Enterprise Asset Management Market by Deployment (Cloud, On-premise), Enterprise Size, End User, and Geography - Global Industry Analysis, Opportunities and Forecast up to 2030

Enterprise Asset Management Market by Deployment (Cloud, On-premise), Enterprise Size, End User, and Geography - Global Industry Analysis, Opportunities and Forecast up to 2030

Enterprise Asset Management Market Size

The global enterprise asset management market size was valued at $5.18 billion in 2024 and is projected to reach $9.28 billion by 2030, growing at a CAGR of 10.2% during the forecast period.

Enterprise Asset Management Market Overview

Enterprise asset management (EAM) serves as a crucial business solution for organizations seeking to efficiently manage their physical assets across departments, facilities, and geographical boundaries. By implementing EAM solutions, companies gain visibility into their infrastructures throughout the entire lifecycle, encompassing design, commissioning, procurement, operation, maintenance, disposal, and replacement phases. Modern EAM solutions offered by market vendors are robust, comprehensive, and adaptable, empowering global organizations to manage their business operations effectively, control costs, and significantly enhance overall productivity. This approach represents a significant evolution from the primitive run-to-failure systems used in early railways to the preventive maintenance practices adopted in the 1950s. More recently, asset management methodologies such as reliability-centered and condition-based maintenance have been implemented in various industries like airlines, military, and power.

Enterprise Asset Management Market Dynamics

• The enterprise asset management market is expected to witness significant growth in the future due to the rising demand for cloud-based EAM solutions, increasing use of mobile devices in EAM solutions, and growing need for asset optimization.
• Additionally, rising adoption of IoT and growing demand for predictive maintenance solutions are the prominent factors driving the growth of the market.
• However, concerns over data security & confidentiality and high initial investment costs are restraining the market growth.
• On the contrary, emphasis on predictive maintenance and rapid digital transformation across industries are creating opportunities for market growth.

By End User, Manufacturing Segment Holds the Dominant Position in the Market Revenue

The manufacturing segment maintains a leading position in the enterprise asset management market revenue during the forecast period due to growing demand for embracing the digital solutions to enhance its operational efficiency. The increasing emphasis on cost control, maintenance optimization, asset longevity, workflow streamlining, and production efficiency is driving the adoption of enterprise asset management (EAM) solutions among manufacturing firms. Many large-scale organizations, including General Motors (GM), rely on EAM solutions to manage their assets effectively. For instance, GM utilizes RFID tracking and other connected devices to monitor its assets and gather precise performance data, showcasing the industry's reliance on advanced EAM solutions.

By Geography, North America Dominates by Being the Largest Market for Enterprise Asset Management

The North America leads as the primary market for enterprise asset management during the forecast period due to the growing need for efficient management of enterprise resources, asset maintenance, repair, and operations (MRO). Particularly, the U.S. healthcare sector is poised to experience notable growth, with regulatory changes necessitating stricter management of medical equipment, especially in the wake of the pandemic. Large enterprises in the region are expected to favor cloud-based solutions over smaller businesses, primarily due to their larger budgets and the wider availability of cloud-based EAM solutions.

Key Target Audience:

• Enterprises and Organizations
• EAM Software Providers
• IT Department
• Asset Managers

List of the Key Players Profiled in the Report Includes:

• AssetWorks, LLC
• CGI, Inc.
• IFS AB
• International Business Machines (IBM) Corporation
• Oracle Corporation
• Schneider Electric
• Infor
• Ramco Systems
• Sage Group PLC
• ABB Group
• SAP SE

Recent Developments:

• In February 2024, ABB has acquired SEAM Group, a prominent provider of energized asset management and advisory services catering to industrial and commercial building markets. This acquisition is poised to enhance ABB's Electrification Service portfolio by providing customers with advanced expertise in predictive, preventive, and corrective maintenance, electrical safety, renewables, and asset management advisory services.

Market Segmentation:

The research report includes in-depth coverage of the industry analysis with size, share, and forecast for the below segments:

Market by, Deployment:

• Cloud
• On-premise

Market by, Enterprise Size:

• Large Enterprise
• Small & Medium Enterprise

Market by, End User:

• Manufacturing
• Facility Management
• Healthcare
• Education
• Government
• Other End Users

Market by, Geography:

The enterprise asset management market report also analyzes the major geographic regions and countries of the market. The regions and countries covered in the study include:

• North America (The United States, Canada, Mexico), Market Estimates, Forecast & Opportunity Analysis
• Europe (Germany, France, UK, Italy, Spain, Rest of Europe), Market Estimates, Forecast & Opportunity Analysis
• Asia Pacific (China, Japan, India, South Korea, Australia, New Zealand, Rest of Asia Pacific), Market Estimates, Forecast & Opportunity Analysis
• South America (Brazil, Argentina, Chile, Rest of South America), Market Estimates, Forecast & Opportunity Analysis
• Middle East & Africa (UAE, Saudi Arabia, Qatar, Iran, South Africa, Rest of Middle East & Africa), Market Estimates, Forecast & Opportunity Analysis

Scope of the Report:

The report “Global Enterprise Asset Management Market: Industry Analysis, Opportunities and Forecast up to 2030” by Diligence Insights provides a detailed analysis of the present market and future outlook with market estimates and forecasts for all specified segments, encompassing both global and regional perspectives as outlined within the research framework. The study includes historical market data for the years 2022, 2023 and offers revenue estimations for 2024, and project forecasts spanning from 2025 to 2030. It places significant emphasis on the examination of market trends, key industry participants, supply chain developments, technological advancements, pivotal milestones, and prospective strategies. Comprehensive market assessments are carried out across major geographic regions, including North America, Europe, Asia Pacific, South America, and Middle East & Africa. As such, this report constitutes a valuable resource for current industry stakeholders, newcomers to the field, and potential investors.

The study offers an in-depth market analysis, drawing insights from industry experts across the value chain. A special focus has been made on 25 countries, including the United States, Canada, Mexico, the United Kingdom, Germany, Spain, France, Italy, China, Brazil, Saudi Arabia, and South Africa, among others. The market data has been meticulously collected through extensive primary interviews and comprehensive secondary research. Market size determination is rooted in the revenue generated from sales across all the specified segments and sub-segments as defined within the research scope. The market sizing analysis includes both top-down and bottom-up approaches for data validation and accuracy measures.

The report offers insights into the following aspects:

• Analysis of major market trends, factors driving, restraining, threatening, and providing opportunities for the market.
• Analysis of the market structure by identifying various segments and sub-segments of the market.
• Understand the revenue forecast of the market for North America, Europe, Asia-Pacific, South America, and Middle East & Africa.
• Analysis of opportunities by identification of high-growth segments/revenue pockets in the market.
• Understand major player profiles in the market and analyze their business strategies.
• Understand competitive developments such as joint ventures, alliances, mergers and acquisitions, and new product launches in the market.