Enterprise Asset Management Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032
Growth Factors of Enterprise Asset Management Market
The Enterprise Asset Management Market size was valued at USD 5.60 billion in 2023, and the market is now projected to grow from USD 6.09 billion in 2024 to USD 13.69 billion by 2032, exhibiting a CAGR of 10.9% during the forecast period of 2024-2032.
Customers as well as industries shifted their preference during COVID-19 specially towards hygienic and cleaning products. With strong impact on digital spending, the spending on the market was declined by 3.2% to USD 3.6 trillion in 2020. Automated solutions have gained all the attention due to lockdown measure where physical interaction was completely banned and from small to medium sized businesses all turned towards digital options to reduce physical contact, led to the Enterprise Asset Management Market growth.
With key players adoption of cloud-based solution to use their capabilities and benefits, there is significant rise on Enterprise Asset Management Market Share. Security, cost-effectiveness, user experience, smart manufacturing and industrial IoT technologies are the primary drivers for the growing adoption. With cloud-based enterprise asset management, companies are having ease of deployment and affordability, and globalisation and standardisation of market is boosting the demand for cloud-based software and services. With proper strategy and planning companies are introducing new cloud-based management solutions to expand their business.
Vendors are working on some advanced solutions for which they are integrating artificial intelligence (AI) into asset management software to improve the software’s capabilities. With the AI incorporation in the software, there are various features coming with it as well such as Natural Language Processing(NLP), deep learning, and machine learning (ML),with these asset analysis is able to perform at every lifecycle stage. The benefit from these advance feature is that it is providing real-time insights and forecasts for future operations, it give access to enterprises to manage outgoing operations more effectively. With the help of AI-powered chatbots, communication is smooth between machines and humans, that saves times and generated data from these interactions can also be used into analytics engines which will work for optimising management processes. With growing trends in fast growing market, the companies are recognising growth opportunities and innovating these technologies.
Comprehensive Analysis of Enterprise Asset Management Market
The Enterprise Asset Management Market and Information & Communication Technology industry is rising at an exponential rate due to its market segmentation. This market expansion effectively provides a detailed regional assessments considering the dominant supply and demand forces that impact the technology benefit management industry. These segmentations are methodically segregated By Application Analysis, By Deployment Analysis, By Enterprise Type Analysis and By End-user Analysis. The application includes; Asset Lifecycle Management, Labor Management, Inventory Management, Predictive Maintenance, Work Order Management, Others (Risk Scoring), By deployment it includes; On-premises, & Cloud, by enterprises it includes; Large Enterprises, & Small and Medium Enterprises. However, the end users such as Healthcare, Government, IT & Telecom, BFSI, Manufacturing, Energy & Utility, Transportation, & Others (Education).
North America is leading the world market of enterprise asset management, due to growing preference for enterprise operations efficacy and constant focus on streamlining asset management. The region is a primary hub for technological firms specialising in management solutions, with key players’ investment in innovative solutions to serve enterprises efficiently.
The top players in the market play a crucial role in the technology driven industry assuring industrial prospectus growth and setting market standards. These players include, IBM Corporation (U.S.), SAP SE (Germany), Oracle Corporation (U.S.), Sage Group Plc. (U.K.), Ramco System (India), IFS AB (Sweden), Hexagon AB (Sweden), ServiceNow Inc. (U.S.), Hitachi Ltd. (Japan), UpKeep Technologies, Inc. (U.S.) these market players provide a level-playing competitive landscape.
March 2023: OpenGoc a San Francisco based company has launched a GIS-based cloud software. This software is for enterprise asset management, which offers them various solutions such as order management, asset management, infrastructure maintenance and the customer base is upto to 200 in the U.S.
Segmentation Table
Attribute Details
Study Period 2019-2032
Base Year 2023
Estimated Year 2024
Forecast Period 2024-2032
Historical Period 2019-2022
Growth Rate CAGR of 10.9% from 2024 to 2032
Unit Value (USD Billion)
Segmentation By Application
Asset Lifecycle Management
Labor Management
Inventory Management
Predictive Maintenance
Work Order Management
Others (Risk Scoring)
By Deployment
On-premises
Cloud
By Enterprise Type
Large Enterprises
Small and Medium Enterprises
By End-user
Healthcare
Government
IT & Telecom
BFSI
Manufacturing
Energy & Utility
Transportation
Others (Education)
By Region
North America (By Application, Deployment, Enterprise Type, End-user, and Country)
- U.S. (By End-user)
- Canada (By End-user)
- Mexico (By End-user)
South America (By Application, Deployment, Enterprise Type, End-user, and Country)
- Brazil (By End-user)
- Argentina (By End-user)
- Rest of South America
Europe (By Application, Deployment, Enterprise Type, End-user, and Country)
- U.K. (By End-user)
- Germany (By End-user)
- France (By End-user)
- Italy (By End-user)
- Spain (By End-user)
- Russia (By End-user)
- Benelux (By End-user)
- Nordics (By End-user)
- Rest of Europe
Middle East & Africa (By Application, Deployment, Enterprise Type, End-user, and Country)
- Turkey (By End-user)
- Israel (By End-user)
- GCC (By End-user)
- North Africa (By End-user)
- South Africa (By End-user)
- Rest of MEA
Asia Pacific (By Application, Deployment, Enterprise Type, End-user, and Country)
- China (By End-user)
- Japan (By End-user)
- India (By End-user)
- South Korea (By End-user)
- ASEAN (By End-user)
- Oceania (By End-user)
- Rest of Asia Pacific
Please Note: It will take 2-3 business days to complete the report upon order confirmation.
- 1. Introduction
- 1.1. Definition, By Segment
- 1.2. Research Methodology/Approach
- 1.3. Data Sources
- 2. Executive Summary
- 3. Market Dynamics
- 3.1. Macro and Micro Economic Indicators
- 3.2. Drivers, Restraints, Opportunities and Trends
- 4. Competition Landscape
- 4.1. Business Strategies Adopted by Key Players
- 4.2. Consolidated SWOT Analysis of Key Players
- 4.3. Global Enterprise Asset Management Key Players Market Share Insights and Analysis, 2023
- 5. Global Enterprise Asset Management Market Size Estimates and Forecasts, By Segments, 2019-2032
- 5.1. Key Findings
- 5.2. By Application (USD)
- 5.2.1. Asset Lifecycle Management
- 5.2.2. Inventory Management
- 5.2.3. Work Order Management
- 5.2.4. Labor Management
- 5.2.5. Predictive Maintenance
- 5.2.6. Others (Risk Scoring, etc.)
- 5.3. By Deployment (USD)
- 5.3.1. On-premises
- 5.3.2. Cloud
- 5.4. By Enterprise Type (USD)
- 5.4.1. Large Enterprises
- 5.4.2. Small & Medium Enterprises
- 5.5. By End-user (USD)
- 5.5.1. Healthcare
- 5.5.2. Government
- 5.5.3. IT & Telecom
- 5.5.4. BFSI
- 5.5.5. Manufacturing
- 5.5.6. Energy & Utility
- 5.5.7. Transportation
- 5.5.8. Others (Education, etc.)
- 5.6. By Region (USD)
- 5.6.1. North America
- 5.6.2. South America
- 5.6.3. Europe
- 5.6.4. Middle East & Africa
- 5.6.5. Asia Pacific
- 6. North America Enterprise Asset Management Market Size Estimates and Forecasts, By Segments, 2019-2032
- 6.1. Key Findings
- 6.2. By Application (USD)
- 6.2.1. Asset Lifecycle Management
- 6.2.2. Inventory Management
- 6.2.3. Work Order Management
- 6.2.4. Labor Management
- 6.2.5. Predictive Maintenance
- 6.2.6. Others (Risk Scoring, etc.)
- 6.3. By Deployment (USD)
- 6.3.1. On-premises
- 6.3.2. Cloud
- 6.4. By Enterprise Type (USD)
- 6.4.1. Large Enterprises
- 6.4.2. Small & Medium Enterprises
- 6.5. By End-user (USD)
- 6.5.1. Healthcare
- 6.5.2. Government
- 6.5.3. IT & Telecom
- 6.5.4. BFSI
- 6.5.5. Manufacturing
- 6.5.6. Energy & Utility
- 6.5.7. Transportation
- 6.5.8. Others (Education, etc.)
- 6.6. By Country (USD)
- 6.6.1. United States
- 6.6.1.1. By End-user
- 6.6.2. Canada
- 6.6.2.1. By End-user
- 6.6.3. Mexico
- 6.6.3.1. By End-user
- 7. South America Enterprise Asset Management Market Size Estimates and Forecasts, By Segments, 2019-2032
- 7.1. Key Findings
- 7.2. By Application (USD)
- 7.2.1. Asset Lifecycle Management
- 7.2.2. Inventory Management
- 7.2.3. Work Order Management
- 7.2.4. Labor Management
- 7.2.5. Predictive Maintenance
- 7.2.6. Others (Risk Scoring, etc.)
- 7.3. By Deployment (USD)
- 7.3.1. On-premises
- 7.3.2. Cloud
- 7.4. By Enterprise Type (USD)
- 7.4.1. Large Enterprises
- 7.4.2. Small & Medium Enterprises
- 7.5. By End-user (USD)
- 7.5.1. Healthcare
- 7.5.2. Government
- 7.5.3. IT & Telecom
- 7.5.4. BFSI
- 7.5.5. Manufacturing
- 7.5.6. Energy & Utility
- 7.5.7. Transportation
- 7.5.8. Others (Education, etc.)
- 7.6. By Country (USD)
- 7.6.1. Brazil
- 7.6.1.1. By End-user
- 7.6.2. Argentina
- 7.6.2.1. By End-user
- 7.6.3. Rest of South America
- 8. Europe Enterprise Asset Management Market Size Estimates and Forecasts, By Segments, 2019-2032
- 8.1. Key Findings
- 8.2. By Application (USD)
- 8.2.1. Asset Lifecycle Management
- 8.2.2. Inventory Management
- 8.2.3. Work Order Management
- 8.2.4. Labor Management
- 8.2.5. Predictive Maintenance
- 8.2.6. Others (Risk Scoring, etc.)
- 8.3. By Deployment (USD)
- 8.3.1. On-premises
- 8.3.2. Cloud
- 8.4. By Enterprise Type (USD)
- 8.4.1. Large Enterprises
- 8.4.2. Small & Medium Enterprises
- 8.5. By End-user (USD)
- 8.5.1. Healthcare
- 8.5.2. Government
- 8.5.3. IT & Telecom
- 8.5.4. BFSI
- 8.5.5. Manufacturing
- 8.5.6. Energy & Utility
- 8.5.7. Transportation
- 8.5.8. Others (Education, etc.)
- 8.6. By Country (USD)
- 8.6.1. United Kingdom
- 8.6.1.1. By End-user
- 8.6.2. Germany
- 8.6.2.1. By End-user
- 8.6.3. France
- 8.6.3.1. By End-user
- 8.6.4. Italy
- 8.6.4.1. By End-user
- 8.6.5. Spain
- 8.6.5.1. By End-user
- 8.6.6. Russia
- 8.6.6.1. By End-user
- 8.6.7. Benelux
- 8.6.7.1. By End-user
- 8.6.8. Nordics
- 8.6.8.1. By End-user
- 8.6.9. Rest of Europe
- 9. Middle East & Africa Enterprise Asset Management Market Size Estimates and Forecasts, By Segments, 2019-2032
- 9.1. Key Findings
- 9.2. By Application (USD)
- 9.2.1. Asset Lifecycle Management
- 9.2.2. Inventory Management
- 9.2.3. Work Order Management
- 9.2.4. Labor Management
- 9.2.5. Predictive Maintenance
- 9.2.6. Others (Risk Scoring, etc.)
- 9.3. By Deployment (USD)
- 9.3.1. On-premises
- 9.3.2. Cloud
- 9.4. By Enterprise Type (USD)
- 9.4.1. Large Enterprises
- 9.4.2. Small & Medium Enterprises
- 9.5. By End-user (USD)
- 9.5.1. Healthcare
- 9.5.2. Government
- 9.5.3. IT & Telecom
- 9.5.4. BFSI
- 9.5.5. Manufacturing
- 9.5.6. Energy & Utility
- 9.5.7. Transportation
- 9.5.8. Others (Education, etc.)
- 9.6. By Country (USD)
- 9.6.1. Turkey
- 9.6.1.1. By End-user
- 9.6.2. Israel
- 9.6.2.1. By End-user
- 9.6.3. GCC
- 9.6.3.1. By End-user
- 9.6.4. North Africa
- 9.6.4.1. By End-user
- 9.6.5. South Africa
- 9.6.5.1. By End-user
- 9.6.6. Rest of MEA
- 10. Asia Pacific Enterprise Asset Management Market Size Estimates and Forecasts, By Segments, 2019-2032
- 10.1. Key Findings
- 10.2. By Application (USD)
- 10.2.1. Asset Lifecycle Management
- 10.2.2. Inventory Management
- 10.2.3. Work Order Management
- 10.2.4. Labor Management
- 10.2.5. Predictive Maintenance
- 10.2.6. Others (Risk Scoring, etc.)
- 10.3. By Deployment (USD)
- 10.3.1. On-premises
- 10.3.2. Cloud
- 10.4. By Enterprise Type (USD)
- 10.4.1. Large Enterprises
- 10.4.2. Small & Medium Enterprises
- 10.5. By End-user (USD)
- 10.5.1. Healthcare
- 10.5.2. Government
- 10.5.3. IT & Telecom
- 10.5.4. BFSI
- 10.5.5. Manufacturing
- 10.5.6. Energy & Utility
- 10.5.7. Transportation
- 10.5.8. Others (Education, etc.)
- 10.6. By Country (USD)
- 10.6.1. China
- 10.6.1.1. By End-user
- 10.6.2. Japan
- 10.6.2.1. By End-user
- 10.6.3. India
- 10.6.3.1. By End-user
- 10.6.4. South Korea
- 10.6.4.1. By End-user
- 10.6.5. ASEAN
- 10.6.5.1. By End-user
- 10.6.6. Oceania
- 10.6.6.1. By End-user
- 10.6.7. Rest of Asia Pacific
- 11. Company Profiles for Top 10 Players (Based on data availability in public domain and/or on paid databases)
- 11.1. IBM Corporation
- 11.1.1. Overview
- 11.1.1.1. Key Management
- 11.1.1.2. Headquarters
- 11.1.1.3. Offerings/Business Segments
- 11.1.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.1.2.1. Employee Size
- 11.1.2.2. Past and Current Revenue
- 11.1.2.3. Geographical Share
- 11.1.2.4. Business Segment Share
- 11.1.2.5. Recent Developments
- 11.2. SAP SE
- 11.2.1. Overview
- 11.2.1.1. Key Management
- 11.2.1.2. Headquarters
- 11.2.1.3. Offerings/Business Segments
- 11.2.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.2.2.1. Employee Size
- 11.2.2.2. Past and Current Revenue
- 11.2.2.3. Geographical Share
- 11.2.2.4. Business Segment Share
- 11.2.2.5. Recent Developments
- 11.3. Oracle Corporation
- 11.3.1. Overview
- 11.3.1.1. Key Management
- 11.3.1.2. Headquarters
- 11.3.1.3. Offerings/Business Segments
- 11.3.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.3.2.1. Employee Size
- 11.3.2.2. Past and Current Revenue
- 11.3.2.3. Geographical Share
- 11.3.2.4. Business Segment Share
- 11.3.2.5. Recent Developments
- 11.4. Sage Group Plc.
- 11.4.1. Overview
- 11.4.1.1. Key Management
- 11.4.1.2. Headquarters
- 11.4.1.3. Offerings/Business Segments
- 11.4.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.4.2.1. Employee Size
- 11.4.2.2. Past and Current Revenue
- 11.4.2.3. Geographical Share
- 11.4.2.4. Business Segment Share
- 11.4.2.5. Recent Developments
- 11.5. Ramco System
- 11.5.1. Overview
- 11.5.1.1. Key Management
- 11.5.1.2. Headquarters
- 11.5.1.3. Offerings/Business Segments
- 11.5.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.5.2.1. Employee Size
- 11.5.2.2. Past and Current Revenue
- 11.5.2.3. Geographical Share
- 11.5.2.4. Business Segment Share
- 11.5.2.5. Recent Developments
- 11.6. IFS AB
- 11.6.1. Overview
- 11.6.1.1. Key Management
- 11.6.1.2. Headquarters
- 11.6.1.3. Offerings/Business Segments
- 11.6.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.6.2.1. Employee Size
- 11.6.2.2. Past and Current Revenue
- 11.6.2.3. Geographical Share
- 11.6.2.4. Business Segment Share
- 11.6.2.5. Recent Developments
- 11.7. Hexagon AB
- 11.7.1.
- 11.7.1.1. Overview
- 11.7.1.2. Key Management
- 11.7.1.3. Headquarters
- 11.7.1.4. Offerings/Business Segments
- 11.7.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.7.2.1. Employee Size
- 11.7.2.2. Past and Current Revenue
- 11.7.2.3. Geographical Share
- 11.7.2.4. Business Segment Share
- 11.7.2.5. Recent Developments
- 11.8. ServiceNow, Inc.
- 11.8.1. Overview
- 11.8.1.1. Key Management
- 11.8.1.2. Headquarters
- 11.8.1.3. Offerings/Business Segments
- 11.8.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.8.2.1. Employee Size
- 11.8.2.2. Past and Current Revenue
- 11.8.2.3. Geographical Share
- 11.8.2.4. Business Segment Share
- 11.8.2.5. Recent Developments
- 11.9. Hitachi, Ltd.
- 11.9.1. Overview
- 11.9.1.1. Key Management
- 11.9.1.2. Headquarters
- 11.9.1.3. Offerings/Business Segments
- 11.9.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.9.2.1. Employee Size
- 11.9.2.2. Past and Current Revenue
- 11.9.2.3. Geographical Share
- 11.9.2.4. Business Segment Share
- 11.9.2.5. Recent Developments
- 11.10. UpKeep Technologies, Inc.
- 11.10.1. Overview
- 11.10.1.1. Key Management
- 11.10.1.2. Headquarters
- 11.10.1.3. Offerings/Business Segments
- 11.10.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.10.2.1. Employee Size
- 11.10.2.2. Past and Current Revenue
- 11.10.2.3. Geographical Share
- 11.10.2.4. Business Segment Share
- 11.10.2.5. Recent Developments
- 12. Key Takeaway
Research Assistance
Download our eBook: How to Succeed Using Market Research
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.
Download eBook