The global enterprise asset management market value is estimated to be around USD 4,717.07 million in 2024. It is also likely to witness promising growth as energy and utility sectors are expected to create a significant demand for asset tracking and management services in the coming days.
The global demand for enterprise asset management software and solutions is projected to expand at 7% CAGR from 2024 to 2034. By following this promising growth rate, the global enterprise asset management solutions industry is predicted to close in on a valuation of USD 9,279.09 million by 2034.
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Key Takeaways from the Enterprise Asset Management Market Report
- The overall market is expected to witness an absolute value growth of USD 4.5 billion over the next ten years.
- The United States is the leading country in the adoption of enterprise asset management solutions and is likely to expand at 3.9% CAGR through 2034.
- Germany holds maximum opportunity for EAM solution providers which is expected to rise at a rate of 6.5% through the projected years.
- In China, the enterprise asset management industry is likely to register a CAGR of 7.5% over the next ten years.
- Australia is expected to follow the most lucrative growth rate of 10.5% between 2024 and 2034.
Competitive Landscape for the Enterprise Asset Management Market Participants
The overall market is concentrated with few market players contributing for than half of the global demand for equipment management solutions. Small and large enterprises continue to opt for enterprise asset management solutions from famous software developers like Oracle or ABB Group.
However, start-up companies have been recently receiving more government funds for new ventures and enterprise asset management software development in recent years.
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Competitive Landscape for Enterprise Asset Management Market
Enterprise asset management (EAM) software developers are working to outperform traditional asset management, as businesses seek additional benefits from EAM solutions. In addition to providing access to organizational asset information to every department and employee at every location, the most recent industry trend includes EAM software solutions that include energy usage, lifecycle costs, maintenance histories, warranty catalogs, purchase orders, audit records, and other features.
Key Players in the Enterprise Asset Management Market Report
- Oracle Corporation
- SAP SE
- Schneider Electric SE
- ABB Ltd.
- MRI Software LLC
- CGI Inc.
- Industrial and Financial Services (IFS) AB
- Infor Inc.
- Ramco Systems Limited
- Rockwell Automation Inc.
- Bentley Systems Incorporated
Recent Developments by the Enterprise Asset Management Industry Players
- In April 2023, Trimble announced the release of its updated enterprise asset management system, Trimble Unity® AMS, which is intended to help electric utilities increase the operational success and dependability of their services. It is based on Trimble’s industry-leading Cityworks® enterprise asset management platform to manage every stage of the asset infrastructure lifecycle, from construction and permits to operations, maintenance, and replacement.
- In October 2021, Innovapptive Introduced Mobile Solutions for IBM Maximo Warehouse Management Suite and Enterprise Asset Management (EAM). It provides the Connected Worker Platform that links frontline employees, the back office, and assets.
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Key Segments Covered by Enterprise Asset Management Industry Survey Report
By Solution Type:
- Enterprise Asset Management
- Cloud-based Solution
- On-Premises Solution
By Services Type:
- Professional Services
- Business Consulting
- Integration & Implementation Services
- Support & Maintenance
- Other professional Services
- Managed Services
By Enterprise Size:
- Small Offices (1 to 9 employees)
- Small Enterprises (10 to 99 employees)
- Medium-sized Enterprise (100 to 499 employees)
- Large Enterprises (500 to 999 employees)
- Very Large Enterprises (More than 1,000 employees)
By End Use Industry:
- Government
- Healthcare
- Manufacturing
- Transportation & Logistics
- Oil & Gas
- Banking & Finance
- Retail
- Other End Use Industries
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia and Pacific
- Middle East and Africa (MEA)
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