The usage of the enterprise asset management solutions was found to be higher in the years gone by. This was primarily because of the huge requirement for the effective management of various enterprise assets and resources and the rapid growth of several industries such as retail, manufacturing, healthcare, and telecommunications. Additionally, the high requirement for the comprehensive visibility of assets also boosted the demand for EAM solutions in the past.

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There are mainly two ways by which the enterprise asset management solutions are deployed- on-premises and cloud. Between these, the on-premises deployment of these solutions was observed to be higher in the past few years. This was because the on-premises deployment of these solutions offers higher data security and organizational control as the software is installed on the organization’s own servers and computers. Moreover, the better customization features provided by this deployment mode made it very popular around the world.

Globally, the enterprise asset management market is predicted to register the fastest growth in the Asia-Pacific (APAC) region in the upcoming years. Telecom, banking, transportation, and manufacturing are the biggest industries using enterprise asset management solutions in the APAC region. The large enterprises operating in this region are rapidly incorporating these solutions for effectively using their assets, reducing their maintenance costs, preventing the malfunctioning of machines, and simplifying their work operations.

Thus, it can be said with full surety that the demand for enterprise asset management solutions would surge all over the world in the forthcoming years, primarily because of the rising requirement for higher ROA and effective asset management in enterprises around the world.