Press release
Enterprise Asset Management Market Report 2023-2028: Global Industry Trends, Growth Rate (CAGR 10.4%), Share and Forecast
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Enterprise Asset Management Market Outlook:
Enterprise asset management (EAM) is a process that involves managing an organization's physical assets throughout its lifecycle, from acquisition to disposal. This includes everything from equipment, machinery, and vehicles to buildings, land, and other tangible assets. The primary goal of EAM is to optimize asset performance, reduce maintenance costs, and extend the life of assets by improving efficiency and reliability. It includes a variety of activities such as asset tracking, maintenance scheduling, work order management, inventory management, and performance analysis. EAM software often facilitates these activities and provides real-time insights into asset performance. Implementing an effective EAM system can result in significant cost savings, increased asset reliability, improved safety, and better compliance with regulations.
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Enterprise Asset Management Market Trends:
The global market is majorly driven by the increasing demand for efficient asset management solutions. In line with this, the rise of IoT and predictive maintenance technologies are significantly contributing to market growth. Furthermore, the growing need for regulatory compliance in various industries is positively influencing the market. Apart from this, the rapid adoption of cloud-based EAM solutions and the integration of EAM with other enterprise systems are bolstering the market. Moreover, the escalating need of industries worldwide to optimize their asset management processes and improve operational efficiency is propelling product demand. Besides, the rising need to improve the lifecycle performance of assets is favoring the market. Additionally, the increasing integration of technologies such as IoT, AI, and analytics and the continued use of IoT platforms and devices to maintain enterprise assets are providing a boost to the market.
Key Market Segmentation:
Competitive Landscape with Key Players:
• 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.
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 (2017-2022)
• Market Outlook (2023-2028)
• Porter's Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape
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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organisations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.
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