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Enterprise Asset Management (EAM) Software Market Report Scope & Overview:

Enterprise Asset Management (EAM) Software Market size was valued at USD 4.04 Bn in 2022 and is expected to reach USD 8.14 Bn by 2030, and grow at a CAGR of 9.13% over the forecast period 2023-2030.

Enterprise Asset Management (EAM) is a collection of systems, software, and services used to manage and control operational assets and the operating system. It is the process of dealing with the lifecycle of physical assets and systems in order to extend their lifespan, improve quality and efficiency, decrease costs, and improve environmental safety. Asset maintenance, scheduling and planning, task management, and supply chain management are all examples of enterprise asset management.

Enterprise Asset Management (EAM) Software Market Revenue Analysis

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IT service management, physical asset, and infrastructure management, virtual asset management, emerging asset management, and fixed asset management and accounting are all subsets of EAM. EAM systems improve commercial company operations by improving asset dependability, availability, and utilization. Furthermore, such systems gather, integrate, and analyze all key information on all types of assets in businesses. Enterprise asset management covers a wide range of assets, from strategic or critical physical assets to human assets.

MARKET DYNAMICS:

KEY DRIVERS:

  • Enterprises are increasingly shifting away from traditional asset management systems and toward contemporary asset management.

  • growing use of IoT platforms and devices for asset management in enterprises.

  • Overheads are eliminated as a result of compliance.

  • AI, IoT, and analytics are convergent technologies.

RESTRAINTS:

  • Difficulties with regulatory compliance.

  • Data security and confidentiality concerns.

  • Implementation issues for businesses with a variety of operating architectures.

OPPORTUNITIES:

  • The need to extend the life of assets through the use of sophisticated technology.

  • Adoption of a digital asset management approach to improve asset return.

  • Organizations' preference for cloud-based deployments to overcome on-premises restrictions.

CHALLENGES:

  • Difficulty in gathering, evaluating, and applying data.

  • Choosing the best combination of solutions.

IMPACT OF COVID-19:

The pandemic of COVID-19 had a favorable influence on the EAM market. This is due to the fact that businesses suffered huge losses due to business closures during the lockdown; however, after reopening, businesses began to focus on cutting costs, generating savings, and securing liquidity to allow them to survive another wave of restrictions and a potential freeze on individual sectors of the economy. As a result, EAM is critical during the Coronavirus, when businesses are searching for ways to save money while optimizing operations and increasing the efficiency of the resources at their disposal. Successful digital transformation in this sector results in a significant increase in the financial performance of the organization. As a result, the COVID-19 epidemic benefited the corporate asset management sector.

MARKET ESTIMATION:

The practice of maximizing earnings generated by assets during their lives is known as asset lifecycle management. It consists of a few inter-management procedures that assist produce desired outcomes, such as comprehensive asset portfolio management, rigorous project execution, and effective and efficient asset management methods. It contributes to increased organizational efficiency by assisting end-users in making educated decisions about IT needs and services. It also contributes to increased organizational efficiency by assisting firms in making educated decisions about their IT needs and services. Most EAM providers provide an asset lifecycle management solution to optimize asset lifecycle operations, minimize maintenance costs, and increase IT service quality.

The on-premises version of EAM is mostly favored by firms that require control over the security of consumer and company information. This deployment is deployed and hosted on the organizations’ IT infrastructure, and it is maintained by their own IT staff. On-premises implementation of EAM systems necessitates a significant initial investment by enterprises but does not necessitate ongoing expenditures as does cloud deployment. Customers' private data security concerns are a primary factor for choosing on-premises deployments over cloud deployments. It is difficult for IT staff to upgrade on-premises systems on a regular basis.

The market is divided into Small and Medium-Sized Enterprises and Large Enterprises based on Organization Size. Because of the increased need for enterprise asset management among small and medium-sized businesses, especially to maximize resource utilization and remain competitive in the market, the small and medium-sized enterprises sector is expected to develop at a faster CAGR during the forecast period. Furthermore, the increasing number of small and medium-sized enterprises joining the market is a significant element driving category growth.

KEY MARKET SEGMENTS:

On The Basis of Component

  • Solution

  • Services

On The Basis of Deployment Model

  • On-Premise

  • Cloud

On The Basis of Enterprise Size

  • Large Enterprises

  • Small and Medium-Sized Enterprises

On The Basis of Application

  • Asset Lifecycle Management

  • Predictive Maintenance

  • Facility Management

  • Inventory Management

  • Labor Management

  • Work Order Management

  • Others

On The Basis of Industry Vertical

  • Energy and Utility

  • Transportation and Logistics

  • Manufacturing

  • Healthcare & Life Science

  • Government & Public Sector

  • Education

  • IT and Telecommunications

  • Others

Enterprise Asset Management (EAM) Software Market Segmentation Analysis

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REGIONAL ANALYSIS:

North America is predicted to have the highest revenue share of the enterprise asset management (EAM) market during the forecast period. This is due to the expansion of the region's IT sector. The region's enterprise asset management (EAM) market growth is also affected by improving employment rates and firms' focus on innovation and business efficiency. Furthermore, the North American industrial revolution is driving the expansion of the region's enterprise asset management (EAM) industry. Other factors influencing the region's enterprise asset management market growth include a focus on asset usage, predictive utilization, and supply chain security.

REGIONAL COVERAGE:

  • North America

    • USA

    • Canada

    • Mexico

  • Europe

    • Germany

    • UK

    • France

    • Italy

    • Spain

    • The Netherlands

    • Rest of Europe

  • Asia-Pacific

    • Japan

    • south Korea

    • China

    • India

    • Australia

    • Rest of Asia-Pacific

  • The Middle East & Africa

    • Israel

    • UAE

    • South Africa

    • Rest of Middle East & Africa

  • Latin America

    • Brazil

    • Argentina

    • Rest of Latin America

KEY PLAYERS:

The major key players are ABB Ltd., Assets Works, LLC, CGI Group Inc., IFS, IBM Corporation, Infor, Oracle Corporation, SAP SE, SSG Insights, UpKeep Technologies, Inc. & Other Players.

Assets Works, LLC​​​​​​​​​​​​​​-Company Financial Analysis

Company Landscape Analysis​​​​​​​

Enterprise Asset Management (EAM) Software Market Report Scope:
Report Attributes Details
 Market Size in 2022

 US$ 4.04 Bn

 Market Size by 2030

 US$ 8.14 Bn

 CAGR 

 CAGR of 9.13% From 2023 to 2030

 Base Year

 2022

 Forecast Period

 2023-2030

 Historical Data

 2020-2021

 Report Scope & Coverage

Market Size, Segments Analysis, Competitive  Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook

 Key Segments

• By Component (Solution and Services)
• By Deployment Model (On-Premise and Cloud)
• By Enterprise Size (Large Enterprises and Small and Medium-Sized Enterprises)
• By Application (Asset Lifecycle Management, Predictive Maintenance, Facility Management, Inventory Management, Labor Management, Work Order Management, Others)
• By Industry Vertical (Energy and Utility, Transportation and Logistics, Manufacturing, Healthcare & Life Science, Government & Public Sector, Education, IT and Telecommunications, Others)

 Regional Analysis/Coverage

North America (USA, Canada, Mexico), Europe
(Germany, UK, France, Italy, Spain, Netherlands,
Rest of Europe), Asia-Pacific (Japan, South Korea,
China, India, Australia, Rest of Asia-Pacific), The
Middle East & Africa (Israel, UAE, South Africa,
Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America)

 Company Profiles

ABB Ltd., Assets Works, LLC, CGI Group Inc., IFS, IBM Corporation, Infor, Oracle Corporation, SAP SE, SSG Insights, and UpKeep Technologies, Inc.

 Key Drivers

• Growing use of IoT platforms and devices for asset management in enterprises
• Overheads are eliminated as a result of compliance

 Opportunity

• The need to extend the life of assets through the use of sophisticated technology
• Adoption of a digital asset management approach to improve asset return

 

Frequently Asked Questions

Ans: - The major key players are ABB Ltd., Assets Works, LLC, CGI Group Inc., IFS, IBM Corporation, Infor, Oracle Corporation, SAP SE, SSG Insights, and UpKeep Technologies, Inc.

Ans: - The Enterprise Asset Management (EAM) Software Market size is estimated to reach USD 8.14 Bn by 2030.

Ans: - The Enterprise Asset Management (EAM) Software market is to grow at a CAGR of 9.13% over the forecast period 2023-2030.

Ans: - Enterprises are increasingly shifting away from traditional asset management systems and toward contemporary asset management.  

Ans: - The estimated market size for the Enterprise Asset Management (EAM) Software market for the year 2028 is USD 6.83 Bn.

Table of Contents

1. Introduction

1.1 Market Definition

1.2 Scope

1.3 Research Assumptions

2. Research Methodology

3. Market Dynamics

3.1 Drivers

3.2 Restraints

3.3 Opportunities

3.4 Challenges

4. Impact Analysis

4.1 COVID-19 Impact Analysis

4.2 Impact of Ukraine- Russia war

4.3 Impact of ongoing Recession

4.3.1 Introduction

4.3.2 Impact on major economies

4.3.2.1 US

4.3.2.2 Canada

4.3.2.3 Germany

4.3.2.4 France

4.3.2.5 United Kingdom

4.3.2.6 China

4.3.2.7 Japan

4.3.2.8 South Korea

4.3.2.9 Rest of the World

 

5. Value Chain Analysis

 

6. Porter’s 5 forces model

 

7.  PEST Analysis

8. Enterprise Asset Management (EAM) Software Market Segmentation, by Component

8.1 Solution

8.2 Services

9. Enterprise Asset Management (EAM) Software Market Segmentation, by Deployment Model

9.1 On-Premise

9.2 Cloud

10. Enterprise Asset Management (EAM) Software Market Segmentation, by Enterprise Size

10.1 Large Enterprises

10.2 Small and Medium-Sized Enterprises

11. Enterprise Asset Management (EAM) Software Market Segmentation, by Application

11.1 Asset Lifecycle Management

11.2 Predictive Maintenance

11.3 Facility Management

11.4 Inventory Management

11.5 Labor Management

11.6 Work Order Management

11.7 Others

12. Enterprise Asset Management (EAM) Software Market Segmentation, by Industry Vertical

12.1 Energy and Utility

12.2 Transportation and Logistics

12.3 Manufacturing

12.4 Healthcare & Life Science

12.5 Government & Public Sector

12.6 Education

12.7 IT and Telecommunications

12.8 Others

13. Regional Analysis

13.1 Introduction

13.2 North America

13.2.1 USA

13.2.2 Canada

13.2.3 Mexico

13.3 Europe

13.3.1 Germany

13.3.2 UK

13.3.3 France

13.3.4 Italy

13.3.5 Spain

13.3.6 The Netherlands

13.3.7 Rest of Europe

13.4 Asia-Pacific

13.4.1 Japan

13.4.2 South Korea

13.4.3 China

13.4.4 India

13.4.5 Australia

13.4.6 Rest of Asia-Pacific

13.5 The Middle East & Africa

13.5.1 Israel

13.5.2 UAE

13.5.3 South Africa

13.5.4 Rest

13.6 Latin America

13.6.1 Brazil

13.6.2 Argentina

13.6.3 Rest of Latin America

14. Company Profiles

14.1 ABB Ltd.

14.1.1 Financial

14.1.2 Products/ Services Offered

14.1.3 SWOT Analysis

14.1.4 The SNS view

14.2 Assets Works, LLC

14.3 CGI Group Inc.

14.4 IFS

14.5 IBM Corporation

14.6 Infor

14.7 Oracle Corporation

14.8 SAP SE

14.9 SSG Insights

14.10 Up Keep Technologies, Inc.

15. Competitive Landscape

15.1 Competitive Benchmarking

15.2 Market Share Analysis

15.3 Recent Developments

16. Conclusion

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Secondary Research

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This step involves the triangulation of data wherein our team analyses the interview transcripts, online survey responses and observation of on filed participants. The below mentioned chart should give a better understanding of the part 1 of the primary interview.

Primary Research

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Data Bank Validation

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