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Enterprise Asset Management Market Size, Demand, Growth Rate (CAGR of 10.4%), Trends, and Future Projections 2023-28
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Enterprise Asset Management Market Overview:
Enterprise asset management (EAM) refers to a combination of software, systems, and services that manage the physical assets of an organization throughout its life cycle. It comprises capital planning, performance, maintenance, procurement, installation, compliance, risk management, and asset disposal. It requires accurate tracking of asset information, such as location, condition, and maintenance history. It assists in maximizing the value of assets while minimizing the cost of ownership by optimizing their performance, availability, and utilization. It also increases operation efficiency, improves asset reliability and decision-making, and monitors real-time asset performance.
Explore the Full Report with Charts, Table of Contents, and List of Figures: https://www.imarcgroup.com/enterprise-asset-management-market
Enterprise Asset Management Market Trends:
The increasing adoption of EAM in small and medium-scale enterprises (SMEs) to enhance operational activities on account of the rising cloud-based solutions and remote working models represent one of the major factors impelling the market growth around the world. Moreover, the advent of mobile applications for EAM that enables field technicians and other individuals to access asset information and perform maintenance tasks from mobile devices, which helps improve efficiency and reduce downtime by allowing faster response times to asset issues, is favoring the growth of the market.
In addition, EAM finds application in the banking, financial services and insurance (BFSI) industry for streamlining banking operations. This, coupled with the growing utilization of online banking services, is influencing the market positively. Apart from this, the integration of the internet of things (IoT) and artificial intelligence (AI) in EAM to improve asset tracking, maintenance, and performance and collect real-time data is propelling the growth of the market. Furthermore, governments of different countries are undertaking measures to encourage EAM to improve public services, reduce costs, and optimize asset performance.
Key Market Segmentation:
Competitive Landscape with Key Players:
• Aptean Inc.
• Asset Infinity
• Asset Panda
• AVEVA Group plc (Schneider Electric SE)
• IFS AB
• International Business Machines Corporation
• IPS Intelligent Process Solutions GmbH
• SAP SE
• UpKeep Technologies Inc.
Component Insights:
• Solution
• Services
Deployment Insights:
• On-premises
• Cloud-based
Application Insights:
• Asset Lifecycle Management
• Inventory Management
• Work Order Management
• Labor Management
• Predictive Maintenance
• Others
Industry Vertical Insights:
• Manufacturing
• Transportation and Logistics
• Government
• IT and Telecommunications
• Energy and Utilities
• Healthcare
• Education
• Others
Breakup by Region:
• North America (United States, Canada)
• Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
• Europe (Germany, France, United Kingdom, Italy, Spain, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key Highlights of the Report:
• Market Performance
• Market Outlook
• Porter's Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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Who we are:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.
Our offerings include comprehensive market intelligence in the form of research reports, production cost reports, feasibility studies, and consulting services. Our team, which includes experienced researchers and analysts from various industries, is dedicated to providing high-quality data and insights to our clientele, ranging from small and medium businesses to Fortune 1000 corporations.
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