Enterprise Asset Management Market Value To Exceed $ 21,471.3 Million In Revenue By 2030, Says P&S Intelligence

NEW YORK, November 17, 2021 / PRNewswire / – The World enterprise asset management market The value of 2030 will probably be $ 21,471.3 million, passing $ 5,682.1 million in 2020 at a CAGR of 14.2% between 2020 and 2030. This will mainly be due to the fact that the EAM helps reduce O&M costs and increase Return on Assets (ROA). This is done by tracking operations, using advanced maintenance solutions for effective equipment control, reducing equipment procurement costs, and providing a better understanding of capital investment decisions.

EAM includes solutions for asset lifecycle management, work order management, inventory management, workforce management, facilities management, predictive maintenance, as well as Reporting and analysis, which increase employee productivity, prevent unplanned system failures (thereby minimizing maintenance costs) and provide a better return on investment (ROI). This is why after initially not spending on such solutions during the COVID-19 pandemic, companies are now doing so.

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Key Findings of the Global Enterprise Asset Management Market Report

  • The demand for EAM integration and deployment, consulting, training, monitoring and upgrade services will increase rapidly in the years to come.
  • Due to the wide range of assets they own and their improved financial stability, large companies have so far contributed the highest revenues to players in the enterprise asset management market.
  • Going forward, the preference for cloud-based EAM solutions will grow faster with increasing demand for anytime, anywhere data access, scalability, and reduced IT spend.
  • The manufacturing sector is the largest user of EAM solutions as it encompasses a large number of factories, workers, warehouses and machinery.
  • The demand for solutions will grow fastest in Asia Pacific (APAC) in the coming years due to the rapid digitization of regional industries and the development of IT infrastructure.
  • The market is fragmented because it is characterized by a large number of players.

The leading 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 they all have a global presence, competition in the market is tough, which is why they engage in mergers and acquisitions and launch new ones. EAM solutions.

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

Additionally, since many of these companies are based in the United States, North America is poised to dominate the enterprise asset management market throughout this decade. Other key reasons for the massive adoption of these solutions in the region are its developed IT infrastructure, its extremely productive manufacturing industry, and the focus by US and Canadian companies on optimal asset utilization, predictive maintenance and effective supply chain management (SCM).

Segmentation of the enterprise asset management market

Based on offer

  • Solution
    • Asset lifecycle management
    • Inventory management
    • Management of work orders
    • Workforce management
    • Predictive maintenance
    • Facility management
    • Reports and analyzes
  • Service

Company-based

  • Large companies
  • Small and medium-sized enterprises (SMEs)

Based on deployment

Vertical based

  • Energy and utilities
  • Manufacturing
  • Health and Life Sciences
  • Transport and logistics
  • Information Technology (IT) and Telecom
  • Government and Defense
  • Oil and gas

Geographic analysis

  • North America
  • Europe
    • Germany
    • France
    • UK
    • Italy
    • Spain
  • Asia Pacific (APAC)
    • Japan
    • China
    • India
    • Australia
    • South Korea
  • Latin America (LATAM)
  • Middle East and Africa (AEM)
    • Saudi Arabia
    • United Arab Emirates
    • Turkey
    • South Africa

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