Enterprise Asset Management Market 2023 Size, Share, Growth, Trends, Type, Application, Analysis and Forecast by 2029

Data Bridge Market Research analyses that the enterprise asset management market was valued at USD 11.33 billion in 2021 and is expected to reach the value of USD 26.11 billion by 2029, at a CAGR of 11.00% during the forecast period of 2022-2029.

Enterprise Asset Management market research document provides market segmentation in the most-detailed pattern. A thorough analysis of patents and major market players has been carried out in this industry analysis report to provide a competitive landscape. High level market analysis of major segments has been performed in the report and opportunities are identified. The report not only deals with major industrial categories but also different associated segments such as services, technologies, & applications. What is more, the trustworthy Enterprise Asset Management market report provides market data in such a way that it also considers new product development from beginning to launch.

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Product definition

Enterprise Asset Management (EAM) is a set of systems, software, and services that can be used to manage and control operational assets as well as the operating system. It is the process of dealing with the lifecycle of physical assets and systems in order to extend their lifespan, improve quality and efficiency, reduce costs, and improve environmental safety. Asset maintenance, scheduling and planning, work management, and supply chain management are all examples of enterprise asset management.

Some of the major players operating global Enterprise Asset Management market are

General Electric (US)
IBM (US)
PTC (US)
Microsoft (US)
Siemens AG (Germany)
ANSYS, Inc (US)
SAP SE (Germany)
Oracle (US)
Robert Bosch GmbH (Germany)
Swim.ai, Inc. (US)
Atos SE (France)
ABB (Switzerland)
KELLTON TECH (India)
AVEVA Group plc (UK)
DXC Technology Company (US)
Altair Engineering, Inc (US)
Hexaware Technologies Limited (India)
Tata Consultancy Services Limited (India)
Infosys Limited (Bengaluru)
NTT DATA, Inc. (Japan)
TIBCO Software Inc. (US)

Key Market Segments Covered in Enterprise Asset Management Market Industry Research

The enterprise asset management market is segmented on the basis of component, organisation size, deployment mode, application and vertical. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Component

Solutions
Services

Deployment mode

On-premise
Cloud

Enterprise size

Small and medium sized enterprises
Large Enterprises

Application

Assets MRO
Non Linear Assets
Linear Assets
Field Service Management

Vertical

IT and Telecom
Healthcare and Life Sciences
Manufacturing
Transportation and Logistics
Government and Defence
Energy and Utilities
Others

Enterprise Asset Management Market Regional Analysis/Insights

The enterprise asset management market is analysed and market size insights and trends are provided by country, component, organisation size, deployment mode, application and vertical as referenced above.

The countries covered in the enterprise asset management market report are U.S., Canada, Mexico, Germany, France, U.K., Italy, Spain, Switzerland, Netherlands, Russia, Turkey, Belgium, Rest of Europe, Japan, China, South Korea, India, Australia & New Zealand, Singapore, Thailand, Malaysia, Indonesia, Philippines, Rest of Asia-Pacific, South Africa, Israel, U.A.E., Saudi Arabia, Egypt, Rest of Middle East and Africa, Brazil, Argentina and Rest of South America.

North America is expected to account for the largest share of the enterprise asset management systems market, followed by Asia-Pacific, Europe, Latin America, and the Middle East and Africa. The region's large share is primarily attributed to the presence of major EAM players as well as several emerging start-ups in the region, early adoption of latest technologies and government investments in advanced technologies, the presence of a highly developed IT infrastructure, the proliferation of cloud-based solutions, and organisations' increasing focus on meeting regulatory and compliance requirements.

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Drivers

Adoption of advanced technologies and rising demand for cloud-based EAM

The emergence of IoT devices in almost all industry verticals, the integration of drone and AI-based asset management, and rising demand for cloud-based EAM solutions are the primary factors driving the enterprise asset management systems market growth. Furthermore, the increasing adoption of advanced technologies for asset lifecycle extension, the emergence of disruptive digital technologies across industry verticals, and technological developments are all contributing to the market's growth. One of the major challenges for the EAM systems market is selecting effective and precise solutions for an organization's business needs.

Low running cost and better information on capital investment decision

Maintenance costs can be reduced by closely tracking operations, providing better information on capital investment decisions, and integrating maintenance solutions for effective equipment control. Furthermore, this helps to reduce operating costs by lowering material procurement costs, lowering maintenance costs, and increasing project return on investment (ROI). Businesses are lowering their operating costs by implementing the necessary software. With the increasing need for businesses to reduce their maintenance and procurement costs by a significant amount, the enterprise asset management market is expected to grow significantly.

Opportunity

Digitization in various industries opens up new opportunities for businesses to improve customer relationships. Many asset-intensive organisations are focusing their efforts on investing in cutting-edge technologies that will radically transform and improve their operational processes. Asset-intensive businesses succeed and fail in today's highly competitive business environment based on how they manage complexities in the face of increased competition. The next big thing in industrial services would be to accurately forecast the future of physical assets, so best-in-class organisations are embracing emerging technologies such as AR, IoT, AI, predictive maintenance, digital twin, and telematics. The impact of EAM solutions extends beyond simply increasing the bottom line.

Restraints

Asset-intensive organisations are finding it more difficult to select the right mix of solutions due to increased awareness of EAM utilities and the increased presence of major vendors and specialist solution providers. Despite the fact that some EAM service providers provide free demonstrations of their solutions, there are no specific criteria for selecting the best solution. Organizations prioritise data security because data loss can result in both tangible and intangible losses.

This enterprise asset management market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the enterprise asset management market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Recent Development

Innovapptive Inc. announced the release of mobile solutions for IBM Maximo EAM and Warehouse Management Suite in October 2021. Innovapptive provides IBM Maximo users with three primary products: mWorkOrder (a mobile plant maintenance app), mInventory (a mobile warehouse management app), and mAssetTag (a mobile fixed asset tracking solution).
In July 2021, Hexagon AB paid USD 2.7 billion in cash and equity for the EAM division of Infor Inc., a cloud technology company. The agreement also establishes ties between Hexagon and Koch Industries, which owns Infor, via a memorandum of understanding, which will result in increased use of Hexagon's solutions in Koch businesses and cross-selling opportunities between customers. Furthermore, this acquisition would assist customers in increasing operational efficiency and driving their digital transformation.

How does this Enterprise Asset Management Market Insights Help?

Global Enterprise Asset Management Market share (regional, product, application, end-user) both in terms of volume and revenue along with CAGR
The Key parameters which are driving this market and restraining its growth
What all challenges manufacturers will face as well as new opportunities and threats faced by them
To learn about the market strategies that are being adopted by your competitors and leading organizations
To Increase insightful analyses of the market and have a comprehensive understanding of the "Enterprise Asset Management  Market" and its commercial landscape

TABLE OF CONTENTS
Part 01: Executive Summary
Part 02: Scope of The Report
Part 03: Research Methodology
Part 04: Market Landscape
Part 05: Pipeline Analysis
Part 06: Market Sizing
Part 07: Five Forces Analysis
Part 08: Market Segmentation
Part 09: Customer Landscape
Part 10: Regional Landscape
Part 11: Decision Framework
Part 12: Drivers and Challenges
Part 13: Market Trends
Part 14: Vendor Landscape
Part 15: Vendor Analysis
Part 16: Appendix

For Detailed TOC | Follow @ https://www.databridgemarketresearch.com/toc/?dbmr=global-transparent-caching-market

Queries Resolved In This Report:

Which will be the specialties at which Enterprise Asset Management Market players profiling with intensive designs, financials, and furthermore, ongoing headways should set nearness?
Which will be the foreseen development rates for your own Enterprise Asset Management economy out and out and furthermore for each portion inside?
Which will be the Enterprise Asset Management application and sorts and estimate joined intently by makers?
Which will be the dangers which will attack growth?
The length of the global Enterprise Asset Management market opportunity?
How Enterprise Asset Management Market share advance vacillations their value from various assembling brands?

WHO SHOULD BUY THE GLOBAL ENTERPRISE ASSET MANAGEMENT REPORT?

People looking to enrich the decision-making capability by following points must buy the report:

Breakdown of market share of the top Enterprise Asset Management industry players
Evaluations of market share for the regional and country level sectors
Estimation of Enterprise Asset Management market for the forecast period of all the aforementioned classes, sub classes, and the domestic markets
Tactical recommendation for the newbies
Tactical recommendation in primary business industries based on the Enterprise Asset Management market forecast

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