Increasing Demand For Cloud-Based Solutions Fueling The Market Growth Due To Enhanced Asset Visibility And Operational Efficiency Emerges as a Core Driver of the Enterprise Asset Management (EAM) Market in 2025

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Enterprise Asset Management (EAM) Market Size Growth Forecast: What to Expect by 2025?
In recent years, the market size for enterprise asset management (EAM) has seen rapid expansion. The projected growth is from $7.25 billion in 2024 and is expected to reach $8.23 billion by 2025, representing a compound annual growth rate (CAGR) of 13.4%. This growth during the historical period is due to several factors including increased attention to maintenance, a surge in demand for mobile-based EAM applications, increased investments in automation, a growing trend of adopting renewable energy assets and a renewed emphasis on sustainable and green asset management.

How Will the Enterprise Asset Management (EAM) Market Size Evolve and Grow by 2029?
In the years to come, it is anticipated that the enterprise asset management (eam) market size will go through a swift expansion. The market is set to reach a value of $13.65 billion by 2029, reflecting a compound annual growth rate (CAGR) of 13.5%. Several factors account for this predicted growth in the forecast period, such as the growing demand for cloud-based EAM solutions, amplifying cybersecurity issues, the escalations in the automation of maintenance workflows, the spike in edge computing usage, and the growing significance of AI-fueled insights. Expect to see key trends during this forecast period like asset tracking empowered by IoT, cloud-driven EAM solutions, the emergence of digital twin technology, 5G-enabled asset connectivity, and advancements in cybersecurity.

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What Drivers Are Propelling the Growth of Enterprise Asset Management (EAM) Market Forward?
The growing need for cloud-based solutions is anticipated to fuel the expansion of the enterprise asset management market. These online services, which provide computing resources, storage, and on-demand applications, negate the necessity for on-site infrastructure. The popularity of cloud-based solutions is increasing due to their scalable nature, allowing organizations to adjust resources optimally for performance enhancement while simultaneously reducing infrastructure expenses. Cloud-based solutions in the realm of enterprise asset management offer benefits like real-time data accessibility, scalability, and simplified maintenance procedures across various assets. For example, a report by Google Cloud, a cloud computing service based in the U.S., stated that the usage of multiple public clouds has seen a 26% rise in 2022, up from 21% in 2021. Additionally, the use of hybrid clouds has also seen a significant increase, from 25% in 2021 to 42.5% in 2022. As a result, the escalating demand for cloud-based solutions is a key driver behind the growth of the enterprise asset management market.

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Which Emerging Trends Are Transforming the Enterprise Asset Management (EAM) Market in 2025?
Major corporations in the enterprise asset management sector are aiming to create innovative solutions such as cloud-based EAM solutions to bolster asset monitoring and boost operational effectiveness. This refers to a software solution, housed in the cloud, that provides companies with the means to oversee, handle, and maximize their physical assets throughout their lifespan. As an illustration, in March 2022, Aptean Inc., an American software corporation, debuted Aptean EAM, which includes a custom-made computerized maintenance management system (CMMS) aimed at manufacturers. This solution facilitates smoother maintenance operations by providing immediate insight into work order statuses, sophisticated analytics, and adaptable dashboards. It contributes to reduced downtime, improved safety, and minimal maintenance expenditures.

What Are the Key Segments in the Enterprise Asset Management (EAM) Market?
The enterprise asset management (eam)market covered in this report is segmented -

1) By Type Of Components: Software, Services
2) By Organization Type: Small And Medium Enterprises, Large Organizations
3) By Application: Asset Lifecycle Management, Labor Management, Inventory Management, Predictive Maintenance, Work Order Management, Other Applications
4) By End-User: Healthcare, Government, Information Technology And Telecommunication, Banking, Financial Services, And Insurance (BFSI), Manufacturing, Energy And Utility, Transportation, Other End-Users

Subsegments:

1) By Software: Cloud-Based, On-Premise
2) By Services: Implementation And Integration, Consulting And Advisory, Training And Support, Managed Services

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Who Are the Key Players Shaping the Enterprise Asset Management (EAM) Market's Competitive Landscape?
Major companies operating in the enterprise asset management (EAM) market are Siemens AG, accenture* plc, International Business Machines Corporation, Oracle Corporation, SAP SE, CGI Inc., ServiceNow Inc., Hexagon AB, AVEVA Group plc, IFS AB, Aptean Inc., ABS Group, Accurent Inc., MaintainX, AssetWorks LLC, DreamzTech Solutions Inc., UpKeep Maintenance Management Inc., Asset Panda Inc., Rfgen Software Inc., EZMaintain Inc.

What Geographic Markets Are Powering Growth in the Enterprise Asset Management (EAM) Market?
North America was the largest region in the enterprise asset management (EAM) 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 (EAM) market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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