Dublin, Feb. 15, 2023 (GLOBE NEWSWIRE) -- The "Enterprise Asset Management Market by Application (Asset Life Cycle Management, Inventory Management, Predictive Maintenance), Component, Organization Size, Deployment Model, Vertical (Manufacturing, Energy & Utilities) and Region - Global Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.
The enterprise asset management market size is expected to grow from USD 4.2 billion in 2022 to USD 7.0 billion by 2027, at a Compound Annual Growth Rate (CAGR) of 10.5% during the forecast period. The inclination of organizations toward cloud-based deployments to overcome on-premises limitations is driving the growth of the global enterprise asset management market.
Large enterprises segment to account for larger market size during the forecast period
The adoption of EAM solutions is higher in the large enterprises segment, and the trend is expected to continue during the forecast period. EAM solutions are important for large enterprises, as they have a large fleet of assets, bigger work orders to be managed, and critical information to be taken care of. If work orders are not managed efficiently by large enterprises, it can lead to increased costs and lesser productivity. Additionally, this can hamper customer loyalty and market share.
Manufacturing vertical to hold largest market share in 2022
Asset management for manufacturing companies covers the entire lifecycle of plant assets, such as equipment, parts, production lines, and the plant buildings themselves. It includes making decisions about asset usage, asset investment, and disinvestment policies, and managing the asset portfolio. As a process, the manufacturing industry is becoming more competitive with the increasing customer demand and changing market conditions, companies require EAM solutions to meet safety requirements, comply with environmental regulations, fluctuating energy costs, maintenance schedules, track and monitor inventory usage, and improve auditing, reporting, and budgeting activities.
North America to hold the largest market share of enterprise asset management market in 2022
North America is one of the early adopters of technology, focusing on continuous innovation. The region comprises two major economies: US and Canada. The growing size of the region's asset-intensive industry is driving the demand for asset management solutions. These industries utilize AI and cloud-based applications to enhance their customer base and streamline business operations. Further, the growing digitalization initiatives in the region are driving the demand for digital asset management strategies to manage cybersecurity and associated risks. These factors boost the demand for the enterprise asset management market across North America.
| Report Attribute | Details |
| No. of Pages | 232 |
| Forecast Period | 2022 - 2027 |
| Estimated Market Value (USD) in 2022 | $4.2 Billion |
| Forecasted Market Value (USD) by 2027 | $7 Billion |
| Compound Annual Growth Rate | 10.5% |
| Regions Covered | Global |
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview and Industry Trends
6 Enterprise Asset Management Market, by Component
6.1 Introduction
6.2 Solutions
6.3 Services
6.3.1 Professional Services
6.3.1 Managed Services
7 Market, by Application
7.1 Introduction
7.2 Asset Lifecycle Management
7.3 Inventory Management
7.4 Work Order Management
7.5 Labor Management
7.6 Predictive Maintenance
7.7 Facility Maintenance
7.8 Other Applications
8 Enterprise Asset Management Market, by Deployment Model
8.1 Introduction
8.2 On-Premises
8.3 Cloud
9 Market, by Organization Size
9.1 Introduction
9.2 Large Enterprises
9.3 Small and Medium-Sized Enterprises
10 Enterprise Asset Management Market, by Vertical
10.1 Introduction
10.2 Manufacturing
10.3 Energy & Utilities
10.4 Healthcare & Life Sciences
10.5 Transportation & Logistics
10.6 IT & Telecommunications
10.7 Government & Public Sector
10.8 Education
10.9 Other Verticals
11 Enterprise Asset Management Market, by Region
12 Competitive Landscape
12.1 Introduction
12.2 Market Evaluation Framework
12.3 Market Share Analysis
12.4 Revenue Analysis
12.5 Key Market Developments
12.5.1 New Launches
12.5.2 Deals
12.5.3 Others
12.6 SMEs Evaluation Quadrant
12.6.1 Definitions and Methodology
12.6.2 Progressive Companies
12.6.3 Responsive Companies
12.6.4 Dynamic Companies
12.6.5 Starting Blocks
12.7 Company Evaluation Quadrant
12.7.1 Definitions and Methodology
12.7.2 Stars
12.7.3 Emerging Leaders
12.7.4 Pervasive
12.7.5 Participants
12.7.6 Company Product Footprint Analysis
13 Company Profiles
14 Adjacent Market
15 Appendix
Companies Mentioned
- ABB
- Aveva
- Aptean
- Assetworks
- Asset Panda
- Asset Infinity
- Cgi
- Cloudgin
- Cheqroom
- Emaint
- Ezofficeinventory
- Ezmaintain
- Fractal Solutions
- Fleetio
- Gocodes
- IBM
- Infor
- Ifs
- Ips Intelligent Process Solutions
- Innomaint
- Limble CMMS
- Maintenance Connection
- Maintain X
- Oracle
- Rfgen Software
- Redlist
- SAP
- Trackx
- The Asset Guardian
- Upkeep
- Ultimo
For more information about this report visit https://www.researchandmarkets.com/r/vg77r-asset?w=12
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