According to IMARC Group’s latest research report, titled “Enterprise Asset Management Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” offers a comprehensive analysis of the industry, which comprises insights on the enterprise asset management market size. The report also includes competitor and regional analysis, and contemporary advancements in the market. The global enterprise asset management market size reached US$ 5.15 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 9.74 Billion by 2028, exhibiting a growth rate (CAGR) of 10.4% during 2023-2028.
Enterprise Asset Management Market Overview:
Enterprise asset management (EAM) is a of managing and optimizing an organization's physical assets throughout its lifecycle. It involves the systematic tracking, maintenance, and utilization of assets to ensure they deliver maximum value and performance. It includes features such as asset tracking, work order management, preventive maintenance scheduling, inventory management, and reporting analytics. It encompasses a wide range of assets, including machinery, equipment, vehicles, facilities, and infrastructure. The primary goal of EAM is to improve operational efficiency, reduce costs, and enhance asset performance and reliability. It enables organizations to make informed decisions regarding asset acquisition, utilization, maintenance, and disposal. It also enables organizations to align their asset management strategies with overall business goals and achieve greater operational excellence.
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Enterprise Asset Management Market Trends:
The increasing adoption of EAM in small and medium-scale enterprises (SMEs) to enhance operational activities is driving the global market. Moreover, the widespread adoption of wide technologies, such as the Internet of Things, artificial intelligence, and cloud computing, is providing a boost to the market as it enables real-time asset tracking, predictive maintenance, and data-driven decision-making. Besides, the increasing focus on data-driven insights and analytics is propelling the EAM market as it empowers them to make data-informed decisions, optimize asset lifecycles, and improve overall business outcomes. Additionally, the increasing focus on asset performance is acting as another growth-inducing factor as the solutions enable proactive maintenance strategies, including preventive and predictive maintenance, to minimize unplanned downtime and maximize asset uptime.
Key Market Segmentation:
Competitive Landscape with Key Players:
Aptean Inc.
Asset Infinity
Asset Panda
AVEVA Group plc (Schneider Electric SE)
IFS AB
International Business Machines Corporation
IPS Intelligent Process Solutions GmbH
SAP SE
UpKeep Technologies Inc.
Component Insights:
Solution
Services
Deployment Insights:
On-premises
Cloud-based
Application Insights:
Asset Lifecycle Management
Inventory Management
Work Order Management
Labor Management
Predictive Maintenance
Others
Industry Vertical Insights:
Manufacturing
Transportation and Logistics
Government
IT and Telecommunications
Energy and Utilities
Healthcare
Education
Others
Breakup by Region:
North America (United States, Canada)
Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
Europe (Germany, France, United Kingdom, Italy, Spain, Others)
Latin America (Brazil, Mexico, Others)
Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key Highlights of the Report:
Market Performance
Market Outlook
Porter’s Five Forces Analysis
Market Drivers and Success Factors
SWOT Analysis
Value Chain
Comprehensive Mapping of the Competitive Landscape
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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