Global Enterprise Asset Management Market by Services, organization Size, Application, Element & by Region - Trends and Forecast to 2023

The optimal lifecycle management solution that manages the assets of a company is termed as Enterprise Asset Management (EAM). Furthermore, the subjects covered by EAM consists of operations, design, and decommissioning of manufacturing plant amongst others. Switching to an enterprise asset management system helps enterprises reduce their maintenance costs. Besides this, emergence of EAM has lowered the production costs, labor costs, boosted maintenance productivity and reduced equipment breakdowns. In simple terms, EAM solutions help business owners or enterprises with uptime, inventory maintenance as well as strategic planning.

Moreover, the solution offers maximum visibility and control over important assets that affect business performance, compliance as well as risk. There are numerous drivers, restraints and opportunities that are shaping the future of this industry. The growing need for increasing the lifecycle performance of assets indicates that the future of enterprise asset management market is bright.

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On the other hand, with companies getting more dependent on physical infrastructure, which is capable enough to integrate process as well as information throughout asset lifecycle is highly responsible for driving the market. Advent of cloud deployment model and Big Data integration with enterprise asset management are likely to create business opportunities. However, high cost and lack of awareness has hindered market growth to a greater extent. Regions such as Asia Pacific and Middle East and Africa would provide several opportunities in the enterprise asset management space owing to the rise in adoption rate.

The market is segmented in terms of software applications, end use industry, services offered, size of organization and geography. In terms of software applications, the market is segmented into asset maintenance, repair & overhaul (MRO), non-linear assets, linear assets, and field service management.

The market is also segmented based on the services such as managed service, training and support, and implementation service. The global enterprise asset management market is categorized based on size of organization into large enterprises, and small and medium enterprises (SMEs). The end use industries served by the enterprise asset management market include government and utilities, BFSI, healthcare, oil and gas, retail, transportation and others.

ENTERPRISE ASSET MANAGEMENT MARKET SEGMENTS:

Enterprise Asset Management Market By Services-

•Managed Service
•Training and Support Service
•Implementation Service

Enterprise Asset Management Market By Organization Size-

•Small and Medium Enterprises (SMEs)
•Large Enterprises

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Enterprise Asset Management Market By Software Application-

•Assets MRO
•Non Linear Assets
•Linear Assets
•Field Service Management

Enterprise Asset Management Market By End Use Industry-

•BFSI
•Healthcare
•Government and Utilities
•Oil and Gas
•Retail
•Transportation
•Others

Enterprise Asset Management Market By Geography-

•North America
•Europe
•Asia Pacific
•Latin America and Middle East and Africa (LAMEA)

Key Players-

•ABB
•Oracle
•SAP
•Schneider Electric
•IFS
•IBM
•Infor
•Assets Works
•Real Asset Management
•CGI Group

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