Ottawa, Jan. 08, 2024 (GLOBE NEWSWIRE) -- The global enterprise asset management market size is accounted for USD 5.12 billion in 2024, and grew to USD 5.66 billion in 2025, According to Precedence Research.
The enterprise asset management market is driven by the rising use of cutting-edge technology like analytics, IoT, and AI and the increased emphasis on sustainability.
The U.S. enterprise asset management market size was valued at USD 804.39 million in 2022 and is projected to reach around USD 1,915.62 million by 2032, growing at a double-digit CAGR of 10.8% from 2023 to 2032.
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The North America enterprise asset management market size is estimated to grow from USD 1,508.13 million in 2023 to reach USD 3,689.97 million by 2032, expanding at a remarkable CAGR of 10.5% from 2023 to 2032.
The Europe microchips market size was valued at USD 1,362.91 million in 2023 and is projected to hit around USD 3,488.21 million by 2032, registering a CAGR of 11% from 2023 to 2032.
The Asia Pacific microchips market size surpassed USD 1,114.77 million in 2023 and is expected to reach around USD 2,957.30 million by 2032, registering a CAGR of 11.4% from 2023 to 2032.
The LAMEA microchips market size was estimated at USD 653.78 million in 2023 and is anticipated to touch around USD 1,527.44 million by 2032, registering a CAGR of 9.9% from 2023 to 2032.
Global Enterprise Asset Management Market, by Component ($ Million)
| Component | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
| Solutions | 2,118.94 | 2,340.60 | 2,587.31 | 2,862.10 | 3,168.25 | 3,509.55 |
| Services | 1,336.61 | 1,468.80 | 1,615.22 | 1,777.49 | 1,957.37 | 2,156.90 |
Global Enterprise Asset Management Market, by Deployment ($ Million)
| Deployment | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
| Cloud-Based | 1,991.09 | 2,203.76 | 2,440.91 | 2,705.54 | 3,000.92 | 3,330.83 |
| On-Premise | 1,464.46 | 1,605.64 | 1,761.62 | 1,934.05 | 2,124.70 | 2,335.62 |
Global Enterprise Asset Management Market, by Organization Size ($ Million)
| Organization Size | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
| Large Enterprises | 2,052.60 | 2,258.26 | 2,486.33 | 2,739.42 | 3,020.33 | 3,332.35 |
| SMEs | 1,402.95 | 1,551.14 | 1,716.20 | 1,900.18 | 2,105.28 | 2,334.10 |
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The holistic strategy of managing a company's physical assets throughout its existence is known as enterprise asset management or EAM. This covers every process step, from purchasing and planning to using and maintaining it until its eventual replacement or disposal. Implementing EAM is frequently done through specialized software platforms that manage inventory control, work order management, asset tracking, and data analysis, among other things.
Manufacturers can maximize production lines, reduce downtime, and guarantee product quality using EAM. It enables utilities to oversee vital infrastructure, like distribution networks and power plants, ensuring dependable service and energy economy. In addition, it helps hospitals and other healthcare facilities track patient assets, manage medical equipment, and maintain regulatory compliance. It aids in fleet maintenance and logistical optimization for airlines, shipping firms, and other transportation providers.
For instance, in July 2023, leading global provider of asset management solutions, BPD Zenith, announced the acquisition of Peacock Engineering Limited, an expert in enterprise asset management (EAM) with an emphasis on mobility and managed cloud.
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Key Insights
- The solution segment is expected to dominate the market share over the forecast period.
- The on-premises segment is expected to dominate the market during the forecast period.
- The large-scale enterprises segment is expected to dominate the market during the forecast period.
- The asset lifecycle management segment is expected to capture a majority of the market share over the forecast period.
- The energy & utilities segment is expected to dominate market share during the analysis period.
Global Enterprise Asset Management Market, by Regions ($ Million)
| Regions | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
| North America | 1,133.42 | 1,245.73 | 1,370.17 | 1,508.13 | 1,661.12 | 1,830.88 |
| Europe | 1,009.02 | 1,114.57 | 1,232.05 | 1,362.91 | 1,508.69 | 1,671.22 |
| Asia Pacific | 815.51 | 904.41 | 1,003.73 | 1,114.77 | 1,238.94 | 1,377.89 |
| LAMEA | 497.60 | 544.68 | 596.57 | 653.78 | 716.87 | 786.47 |
North America is expected to have the majority of the market share in enterprise asset management over the forecast period. North America has led the way in technological innovation, with numerous businesses implementing enterprise resource management (EAM) systems to improve productivity and optimize asset management procedures. Because of its significant industrial base, which includes manufacturing, energy, and utilities, it requires robust EAM systems to manage a wide range of assets. Adopting enterprise asset management (EAM) solutions for compliance and risk management is driven by strict regulatory requirements in the energy, transportation, and healthcare sectors. The need for EAM solutions has been further fueled by increased investments in technology and infrastructure due to North America's general economic expansion.
For instance, in November 2022, the infrastructure engineering software company Bentley Systems, Incorporated, announced that it had acquired Vetasi. This top international consultant specializes in enterprise asset management (EAM) solutions, heavily emphasizing IBM Maximo through its Cohesive Group digital integrator division.
Enterprise Asset Management Market Report Scope:
| Report Coverage | Details | |
| CAGR 2023-2032 | 10.8 | % |
| Global Market Size in 2023 | USD 4.63 Billion | |
| Global Market Size by 2032 | USD 11.66 Billion | |
| U.S. Market Size in 2023 | USD 0.8 Billion | |
| U.S. Market Size by 2032 | USD 1.91 Billion | |
| Base Year | 2022 | |
| Forecast Period | 2023 to 2032 | |
| Segments Covered | Component, Application, Organization, Deployment, End User, and Geography | |
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Highlights of Enterprise Asset Management Market
Component insights
- The solution segment was valued at USD 2,587.31 million in 2022 and is expected to reach around USD 7,325.23 million by 2032, expanding at a CAGR of 11% from 2023 to 2032.
- The services segment was valued at USD 1,615.22 million in 2022 and is projected to surpass around USD 4337.67 million by 2032 with a CAGR of 10.4% from 2023 to 2032.
The solution segment is expected to dominate the enterprise asset management market share over the forecast period. It is due to the growing requirement for effective asset management and the complexity of business operations. Companies in various sectors understand how crucial EAM solutions are to raising overall production, decreasing downtime, and optimizing operational efficiency. Strong and comprehensive EAM solutions are predicted to become increasingly in demand as businesses look to maximize the value of their assets and streamline their operations.
The dominance of the solution category is further attributed to technological breakthroughs like the integration of artificial intelligence and Internet of Things (IoT) devices. These innovations greatly enhance EAM solutions by enabling data-driven decision-making, predictive maintenance, and real-time monitoring.
For instance, in March 2022, Aptean EAM is a brand-new cloud-based enterprise asset management, or EAM, solution designed for manufacturing and other industries that rely on complicated equipment to support production. Aptean is an international supplier of mission-critical enterprise software solutions.
Deployment insights
- Cloud-Based segment was valued at USD 2,440.91 million in 2022 and is estimated to be worth around USD 7,049.93 million by 2032, expanding at a CAGR of 11.2% from 2023 to 2032.
- The on-Premise segment was estimated at USD 1,761.62 million in 2022 and is projected to reach around USD 4,612.98 million by 2032, expanding at a CAGR of 10.1% from 2023 to 2032.
The on-premises segment is expected to dominate the market during the forecast period. The segment expansion is attributed due to the issues with compliance, control, and data security. Businesses may directly oversee and control their EAM systems when they deploy on-premises, which enables them to comply with legal and security standards.
Moreover, on-premises solutions are frequently chosen by sectors with sensitive or vital data, including healthcare, banking, and government, to guarantee optimal control over their resources and data. With the great degree of customization offered by the on-premises architecture, businesses may easily integrate EAM systems with their current infrastructure and customize them to meet their unique needs.
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Organization insights
- The large Enterprises segment was valued at USD 2,486.33 million in 2022 and is estimated to be worth around USD 6,763.32 million by 2032, expanding at a CAGR of 10.6% from 2023 to 2032.
- SME segment was estimated at USD 1,716.20 million in 2022 and is projected to reach around USD 4,899.59 million by 2032, expanding at a CAGR of 11.1% from 2023 to 2032.
The large-scale enterprises segment is expected to dominate the enterprise asset management market share over the forecast period. Large businesses usually have vast and varied asset portfolios, including buildings, machinery, equipment, and technology infrastructure. Sophisticated EAM solutions that can manage intricate workflows, maintenance schedules, and data analytics are required to manage such a large variety of assets.
Furthermore, centralized and standardized asset management procedures are necessary for large organizations because they frequently operate across several locations or business divisions. EAM systems offer a centralized platform to automate these tasks, guaranteeing efficiency and uniformity throughout the company.
Application Insights
The asset lifecycle management segment is expected to capture a majority of the market share over the forecast period. This is because of its all-encompassing approach to asset management across their life cycle. This entails organizing, obtaining, employing, managing, and getting methodically rid of assets. ALM offers businesses a comprehensive way to maximize asset performance, cut expenses associated with running their business, and boost productivity. Strong asset lifecycle management solutions are projected to become more in demand as companies realize how important it is to maximize the value of their assets, making this market sector a significant participant.
For instance, in December 2022, the most recent iteration of Hexagon's industry-leading SaaS-based Enterprise Asset Management platform, HxGN EAM v12, was released, according to the company's Asset Lifecycle Intelligence business. It gives more capabilities to HxGN EAM Digital Work Mobile, expands the functionality of all product areas, and allows for the calculation and visualization of Asset Investment Planning (AIP) with EcoSysTM. Additionally, it expands the Asset Performance Management (APM) section with features related to Root Cause Analysis (RCA).
End-user Insights
The energy & utilities segment is expected to dominate the enterprise asset management market share over the forecast period. The asset portfolios of energy and utility firms are usually vast and complicated, consisting of equipment, distribution networks, and power-producing facilities. Sustaining ongoing operations requires effective management of these numerous and vital assets. Energy and utility infrastructure reliability is essential to the economy and public safety. By offering real-time data on asset health, facilitating proactive maintenance, and lowering the possibility of failures, EAM systems assist in identifying and mitigating risks.
Market Dynamics
Driver: Convergence of artificial intelligence (AI), the Internet of Things (IoT), and analytics
The convergence of artificial intelligence (AI), the Internet of Things (IoT), and analytics is driving the enterprise asset management market as artificial intelligence (AI) facilitates sophisticated machine learning and predictive analytics algorithms to examine past data, spot trends, and anticipate possible asset problems. Automating decision-making procedures makes it possible to respond to maintenance requirements more quickly and accurately, decreasing downtime and increasing asset reliability overall. Real-time data collection on asset performance, health, and consumption trends is made possible by the Internet of Things (IoT), which links physical assets through sensors and devices.
IoT integration improves resource allocation and operational efficiency by enhancing asset tracking, monitoring, and control. Analytics gathers, organizes, and evaluates the massive amounts of data IoT and AI produce to derive actionable insights. Analytics makes it possible to turn information into actionable intelligence, which helps with strategic planning and well-informed decision-making for asset management.
Restraint: Complexity of integrating multiple systems and data sources
Companies usually use a combination of off-the-shelf software, custom apps, and legacy systems. It might be challenging to achieve seamless connectivity because each component might have different data models, APIs, and integration requirements. It's necessary to build many systems with accessible communication between them. Data flow across systems may need to be improved by the absence of defined interfaces and interoperability standards, necessitating sophisticated middleware and specialized development work. Information flow can be impeded by business procedures and workflows that need to be aligned across systems. Integration difficulty increases because reconciling and aligning various processes frequently requires meticulous examination and corrections.
Opportunity: AI-powered predictive maintenance for aging infrastructure
Predictive maintenance saves money for businesses by seeing possible problems before they become expensive breakdowns. Artificial intelligence (AI) systems examine past data, sensor inputs, and other pertinent information to forecast when maintenance is needed, enabling prompt and economical interventions. Preventive maintenance enhances the dependability and safety of ageing infrastructure by averting unanticipated malfunctions. This is especially important for vital infrastructure, such as power plants, bridges, and transportation networks, where malfunctions can have disastrous effects.
AI makes it possible to monitor and analyze infrastructure issues in real-time. By taking a proactive stance, unplanned downtime is reduced, asset performance is enhanced, and operational efficiency is raised. Companies can keep their workflow smooth by handling problems before they affect operations.
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Recent Developments
- In October 2023, A global pioneer in contemporary, cloud-based linked workplace and enterprise asset management solutions and products, Nuvolo is a worldwide leader in the market. Today, Trane Technologies, a global innovation in climate change, announced that it has finalized a deal to buy Nuvolo.
- In October 2022, Oracle unveiled a new asset-based service option for the Oracle Fusion Cloud Applications Suite. Optimizing the asset's service lifecycle management will assist organizations in growing revenues, decreasing expenses, and improving customer satisfaction.
- In September 2022, to support businesses in fostering innovation and achieving their goals for digital growth, IBM revealed plans to purchase Dialexa, a top provider of digital engineering services for products in the United States. The acquisition is anticipated to expand IBM's knowledge in product engineering and enable the company to provide clients with full-service digital transformation solutions.
Market Key Players
- Assetworks
- Ultimo Software Solutions
- UpKeep
- Asset Panda
- EZOfficeInventory
- Intelligent Process Solutions
- Maintenance Connection
- Aveva
- IBM
- SAP
- Oracle
- Infor
- IFS
- ABB
- CGI
- Rfgen Software
- Aptean
- Emanit
- EZMaintain.com
- Pazo
- TrackX
- Cheqroom
- The Asset Guardian
- GoCodes
- Asset Infinity
- KloudGin
- Fracttal
- InnoMaint Software
- Aladinme
- Limble
- Redlist
Market Segmentation
By Component
- Solutions
- Asset Lifecycle Management
- Predictive Maintenance
- Work Order Management
- Labor Management
- Facility Management
- Inventory Management
- Services
- Professional Service
- Managed Service
By Application
- Asset lifecycle management
- Labor management
- Inventory management
- Predictive maintenance
- Work order management
- Others
By Organization
- Large enterprises
- Small and medium enterprises
By Deployment
- Cloud
- On-premises
By End user
- Healthcare
- Energy and utilities
- Government and defense
- Automotive and Transportation
- Manufacturing
- Retail
- IT and telecom
- BFSI
By Geography
- North America
- Europe
- Asia-Pacific
- Latin America
- Middle East & Africa (MEA)
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