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Enterprise Asset Management Market Overview by recent opportunities, growth size, regional analysis by 2031 | Real Asset Management,CGI Group,Maintenance Connection,Mainsaver,eMaint,Honeywell
Enterprise Asset Management Market
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Enterprise Asset Management (EAM) is a comprehensive approach to managing physical assets throughout their entire lifecycles. The goal of EAM is to optimize performance and minimize costs by maximizing the value of assets and minimizing their downtime.
EAM systems track and manage data related to an asset throughout its lifecycle, from acquisition and installation to retirement and disposal. This data includes asset location, condition, maintenance history, and financial information. EAM systems help organizations make better decisions about when to repair, replace, or retire assets.
EAM can be used to manage any type of physical asset, including but not limited to: Buildings, Infrastructure, Manufacturing equipment, -Transportation equipment, IT assets etc.
Key Trends
There are several key trends in Enterprise Asset Management (EAM) technology. One is the move towards cloud-based solutions. This means that instead of having a server in-house that needs to be maintained, companies are using cloud-based solutions that are managed by a third party. This can save on IT costs and make it easier to scale the solution as needed.
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Another key trend is the use of mobile devices for asset management. This means that workers can use their smartphones or tablets to access asset information and perform tasks such as asset tracking and maintenance. This can improve worker productivity and make it easier to manage assets in the field.
Finally, there is a trend towards integrating EAM solutions with other business systems. For example, some companies are integrating their EAM solution with their enterprise resource planning (ERP) system. This can improve data accuracy and make it easier to track assets across the organization.
Key Drivers
There are a number of key drivers of the Enterprise Asset Management (EAM) market. Firstly, there is an increasing need for organizations to better manage their physical assets, in order to improve operational efficiency and reduce costs. Secondly, there is a growing awareness of the benefits of EAM, as organizations recognize the potential for improving asset utilization and reducing downtime. Thirdly, there is a trend towards the use of mobile and cloud-based EAM solutions, as these offer greater flexibility and scalability. Finally, there is an increasing focus on sustainability, as organizations look to reduce their environmental impact and improve their social and ethical performance.
Market Segments
By Services
Managed Service
Training and Support Service
Implementation Service
By Organization Size
Small and Medium Enterprises (SMEs)
Large Enterprises
By Software Application
Assets MRO
Non-Linear Assets
Linear Assets
Field Service Management
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By End-Use Industry
BFSI
Healthcare
Government and Utilities
Oil and Gas
Retail
Transportation
Others
Key Players
ABB
Oracle
SAP
Schneider Electric
IFS
IBM
Infor
AssetsWorks
Real Asset Management
CGI Group
Maintenance Connection
Mainsaver
eMaint
Honeywell
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