Enterprise Asset Management Market Share was valued at USD 3,000 Million in 2019 and is expected to register a CAGR of 8.7% during the forecast period.

Enterprise asset management is a combination of systems, software, and services that are utilized to control and maintain the operational assets and equipment. It is a process of handling the lifecycle of physical assets and equipment to expand its lifetime, enhance quality & efficiency, decrease costs, and improve environmental safety. Enterprise asset management includes asset maintenance, scheduling & planning, work management, and supply chain management, among others.

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The factors that are responsible for driving the growth of the global enterprise asset management market include the growing demand for increasing the lifecycle performance of assets and a decrease in the procurement & maintenance expenses in various organizations. Moreover, increasing inclination towards cloud-based deployment and the incorporation of various advanced technologies such as big data are some other factors that are creating various growth opportunities for enterprise asset management market during the forecast period. Several advantages offered by enterprise asset management includes its ability to maximize the return on assets, decrease the risks & costs, make informed decisions related to the assets, increase uptime & enhance predictability and decrease total cost of ownership, among others. All these factors are proliferating the growth of the global enterprise asset management market. In addition to this, growth in the digitization of industries and enhancement in the technological infrastructure are the significant factors that are accelerating the demand for enterprise asset management in the market worldwide. The factors that hinder the growth of the market include the increasing concerns related to data confidentiality and security among the organizations.

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Based on the component, the solution segment is anticipated to grow at a higher CAGR in the global enterprise asset management market during the forecast period owing to the growth in the inclination of organizations towards predictive maintenance as a result of the growing adoption of various advanced technologies like machine learning and artificial intelligence. In addition to this, various benefits offered by the solutions such as the decrease in the breakdown costs & maintenance costs, increase production hours, and increased asset life are further driving the growth of the market in this segment.

Based on the organization size, the small & medium-sized enterprises segment is projected to increase at a higher CAGR over the forecast period due to the increasing demand for enterprise asset management among small & medium-sized organization, specially to increase the utilization of their resources and remain competitive in the market. Moreover, the increasing number of small & medium-sized enterprises entering the market is also a major factor that is fuelling the segment growth.

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Based on the region, the North America region is expected to increase at a higher compound annual growth rate during the forecast period due to its rising adoption among various public and private organizations for improved management of their equipment and assets. Moreover, the presence of various enterprise asset management vendors and growing demand to meet the stringent regulatory compliances are also some other factors which are fuelling the growth of the market in this region.

Various notable players operating in the market include Oracle, Infor, IFS, SAP, IBM, IPS, ABB, AVEVA Group plc, eMaint, and Aptean, among others. 

Key Developments:

• • In 2020, SAP entered into a partnership with Siemens to enhance the interoperability and utilize each other’s complementary technologies to provide integrated solutions for supply chain, product lifecycle management, asset management, and service.
  • In 2019, IBM launched asset management software with two of the company’s gold-standard business partners. This Maximo asset management system enables the marine companies to decrease the operational costs & risk, manage inventory and assets more efficiently, and optimize the work process.

The global enterprise asset management market has been segmented on the basis of component, deployment mode, organization size, vertical, and regions. Based on the component, the market is segmented into solution and services. The solution segment is further categorized into inventory management, asset lifecycle management, labor management, work order management, facility management, predictive maintenance, and reporting & analytics. The services segment is further categorized into managed services and professional services. Based on deployment mode, the market is segmented into the cloud and on-premises. Based on organization size, the market is segmented into small & medium-sized enterprises and large enterprises. Based on vertical, the market is segmented into healthcare & life sciences, IT & Telecom, transportation & logistics, manufacturing, energy & utilities, government & defense, and others. 

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Key questions answered in this research report:

• • At what pace is the global enterprise asset management market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in the enterprise asset management market? What will be the impact of drivers and restraints in the future?
  • What are the regional revenues and forecast breakdowns? Which are the major regional revenue pockets for growth in the global enterprise asset management market?
  • Which component generated maximum revenues in 2019 and identify the most promising component during the forecast period?
  • What are the various vertical areas of the global enterprise asset management market and how they are poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Report Coverage	Details
Market Base Year	2019
Market Forecast Period	2020-2027
Market Revenues (2019)	USD 3,000 Million
Base Year & Forecast Units	Revenues (USD Million)
Market Segment	By Component, By Deployment Mode, By Organization Size, By Vertical, By Region
Regional Coverage	Asia Pacific, Europe, North America, and RoW
Companies Profiled	Oracle, Infor, IFS, SAP, IBM, IPS, ABB, AVEVA Group plc, eMaint, and Aptean, among others; a total of 10 companies covered.
25% Free Customization Available	We will customize this report up to 25% as a free customization to address our client’s specific requirements

Market Segmentation

Global Enterprise Asset Management Market by Component

• • Solution
    • Inventory Management
    • Asset Lifecycle Management
    • Labor Management
    • Work Order Management
    • Facility Management
    • Predictive Maintenance
    • Reporting & Analytics
  • Services
    • Managed Services
    • Professional Services

Global Enterprise Asset Management Market by Deployment Mode

• • Cloud
  • On-Premises

Global Enterprise Asset Management Market by Organization Size

• • Small & Medium-Sized Enterprises
  • Large Enterprises

Global Enterprise Asset Management Market by Vertical

• • Healthcare & Life Sciences
  • IT & Telecom
  • Transportation & Logistics
  • Manufacturing
  • Energy & Utilities
  • Government & Defense
  • Others

Global Enterprise Asset Management Market by Region

• • North America Enterprise Asset Management Market (Option 1: As a part of the free 25% customization)
    • North America Enterprise Asset Management Market by Component
    • North America Enterprise Asset Management Market by Deployment Mode
    • North America Enterprise Asset Management Market by Organization Size
    • North America Enterprise Asset Management Market by Vertical
    • US Enterprise Asset Management Market All-Up
    • Canada Enterprise Asset Management Market All-Up
  • Europe Enterprise Asset Management Market (Option 2: As a part of the free 25% customization)
    • Europe Enterprise Asset Management Market by Component
    • Europe Enterprise Asset Management Market by Deployment Mode
    • Europe Enterprise Asset Management Market by Organization Size
    • Europe Enterprise Asset Management Market by Vertical
    • UK Enterprise Asset Management Market All-Up
    • Germany Enterprise Asset Management Market All-Up
    • France Enterprise Asset Management Market All-Up
    • Spain Enterprise Asset Management Market All-Up
    • Rest of Europe Enterprise Asset Management Market All-Up
  • Asia-Pacific Enterprise Asset Management Market (Option 3: As a part of the free 25% customization)
    • Asia-Pacific Enterprise Asset Management Market by Component
    • Asia-Pacific Enterprise Asset Management Market by Deployment Mode
    • Asia-Pacific Enterprise Asset Management Market by Organization Size
    • Asia-Pacific Enterprise Asset Management Market by Vertical
    • China Enterprise Asset Management Market All-Up
    • India Enterprise Asset Management Market All-Up
    • Japan Enterprise Asset Management Market All-Up
    • Rest of APAC Enterprise Asset Management Market All-Up
  • RoW Enterprise Asset Management Market (Option 4: As a part of the free 25% customization)
    • RoW Enterprise Asset Management Market by Component
    • RoW Enterprise Asset Management Market by Deployment Mode
    • RoW Enterprise Asset Management Market by Organization Size
    • RoW Enterprise Asset Management Market by Vertical
    • Brazil Enterprise Asset Management Market All-Up
    • South Africa Enterprise Asset Management Market All-Up
    • Saudi Arabia Enterprise Asset Management Market All-Up
    • UAE Enterprise Asset Management Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Enterprise Asset Management Market All-Up

Major Players Operating in the Enterprise Asset Management Market (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • Oracle
  • Infor
  • IFS
  • SAP
  • IBM
  • IPS
  • ABB
  • AVEVA Group plc
  • eMaint
  • Aptean