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Computerized Maintenance Management System Global Market Analysis, Trends, Growth, Research And Forecast 2033
Computerized Maintenance Management System Global Market Analysis
According to The Business Research Company's, The computerized maintenance management system market size has grown rapidly in recent years. It will grow from $1.23 billion in 2023 to $1.35 billion in 2024 at a compound annual growth rate (CAGR) of 10.3%. The growth in the historic period can be attributed to adoption of preventive maintenance strategies, asset management requirements, increased complexity of equipment, regulatory compliance demands, scalability requirements..
The computerized maintenance management system market size is expected to see rapid growth in the next few years. It will grow to $2.02 billion in 2028 at a compound annual growth rate (CAGR) of 10.6%. The growth in the forecast period can be attributed to focus on energy management, mobile cmms applications, big data analytics in maintenance, demand for integration with erp systems, regulatory emphasis on sustainability.. Major trends in the forecast period include cloud-based cmms solutions, integration with iot devices, technological advancements in maintenance, ai-based maintenance planning, user-friendly interface and experience..
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Market Drivers and Trends:
The growth of small enterprises is expected to propel the growth of the computerized maintenance management system market going forward. Small enterprises refer to small manufacturing entrepreneurs with a limited number of employees. Small enterprises required a computerized maintenance management system to expand their start-up companies quickly by reducing some of the risk and uncertainty associated with starting a business which is helpful for tracking maintenance, scheduling preventive maintenance, inventory management, asset tracking, and purchasing for the efficient operation of the business. For instance, in 2022, according to Small Business Administration (SBA), a US-based government agency, there are 33.2 million small businesses in the US, which account for 99.9 percent of all US businesses. Therefore, the growth of small enterprises is driving the growth of the computerized maintenance management system market.
Technological advancements are a key trend gaining popularity in the computerized maintenance management system market. Major companies operating in the computerized maintenance management system market are adopting new technologies to sustain their position in the market. For instance, in November 2021, Facilio, Inc, a US-based company operating in real-time facilities operations & maintenance (O&M) introduced a connected computerized maintenance management system (CMMS) to aid businesses in streamlining operations, cutting costs, and keeping up with changing client demands. The connected CCMS software platform combines all workflows for asset performance, client engagement, vendor management, workplace management, property maintenance, and IoT data to aid businesses in streamlining operations, cutting costs, and keeping up with changing client demands.
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Major Key Players of the Market:
Hippo CMMS; Limble CMMS; MicroMain Corporation; Fiix Inc.; International Business Machines Corporation; Fracttal S.p.A; eMaint Enterprises LLC; Upkeep Technologies Inc; Cryotos CMMS Software; Accruent; Infor Inc.; Mapcon Technologies Inc.; DPSI; Techgate Technologies LLC; Facilio; ManWinWin Software; MATE PCS LLC; Oracle Corporation; SAP SE; Microsoft Corporation; IFS; AVEVA Group; EAMbrace; Maintenance Connection; Siemens; Asset Panda LLC; Maintenance Care; ManagerPlus; Siveco Group; CWorks Inc.; AssetWorks LLC; MPulse Software Inc.; MVP Plant; Smartware Group; Maxpanda; TabWare; EZOfficeInventory
Computerized Maintenance Management System Market 2024 Key Insights:
• The computerized maintenance management system market will grow to $2.02 billion in 2028 at a compound annual growth rate (CAGR) of 10.6%.
• Rising Small Enterprises Propel Growth In Computerized Maintenance Management System Market
• Technological Advancements Propel Innovation In The Computerized Maintenance Management System Market
• North America was the dominating region in the computerized maintenance management system market in 2023
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