Global Enterprise Asset Management Market Expected to Achieve 12.9% CAGR by 2029: Growth Forecast Insights

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How Large Will the Enterprise Asset Management Market Size By 2025?
In recent times, the market size of enterprise asset management has seen a robust growth. The projections indicate an expansion from $6.71 billion in 2024 to $7.27 billion in 2025 with a compound annual growth rate (CAGR) of 8.3%. The growth witnessed in the past period is due to factors such as regulatory compliance, deteriorating infrastructure, optimization of costs, preventive maintenance and ERP system integration.

How Big Is the Enterprise Asset Management Market Size Expected to Grow by 2029?
The market size of enterprise asset management is predicted to witness a sharp surge in the coming years. It is projected to reach a valuation of $11.83 billion by 2029, with a Compound Annual Growth Rate (CAGR) of 12.9%. Factors such as mobile exam solutions, attention towards sustainability, measures for cybersecurity, and exams designed for industry-specific requirements can account for this growth. The trend predictions for the coming period encompass digital twin technology, technological progressions, integration of IoT for monitoring conditions, and cloud-based exam solutions.

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Which Key Market Drivers Powering Enterprise Asset Management Market Expansion and Growth?
The proliferation of SaaS-based EAM solutions is propelling the market's expansion. These are cloud-based software services that allow vendors to offer applications through a subscription model. These solutions have become a cornerstone in the tech realm for facets such as dashboards, mobile applications, asset tracking, performance management, forecasting, and regulatory compliance. An increasing number of customers are diverting their investments to SaaS-based solutions over the conventional on-site ones due to a multitude of reasons such as lower costs, quicker benefits, scalability and integration, among others. As an illustration, a 2022 study by DevSquad revealed that 73% of corporations are transitioning all their systems to SaaS and they're planning to elevate their expenditure by 44% compared to the prior year.

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Which Fast-Growing Trends Are Poised to Disrupt the Enterprise Asset Management Market?
The progress in technology is influencing the enterprise asset management market. Powerhouse corporations in this market are honing their attention on increasing their development initiatives in innovative technologies. As an example, Aptean, in March 2022, introduced a cloud-based EAM solutions that include a computerized maintenance management system tailored for manufacturing clients. This latest unveiling will assist small and medium-sized manufacturing clients to fulfill their asset management needs and expectations.

What Are the Emerging Segments in the Enterprise Asset Management Market?
The enterprise asset managementmarket 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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Who Are the Global Leaders in the Enterprise Asset Management Market?
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 are the Top Profitable Regional Markets for the Enterprise Asset Management Industry?
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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