Dublin, Dec. 29, 2021 (GLOBE NEWSWIRE) -- The "Enterprise Asset Management Market Research Report - Global Industry Analysis and Growth Forecast to 2030" report has been added to ResearchAndMarkets.com's offering.
The global enterprise asset management market 2030 value will likely be $21,471.3 million, growing from $5,682.1 million in 2020 at a 14.2% CAGR between 2020 and 2030.
This will majorly be because EAM helps in reducing operational and maintenance costs and increasing the return on assets (ROA). This is done by tracking operations, using advanced maintenance solutions for effective equipment control, decreasing material procurement costs, and offering better insights into capital investment decisions.
EAM includes solutions for asset lifecycle management, work order management, inventory management, labor management, facility management, predictive maintenance, and reporting and analytics, which increase the productivity of employees, prevent unplanned system breakdowns (thereby minimizing maintenance costs), and offer a better return on investments (ROI). This is why after initially not spending on such solutions during the COVID-19 pandemic, companies are now.
The demand for EAM integration & deployment, consulting, training, and monitoring & upgradation services will rise fast in the coming years.
Due to the wide array of assets they own and their better financial stability, large enterprises have contributed the higher revenue to enterprise asset management market players till now.
In the future, the preference for cloud-based EAM solutions will rise faster with the increasing demand for anytime, anywhere data access, scalability, and reduced IT expenses.
The manufacturing sector is the largest user of EAM solutions because it encompasses a large number of factories, laborers, warehouses, and machines.
The major 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 all of them have a global presence, the market competition is stiff, which is why they are engaging in mergers & acquisitions and launching new EAM solutions.
Moreover, since many of these companies are based in the U.S., North America is set to dominate the enterprise asset management market throughout this decade. Other key reasons for the high adoption of these solutions in the region are its developed IT infrastructure, hugely productive manufacturing industry, and strong focus of U.S. and Canadian companies on optimum asset utilization, predictive maintenance, and effective supply chain management (SCM).
Key Topics Covered
Chapter 1. Research Background
Chapter 2. Research Methodology
Chapter 3. Executive Summary
3.1 Voice of Industry Experts/KOLs
Chapter 4. Introduction
4.1 Definition of Market Segments
4.1.1 By Offering
4.1.1.1 Solution
4.1.1.1.1 Asset Lifecycle Management
4.1.1.1.2 Inventory Management
4.1.1.1.3 Work Order Management
4.1.1.1.4 Labor Management
4.1.1.1.5 Predictive Maintenance
4.1.1.1.6 Facility Management
4.1.1.1.7 Reporting and Analytics
4.1.1.2 Service
4.1.1.2.1 Professional
4.1.1.2.2 Managed
4.1.2 By Deployment
4.1.2.1 On-Premises
4.1.2.2 Cloud
4.1.3 By Enterprise
4.1.3.1 SMEs
4.1.3.2 Large Enterprises
4.1.4 By Vertical
4.1.4.1 Government and Defense
4.1.4.2 Oil and Gas
4.1.4.3 Healthcare and Life Sciences
4.1.4.4 Transportation and Logistics
4.1.4.5 Manufacturing
4.1.4.6 Energy and Utilities
4.1.4.7 IT and Telecom
4.1.4.8 Others
4.2 Value Chain Analysis
4.2.1 Software Designers and Integrators
4.2.2 Software Integrators
4.2.3 Service Providers
4.2.4 End-users
4.3 Market Dynamics
4.3.1 Trends
4.3.1.1 Integration of Internet of Things (IoT) With EAM Solutions
4.3.1.2 Inclination Toward Cloud-Based EAM
4.3.1.3 Significant Demand for Real-Time Data and Analysis
4.3.2 Drivers
4.3.2.1 Growing Need for Reduction of Maintenance and Procurement Expenses
4.3.2.2 Increasing Adoption of EAM for Effective Utilization of Assets
4.3.2.3 Improved ROA
4.3.2.4 Impact Analysis of Drivers on Market Forecast
4.3.3 Restraints
4.3.3.1 High Implementation Cost for SMEs
4.3.3.2 Impact Analysis of Restraints on Market Forecast
4.3.4 Opportunities
4.3.4.1 Integration of Artificial Intelligence (AI) and Drones With EAM
4.4 Impact of COVID-19 on EAM Market
4.4.1 Future Scenario
4.5 Porter's Five Forces Analysis
4.5.1 Bargaining Power of Buyers
4.5.2 Bargaining Power of Suppliers
4.5.3 Intensity of Rivalry
4.5.4 Threat of New Entrants
4.5.5 Threat of Substitutes
Chapter 5. Global Market Size and Forecast
5.1 By Offering
5.1.1 Solution, by Type
5.1.2 Service, by Type
5.2 By Enterprise
5.3 By Deployment
5.4 By Vertical
5.5 By Region
Chapter 6. North America Market Size and Forecast
Chapter 7. Europe Market Size and Forecast
Chapter 8. APAC Market Size and Forecast
Chapter 9. LATAM Market Size and Forecast
Chapter 10. MEA Market Size and Forecast
Chapter 11. Major Countries
Chapter 12. Competitive Landscape
12.1 List of Players and Their Offerings
12.2 Market Share Analysis of Key Players
12.3 Benchmarking Analysis of Key Players
12.4 Strategic Developments in the Market
12.4.1 Mergers and Acquisitions
12.4.2 Product Launches
12.4.3 Partnerships
12.4.4 Client Wins
12.4.5 Other Developments
Chapter 13. Company Profiles
13.1 Oracle Corporation
13.1.1 Business Overview
13.1.2 Product and Service Offerings
13.1.3 Key Financial Summary
13.2 SAP SE
13.3 IBM Corporation
13.5 ABB Ltd.
13.6 Industrial and Financial Systems (IFS) AB
13.7 MRI Software LLC
13.8 CGI Inc.
13.9 Infor Inc.
13.10 Ramco Systems Limited
13.11 Rockwell Automation Inc.
13.13 Assetworks LLC
13.14 Upkeep Technologies Inc.
13.15 Ultimo Software Solutions BV
13.16 Maintenance Connection LLC
13.17 Emaint Enterprises LLC
13.18 Datamax Software Group Inc.
For more information about this report visit https://www.researchandmarkets.com/r/ol6ysk
