM market. However, Owing to the high cost of investment along with the lack of awareness about the uses and importance of EAM is anticipated to curtail market growth.

Enterprise Asset Management Market: Report Scope

On the basis of the solution under component the enterprise asset management market is divided into inventory management, asset lifecycle management, labor management, work order management, facility management, reporting and analytics, and predictive maintenance. The predictive maintenance solutions will show notable growth in the long run, owing to the rising demand for innovative technologies such as Machine Language and Artificial Intelligence for preventing and predicting errors in the system and helping in reducing maintenance costs.

Enterprise Asset Management Market: Competitive Space

Major players in enterprise asset management market include:

• Oracle
• IBM
• SAP
• IFS
• ABB
• Infor
• CGI
• Aptean
• Maintenance Connection
• IPS
• AssetWorks
• AVEVA among others.

Enterprise Asset Management Market: Regional Insights

Global enterprise asset management market is segmented on the basis of region into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is predicted to have growth in the enterprise asset management market owing to the presence of developed countries such as the US and Canada and these regions are considered to be the most advance in terms of adopting digital technology. Moreover, rising demand for EMA in the region to reduce equipment breakdowns and increase productivity. This is anticipated to propel market growth in the long run.

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The report segments the enterprise asset management market as follows:

Global Enterprise Asset Management Market: By Component Analysis

• Solutions
  • Inventory Management
  • Asset Lifecycle Management
  • Labor Management
  • Work Order Management
  • Facility Management
  • Reporting and Analytics
  • Predictive Maintenance
• Services
  • Professional Services
  • Managed Services

Global Enterprise Asset Management Market: By Deployment Analysis

• On-Premises
• Cloud

Global Enterprise Asset Management Market: By Organization Size Analysis

• Small and Medium-Sized Enterprises (SMEs)
• Large Enterprises

Global Enterprise Asset Management Market: By Vertical Analysis

• Energy and Utilities
• Manufacturing
• Transportation and Logistics
• Healthcare
• Government and Defense
• IT and Telecom
• Others

Global Enterprise Asset Management Market: By Region Analysis

• North America
  • The U.S.
• Europe
  • UK
  • France
  • Germany
• Asia Pacific
  • China
  • Japan
  • India
• Latin America
  • Brazil
• The Middle East and Africa