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Global $25.9 Bn Enterprise Asset Management Market to 2030
Dublin, Nov. 06, 2020 (GLOBE NEWSWIRE) -- The "Enterprise Asset Management Market Research Report: By Offering, Enterprise, Deployment, Vertical - Global Industry Analysis and Growth Forecast to 2030" report has been added to ResearchAndMarkets.com's offering.
The global enterprise asset management (EAM) market is expected to generate a revenue of $25.9 billion by 2030, rising from $5.5 billion in 2019, and is predicted to witness a 17.0% CAGR during 2020-2030. The market is growing due to the surging need for reducing operational expenses in companies.
This further results in the reduction of operational costs across the organization. In addition to all this, EAM software also aids in decreasing material procurement cost and increasing the return on investment (ROI), owing to which, companies are increasing adopting it. The coronavirus pandemic however, has slowed the growth of the market at the present time, as the partial or complete lockdown in almost all parts of the world has led to the closure of a number of manufacturing and commercial operations.
In terms of offering, the solution division accounted for the larger share of the enterprise asset management market in the past and is further expected to dominate the market in the coming years as well. This can be ascribed to the rising necessity if effective enterprise asset and resource management, growing awareness regarding a proactive asset management approach, increasing focus on enhanced ROI on assets, and rapidly growing manufacturing, retail, telecommunications, and healthcare sectors.
On the basis of enterprise, large enterprises held the major share of the enterprise asset management market in the past, because of their need for managing assets efficiently, increasing awareness regarding identifying the reasons for equipment malfunctioning beforehand, growing focus on machine downtime analysis, and strict regulatory landscape that the enterprise are subjected to. Considering the deployment segment, the cloud category is predicted to register the higher CAGR in the near future.
This is because of the growing number of startups and companies in several industries across the globe that are making use of cloud computing. Cloud solutions are gaging popularity because they do not need additional IT infrastructure and enable the data to be accessed anytime, from anywhere. Based on vertical, the healthcare and life sciences category is projected to register the highest CAGR in the coming years, due to the need for better performance monitoring, increasing spending in the healthcare sector, and rapid digitization.
Geographically, North America has been dominating the enterprise asset management market at the present time, which can be attributed to the rising number of small and medium enterprises, developed IT infrastructure, efficient asset utilization, and strong inclination of regional firms on predictive utilization. The Asia-Pacific region is expected to grow at the fastest pace in the years to come due to swift digitization, rising IT spending, and expanding construction and residential industry.
Key Topics Covered:
Chapter 1. Research Background
Chapter 2. Research Methodology
Chapter 3. Executive Summary
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 EAM 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
4.3.2 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 Current Scenario
4.4.2 COVID-19 Scenario
4.4.3 Future Scenario
4.5 Porter's Five Forces Analysis
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
11.1 U.S. EAM Market
11.2 U.K. EAM Market
11.3 Germany EAM Market
11.4 China EAM Market
11.5 Japan EAM Market
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 Business Overview
13.2 Product and Service Offerings
13.3 Key Financial Summary
Oracle Corporation
SAP SE
IBM Corporation
ABB Ltd.
Industrial and Financial Systems (IFS) AB
MRI Software LLC
CGI Inc.
Infor Inc.
Ramco Systems Limited
Rockwell Automation Inc.
AssetWorks LLC
UpKeep Technologies Inc.
Ultimo Software Solutions bv
Maintenance Connection LLC
eMaint Enterprises LLC
DataMAX Software Group Inc.
For more information about this report visit https://www.researchandmarkets.com/r/bxje8e
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