Dublin, Feb. 14, 2023 (GLOBE NEWSWIRE) -- The "Enterprise Asset Management Global Market Report 2022" report has been added to ResearchAndMarkets.com's offering.
This report provides strategists, marketers and senior management with the critical information they need to assess the global enterprise asset management market.
The global enterprise asset management market 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 enterprise asset management market is expected to grow to $8.98 billion in 2026 at a CAGR of 11.5%.
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Some 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 enterprise asset management (EAM) market consists of sales of enterprise asset management solutions and services by entities (organizations, sole traders, and partnerships) that refers to software, systems and services, which are used to control and maintain the assets and equipment. EAM is a transactional workflow system designed to manage capital asset management by managing asset data and work processes.
The main types of enterprise asset management are on-premise and cloud. On-premise software is installed on your company's PCs and servers locally. Enterprise asset management has applications in asset lifecycle management, inventory management, work order management, labor management, other applications that is used in energy and utilities, transportation and logistics, government and public sector, IT and telecommunications, manufacturing, healthcare and life sciences, education, and other verticals.
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 forecast period. The regions covered in the enterprise asset management report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Rising demand for SaaS-based EAM solutions is driving the growth of the market. SaaS-based EAM services are a cloud bases 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 compliances.
The customers are increasingly investing in SaaS-based solutions over the 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.
Technological advancement are shaping the enterprise asset management market. Major companies in the enterprise asset management market are focusing on expanding their developmental activities in new technologies.
For instance, in March 2022, Aptean has launched a cloud-based EAM solutions including a computerized maintenance management system for manufacturing customers. Then new launch will help the customers from small and medium manufacturers to meet their asset management requirements and demands.
The countries covered in the enterprise asset management market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Report Metrics:
| Report Attribute | Details |
| No. of Pages | 175 |
| Forecast Period | 2022 - 2026 |
| Estimated Market Value (USD) in 2022 | $5.81 billion |
| Forecasted Market Value (USD) by 2026 | $8.98 billion |
| Compound Annual Growth Rate | 11.5% |
| Regions Covered | Global |
Key Topics Covered:
1. Executive Summary
2. Enterprise Asset Management Market Characteristics
3. Enterprise Asset Management Market Trends And Strategies
4. Impact Of COVID-19 On Enterprise Asset Management
5. Enterprise Asset Management Market Size And Growth
5.1. Global Enterprise Asset Management Historic Market, 2016-2021, $ Billion
5.1.1. Drivers Of The Market
5.1.2. Restraints On The Market
5.2. Global Enterprise Asset Management Forecast Market, 2021-2026F, 2031F, $ Billion
5.2.1. Drivers Of The Market
5.2.2. Restraints On the Market
6. Enterprise Asset Management Market Segmentation
6.1. Global Enterprise Asset Management Market, Segmentation By Development, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
- On premise
- Cloud
6.2. Global Enterprise Asset Management Market, Segmentation By Application, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
- Asset Lifecycle Management
- Inventory Management
- Work Order Management
- Labor Management
- Other Applications
6.3. Global Enterprise Asset Management Market, Segmentation By Vertical, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
- Energy And Utilities
- Transportation And Logistics
- Government And Public Sector
- IT And Telecommunications
- Manufacturing
- Healthcare And Life Sciences
- Education
- Other Verticals
7. Enterprise Asset Management Market Regional And Country Analysis
7.1. Global Enterprise Asset Management Market, Split By Region, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
7.2. Global Enterprise Asset Management Market, Split By Country, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
For more information about this report visit https://www.researchandmarkets.com/r/jjme1z-asset?w=12
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