The Enterprise Asset Management Market is predicted to close in on a valuation of US$ 3.21 Bn in 2022 and US$ 4.86 Bn by 2028, surging ahead at a CAGR of 7.1% from 2022 to 2028. Future Market Insights has recently published a market research report titled “Enterprise Asset Management Market – Global Industry Analysis 2014 – 2021 and Opportunity Assessment 2022 – 2028.” The growth of Artificial Intelligence (AI) and drone-based enterprise solutions are among the factors driving the enterprise asset management market. AI helps improve data handling to make better decisions.

When installing the EAM system, which provides precise information on the identities, materials, and supplies, asset visibility is a crucial component. Effective asset management reduces fixed capital investments and controls or eliminates overstocking and hoarding. EAM software provides more reliable analytical solutions for process analysis, asset management, and preventative maintenance.

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EAM Is Rapidly Integrating with IoT

IoT-based apps are being used more frequently as a result of the expanding IoT deployment in smartphones and laptops. Identification of performance and control adjustments is made possible by the integration of IoT with EAM. IoT applications improve data administration, asset utilisation tracking, and data streamlining to enable analysis of asset lifecycle and maintenance.

Companies can detect issues with their assets by integrating IoT and EAM systems. It is anticipated that the growth of smart cities would heavily rely on the integration of IoT with EAM technologies. Smart cities keep an eye on the health of all their vital infrastructure.

Companies are focused on asset-intensive platforms to continuously track, assess, and manage reliability as well as technology and human assets as a result of the growing demand for ensuring asset performance and advanced environmental sustainability. During the projection period of 2022 to 2028, the worldwide enterprise asset management market is anticipated to register an approximately incremental potential of US$ 5,500 Mn for the usage of asset-intensive systems to offer effective data management and enhanced asset utilisation.

FMI has segmented the worldwide enterprise asset management market by deployment, by component, by industrial verticals, and by geography in its analysis on the market. The worldwide enterprise asset management market is divided into software and services based on component. The adoption of cloud-based deployment is anticipated to create significant growth prospects for the suppliers of enterprise asset management software due to the optimistic prognosis for the rising demand for next-generation tracking solutions.

Additionally, the projected period is anticipated to have a strong CAGR for the software sub-segment. The widespread use of these devices in IoT applications to reduce errors is responsible for this growth.

Competitive Landscape

Major EAM vendors are investing efforts beyond traditional asset management as businesses now seek additional benefits from enterprise asset management solutions.

  • Oracle Corporation
  • SAP SE
  • Schneider Electric SE
  • AB Co., Ltd.
  • MRI Software LLC
  • CGI Co., Ltd.
  • Industrial and Financial Services (IFS) AB

Key Segments of Enterprise Asset Management Industry Research

Enterprise Asset Management Market by Deployment:

  • On-premise Enterprise Asset Management
  • Cloud Enterprise Asset Management

Enterprise Asset Management Market by Industry:

  • Government
  • Healthcare
  • Manufacturing
  • Transportation & Logistics
  • Oil & Gas
  • Banking & Finance
  • Retail
  • Others

Enterprise Asset Management Market by Region:

  • North America Enterprise Asset Management Market
  • Latin America Enterprise Asset Management Market
  • Europe Enterprise Asset Management Market
  • East Asia Enterprise Asset Management Market
  • South Asia & Pacific Enterprise Asset Management Market
  • Middle East & Africa (MEA) Enterprise Asset Management Market