Growth drivers such as the strong emphasis on the optimum utilization of assets, digitalization in industries, growing internet penetration, increasing need to curtail maintenance and procurement expenses, rising adoption of the cloud, and intensifying competition will help the enterprise asset management market progress at a CAGR of 17.0% during the forecast period (2020–2030). The market was valued at $5.5 billion in 2019, and it is projected to reach $25.9 billion by 2030.

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The growing need for the effective utilization of assets is a key driving force behind the market prosperity. Businesses use the asset turnover ratio to evaluate their productivity and efficiency. The sales of a company should be more than the price of its assets to increase this ratio. The adoption of EAM solutions for asset utilization management enables the examination of trends in excess charges and invoice payments, analysis of invoice and funding information, meter reading and invoice charge tracking, and asset inventory tracking.

Moreover, the escalating requirement for improved return on assets (ROA) will fuel the enterprise asset management market advance in the coming years. Businesses require EAM solutions for managing machines, buildings, IT infrastructure, and other assets. These solutions prevent the malfunctioning of equipment or machines as they offer timely maintenance alerts, which, in turn, helps in reducing the machine downtime. EAM solutions, therefore, extend the life of the assets, thus preserving capital and allowing companies to escape the financial and environmental impact of decommissioning the existing assets.

This market research report provides a comprehensive overview of the market

• Future potential of the market through its forecast for the period 2020– 2030
• Major factors driving the market and their impact during the short, medium, and long terms
• Market restraints and their impact during the short, medium, and long terms
• Recent trends and evolving opportunities for the market participants
• Historical and the present size of the market segments and understand their comparative future potential
• Potential of on-demand logistics services, so the market players make informed decisions on the sales of their offerings