NEW YORK, November 17, 2021 / PRNewswire / – The Value of the Global Enterprise Asset Management Market in 2030 is likely to be $ 21,471.3 million, grows out $ 5,682.1 million in 2020 at a CAGR of 14.2% between 2020 and 2030. This will mainly be because EAM helps reduce O&M costs and increase ROA. It does this by tracking operations, employing advanced maintenance solutions for effective equipment control, reducing material procurement costs, and providing better insight into investment decisions.

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EAM includes solutions for asset lifecycle management, work order management, inventory management, work management, facility management, predictive maintenance as well as reporting and analysis that increase employee productivity, prevent unplanned system failures (and thereby minimize maintenance costs) and achieve a better return on investment (ROI). This is why, after initially not spending on such solutions during the COVID-19 pandemic, companies are now.

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Key Findings of Global Enterprise Asset Management Market Report

  • The demand for EAM integration and provisioning, consulting, training, and monitoring and upgrade services will increase sharply in the coming years.

  • To date, because of the wide range of assets they own and their better financial stability, large corporations have contributed the higher revenues to market participants in the enterprise asset management space.

  • In the future, the preference for cloud-based EAM solutions will increase faster with the increasing demand for anytime and anywhere data access, scalability and reduced IT costs.

  • The manufacturing sector is the largest user of EAM solutions because it includes a large number of factories, workers, warehouses, and machines.

  • The demand for solutions will grow in fastest Asia Pacific (APAC) in the coming years due to the rapid digitalization of regional industries and the development of IT infrastructure.

  • The market is fragmented as it is shaped by a large number of players.

The major companies in the Enterprise Asset Management market are Oracle Corporation, IBM Corporation, SAP SE, Schneider Electric SE, Industrial and Financial Services (IFS) AB, ABB Ltd., MRI Software LLC, Infor Inc., CGI Inc., Ramco Systems Limited, Bentley Systems Incorporated, and Rockwell Automation Inc. With a global presence, market competition is fierce, which is why they are merging and acquiring and bringing new EAM solutions to market.

The story goes on

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Since many of these companies are based in the United States, North America will dominate the enterprise asset management market this decade. Other important reasons for the high level of acceptance of these solutions in the region are the developed IT infrastructure, the extremely productive manufacturing industry and the strong focus of US and Canadian companies on optimal system utilization, predictive maintenance and effective supply chain management (SCM).

Market segmentation for enterprise asset management

Based on offer

Based on company

Based on the deployment

Based on vertical

  • Energy and utilities

  • Manufacturing

  • Healthcare and Life Sciences

  • Transport and logistics

  • Information technology (IT) and telecommunications

  • Government and defense

  • oil and gas

Geographical Analysis

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Prajneesh Kumar
P&S intelligence
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