Enterprise Asset Management Market Share, Size, Trends 2030

Description
Segmentation & Scope

Growth of IoT-enabled and AI-based Devices Maintaining Competition in Enterprise Asset Management Software Market

Enterprise asset management (EAM) refers to managing the maintenance of the physical assets and serves to maximise the lifespan of an equipment, reduce costs in the long term, improve safety, and increase efficiency. EAM is a combination of software, systems, and services used to maintain and control operational assets and equipment. Increasing adoption of EAM to optimise the quality and utilisation of assets throughout their lifecycle eyeing increased productive uptime, and reduced operational costs is expected to drive the growth of enterprise asset management market worldwide. Growing demand for bettering the lifetime performance of assets is increasing, which will continue to fuel the progress of enterprise asset management market. Heavy reliance on physical infrastructure, and the advent of cloud deployment models will further shape enterprise asset management market. Extensive data integration with EAM will create business opportunities. In the upcoming years, there will be a sharp increase in demand for EAM integration and deployment, consultancy, training, monitoring, and upgrade services. The desire for cloud-based EAM solutions will grow more quickly in the future due to the rising demand for scalability, anytime, anywhere data access, and lower IT costs.

Businesses use cloud-based EAM systems to manage assets during COVID-19 because they enable the remote execution of daily tasks. Companies that provide EAM software are concentrating on asset-intensive platforms to continuously track, assess, and manage reliability as well as technological and human assets due to the growing demand for asset performance and advanced environmental sustainability. IoT-based applications are being used more frequently due to growing IoT adoption in smartphones and laptops. The identification of performance and control adjustments is made possible by the integration of IoT with EAM. The growth of smart cities is anticipated to rely on the integration of IoT with EAM software heavily. All vital infrastructure is monitored in intelligent cities. One of the leading causes driving enterprise asset management demand development across geographies is increased data analysis accuracy, better decision-making, and asset management software results. More than 10 billion IoT devices will be used in 2021, estimated to reach 30.9 billion by 2025. The continual increase in the IoT-based device will propel the growth of enterprise asset management market.

One of the factors propelling the market for corporate asset management software solutions is the development of artificial intelligence (AI) and drone-based enterprise solutions. AI facilitates better data handling for decision-making. Asset managers have developed AI systems to gather, purify, and evaluate the vast amount of data accessible, including analyst reports, macroeconomic statistics, GDP growth, unemployment, and more "alternative" data sources. Customer interaction tools like chatbots, predictive behaviour analysis, hyper-personalisation, and voice assistance are the most common use cases for AI in the retail sector. Globally, 4.2 billion digital voice assistants will be in use in 2020. By 2024, the number of people using digital assistants is anticipated to double to 8.4 billion. The increasing deployment of voice assistants in the EAM software will propel the expansion of enterprise asset management market.

Cloud Segment to Witness Fastest Growth with Rising Adoption Worldwide

The market share of the cloud segment will increase throughout the forecast. The cloud deployment strategy offers improved data control, a decreased risk of data loss, and fewer worries about regulatory compliance. With these benefits, more companies are utilising cloud-based security and safety solutions, thereby boosting the growth of enterprise asset management market. Organisations are progressively deploying cloud-based solutions to cater to the specific business requirements, and user needs. The cloud deployment strategy offers increased scalability, quickness, round-the-clock assistance, and enhanced IT security. A key growth enabler has been the growing requirement for adequate cloud storage, access, and management of these companies' enormous volumes of data.

North America Retains Lead with Surging Adoption of Asset Lifecycle Management Solutions in the US

The North American enterprise asset management market is anticipated to hold a significant global market share in the forecast period due to technological developments in EAM preventive maintenance systems. The adoption rate of enterprise asset management solutions in North America has been accelerated by significant investments, intense R&D efforts, and increased penetration of EAM preventative maintenance systems. The region's considerable market share is primarily attributable to large EAM enterprises and several growing start-ups. The US market is expanding due to a highly developed IT infrastructure, increasing use of asset lifecycle management solutions, and organisations’ more significant focus on adhering to regulatory and compliance norms. There were approximately 585,000 tech enterprises in the US at the end of 2021. Such a rapid increase in the tech companies will increase the demand for EAM software in the region.

Regarding technology adoption, Asia Pacific is one of the fastest-growing areas in global enterprise asset management market, and the region's huge businesses and various governments are responsible for the demand for digitalisation. Leading this technology adoption are nations like China, Japan, Australia, Singapore, India, and Indonesia, which embrace cutting-edge technologies like AI, edge, IoT, analytics, and cloud. China is predicted to have over 7.7 billion IoT-connected devices by 2030, making it the most significant IoT market worldwide. The complexity of managing workloads and apps manually is a primary reason driving the use of EAM among businesses in this region due to the growing use of cloud technologies and the volume of data. Cloud services' accessibility and pricing would significantly influence enterprise adoption of cloud technology. IBM, Infor, IFS, and SAP are a few of the significant vendors active in the area.

Global Enterprise Asset Management Market: Competitive Landscape

Several participants in enterprise asset management market are launching new products and establishing partnerships, alliances, and collaborations. In February 2021, SAP announced the acquisition of AppGyver, a pioneer in no-code development. With this merger, SAP will be able to help clients and partners quickly adapt their IT solutions to meet their specific needs and improve the usability of their applications. In January 2021, IBM and Atos worked together to use AI and RedHat Open Shift technologies to speed up digital transformation in businesses. The partnership offers end customers solutions for asset life cycle management, asset monitoring and MRO optimisation, SMART waste/energy monitoring and optimisation, packaging, transportation, and logistics efficiency.

Few of the players in the enterprise asset management market include IBM (US), SAP (Germany), Oracle (US), Infor (US), IFS (Sweden), ABB (Switzerland), Intelligent Process Solutions (Germany), Maintenance Connection (US), Aveva (UK), Aptean (US), Emanit (US), CGI (Canada), Rfgen Software (US), Assetworks (US), Ultimo Software Solutions (UK), UpKeep (US), Asset Panda (US), EZOfficeInventory (US), EZMaintain.com (US), Pazo (India), Asset Infinity (India), KloudGin (US), Fractal (Chile), InnoMaint Software (India), Aladinme (UAE), Limble (US), Redlist (US), TrackX (US), Cheqroom (Belgium), The Asset Guardian (Canada), GoCodes (US), and Fleetio (US).

Regional Classification of the Global Enterprise Asset Management Market is Listed Below:

North America

U.S.
Canada

Europe

Germany
France
Spain
U.K.
Italy
Russia
Rest of Europe

Asia Pacific

China
Japan
India
Southeast Asia
Rest of Asia Pacific

Latin America

Brazil
Mexico
Rest of Latin America

Middle East and Africa

GCC
South Africa
Rest of Middle East & Africa

*Regions and countries are subject to change based on data availability.

Key Elements Included In The Study: Global Enterprise Asset Management Market

Enterprise Asset Management Market by Product/Technology/Grade, Application/End-user, and Region
Executive Summary (Opportunity Analysis and Key Trends)
Historical Market Size and Estimates, Value, 2019 - 2022
Market Value at Regional and Country Level, 2023 - 2030
Market Dynamics and Economic Overview
Market Size in Value, Growth Rates, and Forecast Figures, 2023 - 2030
Competitive Intelligence with Financials, Key Developments, and Portfolio of Leading Companies
Regional and Product/Grade/Application/End-user Price Trends Analysis
Value Chain and Five Force’s Analysis
Regional/Sub-region/Country Market Size and Trend Analysis
Company Market Share Analysis and Key Player Profiles

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1. Executive Summary
1.1. Global Enterprise Asset Management Market: Snapshot
1.2. Future Projections, 2023 - 2030, (US$ Mn)
1.3. Key Segment Analysis and Competitive Insights
1.4. Premium Insights

2. Market Overview
2.1. Market Definitions and Segmentation
2.2. Market Dynamics
2.2.1. Driver
  2.2.2. Restraint
  2.2.3. Industry Challenges & Opportunities
2.3. Market Forces Analysis
  2.3.1. Value Chain Analysis
  2.3.2. Porters Five Forces Analysis
2.4. Challenges and Solutions
2.5. Supply Chain Impact Analysis
2.6. COVID-19 Impact Analysis
  2.6.1. Pre and Post Covid-19 Analysis
2.7. Regulatory Scenario
2.8. Economic Analysis

3. Global Enterprise Asset Management Market Outlook, 2019 - 2030
3.1. Global Enterprise Asset Management Market Outlook, by Component, Value (US$ Mn), 2019 - 2030
  3.1.1. Key Highlights
  3.1.2. Solutions
  3.1.3. Services
3.2. Global Enterprise Asset Management Market Outlook, by Organization Size, Value (US$ Mn), 2019 - 2030
  3.2.1. Key Highlights
3.2.1.1. Asset Management
  3.2.1.2. Inventory Management
  3.2.1.3. Work Order Management
  3.2.1.4. Labour Management
  3.2.1.5. Predictive Maintenance
  3.2.1.6. Facility Management
  3.2.1.7. Misc.
3.3. Global Enterprise Asset Management Market Outlook, by Organization Size, Value (US$ Mn), 2019 - 2030
  3.3.1. Key Highlights
  3.3.1.1. Large Enterprises
  3.3.1.2. SMEs
3.4. Global Enterprise Asset Management Market Outlook, by Verticals, Value (US$ Mn), 2019 - 2030
  3.4.1. Key Highlights
  3.4.1.1. Energy & Utilities
  3.4.1.2. Manufacturing
  3.4.1.3. Transportation & Logistics
  3.4.1.4. Government & Public Sector
  3.4.1.5. Healthcare & Life sciences
  3.4.1.6. IT & Telecommunications
  3.4.1.7. Banking & Finance
  3.4.1.8. Misc.
3.5. Global Enterprise Asset Management Market Outlook, by Deployment Mode, Value (US$ Mn), 2019 - 2030
  3.5.1. Key Highlights
  3.5.1.1. Cloud
  3.5.1.2. On-premises
3.6. Global Enterprise Asset Management Market Outlook, by Region, Value (US$ Mn), 2019 - 2030
  3.6.1. Key Highlights
  3.6.1.1. North America
  3.6.1.2. Europe
  3.6.1.3. Asia Pacific
  3.6.1.4. Latin America
  3.6.1.5. Middle East & Africa
  3.6.2. Market Attractiveness Analysis

4. North America Enterprise Asset Management Market Outlook, 2019 - 2030
4.1. North America Enterprise Asset Management Market Outlook, by Component, Value (US$ Mn), 2019 - 2030
  4.1.1. Key Highlights
  4.1.2. Solutions
  4.1.3. Services
4.2. North America Enterprise Asset Management Market Outlook, by Organization Size, Value (US$ Mn), 2019 - 2030
  4.2.1. Key Highlights
  4.2.1.1. Asset Management
  4.2.1.2. Inventory Management
  4.2.1.3. Work Order Management
  4.2.1.4. Labour Management
  4.2.1.5. Predictive Maintenance
  4.2.1.6. Facility Management
  4.2.1.7. Misc.
4.3. North America Enterprise Asset Management Market Outlook, by Organization Size, Value (US$ Mn), 2019 - 2030
  4.3.1. Key Highlights
  4.3.1.1. Large Enterprises
  4.3.1.2. SMEs
4.4. North America Enterprise Asset Management Market Outlook, by Verticals, Value (US$ Mn), 2019 - 2030
  4.4.1. Key Highlights
  4.4.1.1. Energy & Utilities
  4.4.1.2. Manufacturing
  4.4.1.3. Transportation & Logistics
  4.4.1.4. Government & Public Sector
  4.4.1.5. Healthcare & Life sciences
  4.4.1.6. IT & Telecommunications
  4.4.1.7. Banking & Finance
  4.4.1.8. Misc.
4.5. North America Enterprise Asset Management Market Outlook, by Deployment Mode, Value (US$ Mn), 2019 - 2030
  4.5.1. Key Highlights
  4.5.1.1. Cloud
  4.5.1.2. On-premises
4.6. North America Enterprise Asset Management Market Outlook, by Country, Value (US$ Mn), 2019 - 2030
  4.6.1. Key Highlights
  4.6.1.1. U.S.
  4.6.1.2. Canada

5. Europe Enterprise Asset Management Market Outlook, 2019 - 2030
5.1. Europe Enterprise Asset Management Market Outlook, by Component, Value (US$ Mn), 2019 - 2030
  5.1.1. Key Highlights
  5.1.2. Solutions
  5.1.3. Services
5.2. Europe Enterprise Asset Management Market Outlook, by Organization Size, Value (US$ Mn), 2019 - 2030
  5.2.1. Key Highlights
  5.2.1.1. Asset Management
  5.2.1.2. Inventory Management
  5.2.1.3. Work Order Management
  5.2.1.4. Labour Management
  5.2.1.5. Predictive Maintenance
  5.2.1.6. Facility Management
  5.2.1.7. Misc.
5.3. Europe Enterprise Asset Management Market Outlook, by Organization Size, Value (US$ Mn), 2019 - 2030
  5.3.1. Key Highlights
  5.3.1.1. Large Enterprises
  5.3.1.2. SMEs
5.4. Europe Enterprise Asset Management Market Outlook, by Verticals, Value (US$ Mn), 2019 - 2030
  5.4.1. Key Highlights
  5.4.1.1. Energy & Utilities
  5.4.1.2. Manufacturing
  5.4.1.3. Transportation & Logistics
  5.4.1.4. Government & Public Sector
  5.4.1.5. Healthcare & Life sciences
  5.4.1.6. IT & Telecommunications
  5.4.1.7. Banking & Finance
  5.4.1.8. Misc.
5.5. Europe Enterprise Asset Management Market Outlook, by Deployment Mode, Value (US$ Mn), 2019 - 2030
  5.5.1. Key Highlights
  5.5.1.1. Cloud
  5.5.1.2. On-premises
5.6. Europe Enterprise Asset Management Market Outlook, by Country, Value (US$ Mn), 2019 - 2030
  5.6.1. Key Highlights
  5.6.1.1. Germany
  5.6.1.2. France
  5.6.1.3. U.K.
  5.6.1.4. Italy
  5.6.1.5. Rest of Europe
  5.6.2. BPS Analysis/Market Attractiveness Analysis

6. Asia Pacific Enterprise Asset Management Market Outlook, 2019 - 2030
6.1. Asia Pacific Enterprise Asset Management Market Outlook, by Component, Value (US$ Mn), 2019 - 2030
  6.1.1. Key Highlights
  6.1.2. Solutions
  6.1.3. Services
6.2. Asia Pacific Enterprise Asset Management Market Outlook, by Organization Size, Value (US$ Mn), 2019 - 2030
  6.2.1. Key Highlights
  6.2.1.1. Asset Management
  6.2.1.2. Inventory Management
  6.2.1.3. Work Order Management
  6.2.1.4. Labour Management
  6.2.1.5. Predictive Maintenance
  6.2.1.6. Facility Management
  6.2.1.7. Misc.
6.3. Asia Pacific Enterprise Asset Management Market Outlook, by Organization Size, Value (US$ Mn), 2019 - 2030
  6.3.1. Key Highlights
  6.3.1.1. Large Enterprises
  6.3.1.2. SMEs
6.4. Asia Pacific Enterprise Asset Management Market Outlook, by Verticals, Value (US$ Mn), 2019 - 2030
  6.4.1. Key Highlights
  6.4.1.1. Energy & Utilities
  6.4.1.2. Manufacturing
  6.4.1.3. Transportation & Logistics
  6.4.1.4. Government & Public Sector
  6.4.1.5. Healthcare & Life sciences
  6.4.1.6. IT & Telecommunications
  6.4.1.7. Banking & Finance
  6.4.1.8. Misc.
6.5. Asia Pacific Enterprise Asset Management Market Outlook, by Deployment Mode, Value (US$ Mn), 2019 - 2030
  6.5.1. Key Highlights
  6.5.1.1. Cloud
  6.5.1.2. On-premises
6.6. Asia Pacific Enterprise Asset Management Market Outlook, by Country, Value (US$ Mn), 2019 - 2030
  6.6.1. Key Highlights
  6.6.1.1. China
  6.6.1.2. Japan
  6.6.1.3. South Korea
  6.6.1.4. India
  6.6.1.5. Rest of Asia Pacific
  6.6.2. BPS Analysis/Market Attractiveness Analysis

7. Latin America Enterprise Asset Management Market Outlook, 2019 - 2030
7.1. Latin America Enterprise Asset Management Market Outlook, by Component, Value (US$ Mn), 2019 - 2030
  7.1.1. Key Highlights
  7.1.2. Solutions
  7.1.3. Services
7.2. Latin America Enterprise Asset Management Market Outlook, by Organization Size, Value (US$ Mn), 2019 - 2030
  7.2.1. Key Highlights
  7.2.1.1. Asset Management
  7.2.1.2. Inventory Management
  7.2.1.3. Work Order Management
  7.2.1.4. Labour Management
  7.2.1.5. Predictive Maintenance
  7.2.1.6. Facility Management
  7.2.1.7. Misc.
7.3. Latin America Enterprise Asset Management Market Outlook, by Organization Size, Value (US$ Mn), 2019 - 2030
  7.3.1. Key Highlights
  7.3.1.1. Large Enterprises
  7.3.1.2. SMEs
7.4. Latin America Enterprise Asset Management Market Outlook, by Verticals, Value (US$ Mn), 2019 - 2030
  7.4.1. Key Highlights
  7.4.1.1. Energy & Utilities
  7.4.1.2. Manufacturing
  7.4.1.3. Transportation & Logistics
  7.4.1.4. Government & Public Sector
  7.4.1.5. Healthcare & Life sciences
  7.4.1.6. IT & Telecommunications
  7.4.1.7. Banking & Finance
  7.4.1.8. Misc.
7.5. Latin America Enterprise Asset Management Market Outlook, by Deployment Mode, Value (US$ Mn), 2019 - 2030
  7.5.1. Key Highlights
  7.5.1.1. Cloud
  7.5.1.2. On-premises
7.6. Latin America Enterprise Asset Management Market Outlook, by Country, Value (US$ Mn), 2019 - 2030
  7.6.1. Key Highlights
  7.6.1.1. Brazil
  7.6.1.2. Mexico
  7.6.1.3. Rest of Latin America
  7.6.2. BPS Analysis/Market Attractiveness Analysis

8. Middle East & Africa Enterprise Asset Management Market Outlook, 2019 - 2030
8.1. Middle east & Africa Enterprise Asset Management Market Outlook, by Component, Value (US$ Mn), 2019 - 2030
  8.1.1. Key Highlights
  8.1.2. Solutions
  8.1.3. Services
8.2. Middle East & Africa Enterprise Asset Management Market Outlook, by Organization Size, Value (US$ Mn), 2019 - 2030
  8.2.1. Key Highlights
  8.2.1.1. Asset Management
  8.2.1.2. Inventory Management
  8.2.1.3. Work Order Management
  8.2.1.4. Labour Management
  8.2.1.5. Predictive Maintenance
  8.2.1.6. Facility Management
  8.2.1.7. Misc.
8.3. Middle East & Africa Enterprise Asset Management Market Outlook, by Organization Size, Value (US$ Mn), 2019 - 2030
  8.3.1. Key Highlights
  8.3.1.1. Large Enterprises
  8.3.1.2. SMEs
8.4. Middle East & Africa Enterprise Asset Management Market Outlook, by Verticals, Value (US$ Mn), 2019 - 2030
  8.4.1. Key Highlights
  8.4.1.1. Energy & Utilities
  8.4.1.2. Manufacturing
  8.4.1.3. Transportation & Logistics
  8.4.1.4. Government & Public Sector
  8.4.1.5. Healthcare & Life sciences
  8.4.1.6. IT & Telecommunications
  8.4.1.7. Banking & Finance
  8.4.1.8. Misc.
8.5. Middle East & Africa Enterprise Asset Management Market Outlook, by Deployment Mode, Value (US$ Mn), 2019 - 2030
  8.5.1. Key Highlights
  8.5.1.1. Cloud
  8.5.1.2. On-premises
8.6. Middle East & Africa Enterprise Asset Management Market Outlook, by Country, Value (US$ Mn), 2019 - 2030
  8.6.1. Key Highlights
  8.6.1.1. GCC
  8.6.1.2. South Africa
  8.6.1.3. Rest of Middle East & Africa
  8.6.2. BPS Analysis/Market Attractiveness Analysis

9. Competitive Landscape
9.1. Company Market Share Analysis, 2021
9.2. Competition Matrix (By Tier and Size of companies)
9.3. Strategic Collaborations
  9.3.1. Joint Ventures
  9.3.2. Mergers & Acquisitions
9.4. Company Profiles
  9.4.1. IBM Corporation
  9.4.1.1. Company Overview
  9.4.1.2. Product Portfolio
  9.4.1.3. Financial Overview
  9.4.1.4. Business Strategies and Development
(*Note: Above details would be available for below list of companies based on availability)
  9.4.2. Oracle
  9.4.3. Aveva Group Plc
  9.4.4. Bently Systems
  9.4.5. Ramco Systems
  9.4.6. IFS AB
  9.4.7. Aspen Technology Inc.
  9.4.8. DNV GL A/S
  9.4.9. SAP SE
  9.4.10. SAS Institute Inc.
  9.4.11. IPS Energy

10. Appendix
10.1. Acronyms and Abbreviations
10.2. Research Scope & Assumptions
10.3. Research Methodology and Information Sources

Enterprise Asset Management Market

Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2023-2030 - By Product, Technology, Grade, Application, End-user, Region: (North America, Europe, Asia Pacific, Latin America and Middle East and Africa)

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