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.
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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.
EAM can be used to manage any type of physical asset, including but not limited to: Buildings, Infrastructure, Manufacturing equipment, -Transportation equipment, IT assets etc.
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
The Enterprise Asset Management Market is segmented into services, organization size, software application, end-user industry, and region. By services, the market is divided into managed service, training and support service, and implementation service. Based on the organization size the market is bifurcated into small and medium enterprises (SMEs) and large enterprises. By software application, it is categorized as assets MRO, non-linear assets, linear assets, and field service management. Whereas on the basis of the end-user industry, it is segmented into BFSI, healthcare, government and utilities, oil and gas, retail, transportation, and others. Region-Wise the market is segmented by North America, Europe, Asia-Pacific, and the rest of the world.
Key Players
The Enterprise Asset Management Market report includes players such as Check Point Software Technologies (Israel), F-Secure (Finland), IBM Corporation (US), Microsoft Corporation (US), Oracle Corporation (US), Palo Alto Networks Inc. (US), Trend Micro Incorporated (Japan), Symantec (US), McAfee (US), and Sophos (United Kingdom), among others.
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Reasons to buy Enterprise Asset Management Market Report:
• Develop comprehensive understanding of market landscape – industry structure, value-chain, key players, trends, drivers, and challenges
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• Refine your business plans by understanding impact of disruptions such as Covid-19 and Russia-Ukraine conflict on the market
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