Computerized Maintenance Management System (CMMS) Market

2021 Analysis and Review: Computerized Maintenance Management System (CMMS) by Solution – CMMS Software and Service for 2021 – 2031

About the Report

The global computerized maintenance management system (CMMS) market is expected to reach a valuation of US$ 2.75 Mn by 2031. The increasing demand for CMMS software among small and mid-sized businesses and rising adoption of asset monitoring solution in energy and utilities sector are fuelling the demand for CMMS solutions.

A CMMS software enables balancing the resources and maintaining the maintenance costs so that maintenance backlog doesn’t get out of hand. The software captures small repairs that would otherwise go unnoticed and enables maintenance tasks to be properly scheduled, assigned, and prioritized before any major failure occurs.

Within manufacturing plants, every equipment is of a very high cost. If any of these machines or equipment remain idle for a certain period of time, it can impact business operation and profit. CMMS software provides great assistance in manufacturing plants. The software prevents machines & equipment from failure and breakdown. Thus, several large and start-up manufacturing firms are focusing on implementing CMMS software to manage maintenance activities, prevent machine breakdowns, and prepare for future repairs.

In its new study, ESOMAR-certified market research and consulting firm Future Market Insights (FMI) offers insights about key factors driving demand for CMMS solutions. The report tracks the global adoption of CMMS products in 20+ high-growth markets, along with analyzing the impact of COVID-19 on the global adoption of CMMS solutions, along with the pre-COVID and post-COVID market growth analysis.

How Historical & Future Projections for CMMS Market Compare?

Between 2016 and 2020, global CMMS market has registered the CAGR of 8.7%.

Rise in demand for asset monitoring across various industries, including food & beverage, manufacturing, energy and utility, education, transportation, and in retail is expected to propel the growth of CMMS market.

The energy and utility industry is essential to our everyday lives. Organizations along with individuals are highly dependent on electricity and natural gas in their daily work processes. An unexpected malfunction in energy, power and utility plants has the potential to leave thousands of people in total darkness for hours and cause a multimillion dollar loss. The average cost of unplanned downtime in energy, manufacturing, transportation, and other industries runs at US $250,000 per hour or US $2 million per working day.

Frequent monitoring of equipment health is vital for the power and energy industry. Maintenance management in the power and energy industry are taken very seriously to minimize the chances of power outages and maximize electrical output. To keep assets and plants productive, energy and power plants need a strong, robust maintenance management plan to face unique challenges.

CMMS software helps power plants address these challenges. When these systems are fully utilized, it can guide departments toward greater energy efficiency and sustainability. Thus, energy and utility organizations are turning to CMMS to meet all the required maintenance regulations and achieve targeted levels of efficiency, power output, compliance, and safety performance, which is expected to drive the market in coming years.

What is the Impact of Industry 4.0 on CMMS Market?

Internet of Things (IoT) and Industry 4.0 remain much popular subjects. Industry 4.0 encompasses the latest industrial revolution. Artificial intelligence (AI) and IoT has changed the way machines collect and interpret data. The technology is playing a larger role in CMMS. IoT devices are deployed everywhere in a factory, not just on large machinery devices, but also to do things such as temperature, humidity monitoring, and collecting data on other environmental factors.

This massive amount of data generated through IoT devices is fed into a CMMS, and analysis is done to make sure everything is running the way it should. Moreover, predictive analytics is used to peer into the future and see potential issues. The CMMS solutions can then be used to resolve these issues.

CMMS providers are continuously innovating to developing advanced solution to catch up and to adopt their software to this new industry 4.0 technology evolution. Instead of manually collecting data points from several sources separately, the new generation of CMMS will connect many industrial IoT devices like sensors, equipment monitoring software, safety systems, and other digital technologies, then analyze the data and triggering the actions to address the problem.

The combination of CMMS and IoT creates huge opportunities for both IoT manufacturers and CMMS vendors. The combination will make industrial organizations to work smoothly, and help increase productivity and reduce downtime. This can add many millions of dollars to a company’s bottom line.

Harnessing the Power of AI in CMMS

Post the industrial revolution, manufacturers have turned their focus on bulk production, for which they had to manage and organize the thing on industrial scale. This industrial evolution has also increased the demand for solutions that can proactively monitor the maintenance management of plant machineries.

This is where the CMMS (powered with AI) can pick up the slack. Several manufacturers are discovering possible opportunities of predictive and preventative maintenance applications with emergence of Artificial Intelligence (AI) and its capabilities of recognizing temperature, vibration, and other factors from sensors pre-built into machinery and vehicles. Integrating AI in CMMS solutions makes the most of what AI is good at (pattern recognition) and applying it to problems that are complicated for humans to manage on their own.

The AI-enabled CMMS solutions also enable organizations to predict the life of machineries present in the plant. Also, preventative maintenance involves repairing the machinery to keep it working longer. By using the data gathered from the equipment and AI, the CMMS would automatically make adjustments to the maintenance schedules.

What Are the Factors Hampering Adoption of CMMS?

One of the major factors hampering adoption of CMMS is the lack of skilled workforce. The industrial sector has rapidly changed in the past 10 years. Automation and digitization have changed how operators complete their tasks. Prior to introduction of computers and computer programs, maintenance data was recorded with a pencil and paper and stored in special journals.

Using computers and various computer programs presented organizations with potential for organizing their companies work processes and controlling and managing all their business activities, including maintenance management. Nowadays, CMMS packages can be used by any company or organization that needs to perform maintenance activities of their equipment, assets, or property.

However, there is still lack of skilled manufacturing workers. This can be especially true with maintenance technicians. For example, it requires a skilled person to define an equipment hierarchy and create the right maintenance tasks. Some industrial organizations still rely on minimal training and initial preparation. Due to lack of training and skilled workforce, each person working in the maintenance staff ends up developing their own approaches for using the software. This leads to a more complicated and disordered database. The time-saving features for which the organizations has paid for will end up unused. Thus, lack of skilled workforce is considered to be one of the major challenge in the CMMS market.

Reduced Downtime, Cost-Effectiveness, and Increased Productivity Driving Uptake

Within industrial plants, downtime occurs whenever an asset needs to be repaired or inspected. According to a study by ITIC, about 33% of organizations have suffered the loss of US $1- $5 million because of unplanned equipment breakdowns. This isn’t always avoidable. However, if repairs and maintenance are inefficient, it prolongs downtime.

These inefficiencies can add up and cost the facility a lot of time and money in lost production. Thus, several industrial organizations are opting to integrate CMMS to reduce downtime and increase productivity. It can automate and streamline all of important asset management tasks, thus increasing the durability of assets and decreasing the error.

The ultimate goal of using a CMMS is to increase maintenance productivity. The software makes most features like work order management, extensive inventory management, customizing items to increase the team’s efficiency and productivity further. The software increases the overall productivity and safety compliance, reduce overall maintenance costs, improve employee productivity, keep track of assets and inventory, and have a complete oversight over all maintenance operations.

It can also help find work orders that take too long, spot the cause of the delay, and fix it, so work can get done faster.  Moreover, with integration of mobile CMMS, the technician has a visual of their assigned responsibility for the day, which allows them to move swiftly with urgency and increases their productivity.

Market Share Analysis of Computerized Maintenance Management System (CMMS) Vendors

The CMMS market is highly concentrated and the concentration of global market may be attributed to the majority share held prominent CMMS vendors. The companies that hold market share near to 20% are tier-1 companies and this group includes players like Infor, Maintenance Connection (Accruent), IFS, DIMO Software, IBM Corporation, and Rockwell Automation.

The companies with market share of above 7% and below 12% are the promising players. These companies are likely to showcase a quick growth trend and harness the opportunities that the global market has to offer to accommodate business expansion and revenue generation. This group includes eMaint (Fluke Corporation), CMMS Data Group, MPulse Software, Inc., and among others

Companies that have a relatively lower size with a market share worth less than 7% are strategizing to attract new clientele in foreign markets. The companies in this group are Letosys, Limble CMMS, Mobility Work, QuickFMS, Cryotos, SIERRA ODC Private Limited, PiqoTech Software Solutions Pvt. Ltd., and among others.

Country-wise Analysis

Adoption Trend in the U.S. CMMS Market

Until 2020, CMMS value across the U.S. experienced a Y-o-Y growth of over 6.8% to reach US$ 649.1 Mn. The market is set to further aggrandize at a CAGR of nearly 8.6% through 2031. FMI has projected the U.S. to remain one of the most lucrative markets in North America throughout the course of the forecast period, owing to presence of prominent CMMS vendors.

According to estimates, the adoption of CMMS software in U.S. is expected to increase by 2% to 3% during 2020 to 2022, owing to rise in small and startup manufacturing hubs across the country. Moreover, the increasing demand, specifically from the oil and gas sector has propelled the growth of U.S. CMMS market.

How is Focus on Advanced Technology Affecting Growth in the U.K.?

Technology has been increasingly adopted by all major industry sectors across Europe. Industries within the U.K. are facing their biggest shake-up since deregulation. A shift towards renewable energy sources and a greater reliance on digital technology have transformed every sector.

According to the UK trade association for the energy industry, Energy UK, around 738,000 people are employed in the sector, with around $14 billion invested every year to deliver power and energy to 28 million homes and businesses. By the year 2020, the U.K. market is expected to achieve growth at the CAGR of 9.3%.

In terms of market share, U.K. owns over 12% share in the Europe’s CMMS software market. The growing demand for CMMS products among energy and utility firms is driving the growth of U.K. CMMS market. The U.K. market is estimated to reach a valuation of 86.1 Mn by the end of 2031 by registering a CAGR of 11.7%.

China Emerges as a Key CMMS Market

China is the world’s largest manufacturer in terms of production output. The Chinese economy thrives as a manufacturing powerhouse and the nation's products seem to be everywhere. The country is known as "the world's factory" because of its strong business ecosystem. The country is estimated to record an incremental opportunity worth US$ 157.4 Mn in the global CMMS market during the forecast period.

The Chinese government continues to invest heavily in identified digital technologies. The government has increased the country’s R&D expenditure from the 1.7% of GDP in 2019, to 2.5% of GDP by 2020. It is focusing on an early adoption of new technologies and highly subsidizing companies in developing industries. This will create business opportunities for CMMS vendors.

The government is continuously focusing on investing on cloud and related ICT technologies to enhance digital transformation across the industries, which in return, would drive the growth of China CMMS systems market.

Category-wise Insights

How will Adoption in Small and Mid-Sized Enterprises (SMEs) Impact Growth?

The CMMS software was traditionally designed only for large enterprises that needed to automate and organize large, complex maintenance operations. Only the large energy and utility firms were able to leverage the benefits of CMMS software, but eventually things have changed dramatically.

Earlier, many small and mid-sized enterprises were intimidated by maintenance management software for several reasons such as high cost, complexity, difficult to integrate, and among others. But over the time, the features and benefits of these software have been increased, and the cost of CMMS systems has gone down significantly over the years.

Nowadays, all companies, regardless of sizes of organization, can benefit from CMMS software solution today. The advent of the Internet, smartphones, and advances in technology have made CMMS systems more accessible, affordable, and user-friendly than ever before. Many cost-effective, best-of-breed CMMS software programs are available in the market that provide the features to SMEs to run an effective maintenance program.

Moreover, the advent of cloud-based CMMS software gained attention of several small and mid-sized organizations, as it features low-cost and high-flexibility benefits. The organization just need to simply log into the system online and customize it based on their needs by adding or removing modules.

How Has Advent of Cloud-based CMMS Software Impacted Growth?

CMMS helps facility and maintenance managers streamline work orders, inventory management, asset monitoring, preventive maintenance scheduling, and other asset maintenance activities. The software helps with a range of internal maintenance and optimization tasks to make business more efficient and organized.

The on-premise CMMS solutions are great pieces of software, but often they lack some of the functionality as compared to cloud-based CMMS. The cloud-based CMMS refers to the SaaS application systems that are hosted by third party cloud software providers. It is the most effective way to manage maintenance in a world of ever-evolving technology.

Why is Demand for CMMS Software and Services Rising in Manufacturing Sector?

Downtime of any manufacturing equipment can cost a business significantly. Any machine remaining idle means, a manufacturing company might incur loss because of slow production processes. Integration of CMMS software can help any manufacturing business to overcome cost-intensive equipment outage with preventive maintenance.

The manufacturing sector will therefore remain one of the key end users of CMMS. It is expected to account for over 30% sales in the market.

Competition Landscape

Companies operating in the market rely on multiple expansion strategies to deepen penetration across lucrative markets. These strategies include product launches, collaborations with key players, partnerships, acquisitions and strengthening of distribution networks.

  • In March 2020, KNAPP unveiled its redPILOT Computerized Maintenance Management System (CMMS) to the North American market. The software leverages big data, predictive modeling and analytics, IoT technology and Artificial Intelligence (AI) to deliver actionable insights to supply chain managers and leaders. The software can be implemented as an added module to the redPILOT Control Tower application or implemented as a stand-alone application.
  • In November 2020, Rockwell Automation has acquired Fiix Inc., an AI-enabled Computerized Maintenance Management System (CMMS) company based in Toronto, Ontario, Canada. The software enhances capabilities in the company’s lifecycle services business, which provides a full range of industrial automation services to help customers maximize the value of their production assets, systems, plants, and processes.
  • In June 2018, Accruent, has acquired Maintenance Connection, a CMMS provider. This development accelerates Accruent’s efforts to help customers gain insight and make data-driven decisions for multi-site facility management.

FMI has profiled the following prominent CMMS providers in its report:

  • IBM Corporation
  • Rockwell Automation
  • eMaint (Fluke Corporation)
  • MicroMain Corp.
  • Infor
  • Maintenance Connection (Accruent)
  • Hippo CMMS
  • Limble CMMS
  • Mobility Work
  • DIMO Software
  • MPulse Software, Inc.
  • FasTrak SoftWorks, Inc.
  • CMMS Data Group
  • Letosys
  • QuickFMS
  • Cryotos
  • SIERRA ODC Private Limited
  • PiqoTech Software Solutions Pvt. Ltd.
  • IFS

Computerized Maintenance Management System (CMMS) Market Report Scope

Attribute

Details

Forecast Period

2021-2031

Historical Data Available for

2016-2020

Market Analysis

US$ Mn for Value

Key Regions Covered

North America, Latin America, Europe, East Asia, South Asia & Pacific, and Middle East & Africa

Key Countries Covered

U.S., Canada, Germany, Italy, France, U.K., Spain, GCC and South Africa

Key Segments Covered

Computerized Maintenance Management System (CMMS) software, enterprise size, industry, and Region

Key Companies Profiled

  • IBM Corporation
  • Rockwell Automation
  • eMaint (Fluke Corporation)
  • MicroMain Corp.
  • Infor
  • Maintenance Connection (Accruent)
  • Hippo CMMS
  • Limble CMMS
  • Mobility Work
  • DIMO Software
  • MPulse Software, Inc.
  • FasTrak SoftWorks, Inc.
  • CMMS Data Group
  • Letosys
  • QuickFMS
  • Cryotos
  • SIERRA ODC Private Limited
  • PiqoTech Software Solutions Pvt. Ltd.
  • IFS

Customization & Pricing

Available upon Request

Key Questions Answered in the Report

  • How will Computerized Maintenance Management System (CMMS) market expand until 2031?

    FMI projects the global CMMS market to register a CAGR of 8.7% over the assessment period 2021-2031. Rise in demand for CMMS software in asset-intensive industries would drive the market.

  • Which is the most lucrative region in the global CMMS market?

    North America is the most lucrative region in the global CMMS market and the trend is likely to continue until the near future. This region is growing due to the adoption of advanced asset monitoring technologies and presence of prominent CMMS vendors in the region.

  • Who are the leading players in CMMS market?

    Prominent players operating in the global CMMS landscape include IBM Corporation, Rockwell Automation, eMaint (Fluke Corporation), MicroMain Corp., Infor, Maintenance Connection (Accruent), Hippo CMMS, Limble CMMS, Mobility Work, DIMO Software, and among others.

  • What are the major factors driving Computerized Maintenance Management System (CMMS) market?

    Key factors driving the CMMS market are rise in adoption of CMMS in energy and utilities sector, increasing adoption in Small and Mid-Sized Enterprises (SMEs), and awareness regarding CMMS benefits such as reduced downtime, cost-effectiveness, and increased productivity.

Enquiry before Buying

  • Is the CMMS market research conducted by FMI?

    Yes, the CMMS report has been compiled by expert analysts of FMI through a combination of primary and secondary research. To know more about how the research was conducted, you can speak to the research analyst

  • What research methodology is followed by FMI?

    FMI follows a methodology that encompasses the demand side assessment of the market, and triangulates the same through a supply side analysis. This methodology is based on use of standard market structure, methods and definitions.

  • Who are the respondents for primary research?

    FMI speaks to stakeholders across the spectrum, including C-level executives, distributors, product manufacturers, industry experts. For a full list of primary respondents, please reach out to us.

  • What are the sources of secondary research?

    FMI conducts extensive secondary research through proprietary databases, paid databases, and information available in the public domain. We refer to industry associations, company press releases, annual reports, investor presentations, and research papers. More information about desk research is available upon request.

  • Is a sample of this report available for evaluation?

    Yes, you can request a sample and it will be sent to you through an email.

  • How can I buy this report?

    FMI provides a secure online payment system to buy report seamlessly. You can buy the report securely and safely.

Key Segments Covered in the Computerized Maintenance Management System (CMMS) Market

Solution

  • CMMS Software
    • Cloud-based/Web-based
    • On-Premises
  • Service
    • Consulting Services
    • Integration & Implementation Services
    • Support & Maintenance Services

Enterprise Size

  • Small & Medium Enterprises (SMEs)
  • Large Enterprises

Industry

  • Manufacturing
  • Transportation & Logistics
  • Retail & CPG
  • Education
  • Hospitality
  • Healthcare
  • Energy & Utilities
  • Government
  • Others

Region

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia & Pacific
  • Middle East & Africa (MEA)

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