Categories: Market Research

Enterprise Asset Management Market Growth Outlook Through 2024-2033

Overview and Scope
Enterprise asset management (EAM) refers to software, systems, and services, which are used to control and maintain the assets and equipment. EAM is a transactional workflow system designed to manage capital asset management by managing asset data and work processes.

Sizing and Forecast
The enterprise asset management market size has grown rapidly in recent years. It will grow from $6.22 billion in 2023 to $6.87 billion in 2024 at a compound annual growth rate (CAGR) of 10.3%. The growth in the historic period can be attributed to regulatory compliance, aging infrastructure, cost optimization, preventive maintenance, integration with ERP systems.

The enterprise asset management market size is expected to see rapid growth in the next few years. It will grow to $10.55 billion in 2028 at a compound annual growth rate (CAGR) of 11.3%. The growth in the forecast period can be attributed to mobile exam solutions, focus on sustainability, cybersecurity measures, exam for industry-specific needs. Major trends in the forecast period include digital twin technology, technological advancements, IoT integration for condition monitoring, cloud-based exam solutions.

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Segmentation & Regional Insights
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

North America was the largest region in the enterprise asset management market in 2023. 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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Major Driver Impacting Market Growth
Rising demand for SaaS-based EAM solutions is driving the growth of the market. SaaS-based EAM services are a cloud bases software service that helps vendors provide applications via a subscription-based model. These solutions have become a fundamental in the technology world for dashboards, mobile apps, asset tracking, performance management, forecasting, and regulatory compliances. The customers are increasingly investing in SaaS-based solutions over the traditional on-premises solutions, owing to various factors such as reduced time to benefit, lower costs, scalability and integration, and others. For instance, according to the study published on DevSquad in 2022, 73% of businesses are switching all systems to SaaS, and the companies are planning to increase their spending by 44% from the previous year.

Key Industry Players

Major companies operating in the enterprise asset management market report are 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., Rockwell Automation Inc., Fluke Corporation, 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

The enterprise asset management market report table of contents includes:

1. Executive Summary
2. Enterprise Asset Management Market Characteristics
3. Enterprise Asset Management Market Trends And Strategies
4. Enterprise Asset Management Market – Macro Economic Scenario
5. Global Enterprise Asset Management Market Size and Growth
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31. Enterprise Asset Management Market Other Major And Innovative Companies
32. Global Enterprise Asset Management Market Competitive Benchmarking
33. Global Enterprise Asset Management Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Enterprise Asset Management Market
35. Enterprise Asset Management Market Future Outlook and Potential Analysis
36.Appendix

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