The Evolution of IoT Applications in the Global Enterprise Asset Management Market
Enterprise Asset Management (EAM) provides real-time information and visibility into almost all physical assets, and across the Maintenance, Repair, and Overhaul (MRO) supply chain network. For managing the asset lifecycle and to better address business requisites, asset-intensive organisations require better, clear visibility, control, and automation across their business and assets management. FMI’s global perspective offers a holistic analytical approach on the growth in adoption and innovations during the forecast period.
Enterprise Asset Management Market – Key Research Findings
The global Enterprise asset management market was valued at approximately US$ 3,153 Mn in 2019.
The Enterprise asset management market is projected to expand at a CAGR of more than 10% during the forecast period (2019-2029).
The rapid integration of IoT application is expected to support the growth of the global Enterprise asset management market during the forecast period.
North America and Europe will remain leading regional markets for enterprise asset management deployment.
Strong investments, rigorous R&D activities across these regions, and increase in the penetration of advanced technologies has been boosting the deployment rate of enterprise asset management within North America and Europe.
South Asia holds attractive growth potential for the enterprise asset management market
The South Asian countries like India, China, and South Korea are witnessing technological advancements in the field of IT, manufacturing, industrial sectors, and others – creating lucrative opportunities for the enterprise asset management solution providers in the region.
The software sub-segment is the more attractive component for enterprise asset management market.
Top 3 Factors Shaping Enterprise Asset Management Market
Consistently Increasing Number of Enterprises
Aligning with the thriving global economy, the number of start-ups as well as fast-growing enterprises is also on a constant rise. The rising enterprise establishments accompanies with the soaring need for effective management of valuable organizational assets. In addition, start-up companies have been recently receiving government funds for new ventures and product development. Small and large enterprises continue to opt for enterprise asset management software for cost effective asset lifecycle optimization, for a modular and fully scalable solution that fulfils organizational needs.
The Proliferation of IoT-Enabled Devices
Several companies in the global enterprise asset management market are integrating the Internet of Things (IoT) technology to manage and facilitate high level of quality assurance required for the purpose of EAM solutions. For instance, the IBM Maximo solution can be integrated with IoT applications to optimize operations and aid in better decision-making.
Businesses are Seeking Advantages beyond Asset Management
Key vendors are investing their efforts in surpassing traditional asset management, as companies are now seeking additional benefits from enterprise asset management solutions. In addition to providing access of organizational asset information to every department and employee at every location, the latest industry trend includes enterprise asset management solutions that also involve several other important factors, such as energy usage, lifecycle costs, maintenance histories, warranty catalogs, purchase orders, audit records, and others.
Enterprise Asset Management Market Structure Analysis
SAP SE, IBM Corporation, Oracle Corporation, ABB, Schneider electric, and Infor constitute the leading players actively participating in the competitive landscape of enterprise asset management market.
A majority of the key players are concentrating on the latest industry trend of IoT integration of EAM systems.
Several enterprise asset management solutions providers are also investing efforts in alignment with the increasing market value share of cloud-based deployment of enterprise asset management systems.
EAM Market Set to Grow 2X through 2029According to FMI analysis, cloud-based systems are continuously evolving. This cloud-based sub-segment is expected to witness significant technological developments during the forecast period. Moreover, the adoption of enterprise asset management solutions in the manufacturing and healthcare industries for the purpose of quality management is expected to increase significantly during the forecast period.
Developing Economies Point to Ample Upcoming Opportunities
In the first wave of growth, EAM solution providing companies across North America and Western Europe became the early adopters of enterprise asset management. In the second wave, the developing economies of South Asia were expected to be at the forefront of growth. Countries, such as China and India, are expected to fuel the growth of the EAM market in the Asia Pacific (excluding Japan) region.
* This data is only a representation. Actual data may vary and will be available in report.
The Broader Outlook
Increased accuracy in data analysis, improvements in decision-making, and optimised operation management outcomes are among the major factors driving the growth of the global enterprise asset management market. However, adherence to standard regulations and mobility analytics are some of the recent trends in the enterprise asset management market. Market players are focusing on the implementation of AI and advanced IoT technologies.
On-premise deployments continue to account for lion’s share in market
Robust growth projected for cloud-based deployments
Software account for over 73% share of EAM solution offerings
Demand for EAM services to increase at a robust rate
How Growth will Unfold
While most of the key players are focused on maintaining a strong market presence in the North America, Europe, and South Asia markets, the report underscores that technology assessment will be an important developmental strategy for companies. Leading players in the EAM market are also concentrating on entering into partnerships and collaborations with other company providers, and this will remain a strong differentiating strategy.
Manufacturing, transport & logistics, and banking & finance industries have been the early adopters of enterprise asset management solutions. The adoption by various other end-use industries, including healthcare, oil & gas, and retail is highly likely to see a remarkable upsurge over the forthcoming years. Government sector also holds notable growth potential for the enterprise asset management market.
Government | Transportation & Logistics
* This data is only a representation. Actual data may vary and will be available in report.Click Here To Know How The Growth Will Unfold
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Enterprise Asset Management Market: Global Industry Analysis 2013-2017 & Opportunity Assessment 2018-2028
A recent market study published by FMI “Enterprise Asset Management Market: Global Industry Analysis 2013-2017 & Forecast 2018-2028” offers a comprehensive assessment of the most important market dynamics. After conducting thorough research on the historic as well as current growth parameters of the Enterprise Asset Management market, the growth prospects of the market are obtained with maximum precision.
Enterprise Asset Management Market Taxonomy
The global Enterprise Asset Management market is segmented in detail to cover every aspect of the market and present a complete market intelligence approach to the reader.
- On Premise
- Transportation & Logistics
- Oil & Gas
- Banking & Finance
- North America
- Latin America
- South Asia
- East Asia
- Middle East & Africa
The report commences with the executive summary of the Enterprise Asset Management market, which includes a summary of the key findings and key statistics of the market. It also includes the market value (US$ million) estimates of the leading segments of the Enterprise Asset Management market.
Readers can find the detailed taxonomy and the definition of the Enterprise Asset Management market in this chapter, which will help them understand the basic information about the Enterprise Asset Management market. This section also highlights the key inclusions and exclusions, which helps the reader understand the scope of the Enterprise Asset Management market report.
The report provides the key trends that are expected to substantially impact the growth of the market during the forecast period. Detailed industry trends are provided in this section, along with key market developments or product innovations, key competition mapping, and veterinary health market outlook, which is likely to have a significant impact on Enterprise Asset Management market.
This section includes the key inclusions of the report. It includes the product adoption & usage analysis, product timeline, regulatory assessment, reimbursement scenario, pipeline assessment & opportunity analysis, and manufactures’ strategies for market expansion.
This section explains the global market value analysis and forecast for the Enterprise Asset Management market between the forecast period of 2013-2028. This chapter includes the detailed analysis of the historical Enterprise Asset Management market, along with an opportunity analysis of the future. Readers can also find the absolute opportunity for the current year (2019 – 2020), and an incremental opportunity for the forecast period (2019 – 2029).
This chapter explains the key macro-economic factors that are expected to influence the growth of the Enterprise Asset Management market during the forecast period. Along with macroeconomic factors, this section also highlights the opportunity analysis for the Enterprise Asset Management market. This chapter also highlights the key dynamics of the Enterprise Asset Management market, which include the drivers, restraints, and trends. Moreover, it will enable readers to understand the key trends followed by the leading manufacturers in the Enterprise Asset Management market.
Based on the Deployment, the Enterprise Asset Management market is segmented into On Premise and Cloud. In this chapter, readers can find information about the key trends and developments in the Enterprise Asset Management market and market attractiveness analysis based on the Deployment segment.
A detailed analysis about the Components of Enterprise Asset Management in the Enterprise Asset Management market has been explained in this chapter. The Industry of Enterprise Asset Management have been classified into Government, Healthcare, Manufacturing, Transportation & Logistics, Oil & Gas, Banking & Finance, and Retail, among others. In this chapter, readers can find information about the market attractive analysis based on Industry.
This chapter provides details about the Enterprise Asset Management market on the basis of Component, based on which the market has been classified into Software and Services In this chapter, readers can understand the market attractiveness analysis based on Component.
This chapter explains how the Enterprise Asset Management market will grow across various geographic regions, such as North America, Latin America, Europe, East Asia, South Asia, Oceania, and the Middle East & Africa (MEA).
This chapter includes a detailed analysis of the growth of the North America Enterprise Asset Management market, along with a country-wise assessment that includes the U.S. and Canada. Readers can also find the regional trends, regulations, and market growth based on the Industry, Components, and countries in North America.
Readers can find detailed information about several factors, such as the pricing analysis and the regional trends, which are impacting the growth of the Latin America Enterprise Asset Management market. This chapter also includes the growth prospects of the Enterprise Asset Management market in the leading LATAM countries such as Brazil, Mexico, and the Rest of Latin America.
Important growth prospects of the Enterprise Asset Management market based on its Components in several countries, such as Germany, the U.K., France, Spain, Italy, Russia, Poland, and the Rest of Europe, are included in this chapter.
India, Indonesia, Thailand, and Malaysia are among the leading countries in the South Asia region, which are among the prime subjects of assessment to obtain the growth prospects of the South Asia Enterprise Asset Management market in this chapter. Readers can find detailed information about the growth parameters of the South Asia Enterprise Asset Management market during the period 2018-2028.
This chapter highlights the growth of the Enterprise Asset Management market in the East Asia by focusing on China, Japan, and South Korea. This section also helps readers understand the key factors that are responsible for the growth of the Enterprise Asset Management market in East Asia.
In this chapter, Australia and New Zealand are among the leading countries in the Oceania region, which are the prime subjects of assessment to obtain the growth prospects of the Oceania Enterprise Asset Management market.
This chapter provides information about how the Enterprise Asset Management market will grow in the major countries in the MEA region, such as GCC Countries, South Africa, Northern Africa, and the rest of MEA, during the forecast period 2019 - 2029.
In this chapter, readers can find detailed information about the tier analysis and market concentration of the key players in the Enterprise Asset Management market, along with their market presence analysis by region and product portfolio.
In this chapter, readers can find a comprehensive list of all the leading stakeholders in the Enterprise Asset Management market, along with detailed information about each company, which includes the company overview, revenue shares, strategic overview, and recent company developments. Some of the market players featured in the report are IBM Corporation; SAP SE; Schneider Electric; Oracle Corporation; ABB; Ramco Systems; IFS AB; Infor; AssetWorks, LLC; and Bentley Systems, Inc., among others.
This chapter includes a list of acronyms and assumptions that provide a base to the information and statistics included in the Enterprise Asset Management market report.
This chapter helps readers understand the research methodology followed to obtain the various conclusions as well as important qualitative and quantitative information about the Enterprise Asset Management market.
How the research was conducted?
- C - Level Executives
- Marketing Directors
- Sales Heads
- Production Managers
- Distributors Heads
- Sales Executives
- Product Manufacturers
- Industry Experts
- End Users
- Current Market Dynamics and Challenges
- Market Characteristics
- Market Performance and Growth Quadrants
- Competition Structure and Market Structure
- Strategic Growth Initiatives
- Near term and long term market growth prospects
- Market Segment Splits and Authenticity
- Opinions on market projections and validity of assumptions
- Industry Publications
- IET Journals
- Industrial Product Review
- Industrial Automation Magazine
- Industry Associations
- Automation Industry Association
- ISA (International Society of Automation)
- Company Press Releases
- Annual Reports and Investor Presentations
- Research Papers
- Government Websites and Publications
- Trade Websites
Primary Interview Splits