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Global Enterprise Asset Management (EAM) Market – Analysis and Forecast (2019-2024)

The global enterprise asset management (EAM) market is projected to reach USD 8.8 billion by 2024, registering a CAGR of 13.3% during the forecast period. Increasing adoption of EAM for effective utilization of assets, and reduced maintenance and procurement expenses, propelling the growth of the market.

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Global Enterprise Asset Management (EAM) Market – Analysis and Forecast (2019-2024)

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  1. Global Enterprise Asset Management (EAM) Market

  2. About VynZ Research… • VynZ Research is a global market research firm offering research, analytics, and consulting services on business strategies. We have a recognized trajectory record and our research database is used by many renowned companies and institutions in the world to strategize and revolutionize business opportunities. The company focuses on providing valuable insights on various technology verticals such as Chemicals, Automotive, Transportation, Energy, Consumer Durables, Healthcare, ICT and other emerging technologies. • VynZ Research has one of the most qualified & experienced analysts, who are constantly tracking the markets and the technologies. The research team has years of proven experience and wide knowledge & understanding of the technology, application, business models, and regulators of the segments and the value chain involved. • A trusted & proven methodology that involves highest quality of primary research, secondary analysis collated & verified through various sources including cross checking with different industry experts. • Serving wide range of customers most of them from Fortune 2000 companies • With a dedicated 24x7 customer helpline our customers can reach for specifying their needs • Developing long term relationship with the clients and satisfying them is one of the crucial notches of the company. VynZ Research aims at gaining and retaining its clients in order to make long term customer relationship.

  3. Enterprise Asset Management (EAM) Market The global enterprise asset management (EAM) market is projected to reach USD 8.8 billion by 2024, registering a CAGR of 13.3% during the forecast period. Increasing adoption of EAM for effective utilization of assets, and reduced maintenance and procurement expenses, propelling the growth of the market.

  4. Enterprise Asset Management (EAM) Market On the basis of component, the global enterprise asset management market is categorized into software, service, and solution, wherein software category accounted for the largest share in 2018. The category is expected to lead throughout the forecast period owing to the mounting need for effective capital planning processes, asset maintenance, and operations. Further, software category is sub-segmented into linear assets, field service management, non-linear assets, assets maintenance, repair, and operations. Further, service category is sub-categorized into managed and professional. Further, solution category is sub-segmented into planning and forecasting, logistics and inventory, network field operations, asset transfer and retirement, procurement of material.

  5. Enterprise Asset Management (EAM) Market Global enterprise asset management market has been driven by several key factors, predominantly increasing adoption of EAM for effective utilization of assets, reduced maintenance and procurement expenses, and improved return on assets. Increasing adoption of enterprise asset management by the enterprises to efficiently manage assets, machines, IT, buildings, and others. EAM also helps in reducing machine downtime by preventing the malfunction of machines or equipment’s, with the timely maintenance of assets.

  6. Enterprise Asset Management (EAM) Market Market players in the global enterprise asset management industry are majorly focusing on mergers & acquisitions to expand their customer base. For example, in November 2018, Bentley Systems Incorporated acquired ACE enterprise Slovakia. With this acquisition, the company aims to increase the scope of knowledge that can be accessed through AssetWise. In April 2017, ABB Ltd., and International Business Machines (IBM) Corporation collaborated to expand and upgrade ABB’s existing asset and analytics implementation with IBM Watson’s cognitive abilities and ABB Agility. Some of the key players operating in the global enterprise asset management market are Industrial and Financial Systems (IFS) AB, Infor Inc., Ramco Systems Limited, Bentley Systems Incorporated, Rockwell Automation Inc., SAP SE, ABB Ltd., International Business Machines (IBM) Corporation, Schneider Electric SE, MRI Software LLC, CGI Group Inc., and AssetWorks LLC.

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