The GMI Research forecasts that the enterprise asset management market is witnessing an upsurge in demand over the forecast period. This is mainly due to the rising inclination towards cloud-based deployment, and the incorporation of numerous advanced technologies such as big data.
Introduction of the Enterprise Asset Management Market:
Enterprise asset management comprises software, systems, and services that are used to control and maintain the operational assets and equipment. It is known as a process of handling the lifecycle of physical assets and equipment to improve quality & efficiency, increase its lifetime, reduce costs, and enhance environmental safety.
Enterprise Asset Management Market Dynamics (Including trends and market share)
The strong demand for growing the lifecycle performance of assets and a reduction in the procurement & maintenance expenses in several organizations are the key factors surging the growth of the global enterprise asset management market. Furthermore, rising inclination towards cloud-based deployment and incorporating numerous advanced technologies such as big data are the emerging trends in the enterprise asset management market which are accelerating the market growth in the upcoming years.
Various advantages provided by enterprise asset management include its capability to maximize the return on assets, make informed decisions regarding the assets, reduce the risks & costs, rise uptime & improve predictability, and reduce total cost of ownership, among others. All these factors are fuelling the growth of the global enterprise asset management market share in terms of revenue. Furthermore, growth in the digitization of industries and development in the technological infrastructure are the key factors enhancing the demand for enterprise asset management in the market across the world. On the other hand, the rising concerns regarding data confidentiality and security among the organizations are factors hampering the growth of the market.
Based on the region, the North America region is projected to grow at a higher CAGR during the forecast period owing to its growing adoption among numerous public and private organizations for enhanced management of their equipment and assets. In addition to this, the presence of numerous enterprise asset management vendors and rising demand to meet the strict regulatory compliances are also some other drivers that are accelerating the growth of the market in this region.
Key Players of the Global Enterprise Asset Management Market:
• Oracle
• Infor
• IFS
• SAP
• IBM
• IPS
• ABB
• AVEVA Group plc
• eMaint
• Aptean
Enterprise Asset Management Market Segmentation:
Global Enterprise Asset Management Market Report Segment by Component:
• Solution
o Inventory Management
o Asset Lifecycle Management
o Labor Management
o Work Order Management
o Facility Management
o Predictive Maintenance
o Reporting & Analytics
• Services
o Managed Services
o Professional Services
Global Enterprise Asset Management Market Report Segment by Deployment Mode:
• Cloud
• On-Premises
Global Enterprise Asset Management Market Report Segment by Organization Size:
• Small & Medium-Sized Enterprises
• Large Enterprises
Global Enterprise Asset Management Market Report Segment by Vertical:
• Healthcare & Life Sciences
• IT & Telecom
• Transportation & Logistics
• Manufacturing
• Energy & Utilities
• Government & Defense
• Others
Global Enterprise Asset Management Market Report Segment by Region:
• North America
o United States of America
o Canada
• Asia Pacific
o China
o Japan
o India
o Rest of APAC
• Europe
o United Kingdom
o Germany
o France
o Spain
o Rest of Europe
• RoW
o Brazil
o South Africa
o Saudi Arabia
o UAE
o Rest of the world (remaining countries of the LAMEA region)
About GMI Research
GMI Research is a market research and consulting company that offers business sights and market research reports for every enterprise, be it small and medium enterprises or large organization. Our research team helps the clients to understand the importance and impact of the market dynamics. We have a team of industry experts that provides unbiased insights on reports to best meet the specific needs of our clients. GMI Research’s analysts rely on secondary research to lay down the foundation of every report. We use both internal and external databases to cull out relevant information about the industry. Our main aim is to keep our clients abridged of the emerging opportunities and challenges in a wide range of industries. We provide step-by-step assistance to our client, through strategic and consulting services to reach a managerial and actionable decision. Featured in the ‘Top 20 Most Promising Market Research Consultants’ list of Silicon India Magazine in 2018, we at GMI Research are always looking forward to helping businesses stay ahead of the curve.
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