Enterprise Asset Management (EAM) Market Size By Component (Solution [Asset Lifecycle Management, Predictive Maintenance, Work Order Management, Labor Management, Facility Management, Inventory Management], Service [Professional Service, Managed Service]), By Deployment Model (On-premise, Cloud), By Enterprise Size (Large Enterprises, SMEs), By Application (Linear Assets, Asset MRO, Non-Linear Assets, Field Service Management), By End-user (Energy & Utilities, Manufacturing, IT & Telecom, Healthcare, Oil & Gas, Transportation and Logistics, Government & Public Sector), COVID-19 Impact Analysis, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2021 – 2027

Published Date: Oct 2021  |  Report ID: GMI5149  |  Authors: Preeti Wadhwani, Smriti Loomba

Report Format: PDF   |   Pages: 330   |   Base Year: 2020




Summary Table of Contents Industry Coverage Methodology

Industry Statistics Overview

Enterprise Asset Management Market size exceeded USD 4 billion in 2020 and is poised to register gains at nearly 10% from 2021 to 2027. Increasing demand for extending the life span of crucial enterprise assets with the aid of advanced technologies is driving the industry growth. Many asset-intensive organizations are focusing on investing in cutting-edge EAM technologies to radically transform and improve their operational processes including predictive maintenance, AI-based telematics, and digital twins. EAM solutions help business owners or enterprises with uptime, inventory maintenance as well as strategic planning.
 

Enterprise Asset Management Market

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The EAM industry has exhibited positive growth amid the ongoing COVID-19 pandemic. The market acceleration in the EAM space has been substantiated by the need to create resilient and disaster-averse systems. EAM solutions have enjoyed widespread adoption during the pandemic as remote working environment pressurized enterprises to seek out viable alternatives to prevent system failure downtime, enhance efficiency, and manage assets. For instance, as per data reported by IBM, the capex expenditure on asset management was reduced by up to 7% by clients that opted for IBM’s Maximo asset management tool.
 

High importance on optimizing asset profit generation

U.S. Enterprise Asset Management Market Size By Solution

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In the U.S., the Asset Lifecycle Management (ALM) segment is likely to generate over USD 350 million in revenue in 2023. ALM mitigates the risks associated with new capital projects, eliminates operational inefficiencies, and optimizes production uptime and the value of assets. For instance, operators and investors are deploying PwC’s ALM solution to evaluate new LNG projects and capture better market pricing for oil & gas assets in the U.S.
 

Stringent data security and compliance requirements in Germany

The on-premise segment in Germany is predicted to account for around 55% of the enterprise asset management market share by 2027. The growth is attributed to the fewer recorded instances of cybersecurity breaches on on-premise systems and better regulatory compliance in terms of data privacy. The other associated benefits of on-premise deployment, including near-zero downtimes and reduced latency, are expected to boost the industry demand for cloud-based EAM solutions in the region. Issues with cloud deployment, such as vendor lock-ins and higher switching costs, have also benefited the market demand.
 

High degree of digitization initiatives in China

China EAM Market Size By Enterprise Size

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In China, the large enterprises segment is estimated to grow at above 10% CAGR between 2021 and 2027. They are embracing emerging technologies, such as AR, IoT, AI, predictive maintenance, digital twin, and telematics, to ensure high market leverage in delivering industrial services that can accurately forecast the future of physical assets. The increasing demand for power in the country is continuously adding assets to the country including solar farms, windmills, thermal power plants, and others, providing a significant scope for the market expansion.
 

Extensive roadmap for linear asset projects promoting the Mexico EAM market

Mexico Enterprise Asset Management Market Size By Application

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In Mexico, the linear asset segment captured about 15% of the revenue share in 2020. The Mexican government has initiated a countrywide overhaul and expansion of the nation’s capacity in rail transportation services, as part of a long-term plan to improve the Mexican rail infrastructure across several areas. For instance, in 2020, the Mexican government announced an investment of USD 300 billion in expanding the country’s railway assets by 2026.
 

Deregulation of the electric sector and push toward greener energy

In the UK EAM market, the energy & utilities segment is set to accrue USD 50 million by 2025. The deregulation of the electric sector in the region has helped many private entities that are managing strategic goals to reduce the cost of electricity to customers and to have minimum losses to its business by tracking and monitoring networks at a regular time interval. Several initiatives for upgrading of aging utility infrastructure and growing investments in distributed generation are boosting the industry demand for EAM solutions.
 

Matured manufacturing landscape and increased investments in the European energy sector

Europe EAM Market Share By Country

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Europe is slated to witness growth rate of over 10% through 2027. The regional enterprise asset management market is characterized by the surging adoption of lean manufacturing practices by several organizations and increasing focus on providing cloud-based EAM solutions to satisfy customer demands across the energy & utilities landscape.
 

The market growth is strongly supported by the regulatory developments within the European power sector that continued to shift toward green methods. For instance, in December 2020, 22 EU member states signed a memorandum of understanding to support the development of a European value chain for green hydrogen and vowed to invest in the new key technology.
 

Filling up product portfolio gaps through inorganic strategies is the key differentiator

Some of the key players operating in the EAM market are ABB Ltd., Aptean, AssetInfinity, Asset Panda, LLC, AssetWorks, LLC, AVEVA Group Plc, CGI Group Inc., Cheqroom NV, eMaint (Fluke Corporation), Ezmaintain.com, EZOfficeInventory, Fleetio (Rarestep, Inc.), IBM Corporation, IFS AB, Infor, Intelligent Process Solutions (IPS), KloudGin, Inc., Maintenance Connection Inc., Oracle Corporation, Ramco Systems Ltd., RCS Tech LLP, SAP SE, Ultimo Software Solutions BV, and UpKeep Technologies, Inc.
 

The global industry remains substantially consolidated with top five players accounting for more than half of the market share. The prominent participants are placing an ever-growing emphasis on delivering advanced EAM solutions and widening their product capabilities through acquisitions. The market has also observed several strategic alliances between key companies to launch new products with added functionalities and to maintain revenue & profitability.
 

This enterprise asset management market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD from 2016 to 2027 for the following segments:

Market, By Component

  • Solution
    • Asset Lifecycle Management
    • Predictive Maintenance
    • Work Order Management
    • Labor Management
    • Facility Management
    • Inventory Management
  • Service
    • Professional Service
    • Managed Service

Market, By Deployment Model

  • Cloud
  • On-premise

Market, By Enterprise Size

  • Large Enterprises
  • SMEs

Market, By Application

  • Asset Maintenance, Repair and Operations (MRO)
  • Linear Assets
  • Non-Linear Assets
  • Field Service Management

Market, By End-user

  • Energy & Utilities
  • Manufacturing
  • IT & Telecom
  • Healthcare
  • Oil & Gas
  • Transportation and Logistics
  • Government & Public Sector
  • Others

The above information has been provided for the following regions and countries:

  • North America
    • U.S.
    • Canada
  • Europe
    • UK
    • Germany
    • France
    • Italy
    • Spain
    • Netherlands
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Australia & New Zealand (ANZ)
    • Singapore
  • Latin America
    • Brazil
    • Mexico
    • Argentina
    • Colombia
  • Middle East & Africa
    • Saudi Arabia
    • UAE
    • Israel
    • South Africa

 

Frequently Asked Questions (FAQ) :

The EAM market size crossed USD 4 billion in 2020; the valuation may surpass USD 7 billion by 2027, with an anticipated CAGR of 10%, driven by increasing popularity of SaaS-based EAM solutions.
Since ALM eliminates risks pertaining to new capital projects, the segment is likely to gain traction in the U.S., that is home to several large enterprises. U.S. asset lifecycle management (ALM) segment may cross USD 350 million by 2023.
In Germany, the on-premise segment is likely to account for over 55% of the market share by 2027. The growth is attributed to the fewer recorded instances of cybersecurity breaches on on-premise systems and better regulatory compliance in terms of data privacy.
The Chinese market from large enterprises segment may record 10% gains through 2027, owing to huge enterprises adopting technologies such as IoT, AI, AR, digital twins, and more.
EAM solutions are likely to gain momentum in Mexico; the linear asset segment accounted for 15% of the regional industry share in 2020. The growth can be credited to the government’s efforts to bring about expansion in the country’s rail infrastructure.

Premium Report Details

  • Published Date: Oct 2021
  • Pages: 330
  • Tables: 500
  • Charts / Figures: 40
  • Companies covered: 24
  • Countries covered: 22

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