Global Enterprise Asset Management (EAM) Market: Overview
The ideal lifecycle management solution that deals with the benefits of an organization in asset management is named as Enterprise Asset Management (EAM). Moreover, the subjects secured by EAM comprises of tasks, structure, and decommissioning of production plant among others. Switching to an enterprise management system enables businesses to lessen their production and maintenance costs. Other than this, rise of EAM has brought down the production costs, work costs, helped support profitability and diminished hardware breakdowns. Owing to these benefits, the global enterprise asset management (EAM) market is experiencing a bloated growth in the forecast period of 2018 to 2026.
A recent report by Transparency Market Research offers an in-depth analysis of the global enterprise asset management (EAM) market. It also enlightens various facets of the market such as notable developments, key drivers and restraints, and opportunities for the businesses. The report also offers a detailed regional analysis of global enterprise asset management market.
Global Enterprise Asset Management (EAM) Market: Notable Developments
Major players are investing heavily in the efforts to surpass the traditional asset management for their business. This is because businesses are seeking additional benefits from enterprise asset management solutions. In addition to providing access of organizational asset information to every department and employee at every location, the latest industry trend includes enterprise asset management solutions that also involve several other important factors, such as energy usage, lifecycle costs, maintenance histories, warranty catalogs, purchase orders, audit records, and others.
In November 2018, Bentley Systems Incorporated acquired ACE enterprise Slovakia, an innovative technology solutions provider, to connect with enterprise resource planning (ERP), EAM, and geographical information systems (GIS). With this acquisition, the business focuses on expanding the scope of data that can be accessed through the database of the acquired company.
Some of the prominent players of the global enterprise asset management market are: Oracle Corporation, SAP SE, ABB Ltd., International Business Machines (IBM) Corporation, Schneider Electric SE, and MRI Software LLC. Some other player such as, CGI Group Inc., Industrial and Financial Systems (IFS) AB, Infor Inc., Ramco Systems Limited, Bentley Systems Incorporated, Rockwell Automation Inc., and AssetWorks LLC are also key contributors to the global enterprise asset management (EAM) market.
Global Enterprise Asset Management (EAM) Market: Key Drivers and Restraints
Enterprises require EAM for management of assets, buildings, machines, IT and other enterprise assets. Return on assets (ROA) shows how profitable a company’s assets are in generating revenue. These benefits are the key contributors of the growth of global enterprise asset management (EAM) market.
EAM offers timely maintenance of assets that helps to prevent the malfunction of machines or equipment and thus, reduces machine downtime. EAM extends the life of assets that allows businesses to save a huge amount which can be utilized in various other processes in the business and it also avoids decommissioning of the existing assets. EAM software optimizes the utilization and productivity of company resources and hence in turn increases the ROA. Owing to these factors the growth of global enterprise asset management market has bloated in forecast period of 2018 to 2026.
Global Enterprise Asset Management (EAM) Market: Regional Analysis
North America is expected to hold the largest share of revenue of enterprise asset management (EAM) market in the forecast period. This is because of the growth of the IT sector in the region. The growth of the enterprise asset management (EAM) market in the region is also influenced by improving employment rate and focus of enterprises on innovation and business efficiency. Also, the industrial revolution in North America is also promoting the growth of enterprise asset management (EAM) market in the region. Some other factors helping the enterprise asset management market to grow in the region are, focus on asset utilization, predictive utilization, and safeguarding supply chain management.
The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.
The study is a source of reliable data on:
- Market segments and sub-segments
- Market trends and dynamics
- Supply and demand
- Market size
- Current trends/opportunities/challenges
- Competitive landscape
- Technological breakthroughs
- Value chain and stakeholder analysis
The regional analysis covers:
- North America (U.S. and Canada)
- Latin America (Mexico, Brazil, Peru, Chile, and others)
- Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
- Eastern Europe (Poland and Russia)
- Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
- Middle East and Africa (GCC, Southern Africa, and North Africa)
The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.
A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.
Highlights of the report:
- A complete backdrop analysis, which includes an assessment of the parent market
- Important changes in market dynamics
- Market segmentation up to the second or third level
- Historical, current, and projected size of the market from the standpoint of both value and volume
- Reporting and evaluation of recent industry developments
- Market shares and strategies of key players
- Emerging niche segments and regional markets
- An objective assessment of the trajectory of the market
- Recommendations to companies for strengthening their foothold in the market
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.