South America Enterprise Asset Management (EAM) Market Size, Share, Revenue, Key Players, Demand and Opportunities by 2023

The South American enterprise asset management market is growing at a CAGR of 10.9%, during 2018–2023 and will reach $802.1 million by 2023. The growth will be owing to the increasing focus of enterprises on reducing operating cost of assets as well as rising need for safeguarding the supply chain availability and visibility of businesses.

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On the basis of components, the South American enterprise asset management market has been categorized into software, services, and solutions, of which software generated the highest revenue of $263.5 million, in 2017. This is attributed to the increasing need for effective management of enterprise resources and their assets in South America. However, the solutions category is expected to record highest CAGR, during the forecast period, owing to the increasing demand for better return on investment (ROI) on assets, as solutions provide a proactive approach for asset management.

During the forecast period, the South America enterprise asset management market is expected to continue witnessing the fastest growth in Chile, owing to favorable government policies and investments in sustainable energy sources. The emergence of the internet of things (IoT) and the benefits associated with enterprise asset management solutions to improve ROI are resulting in the considerable growth of the market in Chile.

The Multilatinas, the companies that became multinational after outgrowing their home markets, have witnessed a rise in their asset turnover ratio. The Multilatinas hailing from Brazil, Chile, Argentina, Columbia, Peru, and Mexico have a higher asset turnover ratio than the competitors in industries like steel, auto parts, food, engineering and construction and petrochemicals.

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Some of the key players operating in the South America enterprise asset management market are Schneider Electric SE, Oracle Corporation, IBM Corporation, SAP SE, ABB Ltd., Industrial and Financial Systems (IFS) AB, MRI Software LLC, CGI Group Inc. and Infor Inc.

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