Enterprise Asset Management Market is Expected to Witness a Steady Growth by 2021

Enterprise Asset Management (EAM) is specially designed to enable the ease in management of assets for organizations across various business units, departments, services and geographical locations. EAM includes design, commissioning, construction, operation and maintenance, and replacement of plant and equipment. Enterprise asset management solutions facilitate enterprises to integrate techniques for optimization and historical control throughout asset lifecycle (design, operation and replacement etc.). EAM can be categorized into IT service management, physical asset and infrastructure management, digital asset management, emerging asset management and fixed asset management and accounting.

A sample of this report is available upon request @ https://www.persistencemarketresearch.com/samples/4800

EAM solutions improve business operations through better asset reliability, availability and asset utilization. In addition, these solutions collect, consolidate and analyze all the crucial information on all types of assets in organizations. Enterprise asset management addresses all types of assets, varying from strategic or critical physical assets to human assets. Physical assets include plant and production, infrastructure, transportation, and real estate and facilities. Human assets include personnel expertise, motivation, and roles and responsibilities.

Enterprise asset management framework extends and optimizes organization’s asset life cycle and reduces cost of ownership, which is driving the growth of this market. In addition, EAM solutions enable enterprises to administer aging infrastructure, facilitate asset tracking and increase return on asset (RoA). These factors altogether are expected to fuel the growth of enterprise asset management market over the forecast period. However, enterprise asset management systems require a lot of quality data to track and analyze the implementation of business processes. Inputting the data in EAM system manually using conventional paper forms often becomes too expensive for organizations. This, in turn, reduces the adoption of EAM solutions in organizations.

The global enterprise asset management market can be segmented based on its services, applications and end-users. Depending on the types of services, the enterprise asset management market can be segmented into three major categories as managed services, implementation services and training and support services. The enterprise asset management market can be segmented on the basis of its applications into three categories which include field service management, linear assets and non-linear asset. The linear asset applications include railways, pipelines and electricity transmission lines. The non-linear applications include fleet, equipments and buildings. On the basis of end-users, the enterprise asset management market can be segmented into six major categories as oil and gas industry, government and utilities, transportation, manufacturing industry, healthcare sector and others. The enterprise asset management market can also be segmented based on major geographical regions into North America, Europe, Asia Pacific and Rest of the World (Middle East, Latin America and Africa).

To view TOC of this report is available upon request @ https://www.persistencemarketresearch.com/toc/4800

Some of the key players in enterprise asset management market include Oracle Corporation, IBM Corporation, SAP AG, IFS (Industrial and Financial Systems) AB, ABB Ltd, Invensys Ltd., Fujitsu Ltd., CGI Group Inc., AssetWorks LLC and Infor among others. Key players in this market focus on acquisition and mergers to expand their geographical presence and to gain market share. For example, in 2010, ABB Ltd acquired Ventyx Inc. to expand its enterprise software and services business. Additionally, in 2011, ABB Ltd continued its geographical expansion by acquiring Minicom Pty Ltd and entered in Australian enterprise asset management market.

About Us
Persistence Market Research (PMR) is a third-platform research firm. Our research model is a unique collaboration of data analytics and market research methodology to help businesses achieve optimal performance.

To support companies in overcoming complex business challenges, we follow a multi-disciplinary approach. At PMR, we unite various data streams from multi-dimensional sources. By deploying real-time data collection, big data, and customer experience analytics, we deliver business intelligence for organizations of all sizes.

Contact Us
Persistence Market Research
305 Broadway
7th Floor, New York City,
NY 10007, United States,
USA – Canada Toll Free: 800-961-0353
Email: sales@persistencemarketresearch.com
Web: http://www.persistencemarketresearch.com

This release was published on openPR.