Enterprise Asset Management Market Size, projected to reach $9.9 billion, growing at a CAGR of 11.5% from 2031

As per the report published by Allied Market Research, the global enterprise asset management market generated $3.4 billion in 2021 and is expected to reach $9.9 billion by 2031, growing at a CAGR of 11.5% from 2022 to 2031.

Rise in demand for cloud-based EAM solutions among enterprises to optimize quality and utilization of assets throughout their lifecycle drives the global enterprise asset management market. However, high cost of software and lack of awareness in developing countries hinder the market growth. On the contrary, surge in acceptance of advanced technologies across industrial verticals and technological advancements would open new opportunities in the future.

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Covid-19 scenario:

• The Covid-19 pandemic positively affected the market. As major enterprises suffered huge losses during lockdown, they needed to focus on trimming costs, securing liquidity, and generating savings. This increased the demand for EAM software.

• Moreover, enterprise asset management proved to be important during the pandemic as companies need to optimize processes and increase efficiency of limited resource at their disposal.

Based on components, the report is divided into service and solution. The solution segment held the largest share in 2020, accounting for more than two-thirds of the market. However, the services segment is projected to register the highest CAGR of 13.8% during the forecast period.

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Based on the deployment model, the on-premise segment held the largest share in 2020, contributing to nearly three-fifths of the market. However, the cloud segment is estimated to manifest the highest CAGR of 14.3% from 2022 to 2031.

The global enterprise asset management industry includes an in-depth analysis of the prime market players such as EAM market are ABB Ltd., AssetsWorks, LLC, CGI Group Inc., IFS, International Business Machine Corporation, Infor, Oracle Corporation, SAP SE, SSG Insights, and UpKeep Technologies, Inc.

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Key Stakeholder Advantages:

• This report employs a quantitative approach to analyze market segments, current trends, estimations, and dynamics within the enterprise asset management market from 2022 to 2031, identifying prevalent opportunities.

• Comprehensive market research provides insights into key drivers, restraints, and opportunities.

• Utilizing Porter's five forces analysis, the report evaluates buyer and supplier influence, aiding stakeholders in making profit-centric decisions and fortifying their supplier-buyer networks.

• In-depth examination of enterprise asset management market segmentation assists in identifying existing market opportunities.

• Revenue contributions of major countries in each region are mapped, offering clarity on their impact on the global market.

• Market player positioning enables benchmarking and a clear understanding of the current market player landscape.

• The report encompasses analysis of regional and global enterprise asset management market trends, key players, market segments, application areas, and growth strategies.

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