Future of the Enterprise Asset Management Market: Strategic Analysis and Forecast to 2034

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What Will the Enterprise Asset Management Industry Market Size Be by 2025?
In recent times, there's been a substantial growth in the size of the enterprise asset management market. The valuation is expected to escalate from $6.71 billion in 2024 to a larger figure of $7.33 billion in 2025, exhibiting a compound annual growth rate (CAGR) of 9.2%. Factors contributing to this historic growth span from regulatory compliance, decaying infrastructure, cost optimization practices, preventive maintenance to integration with ERP systems.

What's the Long-Term Growth Forecast for the Enterprise Asset Management Market Size Through 2029?
The coming years are likely to witness rapid expansion in the enterprise asset management market size. It is forecasted to balloon to a whopping $12.07 billion by 2029, with a compound annual growth rate (CAGR) of 13.3%. The projected growth in this period can be credited to factors like mobile exam solutions, emphasis on sustainability, measures for cybersecurity, and exams catered for industry-specific needs. Noteworthy trends during the prediction period encompass digital twin technology, technological progression, IoT implementation for condition surveillance, and cloud-based exam solutions.

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What Are the Key Growth Drivers Fueling the Enterprise Asset Management Market Expansion?
The growth of the market is being propelled by the increasing demand for SaaS-based EAM solutions. Vendors utilize cloud-based software services in delivering applications through a subscription-based model in the form of SaaS-based EAM services. These solutions, which offer capabilities such as dashboards, mobile apps, asset tracking, performance management, forecasting, and regulatory compliance, have become integral in the world of technology. Customers are showing a preference for SaaS-based solutions over traditional on-premise ones, due to advantages like lower costs, shorter time to benefit, scalability, and integration, among others. For instance, a 2022 DevSquad study illustrates that 73% of firms are migrating all their systems to SaaS, with companies intending to increase their expenditure by 44% compared to the previous year.

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What Are the Key Trends Driving Enterprise Asset Management Market Growth?
The evolution of technology is influencing the enterprise asset management market. Leading firms in this market are currently emphasizing their expansion efforts in innovating new technologies. A case in point is Aptean, which in March 2022, introduced cloud-based EAM solutions, which incorporates a computerized maintenance management system specifically for manufacturing patrons. This new product will assist small to medium-sized manufacturers in fulfilling their asset management needs and demands.

How Is the Enterprise Asset Management Market Segmented?
The enterprise asset management market covered in this report is segmented -

1) By Development: On-Premise, Cloud
2) By Application: Asset Lifecycle Management, Inventory Management, Work Order Management, Labor Management, Other Applications
3) By Vertical: Energy And Utilities, Transportation And Logistics, Government And Public Sector, IT And Telecommunications, Manufacturing, Healthcare And Life Sciences, Education, Other Verticals

Subsegments:
1) By On-Premise: Traditional On-Premise Solutions, Hybrid On-Premise Or Cloud Solutions
2) By Cloud: Public Cloud Solutions, Private Cloud Solutions, Hybrid Cloud Solutions

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Which Companies Are Leading the Charge in Enterprise Asset Management Market Innovation?
Major companies operating in the enterprise asset management market include International Business Machines Corporation, Oracle Corporation, Schneider Electric SE, Honeywell International Inc., SAP SE, Asea Brown Boveri Ltd., Consultants to Government and Industry Incorporated, Rockwell Automation Inc., Infor Inc., AVEVA Group plc, Bentley Systems Incorporated, IFS AB, Accruent LLC, Ramco Systems Limited, Fingent Corporation, MRI Software LLC, Ultimo Software Solutions BV, AssetWorks LLC, Rosmiman Software Corporation, Mainsaver Software, Maintenance Connection, UpKeep Technologies Inc., MPulse Software Inc., CHEQROOM, eWorkOrders, EZOfficeInventory, MVP Plant, Real Asset Management plc, MicroMain Corporation, AMTdirect Inc., ManagerPlus, Nuvolo, Limble CMMS

Which Regions Are Leading the Global Enterprise Asset Management Market in Revenue?
North America was the largest region in the enterprise asset management market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the enterprise asset management market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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