EAM Market Analysis by Trends, Size, Share, Growth Opportunities, and Emerging Technologies

Business organizations are increasingly deploying enterprise asset management (EAM) solutions for the management of machines, buildings, information technology (IT) infrastructure, and other assets, due to their escalating focus on increasing the return on assets (ROA). Such solutions offer timely maintenance of assets, which aids in preventing the malfunction of machines, thereby reducing machine downtime. This further helps in extending the lifespan of assets, which assists enterprises in escaping the environmental and financial impacts of decommissioning the existing assets.

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Furthermore, the rising emphasis of business firms on enhancing their asset turnover ratio will also fuel the enterprise asset management market at a CAGR of 17.0% during 2020–2030. The market was valued at $5.5 billion in 2019, and it is projected to reach $25.9 billion by 2030. As asset turnover ratio refers to the financial ratio between sales and prices of assets. Enterprises across the world are focusing on augmenting their sales, which should be exponentially higher than the prices of their assets.

At present, business entities are showing a high preference for cloud-based EAM solutions to manage facilities and streamline work, as such solutions allow them to reduce their overhead costs, by curtailing their investments in IT infrastructure. Additionally, the adoption of cloud computing also allows online and offline mobility for asset management and decreases functional limitations. This advanced technology also increases business agility and provides enhanced technical support and services, by incorporating debugging and performance monitoring tools in the system.

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According to P&S Intelligence, North America dominated the enterprise asset management market in the preceding years, due to the surging need to meet the stringent regulations, mounting focus on integrating EAM solutions with advanced technologies, such as the internet of things (IoT), machine learning (ML), and computer vision, and increasing investments being made by private companies and public organizations for the better management of their equipment and assets in the region. Additionally, the presence of prominent EAM vendors and expansion of the construction and building information modeling (BIM) industries are also boosting the adoption of EAM solutions in the region.

Therefore, the burgeoning focus of enterprises on augmenting their ROA and asset management ratio will propel the adoption of EAM solutions by various sectors in the upcoming years.

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