Enterprise Asset Management Market Size, Business Growth, Regional Trends and Key Companies by Infor, IBM, Oracle, IFS, ABB, Mintek, Mobile Data Solutions, Ramco Systems

Market Highlights:

Enterprises as they start expanding, they need a system to keep the record of their assets and help managing them. Enterprise Assets today, are connected in a complex ecosystem, accreting pulling in reams of data from the Internet of Things. Apart from managing and controlling assets, Enterprise Asset Management software using powerful analytics and cloud technologies, enables predictive maintenance and also helps businesses to make smart decisions based on cognitive analysis and insight. This is the predominant factor that dynamically drives the market of EAM.

According to a recent study report published by the Market Research Future, The global Enterprise Asset Management Market is booming and expected to gain prominence over the forecast period. The Market is forecasted to demonstrate a humongous growth by 2022, surpassing its previous growth records in terms of value with a whooping CAGR during the anticipated period (2016 – 2022). In 2016, the Global Enterprise Asset Management Software valued at USD ~4 billion which is expected to grow to USD ~ 8 billion by the end of forecast period with a double digit CAGR of ~11%. Which means the market will increase twofold.

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Key Players

SAP SE (Germany), Infor (U.S.), IBM (U.S.), Oracle Corporation (U.S.), Schneider Electric (France), AssetWorks LLC (U.S.), IFS AB (Sweden), ABB Group (Switzerland), Mintek Mobile Data Solutions (U.S.), and Ramco Systems (India) are some of the prominent players profiled in MRFR Analysis and are at the forefront of competition in the Global Enterprise Asset Management Market.

According to MRFR, The Global Enterprise Asset Management Software Market has been valued at US ~$4 billion which is expected to grow at US ~$8 billion by the end of forecast period with CAGR of ~11%.

The factors that drive the market growth of Enterprise Asset Management Software include growing worldwide economy, increasing number of start –ups (enterprises/businesses) and the fast growing businesses coupled with the need to effectively manage valuable assets of organizations. Additionally Government’s encouraging initiatives and funding allotted for new businesses, venture and product development (One such as Make in India) is fostering the market growth up to a large extent. Moreover promising features of Enterprise Asset Management Software which provide cost effective optimization of asset life cycle and offer a fully scalable, modular solution that grows with the needs of organizations provides impetus to market sales of EAM eventually, accelerating its market growth.

On the other hand, factors such as high cost associated with the implementation of EAM Software coupled with the technical incompetency of workforce that refrains restricts them from using the solutions optimally; are restricting the market growth. Adversely, evolvement of cloud deployment model and Big Data integration with enterprise asset management will fuel the market growth during the estimated period.

EAM Solutions can be installed and administered locally at company location or it can be installed in the Cloud and used as Software as a Service (SaaS).

Competitive Analysis:
The competitive edge of the global enterprise asset management market is being maintained by the introduction of new technological updates and strategic mergers and acquisitions among the players in the global EAM market.
In June 2018, Vienna House, an independent European hotel group, has collaborated with Infor (U.S), a leading enterprise asset management service provider, in order to pursue its digitization strategy by deploying Infor’s hospitality management solution (HMS) at its 35 properties. The addition of this product marks as third Infor solution to be implemented by the Vienna House.

Segments:

The global enterprise asset management market has been segmented on the basis of deployment, organization type, and application verticals. Based on deployment, the EAM market is segmented into on-cloud and on-premise. The on-cloud segment is anticipated to grow at the fastest rate due to increasing preference of cloud-based solutions on a global level.
Based on organization type, the global EAM market has been segmented into SMEs and large organizations. Among these two, the SMEs segment is anticipated to expand rapidly due to the increased adoption of enterprise asset management solutions by SMEs as the demand for skilled workforce and domain-specific technical personnel is increasing.
Based on application verticals, the global enterprise asset management market are segmented into government, manufacturing, healthcare, transportation, oil and gas, aerospace and defense, and others. Among these, the government application segment is anticipated to account for the largest market share in the global EAM market during the forecast period due to the wide range of application enterprise asset management in various government sectors.

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Regional Analysis

The global enterprise asset management market has been segmented into four major regions such as North America, Europe, Asia-Pacific (APAC) and the rest of the world. Among these regions, the North America region is anticipated to account for the largest market share in the global enterprise asset management market due to the rapid adoption of EAM solutions by the organizations and the strong economic conditions in this region. The Europe region stands second in terms of market shares after North America. Whereas, the Asia-Pacific region is anticipated to project the fastest growth in the global enterprise asset management market due to the improving economic conditions in the developing countries of this region.

Intended Audience

• Enterprise Asset Management Software Providers
• SMEs and Large Enterprise Asset Management Organization
• Training and Education Service Providers
• Enterprise Asset Management Vendors
• Construction Companies
• Cloud Service Providers
• Network Service Providers
• Support and Maintenance Service Providers

LIST OF TABLES

Table 1 Global Enterprise Asset Management Market, By Deployment
Table 2 Global Enterprise Asset Management Market, By Organization Type
Table 3 Global Enterprise Asset Management Market, By Application Vertical
Table 4 Global Enterprise Asset Management Market, By Regions

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