Enterprise Asset Management Market Value to Cross $21,471.3 Million Revenue by 2030, says P&S Intelligence

NEW YORK, Nov. 17, 2021 /PRNewswire/ -- The global enterprise asset management market 2030 value will likely be $21,471.3 million, growing from $5,682.1 million in 2020 at a 14.2% CAGR between 2020 and 2030. This will majorly be because EAM helps in reducing operational and maintenance costs and increasing the return on assets (ROA). This is done by tracking operations, using advanced maintenance solutions for effective equipment control, decreasing material procurement costs, and offering better insights into capital investment decisions.

EAM includes solutions for asset lifecycle management, work order management, inventory management, labor management, facility management, predictive maintenance, and reporting and analytics, which increase the productivity of employees, prevent unplanned system breakdowns (thereby minimizing maintenance costs), and offer a better return on investments (ROI). This is why after initially not spending on such solutions during the COVID-19 pandemic, companies are now.

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Key Findings of Global Enterprise Asset Management Market Report

• The demand for EAM integration & deployment, consulting, training, and monitoring & upgradation services will rise fast in the coming years.
• Due to the wide array of assets they own and their better financial stability, large enterprises have contributed the higher revenue to enterprise asset management market players till now.
• In the future, the preference for cloud-based EAM solutions will rise faster with the increasing demand for anytime, anywhere data access, scalability, and reduced IT expenses.
• The manufacturing sector is the largest user of EAM solutions because it encompasses a large number of factories, laborers, warehouses, and machines.
• Solution demand will grow the fastest in Asia-Pacific (APAC) in the years to come due to the rapid digitization of regional industries and development of IT infrastructure.
• The market is fragmented as it is characterized by a large number of players.

The major companies in the enterprise asset management market are Oracle Corporation, IBM Corporation, SAP SE, Schneider Electric SE, Industrial and Financial Services (IFS) AB, ABB Ltd., MRI Software LLC, Infor Inc., CGI Inc., Ramco Systems Limited, Bentley Systems Incorporated, and Rockwell Automation Inc. Since all of them have a global presence, the market competition is stiff, which is why they are engaging in mergers & acquisitions and launching new EAM solutions.

Browse detailed report on Enterprise Asset Management Market Size, Share and Growth Forecast to 2030

Moreover, since many of these companies are based in the U.S., North America is set to dominate the enterprise asset management market throughout this decade. Other key reasons for the high adoption of these solutions in the region are its developed IT infrastructure, hugely productive manufacturing industry, and strong focus of U.S. and Canadian companies on optimum asset utilization, predictive maintenance, and effective supply chain management (SCM).

Enterprise Asset Management Market Segmentation

Based on Offering

• Solution
• Asset lifecycle management
• Inventory management
• Work order management
• Labor management
• Predictive maintenance
• Facility management
• Reporting and analytics
• Service
• Professional
• Managed

Based on Enterprise

• Large Enterprises
• Small and Medium Enterprises (SMEs)

Based on Deployment

• On-Premises
• Cloud

Based on Vertical

• Energy and Utilities
• Manufacturing
• Healthcare and Life Sciences
• Transportation and Logistics
• Information Technology (IT) and Telecom
• Government and Defense
• Oil and Gas

Geographical Analysis

• North America
• U.S.
• Canada
• Europe
• Germany
• France
• U.K.
• Italy
• Spain
• Asia-Pacific (APAC)
• Japan
• China
• India
• Australia
• South Korea
• Latin America (LATAM)
• Brazil
• Mexico
• Middle East and Africa (MEA)
• Saudi Arabia
• U.A.E.
• Turkey
• South Africa

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SOURCE P&S Intelligence