Enterprise Asset Management Market Size, Share, Growth Analysis, By Offering(Solutions, Services), By Deployment(On-premises, Cloud, Hybrid), By Enterprise Size(Small & Medium Enterprises (SMEs), Large Enterprises), By Application(Asset Lifecycle Management, Inventory Management, Work Order Management, Labor Management), By Vertical(IT & Telecommunications, Transportation & Logistics, Government & Public Sector, Healthcare & Life Sciences), By Region - Industry Forecast 2024-2031

Enterprise Asset Management Market size was valued at USD 3.92 Billion in 2022 and is poised to grow from USD 4.21 Billion in 2023 to USD 7.74 Billion by 2031, at a CAGR of 8.2% during the forecast period (2024-2031).

Rapidly expanding infrastructure development activities and imposition of stringent regulatory mandates for enterprise assets are slated to be key factors that enterprise asset management companies should focus on going forward. Launching new enterprise asset management solutions and services with advanced capabilities will be the prime focus of all enterprise asset management providers. Expansion of business scope by integrating advanced technologies such as artificial intelligence and predictive analytics will also be a key strategy for enterprise asset management companies. 'IBM Corporation (United States)', 'SAP SE (Germany)', 'Oracle Corporation (United States)', 'Infor (United States)', 'IFS AB (Sweden)', 'ABB Group (Switzerland)', 'Schneider Electric SE (France)', 'Siemens AG (Germany)', 'GE Digital (United States)', 'AssetWorks LLC (United States)', 'AVEVA Group plc (United Kingdom)', 'Archibus, Inc. (United States)', 'Maintenance Connection, Inc. (United States)', 'eMaint Enterprises, LLC (United States)', 'UpKeep Maintenance Management (United States)', 'Accruent LLC (United States)', 'Dude Solutions, Inc. (United States)', 'Fingent Corporation (United States)', 'Fiix Inc. (Canada)', 'MPulse Maintenance Software (United States)'

Enterprises are subject to strict regulatory compliance mandates, which is why they need to track and maintain proper records of their assets to stay compliant. Enterprise asset management solutions help them achieve this, thereby driving market growth going forward.

Integration with ERP Solutions: Enterprise asset management companies can integrate ERP (enterprise resource planning) capabilities in their solutions to offer their users more features and more centralized access to all their asset management needs. Providing a unified platform for all things asset-related will be a good proposition for users and help enterprise asset management companies maximize their reach in the future.

North America secures the top spot in the global enterprise asset management market. Rapid adoption of advanced technologies and presence of multiple multinational organizations makes this region a highly lucrative one for enterprise asset management companies. Rising investments in smart technology adoption in this region will also supplement enterprise asset management demand going forward. Canada and the United States will be the most opportune markets for enterprise asset management providers in this region. Rising use of automation in businesses will help the United States lead enterprise asset management adoption in North America through 2031.