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Enterprise Asset Management (EAM) Market Analysis
- Report ID: GMI5149
- Published Date: Jan 2023
- Report Format: PDF
Enterprise Asset Management Market Analysis
Based on enterprise size, the large enterprises segment is predicted to account for more than 61% of the market share by 2032, led by the rising adoption of BYOD and remote working among global enterprises. Advancements in the field of IoT-enabled devices have delivered employees the freedom to work remotely. According to the WEF, global enterprises have turned the pandemic-triggered remote working trend into an opportunity to boost diversity and inclusion across the workplace. Many job roles have been made borderless and remote as companies look to improve their talent pool.
On the basis of the deployment model, the enterprise asset management market from cloud segment is poised to grow at 11% CAGR through 2032, owing to the rapid time to value offered by the cloud-based deployment model for remote working. The model became widespread during the COVID-19 pandemic as it helped enterprises manage their business operations by allowing users to work remotely and conduct their daily operations from the safety of their homes. With the remote working trend becoming more widely accepted across the globe.
Based on end-user, the government & public sector segment is slated to represent nearly 14% of the overall enterprise asset management market share by 2032, propelled by the rising demand for effective resource planning capabilities across government agencies and public enterprises. EAM helps these agencies locate their assets anytime, anywhere, and also gather useful data about each asset to avoid unforeseen downtimes to maximize performance. In December 2022, American multinational technology corporation, IBM, partnered with Flexera, a US-based computer software firm, to improve IT visibility and software asset management capabilities for government entities through the Flexera Resell Software.
On the regional front, the Europe enterprise asset management market is likely to expand at a CAGR of 9.5% till 2032, due to the ongoing digital transformation initiatives in the region. The European Commission is actively outlining areas of cooperation and investment in the transition, creating a notable impetus. In November 2021, the EU also unveiled an investment of around €2 billion from the Digital Europe Program to advance the digital transition of the bloc. As the European economy continues its digitalization journey, many organizations are also transforming to incorporate the digital world into their day-to-day functioning.
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Enterprise Asset Management Market Scope
