Global Enterprise Asset Management Market
The GMI Research expects that the Enterprise Asset Management Market will notice an augmentation in demand over the forecast period. This is because of the increasing emphasis on utilizing the assets, the rising need to decrease the attainment cost, and accelerating internet penetration.
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Introduction of the Enterprise Asset Management Market
Enterprise asset management is the incorporation of systems, software, and services used to control and sustain operational assets and equipment. In other words, it helps to handle the lifecycle of physical assets and tools to amplify its lifetime, strengthen quality & efficiency, optimize costs, and enhance environmental safety.
Key Players of Market:
- eMaint
- Oracle
- IFS
- Infor
- SAP
- IPS
- IBM
- ABB
- AVEVA Group plc
- Aptean
Enterprise Asset Management Market Dynamics
Several factors responsible for the growth of the global enterprise asset management market include the surging propensity towards the usage of cloud-based solutions and the integration of several sophisticated technologies like big data. Also, rapid digitalization of industries and improvement in the technological infrastructure will strengthen the market size. In addition, the augmenting demand to raise the lifecycle performance of assets, as well as the increasing need to decrease the maintenance expenses across various organizations, further stimulates market growth. On the other side, the growing apprehension towards data prudence and safety across the organizations will hamper the market growth.
Components Segment Drivers
As per the components, the solution segment is predicted to witness faster growth over the coming years. This is due to the aggravating preference towards predictive maintenance as a result of the mounting endorsement of various modernized technologies such as machine learning and artificial intelligence. Besides this, enormous beneficial features of solutions include the reduction of breakdown & maintenance costs, larger production hours, and enlarged asset life, which altogether proliferate the market demand.
Organization size Segment Drivers
The small & medium-sized enterprises will expand at a faster rate due to the mounting demand for these solutions across SMEs, chiefly to escalate the usage of their resources as well as endure their competitiveness in the market. Additionally, the accelerating number of small & medium-sized enterprises in the market further adds to the market growth.
Regional Drivers
Based on the regional coverage, North America is predicted to capture a prominent market share over the coming years. This is attributed to the elevating endorsement by several public and private organizations to improve the management of equipment and assets. Correspondingly, the prevalence of many asset management vendors and the fuelling demand to serve the rigorous norms are also some principal factors bolstering the market growth.
Enterprise Asset Management Market Segmentation:
Segmentation by Component
- Solution
- Inventory Management
- Asset Lifecycle Management
- Labor Management
- Work Order Management
- Facility Management
- Predictive Maintenance
- Reporting & Analytics
- Services
- Managed Services
- Professional Services
Segmentation by Deployment Mode
- Cloud
- On-Premises
Segmentation by Organization Size
- Small & Medium-Sized Enterprises
- Large Enterprises
Segmentation by Vertical
- Healthcare & Life Sciences
- IT & Telecom
- Transportation & Logistics
- Manufacturing
- Energy & Utilities
- Government & Defense
- Others
Segmentation by Region:
- Asia Pacific
- China
- Japan
- India
- Rest of APAC
- North America
- United States of America
- Canada
- Europe
- United Kingdom
- Germany
- France
- Spain
- Rest of Europe
- RoW
- UAE
- Brazil
- South Africa
- Saudi Arabia
About GMI Research
The consulting and market research company, GMI Research, offers reports of market research ad business insights and market acumen to various small, medium, and large scale enterprises. Our comprehensive reports help clients to formulate prudent business policies and attain long-term growth in the market domain. The large team of analysts and industry experts with expertise from several countries like Europe, Asia-Pacific, North America, among others, provides a stet-to-step solution to client. The report includes clarified predictions, a view of the competitive industry, major factors impacting the market growth, and other market insights to succour companies reaching strategic decisions.
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