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Enterprise Asset Management (EAM) Market Forecast by Key Players 2024-2032: IBM, eMaint, Infor, SAP, Oracle, Rockwell Automation Inc
Enterprise Asset Management (EAM) Market
EAM plays a pivotal role in enabling efficient management and utilization of operational assets throughout their lifecycle. It facilitates planning, optimization, and execution to maximize quality, efficiency, and utilization. The adoption of advanced analytics, powered by AI and IoT, empowers maintenance teams to make informed decisions and undertake preventive measures at optimal times, thereby reducing operational expenditures.
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With the proliferation of assets across various sectors including transportation, energy and utilities, manufacturing, and healthcare, there is a pressing need for effective asset management solutions. EAM tools, leveraging AI and Machine Learning (ML), not only identify areas for replacement but also enhance asset lifecycle management, ultimately reducing downtime and extending asset longevity.
While the market presents significant growth opportunities, there are also challenges to overcome. Concerns regarding data inconsistency and cybersecurity threats pose constraints to market expansion. However, proactive measures such as employing white hat hackers for penetration testing can mitigate these risks and bolster data security.
Segment-wise, large-scale enterprises dominate the EAM market, driven by their substantial investments and expansive infrastructure. Meanwhile, the manufacturing sector is poised for rapid growth, fueled by the adoption of Industrial IoT (IIoT) and the industry's transition towards the fourth industrial revolution.
Deployment-wise, on-premise solutions hold a significant revenue share due to their provision of on-spot support and enhanced data confidentiality. However, cloud-based solutions are gaining traction, particularly for optimizing corporate assets and facilitating data-driven decision-making.
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Enterprise Asset Management (EAM) Top Companies and Competitive Landscape
The global EAM market is fairly fragmented, with many large and medium-sized players accounting for the majority of market revenue. Major players are deploying various strategies, entering into mergers & acquisitions, strategic agreements & contracts, developing, testing, and introducing more effective Enterprise Asset Management (EAM) solutions.
Some major players included in the global Enterprise Asset Management (EAM) market report are:
• IBM
• eMaint
• Infor
• SAP
• Oracle
• Rockwell Automation Inc.
• IFS
• Hitachi Ltd.
• Upkeep Technologies, Inc.
• Ramco Systems
Enterprise Asset Management (EAM) Latest Industry News
• On 1 August 2023, Central Square Technologies, an industry leader in public sector technology, announced its partnership with IDS, an engineering consulting and technology provider specializing in decision analytics and infrastructure lifecycle planning. CentralSquare's Enterprise Asset Management (EAM) solution will start to integrate with IDS' Asset Optimizer, allowing agencies to reach beyond maintenance management into comprehensive asset investment planning.
• On 11 April 2023, Trimble launched one of its latest EAM solution, which is designed for global electric utilities to improve service reliability and successful operation. Trimble Unity AMS, built on Trimble's industry leading Cityworks Enterprise Asset Management (EAM) platform, enables utilities to manage the entire lifespan of their asset infrastructure, from permits and construction through operations, maintenance, and replacement.
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Enterprise Asset Management (EAM) Market Segment Analysis
For the purpose of this report, Emergen Research has segmented the global Enterprise Asset Management (EAM) market on the basis of type, organization size, industry verticals, deployment, application, and region:
• Type Outlook (Revenue, USD Billion; 2019-2032)
o Linear assets
o Non-linear assets
o Field service management
o Others
• Organization Size Outlook (Revenue, USD Billion; 2019-2032)
o Small and Medium-Sized Enterprises (SMEs)
o Large scale enterprises
• Industry Vertical Outlook (Revenue, USD Billion; 2019-2032)
o Government
o Information Technology (IT)
o Transportation
o Manufacturing
o Healthcare
o Others
• Deployment Outlook (Revenue, USD Billion; 2019-2032)
o Cloud
o On-premise
• Management Outlook (Revenue, USD Billion; 2019-2032)
o Inventory management
o Predictive maintenance
o Labor management
o Facility management
o Work order management
o Others
• Regional Outlook (Revenue, USD Billion; 2019-2032)
o North America
1. U.S.
2. Canada
3. Mexico
o Europe
1. Germany
2. France
3. UK
4. Italy
5. Spain
6. Benelux
7. Rest of Europe
o Asia Pacific
1. China
2. India
3. Japan
4. South Korea
5. Rest of APAC
o Latin America
1. Brazil
2. Rest of LATAM
o Middle East & Africa
1. Saudi Arabia
2. UAE
3. South Africa
4. Turkey
5. Rest of Middle East & Africa
The global EAM market is on an upward trajectory, propelled by technological innovation and the imperative for efficient asset management across diverse industries. As organizations increasingly recognize the value of EAM in enhancing performance, profitability, and sustainability, the market is poised for dynamic growth in the coming years
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Eric Lee
Corporate Sales Specialist
Emergen Research
Direct Line: +1 (604) 757-9756
E-mail: sales@emergenresearch.com
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About Us:
Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyse consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.
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