Enterprise Asset Management Market, Till 2035: Distribution by Type of Component, Solution, Service, Deployment Mode, Organization, Application, End User, and Key Geographical Regions: Industry Trends and Global Forecasts
As per Roots Analysis, the global enterprise asset management market size is estimated to grow from USD 6.6 billion in the current year to USD 21.33 billion by 2035, at a CAGR of 11.26% during the forecast period, till 2035.
The opportunity for enterprise asset management market has been distributed across the following segments:
Type of Component
Services
Solutions
Type of Solution
Asset Lifecycle Management
Core Asset Management
Facility Management
Inventory Management
Maintenance Management
Work Order Management
Type of Service
Managed Services
Professional Services
Type of Deployment Mode
Cloud-based
Hybrid
On-Premises
Type of Organization
Large Enterprises
Small and Medium Enterprises
Type of Application
Asset MRO
Field Service Management
Inventory Management
Labor Management
Linear Assets
Non-Linear Assets
Predictive Maintenance
Type of End Use
BFSI
Education
Government & Public Sector
Healthcare
IT and Telecommunication
Aerospace and Defense
Manufacturing
Oil and Gas
Retail
Transport and Logistics
Others
Geographical Regions
North America
US
Canada
Mexico
Other North American countries
Europe
Austria
Belgium
Denmark
France
Germany
Ireland
Italy
Netherlands
Norway
Russia
Spain
Sweden
Switzerland
UK
Other European countries
Asia
China
India
Japan
Singapore
South Korea
Other Asian countries
Latin America
Brazil
Chile
Colombia
Venezuela
Other Latin American countries
Middle East and North Africa
Egypt
Iran
Iraq
Israel
Kuwait
Saudi Arabia
UAE
Other MENA countries
Rest of the World
Australia
New Zealand
Other countries
ENTERPRISE ASSET MANAGEMENT MARKET: GROWTH AND TRENDS
Enterprise asset management (EAM) leverages systems, tools, sensors, processes, and EAM software technology to oversee assets throughout their lifecycle. These assets encompass a range of equipment, machinery, vehicles, facilities, and other physical infrastructure. The goal of EAM is to optimize an asset's uptime, use, and longevity while reducing operational expenses, improving asset functionality, and adhering to regulatory standards. With advancements in technology, EAM software has become a more streamlined tool for managing assets, providing a thorough understanding of asset health.
The growing recognition of the benefits of EAM solutions for asset tracking, lifecycle management, inventory management, and predictive management is driving the demand for EAM software and solutions across industries that process and transport valuable materials and intricate assets to extend their lifecycle while minimizing inventory costs. Further, the increasing trend of AI-driven predictive maintenance and generative AI is altering how organizations manage and optimize their assets. AI-driven solutions can anticipate equipment failures by evaluating sensor data, historical records, and operational conditions.
Moreover, the expanding range of end-user industries, including BFSI, education, government and public sector, healthcare, IT and telecommunications, aerospace and defense, manufacturing, and others, are increasingly adopting EAM software solutions and services. Given this reality, industry participants are progressively adopting cutting-edge technology and improving the capabilities of their software and solutions. As a result, the heightened demand for operational efficiency across various sectors to optimize asset utilization, reduce downtime, and lower operational costs, along with the rising adoption of cloud-based software integrated with AI and IoT technology, the enterprise asset management market is expected to experience significant growth during the forecast period.
ENTERPRISE ASSET MANAGEMENT MARKET: KEY SEGMENTS
Market Share by Type of Component
Based on type of component, the global enterprise asset management market is segmented into software and services. According to our estimates, currently, software segment captures the majority share of the market. This can be attributed to the essential functions of the enterprise asset management (EAM) system, which provides vital capabilities for managing assets, such as tracking, maintenance, scheduling, work order management, and inventory management.
These functionalities are fundamental to the effectiveness of any EAM system. However, the services segment is expected to grow at a relatively higher CAGR during the forecast period.
Market Share by Type of Solution
Based on type of solution, the enterprise asset management market is segmented into asset lifecycle management, core asset management, facility management, inventory management, maintenance management, and work order management. According to our estimates, currently, asset lifecycle management solution captures the majority of the market.
This can be attributed to the advantages of asset lifecycle management systems, such as monitoring asset performance, maximizing asset usage, and strategizing for asset replacement. Moreover, features like lifecycle cost analysis and capital planning and budgeting are boosting the demand for this solution.
Market Share by Type of Service
Based on type of service, the enterprise asset management market is segmented into managed services and professional services. According to our estimates, currently, professional services segment captures the majority share of the market. This can be attributed to the importance of these services in the effective implementation and enhancement of EAM solutions, as they ensure organizations maximize their EAM investment and achieve their asset management objectives.
However, the managed services segment is expected to grow at a relatively higher CAGR during the forecast period. This can be attributed to the rising trend of outsourcing specific asset management tasks, allowing businesses to concentrate on their core activities while leveraging specialized expertise.
Market Share by Mode of Deployment
Based on mode of deployment, the enterprise asset management market is segmented into cloud-based, hybrid, and on-premises. According to our estimates, currently, the cloud-based deployment captures the majority share of the market. This growth can be attributed to the convenience and scalability provided by cloud-based software solutions, which allow users to access services from any location with an internet connection, supporting a remote and mobile workforce.
Additionally, the cost-effectiveness of cloud deployment, due to its subscription-based pricing model, makes it more affordable for small and medium-sized enterprises (SMEs), thus stimulating the growth of this segment.
However, on-premises deployment is expected to grow at a relatively higher CAGR during the forecast period. This can be attributed to enhanced data security, greater organizational control, and the ability to meet specific performance requirements.
Market Share by Type of Organization
Based on type of organization, the enterprise asset management market is segmented into large and small and medium enterprise. According to our estimates, currently, the large enterprise segment captures the majority share of the market. This can be attributed to the fact that large enterprises make significant investments in comprehensive EAM solutions to address their intricate asset management requirements due to their extensive and varied portfolios, including physical infrastructure, machinery, equipment, and vehicles that demand effective EAM solutions.
On the other hand, the small and medium enterprise segment is anticipated to experience a higher growth rate during the forecast period, as they are also progressively adopting EAM solutions and services driven by advancements in technologies like AI and IoT, which enhance the capabilities of these solutions in a cost-effective manner.
Market Share by Type of Application
Based on type of application, the enterprise asset management market is segmented into asset MRO, field service management, inventory management, labor management, linear assets, non-linear assets, and predictive maintenance. According to our estimates, currently, predictive maintenance segment captures the majority share of the market.
This can be attributed to its significant role in minimizing downtime, prolonging asset lifespan, and optimizing maintenance. On the other hand, the asset MRO segment is anticipated to experience a higher growth rate during the forecast period.
Market Share by Type of End User
Based on type of end user, the enterprise asset management market is segmented into BFSI, education, government & public sector, healthcare, IT and telecommunication, aerospace, defense, manufacturing, oil and gas, retail, transport and logistics, and others. According to our estimates, currently, manufacturing segment captures the majority share of the market. Notably, the rapid pace of industrialization and automation has prompted the manufacturing sector to embrace digital technologies for improved service and field operations.
Since EAM solutions enable manufacturers to enhance asset performance, minimize costs, and avert unexpected downtimes, there is a growing trend towards using software solutions to boost operational efficiency and productivity within the manufacturing industry. On the other hand, the government and public sector is anticipated to experience a higher growth rate during the forecast period.
Market Share by Geographical Regions
Based on geographical regions, the enterprise asset management market is segmented into North America, Europe, Asia, Latin America, Middle East and North Africa, and the rest of the world. According to our estimates, currently, North America captures the majority share of the market. This can be attributed to high rate of advanced technology adoption, an increasing prevalence of cloud-based deployments, and a growing emphasis on operational efficiency in enterprises. Furthermore, the presence of numerous industry players in the region significantly contributes to the growth of the market in North America.
However, the market in Asia is expected to grow at a higher CAGR during the forecast period. The swift development of infrastructure, including transportation systems, utilities, smart homes, smart cities, and industrial growth, has heightened the demand for enterprise asset management solutions to effectively manage and maintain assets. Moreover, the expanding manufacturing sector and the growing implementation of Industry 4.0 technologies are likely to further boost market growth in Asia Pacific.
Example Players in Enterprise Asset Management Market
AB
Aptean
Asset Works
Bentley System
CGI
Hexagon
IFS Infor
International Business Machines (IBM)
Oracle
PcsInfinity (Asset Infinity)
Sage Group
SAP SE
Ultimo
ENTERPRISE ASSET MANAGEMENT MARKET: RESEARCH COVERAGE
The report on the enterprise asset management market features insights on various sections, including:
Market Sizing and Opportunity Analysis: An in-depth analysis of the enterprise asset management market, focusing on key market segments, including [A] type of component, [B] type of solution, [C] type of service, [D] type of deployment mode, [E] type of organization, [F] type of application, [G] type of end user, and [H] key geographical regions.
Competitive Landscape: A comprehensive analysis of the companies engaged in the Enterprise asset management market, based on several relevant parameters, such as [A] year of establishment, [B] company size, [C] location of headquarters and [D] ownership structure.
Company Profiles: Elaborate profiles of prominent players engaged in the Enterprise asset management market, providing details on [A] location of headquarters, [B] company size, [C] company mission, [D] company footprint, [E] management team, [F] contact details, [G] financial information, [H] operating business segments, [I] Enterprise asset management portfolio, [J] moat analysis, [K] recent developments, and an informed future outlook.
SWOT Analysis: An insightful SWOT framework, highlighting the strengths, weaknesses, opportunities and threats in the domain. Additionally, it provides Harvey ball analysis, highlighting the relative impact of each SWOT parameter.
Value Chain Analysis: A comprehensive analysis of the value chain, providing information on the different phases and stakeholders involved in the Enterprise asset management market.
KEY QUESTIONS ANSWERED IN THIS REPORT
How many companies are currently engaged in enterprise asset management market?
Which are the leading companies in this market?
What factors are likely to influence the evolution of this market?
What is the current and future market size?
What is the CAGR of this market?
How is the current and future market opportunity likely to be distributed across key market segments?
REASONS TO BUY THIS REPORT
The report provides a comprehensive market analysis, offering detailed revenue projections of the overall market and its specific sub-segments. This information is valuable to both established market leaders and emerging entrants.
Stakeholders can leverage the report to gain a deeper understanding of the competitive dynamics within the market. By analyzing the competitive landscape, businesses can make informed decisions to optimize their market positioning and develop effective go-to-market strategies.
The report offers stakeholders a comprehensive overview of the market, including key drivers, barriers, opportunities, and challenges. This information empowers stakeholders to stay abreast of market trends and make data-driven decisions to capitalize on growth prospects.
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TABLE OF CONTENTS
1. PREFACE
1.1. Introduction
1.2. Market Share Insights
1.3. Key Market Insights
1.4. Report Coverage
1.5. Key Questions Answered
1.6. Chapter Outlines
2. RESEARCH METHODOLOGY
2.1. 2.1. Chapter Overview
2.2. Research Assumptions
2.3. Database Building
2.3.1. Data Collection
2.3.2. Data Validation
2.3.3. Data Analysis
2.4. Project Methodology
2.4.1. Secondary Research
2.4.1.1. Annual Reports
2.4.1.2. Academic Research Papers
2.4.1.3. Company Websites
2.4.1.4. Investor Presentations
2.4.1.5. Regulatory Filings
2.4.1.6. White Papers
2.4.1.7. Industry Publications
2.4.1.8. Conferences and Seminars
2.4.1.9. Government Portals
2.4.1.10. Media and Press Releases
2.4.1.11. Newsletters
2.4.1.12. Industry Databases
2.4.1.13. Roots Proprietary Databases
2.4.1.14. Paid Databases and Sources
2.4.1.15. Social Media Portals
2.4.1.16. Other Secondary Sources
2.4.2. Primary Research
2.4.2.1. Introduction
2.4.2.2. Types
2.4.2.2.1. Qualitative
2.4.2.2.2. Quantitative
2.4.2.3. Advantages
2.4.2.4. Techniques
2.4.2.4.1. Interviews
2.4.2.4.2. Surveys
2.4.2.4.3. Focus Groups
2.4.2.4.4. Observational Research
2.4.2.4.5. Social Media Interactions
2.4.2.5. Stakeholders
2.4.2.5.1. Company Executives (CXOs)
2.4.2.5.2. Board of Directors
2.4.2.5.3. Company Presidents and Vice Presidents
2.4.2.5.4. Key Opinion Leaders
2.4.2.5.5. Research and Development Heads
2.4.2.5.6. Technical Experts
2.4.2.5.7. Subject Matter Experts
2.4.2.5.8. Scientists
2.4.2.5.9. Doctors and Other Healthcare Providers
2.4.2.6. Ethics and Integrity
2.4.2.6.1. Research Ethics
2.4.2.6.2. Data Integrity
2.4.3. Analytical Tools and Databases
3. ECONOMIC AND OTHER PROJECT SPECIFIC CONSIDERATIONS
3.1. Forecast Methodology
3.1.1. Top-Down Approach
3.1.2. Bottom-Up Approach
3.1.3. Hybrid Approach
3.2. Market Assessment Framework
3.2.1. Total Addressable Market (TAM)
3.2.2. Serviceable Addressable Market (SAM)
3.2.3. Serviceable Obtainable Market (SOM)
3.2.4. Currently Acquired Market (CAM)
3.3. Forecasting Tools and Techniques
3.3.1. Qualitative Forecasting
3.3.2. Correlation
3.3.3. Regression
3.3.4. Time Series Analysis
3.3.5. Extrapolation
3.3.6. Convergence
3.3.7. Forecast Error Analysis
3.3.8. Data Visualization
3.3.9. Scenario Planning
3.3.10. Sensitivity Analysis
3.4. Key Considerations
3.4.1. Demographics
3.4.2. Market Access
3.4.3. Reimbursement Scenarios
3.4.4. Industry Consolidation
3.5. Robust Quality Control
3.6. Key Market Segmentations
3.7. Limitations
4. MACRO-ECONOMIC INDICATORS
4.1. Chapter Overview
4.2. Market Dynamics
4.2.1. Time Period
4.2.1.1. Historical Trends
4.2.1.2. Current and Forecasted Estimates
4.2.2. Currency Coverage
4.2.2.1. Overview of Major Currencies Affecting the Market
4.2.2.2. Impact of Currency Fluctuations on the Industry
4.2.3. Foreign Exchange Impact
4.2.3.1. Evaluation of Foreign Exchange Rates and Their Impact on Market
4.2.3.2. Strategies for Mitigating Foreign Exchange Risk
4.2.4. Recession
4.2.4.1. Historical Analysis of Past Recessions and Lessons Learnt
4.2.4.2. Assessment of Current Economic Conditions and Potential Impact on the Market
4.2.5. Inflation
4.2.5.1. Measurement and Analysis of Inflationary Pressures in the Economy
4.2.5.2. Potential Impact of Inflation on the Market Evolution
4.2.6. Interest Rates
4.2.6.1. Overview of Interest Rates and Their Impact on the Market
4.2.6.2. Strategies for Managing Interest Rate Risk
4.2.7. Commodity Flow Analysis
4.2.7.1. Type of Commodity
4.2.7.2. Origins and Destinations
4.2.7.3. Values and Weights
4.2.7.4. Modes of Transportation
4.2.8. Global Trade Dynamics
4.2.8.1. Import Scenario
4.2.8.2. Export Scenario
4.2.9. War Impact Analysis
4.2.9.1. Russian-Ukraine War
4.2.9.2. Israel-Hamas War
4.2.10. COVID Impact / Related Factors
4.2.10.1. Global Economic Impact
4.2.10.2. Industry-specific Impact
4.2.10.3. Government Response and Stimulus Measures
4.2.10.4. Future Outlook and Adaptation Strategies
4.2.11. Other Indicators
4.2.11.1. Fiscal Policy
4.2.11.2. Consumer Spending
4.2.11.3. Gross Domestic Product (GDP)
4.2.11.4. Employment
4.2.11.5. Taxes
4.2.11.6. R&D Innovation
4.2.11.7. Stock Market Performance
4.2.11.8. Supply Chain
4.2.11.9. Cross-Border Dynamics
5. EXECUTIVE SUMMARY
6. INTRODUCTION
6.1. Chapter Overview
6.2. Overview of Enterprise Asset Management Market