In 2018, the global enterprise asset management (EAM) market generated a revenue of $4.1 billion and is projected to advance at a 13.5% CAGR during the forecast period (2019–2024). The various factor positively impacting the growth of the market are the rising adoption of EAM for effective use of assets, improved return on assets (ROA), and reduced procurement and maintenance expenses. The management of physical assets of an organization, including plant, property, and equipment is referred to as EAM. EAM incorporates techniques for optimization and control during asset lifecycle. 

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In terms of component, the EAM market is categorized into service, software, and solution. Among these, the software category dominated the market during the historical period (2014–2018) and is expected to account for the major share of the market during the forecast period as well. The service category is projected to grow significantly during the forecast period due to the increasing demand for professional and managed services from the business owners for continuous and obstacle-free business operations. The larger demand was created for managed services during the historical period. 

When industry is taken into consideration, the EAM market is divided into manufacturing, oil gas, healthcare, government, energy utilities, transportation logistics, and others (which include retail, metal, and mining). The manufacturing industry held the largest share of the market during the historical period and is predicted to retain its position during the forecast period. The retail, metal, and mining division are expected to witness the fastest growth during the forecast period because of the expanding retail businesses and increasing adoption of EAM solutions by new entrants. 

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One of the major driving factors of the EAM market is the surging adoption of EAM for efficient utilization of assets. The organizations make use of asset turnover ratio, which is the ratio of sales and price of assets, for the calculation of company’s productivity and efficiency. Hence, in order to increase the ratio, the company simply needs to grow its sales as compared to the price of its assets. The utilization of EAM enables the decision-makers to compare expected billing amounts and invoice and detect unusual activity to prevent fraud and reduce waste.

The research offers market size of the global enterprise asset management (EAM) market for the period 2014-2024.

Market Segmentation by Component

• Software

  • Linear assets

  • Non-linear assets

  • Field service management (FSM)

  • Assets maintenance, repair, and operations (MRO)

• Service

  • Managed

  • Professional

• Solution

  • Planning and forecasting

  • Logistics and inventory

  • Network field operations

  • Assets transfer and retirement

  • Procurement of material

Market Segmentation by Deployment Type

• On-premises

• Cloud-based

Market Segmentation by Industry

• Government

• Oil and Gas

• Healthcare

• Transportation and Logistics

• Manufacturing

• Energy and Utilities

• Others (retail, and metal and mining)

Market Segmentation by Enterprise Size

• Small and Medium Enterprises (SMEs)

• Large Enterprises