Market Highlights

The global enterprise asset management market will contact USD 8 billion at a 11% CAGR in the conjecture time frame (2020-2027), states the most recent Market Research Future (MRFR) report.

Drivers

Shift to Modern Asset Management to Boost Market Growth

The expanding movement to current resource the board by undertakings from inheritance the executives techniques will help market development over the conjecture time frame.

Amazing open doors

Assembly of Technologies to offer Robust Opportunities

The assembly of innovations like examination, IoT, and AI combined with tendency of associations towards cloud-put together arrangements for defeating with respect to start limits will offer strong open doors for the market over the figure time frame.

Restrictions and Challenges

Significant expense of Enterprise Asset Management to act as Market Restraint

The significant expense of big business resource the board combined with absence of mindfulness might go about as market limitation over the conjecture time frame.

Coronavirus Analysis

During the COVID-19 pandemic the interest for benterprise asset management the executives has been consistent anyway this need is expected to be blocked by the decrease in modern consumption financial plans for lockdowns forced around the world. The lockdowns likewise prompted serious misfortunes to business across the globe and has additionally positioned limitations on live performances, theaters, shows, and worldwide occasions that are affecting business sector development. The market anyway is recuperating at a high speed that can be ascribed to the remote working patterns embraced by a few organizations to control the spread of the infection at working environments. The business anyway resembles to confront difficulties for the impacts of the pandemic soon.

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Segmentation:

The enterprise asset management market is bifurcated based on application, organization type, and deployment.



By deployment, the on-cloud segment will lead the market over the forecast period for the increasing preference of cloud-based solutions on a global level.

By organization type, the SMEs will dominate the market over the forecast period for the increased adoption of EAMs by SMEs as there is a rise in demand for domain-specific technical personnel and skilled workforce.

By application, the government segment will spearhead the segment over the forecast period for the wide range of application enterprise asset management in different government sectors.

Regional Analysis

North America to Steer Enterprise Asset Management Market

North America will steer the market over the forecast period. Rapid adoption of EAM solutions by organizations, strong economic conditions, rising number of SMEs, effective asset utilization, developed IT infrastructure, strong inclination of regional firms on predictive utilization, the growing need for meeting the strict regulations, the strong presence of EAM vendors, rising investments by public and private players for better management of their equipment and assets, and strong focus on integrating EAM solutions with next-generation technologies like computer vision, internet of things, and machine learning are adding to the global enterprise asset management market growth in the region. Besides, companies considerably proliferating in the region, expanding construction and building information industries, SMEs’ accessibility, digitalization, and connectivity, and players in the market intensely emphasizing to introduce advanced EAM & predictive maintenance solutions that offer support to maximize asset utilization, AI-powered monitoring, and real-time data collection are also adding market growth.

Key Players

Leading players profiled in the global enterprise asset management market report include SAP SE (Germany), Infor (U.S.), IBM (U.S.), Oracle Corporation (U.S.), Schneider Electric (France), AssetWorks LLC (U.S.), IFS AB (Sweden), ABB Group (Switzerland), Mintek Mobile Data Solutions (U.S.), Ramco Systems (India) among others.

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Global Remote Asset Management Market, by Solutions (Predictive Maintenance, Analytics, Asset Condition Monitoring & Performance Management), by Application (Automation, Healthcare and Wellness, Retail, Utilities and Smart Grids, Production Monitoring) - Forecast 2027

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