Revenue of South America Enterprise Asset Management Market by Industry Analysis, Drivers, Trends, Challenges and Forecast to 2023

The growth of the enterprise asset management (EAM) market in South America is being aided by increased asset utilization, need to decrease operating costs, and maintain the smooth functioning of the supply chain. Having generated revenue of $426.7 million 2017, the domain is expected to grow at a CAGR of 10.9% during the forecast period 2018–2023. EAM refers to the maintenance of a company’s physical assets. It helps in designing, constructing, commissioning, maintaining, and decommissioning the assets with the required tools, skills, information, and materials.

On the basis of component, the market can be divided into software, services, and solutions. During the historical period 2013–2017, the software category generated the highest revenue, whereas solutions category grew the fastest. The software available in the South American enterprise asset management (EAM) market is specially designed for linear or connected assets, non-linear or unconnected assets, field service management, and assets management, repair, and operations (MRO).

Explore Full Report Description At@ https://www.psmarketresearch.com/market-analysis/south-america-enterprise-asset-management-market

During the historical period, the revenue share of software for non-linear assets, which comprise office buildings and manufacturing plants, witnessed the sharpest rise. Cloud-based solutions generated higher revenue in the South American enterprise asset management (EAM) market compared to the on-premises variant, as these help companies bring down their operational costs by minimizing the installation of IT infrastructure. Further, cloud also integrates performance monitoring and debugging tools, in addition to increasing the business agility and making maintenance personnel easily mobilizable.

Coming to the immediate future, the overall market progress will be driven by the need to utilize the assets for longer than before, more effectively. This will be accomplished by increasing asset turnover, which is the ratio of sales to the cost of company assets. EAM helps companies by generating reports with respect to asset tracking and invoice charges, helping the higher management compare expected billing amounts and invoices. Another driving factor here is the desire to control operational costs. EAM increases the return on investment (ROI) by optimizing the manufacturing plant operations, thereby, reducing operational costs.

Request to Get the Sample Report@ https://www.psmarketresearch.com/market-analysis/south-america-enterprise-asset-management-market/report-sample

Yet another contributor to the growth of the enterprise asset management (EAM) market in South America will be the desire to keep the supply chain running smoothly. EAM software aids in segmenting, designing, planning, executing, and operating the supply chain. As a disrupted supply chain can result in heavy losses, which is possible considering the underdeveloped infrastructure and long distances products need to travel before reaching customers, EAM is being increasingly adopted by companies.

One of the restraints in the sector growth is the high cost of implementation, which cannot often be borne by small and medium enterprises (SMEs) that use simpler EAM aided by computers. However, as cloud-based EAM becomes more prevalent, SMEs will invest in the technology due to its cost-effectiveness. Presently, almost 90% of all industries in the continent are SMEs, giving South American enterprise asset management (EAM) market a vast growth potential in the near future.

We see that with the decreasing cost of EAM implementation, SMEs in South America are expected to adopt the technology, leading to the sector growth.

Make Enquiry Before Buying the Report@ https://www.psmarketresearch.com/send-enquiry?enquiry-url=south-america-enterprise-asset-management-market

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.

About P&S Intelligence
P&S Intelligence is a provider of market research and consulting services catering to the market information needs of burgeoning industries across the world. Providing the plinth of market intelligence, P&S as an enterprising research and consulting company, believes in providing thorough landscape analyses on the ever-changing market scenario, to empower companies to make informed decisions and base their business strategies with astuteness.

Contact:
P&S Intelligence
Toll-free: +1-888-778-7886 (USA/Canada)
International: +1-347-960-6455
Email: enquiry@psmarketresearch.com
Web: https://www.psmarketresearch.com

This release was published on openPR.