Global Enterprise Asset Management Market Report and Forecast 2024-2032

Global Enterprise Asset Management Market Outlook

The global enterprise asset management market size attained a value of USD 5.10 billion in 2023. The market is further expected to grow at a CAGR of 11.90% between 2024 and 2032, to reach a value of USD 13.96 billion by 2032.

Key Trends in the Market

Enterprise asset management or EAM refers to the technological methods of optimising an organisation’s asset management, while boosting operational efficiency. Enterprise asset management directs the lifecycle of valuable and complex assets of an enterprise to maintain, optimise, and control the overall quality of the  assets. EAM systems include software, hardware, and services to cater to the asset management needs of an organisation.

• As per the enterprise asset management market analysis, digitalisation across various sectors is triggering the growth of enterprise asset management market forecast. Enterprise asset management has been gaining traction in sectors such as healthcare, government, and manufacturing, among others as larger operations are carried out.

• Increasing demand for enterprise asset management solutions in food processing sector, to optimise asset utilisation, enhance the production yield, and monitor asset performance, is adding to the enterprise asset management market value. In addition, the increasing demand for premium packaged food products is fuelling the market numbers.

• Collaborations between tech giants, aimed towards transforming businesses and enhancing technological capabilities are leading to a development of innovative enterprise asset management solutions. The enterprise asset management market report also suggests that development and emergence of advanced technologies such as IoT sensors, artificial intelligence (AI), and computerised maintenance asset management, among others, are key enterprise asset management market trends.

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Market Analysis

Based on deployment, the market is bifurcated into cloud and on-premise. On the basis of enterprise size, the market is classified into large enterprises and small and medium enterprises (SMEs). By end-use, the market is segmented into manufacturing, facility management, healthcare, education, and government, among others. The regional markets for enterprise asset management are divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the key players in the global enterprise asset management market, covering their competitive landscape and latest developments like mergers, acquisitions, investments and expansion plans.

• ABB Ltd

• CGI Inc.

• eMaint Enterprises, LLC.

• IBM Corporation

• IFS AB

• Hexagon AB

• Oracle Corporation

• Ramco Systems Limited

• SAP SE

• UpKeep Technologies, Inc.

• Others

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Market Share by Deployment

The cloud segment, based on deployment, accounts for a healthy portion of the enterprise asset management market share. The assets of an organisation can be easily tracked using a cloud-based EAM software which can help a company maintain the record of its assets, liabilities, and investments in real-time with access support for any location. EAM cloud deployments reduce asset management costs, can set accurate budgets much faster than traditional manual documentation, and can track asset management activities 24X7. Moreover, cloud EAM software can consolidate asset applications to one system of technology, predict future asset parameters, provide in-depth financial analysis, and maximise asset efficiencies, which are leading to a higher adoption rate of cloud enterprise asset management software across organisations.

Market Share by End-Use

Based on end-use, the manufacturing segment accounts for a significant share in the enterprise asset management market. According to the enterprise asset management market report, the thriving manufacturing sector, coupled with rapid digitalisation is driving the segment’s growth. The increasing adoption of enterprise asset management tools in manufacturing units to reduce maintenance and operation costs, monitor asset performance, manage inventory procurement, and optimise the equipment and machinery uptime, is adding to the enterprise asset management market report growth. Over the forecast period, the fast-paced growth of consumer electronics, FMCG, and pharmaceuticals, among manufactured products, are expected to generate a healthy demand for enterprise asset management solutions and services for manufacturing end-uses.

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Competitive Landscape

ABB Ltd is a leading engineering company which provides technological solutions such as control room solutions, drives, industrial software, and measurement and analytics, among others. The company provides expertise to various industries including mining, oil and gas, and automotive. ABB Ltd was founded in 1988 and is headquartered in Zurich, Switzerland.

CGI Inc. is a leading information technology consultation company, the product portfolio of which includes business consulting, systems integration, managed IT services, and infrastructure services, among others. Solutions developed by this company include CGI Advantage, CGI Open Grid360, and CGI Retail Suite. The company was established in 1976 and is headquartered in Quebec, Canada.

eMaint Enterprises, LLC. is a prominent software company which develops and delivers high-quality ground-breaking asset reliability platforms, maintenance tools, and software solutions. The company also offers expertise in enterprise asset, work, and inventory management. Founded in 1986, eMaint Enterprises is currently headquartered in Florida in the United States.

Other market players include IBM Corporation, IFS AB, Hexagon AB, Oracle Corporation, Ramco Systems Limited, SAP SE, and UpKeep Technologies, Inc., among others.

Key Highlights of the Report