Global Enterprise Asset Management Systems Market

Global Enterprise Asset Management Systems Market Size, Share, Growth Analysis, By Component(Solution, Services), By Application(Asset Lifecycle Management, Inventory Management), By Deployment Model(On-premises, Cloud), By Organization Size(SMEs and Large Enterprises), By Vertical(Energy and Utilities, Government and Public Sector) - Industry Forecast 2022-2028


Report ID: SQSG45E2042 | Region: Global | Published Date: December, 2022 | Pages: 165 | Tables: 149 | Figures: 74

Global Enterprise Asset Management Systems Market Insights

Global Enterprise Asset Management Systems Market was valued at USD 3.36 billion in 2021, and it is expected to attain a value of USD 4.85 billion by 2028 with a CAGR of 7.1% over the forecast period (2022-2028).

The market for enterprise asset management systems is expanding as a result of the proliferation of IoT devices across almost all business verticals, integration of drone & AI-based asset management, and rising demand for cloud-based EAM solutions. Additionally, the market is expanding as a result of technical advancements, the growing acceptance of sophisticated technologies for extending asset life cycles, and the appearance of disruptive digital technologies across industrial verticals. One of the biggest issues facing the industry for EAM systems is choosing precise and effective solutions for an organization's business goals.

In line with the booming global economy, there are more start-ups and businesses that are expanding quickly than ever before. A growing requirement for efficient asset management of important organizational assets is being caused by expanding business establishments. Additionally, recently, start-up businesses have been given government funding for new endeavors including the creation of corporate asset management software. Small and large businesses alike continue to choose enterprise asset management software for flexible, fully scalable asset lifecycle optimization that meets organizational objectives.

Market snapshot

Global Market Size

USD 3.36 billion

Largest Segment

On-Premise

Fastest Growth

On-Premise

Growth Rate

7.1% CAGR

Global Enterprise Asset Management Systems Market 2022-2028 ($ Bn)
Country Share for North America Region- 2021 (%)
Global Enterprise Asset Management Systems Market Size By Deployment Model 2022-2028 ($ Bn)
Global Enterprise Asset Management Systems Market Size By Deployment Model 2022-2028 (%)

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Global Enterprise Asset Management Systems Market Segmental Analysis

The global enterprise asset management systems market is segmented on the basis of type, end-user organizational size, vertical, and region. Based on component, the market is segmented into solution and services segments. On the basis of application, the market is segregated into asset lifecycle management, inventory management, work order management, labor management, predictive maintenance and facility Management. Based on the deployment model, the market is segmented into on-premises and cloud sub segments. Based on organizational size, the market is segmented into SMEs and Large enterprises. Based on vertical, the market is segmented into Energy and Utilities, Government and Public Sector, Manufacturing, Transportation and Logistics, IT and telecommunications, manufacturing, healthcare and life science, education, and others. Based on region, the global management systems market is segmented into North America, Europe, Asia-Pacific, South America, and MEA.

Analysis by component

In terms of offerings, the enterprise asset management systems market is estimated to be dominated by the solutions segment. The significant market share of this sector is primarily fueled by the rising demand for sophisticated solutions for reliable and affordable EAM systems, the growing demand for cutting-edge technologies to predict, report, and prevent system errors, and the rising tendency of businesses to control costs with less maintenance. However, due to the increasing need for managed and professional services in SMEs for efficient operations, the services category is expected to develop at the quickest CAGR during the projection period.

Analysis by deployment model

Organizations that require control over the security of consumer and company information typically prefer the on-premises version of EAM. The internal IT personnel of the organizations manage this deployment, which is deployed and hosted on their IT infrastructure. Organizations must make a significant initial investment in EAM systems for them to be deployed on-premises, but unlike cloud adoption, there are no ongoing charges. The prevalence of on-premises installations over cloud deployments is largely due to security concerns regarding customers' sensitive data. IT teams find it difficult to regularly upgrade on-premises systems. Operations of numerous functional departments are also impeded in the event of a malfunction.

Global Enterprise Asset Management Systems Market By Deployment Model, 2021 (%)

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Global Enterprise Asset Management Systems Market Regional Insights

According to estimates, North America will dominate the market for enterprise asset management systems, followed by Asia-Pacific, Europe, Latin America, the Middle East, and Africa. The significant market share of this region is primarily attributable to the region's concentration of major EAM players as well as several emerging start-ups, early adoption of cutting-edge technologies and government investments in these fields, presence of a highly developed IT infrastructure, proliferation of cloud-based solutions, and growing emphasis on regulatory and compliance compliance among organizations.

In terms of technology adoption, Asia-Pacific is one of the fastest-growing areas, and the region's huge businesses and diverse governments are responsible for the demand for digitalization. Leading this technology adoption are nations like China, Japan, Australia, Singapore, India, and Indonesia, which embrace cutting-edge technologies like AI, edge, IoT, analytics, and cloud. The complexity of managing workloads and apps manually is a major reason driving the use of EAM among businesses in this region as a result of the growing use of cloud technologies and the volume of data. Enterprise adoption of cloud technology would be significantly influenced by cloud services' accessibility and pricing.

Global Enterprise Asset Management Systems Market By Geography, 2022-2028
  • Largest
  • Fastest

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Global Enterprise Asset Management Systems Market Dynamics

Driver

  • Numerous businesses all around the world are using EAM systems to raise business agility, increase job efficiency, and manage facilities. In order to optimize crucial corporate assets and obtain business data for decision-making, cloud-based enterprise asset management software and services are also used. Additionally, these technologies enable firms to reduce overhead costs.
  • Additionally, cloud-based corporate asset management solutions offer greater technical assistance and services, including managed services with built-in performance monitoring and debugging tools. Additionally, it lowers additional costs that businesses must incur for asset management. Therefore, the expansion of the enterprise asset management sector is being driven by an increase in demand for cloud-based EAM solutions among businesses.
  • Tracking operations, providing better information on capital investment decisions, and integrating maintenance solutions for effective equipment control can help in reducing the maintenance cost. With the increasing need for businesses to reduce their maintenance and procurement costs by a significant amount, the asset and wealth management market is expected to grow significantly.

Restraint 

  • The adoption of EAM can be a challenging and complex undertaking for enterprises with many functional domains. Asset managers should have a thorough awareness of the work processes of any assets or components that can change during the implementation phase in order to minimize complications. A system like EAM has an impact on processes, technology, and people. Therefore, when implementing the EAM system, it is crucial to have a thorough grasp of each of these entities. As the EAM system has an impact on numerous systems and processes, cross-functional collaboration is necessary for its deployment.
  • Cyber attacks are also increasing drastically with growing digitization. The transfer of data from the field to the cloud platform  is a major cause of significant rise in cybersecurity concerns as malicious parties can attack server networks and communication channels.

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Global Enterprise Asset Management Systems Market Competitive Landscape

The most recent industry trend includes enterprise asset management solutions that also take into account a number of other significant factors, such as energy usage, lifecycle costs, maintenance histories, warranty catalogs, purchase orders, audit records, and others. This is in addition to providing access to organizational asset information to every department and employee at every location.

Top Players Company Profiles 

  • SAP SE (Germany)
  • IBM Corporation (US)
  • Oracle (US)
  • IFS AB (Sweden)
  • UpKeep Maintenance Management (US)
  • Sage Group PLC (UK)
  • Ultimo Software Solutions (UK)
  • eMaint Enterprises, LLC (US)
  • ABB Ltd. (Switzerland)
  • Aptean (US)
  • CGI Inc. (Canada)
  • IPS (Germany)
  • Maintenance Connection (Accurent) (US)
  • AssetWorks (US)
  • Infor (US)
  • SSG Insight (UK)

Recent Developments

  • In August 2022, Additude, based in Sweden, announced that Ultimo, a vendor of enterprise asset management (EAM) software, has expanded its offering in the Nordics through a partnership with industrial solution provider Additude.
  • In February 2021, a pioneer in no-code development, AppGyver, was acquired by SAP, according to a statement. Due to the merger, SAP has the capacity to help clients and partners quickly adapt their IT solutions to meet their specific needs and improve the usability of their applications.

Global Enterprise Asset Management Systems Key Market Trends

  • Many businesses all over the world are implementing EAM systems to increase productivity, streamline tasks, foster corporate agility, and manage facilities. Additionally, crucial company assets are optimized and business intelligence is obtained for decision-making using cloud-based EAM solutions and services. Additionally, these solutions help businesses lower their overhead expenses. Better technical assistance and services, such as managed services with integrated debugging and performance monitoring tools, are provided by cloud-based EAM systems. The acquisition of DIN Solutions by Aptean will enable it to offer enterprise management software to food and beverage businesses around the world. Aptean is a global provider of mission-critical enterprise software solutions.

Global Enterprise Asset Management Systems Market SkyQuest Analysis

SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.

According to our analysis, the global enterprise asset management systems market is segmented based on component, application, deployment model and regions. In terms of offerings, the enterprise asset management systems market is estimated to be dominated by the solutions segment. Organizations that require control over the security of consumer and company information typically prefer the on-premises version of EAM. Additionally, cloud-based corporate asset management solutions offer greater technical assistance and services, including managed services with built-in performance monitoring and debugging tools.

Report Metric Details
Market size value in 2021 USD 3.36 billion
Market size value in 2028 USD 4.85 billion
Growth Rate 7.1%
Base year 2021
Forecast period 2022-2028
Forecast Unit (Value) USD Billion
Segments covered
  • Component
    • Solution, Services
  • Application
    • Asset Lifecycle Management, Inventory Management, Work Order Management, Labor Management, Predictive Maintenance, Facility Management
  • Deployment Model
    • On-premises, Cloud
  • Organization Size
    • SMEs and Large Enterprises
  • Vertical
    • Energy and Utilities, Government and Public Sector, Manufacturing, Transportation and Logistics, IT and Telecommunications, Manufacturing, Healthcare and Life Science, Education, Others
Regions covered North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)
Companies covered
  • SAP SE (Germany)
  • IBM Corporation (US)
  • Oracle (US)
  • IFS AB (Sweden)
  • UpKeep Maintenance Management (US)
  • Sage Group PLC (UK)
  • Ultimo Software Solutions (UK)
  • eMaint Enterprises, LLC (US)
  • ABB Ltd. (Switzerland)
  • Aptean (US)
  • CGI Inc. (Canada)
  • IPS (Germany)
  • Maintenance Connection (Accurent) (US)
  • AssetWorks (US)
  • Infor (US)
  • SSG Insight (UK)
Customization scope

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Table Of Content

Executive Summary

Market overview

  • Exhibit: Executive Summary – Chart on Market Overview
  • Exhibit: Executive Summary – Data Table on Market Overview
  • Exhibit: Executive Summary – Chart on Global Enterprise Asset Management Systems Market Characteristics
  • Exhibit: Executive Summary – Chart on Market by Geography
  • Exhibit: Executive Summary – Chart on Market Segmentation
  • Exhibit: Executive Summary – Chart on Incremental Growth
  • Exhibit: Executive Summary – Data Table on Incremental Growth
  • Exhibit: Executive Summary – Chart on Vendor Market Positioning

Parent Market Analysis

Market overview

Market size

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • SWOT Analysis

KEY MARKET INSIGHTS

  • Technology Analysis
    • (Exhibit: Data Table: Name of technology and details)
  • Pricing Analysis
    • (Exhibit: Data Table: Name of technology and pricing details)
  • Supply Chain Analysis
    • (Exhibit: Detailed Supply Chain Presentation)
  • Value Chain Analysis
    • (Exhibit: Detailed Value Chain Presentation)
  • Ecosystem Of the Market
    • Exhibit: Parent Market Ecosystem Market Analysis
    • Exhibit: Market Characteristics of Parent Market
  • IP Analysis
    • (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
  • Trade Analysis
    • (Exhibit: Data Table: Import and Export data details)
  • Startup Analysis
    • (Exhibit: Data Table: Emerging startups details)
  • Raw Material Analysis
    • (Exhibit: Data Table: Mapping of key raw materials)
  • Innovation Matrix
    • (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
  • Pipeline product Analysis
    • (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
  • Macroeconomic Indicators

COVID IMPACT

  • Introduction
  • Impact On Economy—scenario Assessment
    • Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
  • Revised Market Size
    • Exhibit: Data Table on Global Enterprise Asset Management Systems Market size and forecast 2021-2027 ($ million)
  • Impact Of COVID On Key Segments
    • Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
  • COVID Strategies By Company
    • Exhibit: Analysis on key strategies adopted by companies

MARKET DYNAMICS & OUTLOOK

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • Regulatory Landscape
    • Exhibit: Data Table on regulation from different region
  • SWOT Analysis
  • Porters Analysis
    • Competitive rivalry
      • Exhibit: Competitive rivalry Impact of key factors, 2021
    • Threat of substitute products
      • Exhibit: Threat of Substitute Products Impact of key factors, 2021
    • Bargaining power of buyers
      • Exhibit: buyers bargaining power Impact of key factors, 2021
    • Threat of new entrants
      • Exhibit: Threat of new entrants Impact of key factors, 2021
    • Bargaining power of suppliers
      • Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
  • Skyquest special insights on future disruptions
    • Political Impact
    • Economic impact
    • Social Impact
    • Technical Impact
    • Environmental Impact
    • Legal Impact

Market Size by Region

  • Chart on Market share by geography 2021-2027 (%)
  • Data Table on Market share by geography 2021-2027(%)
  • North America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • USA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Canada
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Europe
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Germany
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Spain
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • France
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • UK
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Europe
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Asia Pacific
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • China
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • India
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Japan
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Korea
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Asia Pacific
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Latin America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Brazil
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of South America
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Middle East & Africa (MEA)
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • GCC Countries
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Africa
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of MEA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)

KEY COMPANY PROFILES

  • Competitive Landscape
    • Total number of companies covered
      • Exhibit: companies covered in the report, 2021
    • Top companies market positioning
      • Exhibit: company positioning matrix, 2021
    • Top companies market Share
      • Exhibit: Pie chart analysis on company market share, 2021(%)

Methodology

For the Global Enterprise Asset Management Systems Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:

1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.

2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Enterprise Asset Management Systems Market.

3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.

4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.

Analyst Support

Customization Options

With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Enterprise Asset Management Systems Market:

Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.

Regional Analysis: Further analysis of the Global Enterprise Asset Management Systems Market for additional countries.

Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.

Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.

Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.

Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.

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FAQ's

Global Enterprise Asset Management Systems Market was valued at USD 3.36 billion in 2021, and it is expected to attain a value of USD 4.85 billion by 2028 with a CAGR of 7.1% over the forecast period (2022-2028).

The most recent industry trend includes enterprise asset management solutions that also take into account a number of other significant factors, such as energy usage, lifecycle costs, maintenance histories, warranty catalogs, purchase orders, audit records, and others. This is in addition to providing access to organizational asset information to every department and employee at every location. 'SAP SE (Germany)', 'IBM Corporation (US)', 'Oracle (US)', 'IFS AB (Sweden)', 'UpKeep Maintenance Management (US)', 'Sage Group PLC (UK)', 'Ultimo Software Solutions (UK)', 'eMaint Enterprises, LLC (US)', 'ABB Ltd. (Switzerland)', 'Aptean (US)', 'CGI Inc. (Canada)', 'IPS (Germany)', 'Maintenance Connection (Accurent) (US)', 'AssetWorks (US)', 'Infor (US)', 'SSG Insight (UK)'

Numerous businesses all around the world are using EAM systems to raise business agility, increase job efficiency, and manage facilities. In order to optimize crucial corporate assets and obtain business data for decision-making, cloud-based enterprise asset management software and services are also used. Additionally, these technologies enable firms to reduce overhead costs.

Many businesses all over the world are implementing EAM systems to increase productivity, streamline tasks, foster corporate agility, and manage facilities. Additionally, crucial company assets are optimized and business intelligence is obtained for decision-making using cloud-based EAM solutions and services. Additionally, these solutions help businesses lower their overhead expenses. Better technical assistance and services, such as managed services with integrated debugging and performance monitoring tools, are provided by cloud-based EAM systems. The acquisition of DIN Solutions by Aptean will enable it to offer enterprise management software to food and beverage businesses around the world. Aptean is a global provider of mission-critical enterprise software solutions.

According to estimates, North America will dominate the market for enterprise asset management systems, followed by Asia-Pacific, Europe, Latin America, the Middle East, and Africa. The significant market share of this region is primarily attributable to the region's concentration of major EAM players as well as several emerging start-ups, early adoption of cutting-edge technologies and government investments in these fields, presence of a highly developed IT infrastructure, proliferation of cloud-based solutions, and growing emphasis on regulatory and compliance compliance among organizations.

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