According to a new market research report published by Global Insight Services “Enterprise Asset Management Market is expected to reach US$ XX bn by 2031”. Report includes in-depth segmentation and market size data by categories, product types, applications, and geographies. Report also includes comprehensive analysis of key issues, trends and drivers, restraints and challenges, competitive landscape, as well as recent events such as M&A activities in the market.
Enterprise Asset Management (EAM) is a comprehensive approach to managing physical assets throughout their entire lifecycles. The goal of EAM is to optimize performance and minimize costs by maximizing the value of assets and minimizing their downtime.
EAM systems track and manage data related to an asset throughout its lifecycle, from acquisition and installation to retirement and disposal. This data includes asset location, condition, maintenance history, and financial information. EAM systems help organizations make better decisions about when to repair, replace, or retire assets.
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Key Players
- ABB
- Oracle
- SAP
- Schneider Electric
- IFS
- IBM
- Infor
- AssetsWorks
Key Trends
There are several key trends in Enterprise Asset Management (EAM) technology. One is the move towards cloud-based solutions. This means that instead of having a server in-house that needs to be maintained, companies are using cloud-based solutions that are managed by a third party. This can save on IT costs and make it easier to scale the solution as needed.
Another key trend is the use of mobile devices for asset management. This means that workers can use their smartphones or tablets to access asset information and perform tasks such as asset tracking and maintenance. This can improve worker productivity and make it easier to manage assets in the field.
Finally, there is a trend towards integrating EAM solutions with other business systems. For example, some companies are integrating their EAM solution with their enterprise resource planning (ERP) system. This can improve data accuracy and make it easier to track assets across the organization.
Key Drivers
There are a number of key drivers of the Enterprise Asset Management (EAM) market. Firstly, there is an increasing need for organizations to better manage their physical assets, in order to improve operational efficiency and reduce costs. Secondly, there is a growing awareness of the benefits of EAM, as organizations recognize the potential for improving asset utilization and reducing downtime. Thirdly, there is a trend towards the use of mobile and cloud-based EAM solutions, as these offer greater flexibility and scalability. Finally, there is an increasing focus on sustainability, as organizations look to reduce their environmental impact and improve their social and ethical performance.
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Market Segments
By Services
- Managed Service
- Training and Support Service
- Implementation Service
By Organization Size
- Small and Medium Enterprises (SMEs)
- Large Enterprises
By Software Application
- Assets MRO
- Non-Linear Assets
- Linear Assets
- Field Service Management
By End-Use Industry
- BFSI
- Healthcare
- Government and Utilities
- Oil and Gas
- Retail
- Transportation
- Others
Reasons to buy Enterprise Asset Management Market Report:
- Develop comprehensive understanding of market landscape – industry structure, value-chain, key players, trends, drivers, and challenges
- Drive revenue and market-entry strategy by gaining insights into which segments and geographies are largest and likely to grow fastest
- Formulate sales and marketing strategies by gaining understanding of competitors, their positioning, and strengths & weaknesses
- Develop business and M&A strategies through understanding of latest trends and emerging players in the market
- Refine your business plans by understanding impact of disruptions such as Covid-19 and Russia-Ukraine conflict on the market
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Key Questions answered in the report:
- How is the market structured and what the key drivers and trends of this industry?
- How is the market segmented and what is the size of each segment?
- Which segments and geographies provide best growth opportunities?
- What’s the competitive landscape and positioning of players in this market?
- What is the impact of latest events such as Covid-19 and Russia-Ukraine conflict on the market?
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