LONDON, Aug. 24, 2022 (GLOBE NEWSWIRE) -- According to The Business Research Company’s research report on the enterprise asset management market, rising demand for SaaS-based EAM solutions is driving the growth of the market. SaaS-based EAM services are a cloud-based software service that helps vendors provide applications via a subscription-based model. These solutions have become a basic fundamental in the technology world for dashboards, mobile apps, asset tracking, performance management, forecasting, and regulatory compliance. Customers are increasingly investing in SaaS-based solutions over traditional on-premise solutions owing to various factors such as reduced time to benefit, lower costs, scalability and integration, and others. For instance, according to the study published on DevSquad in 2022, 73% of businesses are switching all systems to SaaS and the companies are planning to increase their spending by 44% from the previous year.
Request for a sample of the global enterprise asset management market report
The global enterprise asset management market size is expected to grow from $5.21 billion in 2021 to $5.81 billion in 2022 at a compound annual growth rate (CAGR) of 11.4%. The global enterprise asset management market share is expected to grow to $8.98 billion in 2026 at a CAGR of 11.5%.
Technological advancements are gaining popularity in the enterprise asset management industry trends. Major companies in the enterprise asset management market are focusing on expanding their developmental activities into new technologies. For instance, in March 2022, Aptean launched a cloud-based EAM solution, including a computerized maintenance management system for manufacturing customers. Then the new launch will help the customers of small and medium manufacturers meet their asset management requirements and demands.
Major players in the enterprise asset management market are ABB Ltd., CGI Inc., IBM, Infor, Oracle, SAP, Schneider Electric SE, MRI Software LLC, Ramco Systems Limited, Rockwell Automation Inc., Ultimo Software Solutions BV, Upkeep Technologies Inc., Assetworks LLC, Bentley Systems Incorporated, and IFS.
The global enterprise asset management market is segmented by development into on-premise, cloud; by application into asset lifecycle management, inventory management, work order management, labor management, others; by vertical into energy and utilities, transportation and logistics, government and public sector, it and telecommunications, manufacturing, healthcare and life sciences, education, others.
North America was the largest region in the enterprise asset management market in 2021. Asia-Pacific is expected to be the fastest-growing region in the global enterprise asset management market during the forecast period. The regions covered in the global enterprise asset management market analysis are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
Enterprise Asset Management Global Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026 is one of a series of new reports from The Business Research Company that provide enterprise asset management market overviews, analyze and forecast market size and growth for the whole market, enterprise asset management market segments and geographies, enterprise asset management market trends, enterprise asset management market drivers, enterprise asset management market restraints, enterprise asset management market leading competitors’ revenues, profiles and market shares in over 1,000 industry reports, covering over 2,500 market segments and 60 geographies.
The report also gives in-depth analysis of the impact of COVID-19 on the market. The reports draw on 150,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders. A highly experienced and expert team of analysts and modelers provides market analysis and forecasts. The reports identify top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
Not the market you are looking for? Check out some similar market intelligence reports:
Digital Asset Management Global Market Report 2022 – By Type (Solution, Services), By Deployment Type (On-Premises, Cloud), By Enterprise Size (Large Enterprises, Small And Medium-Sized Enterprises (SMEs)) – Market Size, Trends, And Global Forecast 2022-2026
Asset Integrity Management Global Market Report 2022 – By Service Type (Non-Destructive Testing (NDT), Risk-Based Inspection (RBI), Corrosion Management, Pipeline Integrity Management, Hazard Identification (HAZID) Study, Structural Integrity Management), By End Use Industry (Oil And Gas, Power, Mining, Aerospace) – Market Size, Trends, And Global Forecast 2022-2026
Interested to know more about The Business Research Company?
The Business Research Company is a market intelligence firm that excels in company, market, and consumer research. Located globally it has specialist consultants in a wide range of industries including manufacturing, healthcare, financial services, chemicals, and technology.
The World’s Most Comprehensive Database
The Business Research Company’s flagship product, Global Market Model, is a market intelligence platform covering various macroeconomic indicators and metrics across 60 geographies and 27 industries. The Global Market Model covers multi-layered datasets which help its users assess supply-demand gaps.
