Dublin, Nov. 09, 2023 (GLOBE NEWSWIRE) -- The "Enterprise Asset Management: Applications and Global Markets" report has been added to ResearchAndMarkets.com's offering.
Global Enterprise Asset Management is projected to reach a value of $10 billion by 2028 from $5.4 billion in 2023, growing at a CAGR of 13%
The report covers various segments of the enterprise asset management market, breaking it down by component, asset type, network type, deployment, organization size, end users and region. This report analyzes a variety of developing technologies and their feasibility at present.
Enterprise Asset Management (EAM) is a comprehensive plant operation solution that assists companies in efficiently managing their plants by ensuring continuous equipment functionality at the lowest cost. EAM solutions enable organizations to bring their assets online, manage them throughout their operational lifecycle, and facilitate equipment replacement.
Key functions of EAM solutions include maintenance planning for plant activities, tracking spare parts across multiple operational facilities, and monitoring capital and customer-funded projects. One of the primary benefits of EAM is achieving a higher return on investment (ROI) from plant and equipment assets.
The market for EAM is driven by the increasing demand for enhancing the performance and lifecycle of assets in enterprises. Factors such as the adoption of cloud deployment models, integration of big data with EAM, and the use of IoT platforms and devices for asset maintenance contribute to the growth of the EAM market.
Furthermore, there is a growing need for a comprehensive view of assets and a desire to extend the lifespan of assets using advanced technologies, which presents opportunities for market growth.
EAM solutions are undergoing significant technological transformation, integrating IoT, real-time analytics, AI, augmented reality, digital twins, and telematics to provide insights and optimize equipment and operational assets. EAM is evolving into a smart application that delivers real-time data-driven outcomes and sophisticated insights while interacting with devices.
The report also provides a regional analysis, focusing on major countries such as the U.S., China, Germany, and India, where advanced technologies and EAM opportunities are particularly promising. It covers emerging technologies, ESG (Environmental, Social, and Governance) developments, and recent patents related to EAM.
Report Includes
- Analyses of the global market trends, with historical market revenue data (sales figures) for 2022, estimates for 2023, forecasts for 2024, 2026, and projections of compound annual growth rates (CAGRs) through 2028
- Estimate of the actual market size and revenue forecast for the global EAM market in USD millions, and a corresponding market share analysis based on component, asset type, deployment, size of enterprise, end-use industry, and region.
- In-depth information (facts and figures) pertaining to the major factors influencing the market with respect to specific growth trends, upcoming technologies, future prospects and contributions to the overall market
- Analysis of market growth opportunities with a holistic review of Porter's Five Forces and PESTLE analyses considering the micro-and macroeconomic factors prevailing in the market
- Review of the impacts of COVID-19 and the Russia-Ukraine war on the global and regional markets for EAM systems and applications
- Review of key patent grants and recent patent applications related to EAM, with emphasis on emerging technologies and upcoming developments
- Updates on recent mergers and acquisitions (M&A) activity, venture fundings, and other growth strategies from EAM vendors
- Identifying the key players in the market, and analysis of the competitive landscape based on recent developments, segmental revenues and operational integration
- Profiles of the leading global players, including ABB Ltd., Hexagon AB, IBM Corp., SAP SE, Oracle Corp., and IPS Intelligent Process Solutions GmbH
Company Profiles
- Overview
- Abb Ltd.
- Accruent
- Aptean
- Assetworks Inc.
- Aveva Group plc
- Cgi Inc.
- Emaint Enterprises LLC
- Hexagon Ab
- Ifs
- Ibm Corp.
- Ips Intelligent Process Solutions GmbH
- Oracle Corp.
- Rfgen Software
- Sap Se
- Ssg Insight Ltd.
- Upkeep Technologies Inc.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 240 |
| Forecast Period | 2023 - 2028 |
| Estimated Market Value (USD) in 2023 | $5.4 Billion |
| Forecasted Market Value (USD) by 2028 | $10 Billion |
| Compound Annual Growth Rate | 13.0% |
| Regions Covered | Global |
Key Topics Covered:
Chapter 1 Introduction
Chapter 2 Summary and Highlights
- Market Outlook
- Market Summary
Chapter 3 Market Overview
- Introduction
- Importance of Eam in Businesses
- Working Process of Eam Solution
- Benefits of Eam
- EAM Application and Industries
- Key Functions of EAM
- Value Chain Analysis for the Global Market for Enterprise Asset Management
- Porter's Five Forces Analysis
- Bargaining Power of Suppliers
- Bargaining Power of Buyers
- The Threat of New Entrants
- Threat of Substitutes
- Competitive Rivalry
- Pestle Analysis
- Impact of Covid-19 on the Global Market for Enterprise Asset Management
- Impact of Russia-Ukraine War on the Global Market for Enterprise Asset Management
Chapter 4 Market Dynamics
- Overview
- Market Drivers
- Increasing Usage of IoT Platforms and Devices to Manage Enterprise Assets
- Convergence of Technologies Such as Ai, IoT and Analytics
- Growing Popularity of Saas-Based Eam Solutions
- Demand for Effective Management of Enterprise Resources
- Strategic Shift in Enterprises from Reactive to Predictive Approach
- Ageing Infrastructure
- Market Restraints
- High Cost of Eam Solution
- Cybersecurity Risk
- Current Market Trends
- The Ongoing Trend for Integrating Eam With Big Data
- Increased Focus on Proactive Maintenance Practices
- Market Opportunities
- Growing Initiatives to Extend the Life Span of the Asset Using Advanced Technologies
- Increasing Trend for Deploying Cloud-Based EAM Solutions
Chapter 5 Market Breakdown by Segment
- Overview
- Software
- Services
Chapter 6 Market Breakdown by Asset Type
- Overview
- Production Equipment
- Linear Assets
- Facilities
- Fleet
- Others
Chapter 7 Market Breakdown by Deployment
- Overview
- On-Premise
- Cloud
- Chapter 8 Market Breakdown by Organization Size
- Overview
- Large Enterprises
- Small and Medium Enterprises
Chapter 9 Market Breakdown by End-Use Industry
- Overview
- Oil and Gas
- Machinery Manufacturing
- Aerospace and Defense
- Energy and Power
- Metal and Mining
- Retail
- Automotive
- Government Facilities
- Others
Chapter 10 Market Breakdown by Region
- Overview
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- Australia
- South Korea
- Rest of Asia-Pacific
- Rest of the World
- Middle East and Africa
- South America
Chapter 11 ESG Development
- Overview
- Role of EAM in Achieving ESG Targets
- Role of EAM in Improving Sustainability
- Role of EAM in Addressing Net-Zero Targets
- Digitalization and ESG Transformation
- EAM Supports ESG
- Case Study: Examples of Successful Implementation of ESG
- Concluding Remarks
Chapter 12 Emerging Technologies and Developments
- Technology Overview
- Technological Trends in EAM
Chapter 13 Patent Analysis
- Overview
- Descriptions of Patents on Enterprise Asset Management
Chapter 14 M&A and Funding Outlook
- M&A Analysis
- Venture Capital in the Global Market for Enterprise Asset Management
Chapter 15 Competitive Intelligence
- Overview
- Market Share Analysis
- Strategic Analysis
- Product Launches
- Partnerships
- Mergers and Acquisitions
- Product Mapping Analysis
- Product Mapping Analysis by Deployment Model
For more information about this report visit https://www.researchandmarkets.com/r/mu30tw
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