Enterprise Asset Management Market - Growing Need for a Comprehensive Increase in the Asset Cycle is Expected to Lead to Market Growth – Growing at a Compound Annual Growth Rate (CAGR) 8.5% from 2022 to 2028

Enterprise Asset Management
  • Enterprise Asset Management Market

As stated in our extensive report, the Global Enterprise Asset Management Market accounted for USD 3,294.1 Million in 2021.Enterprise Asset Management (EAM) is a set of processes and tools that allow companies to track and control their tangible assets such as machinery, equipment, buildings, and vehicles throughout their life cycle from acquisition and disposal. At its core, EAM plans to execute, perform, and tracks all maintenance activities with essential related resources, skills, building materials, tools, costs, and other information.

Factors responsible for promoting the growth of the Corporate Asset Management Market globally include the growing need for a comprehensive increase in the asset cycle and the decline in procurement & repair costs for many organizations. In addition, the increasing trend in cloud-based applications and the introduction of more advanced technologies, including significant records, are some factors that create more opportunities for growth in Business Asset Management Markets during the forecast period. However, due to the growing awareness of Enterprise Asset Management (EAM) resources and the increasing presence of large retailers & professional solution providers, it becomes a challenge for organizations that need help to choose the right mix of solutions. Although few Enterprise Asset Management (EAM) service providers offer a free demo of their solutions, there are no specific ways to select the correct answer.

In addition, organizations are concerned about their data, and data security is a priority for all, as data loss can cause both tangible and intangible losses. Businesses prefer to adopt cloud-based Enterprise Asset Management (EAM) solutions for managing sets during COVID-19 as it allows remoteness for day-to-day operations. Demand for EAM was expected to grow by 2020 as it provides effective asset management. Many businesses across all verticals have adopted work from the home model to protect employee well-being and maintain operational efficiency, which increases the need for cloud-based solutions. As more businesses can turn to improve their IT infrastructure, the need for Enterprise Asset Management (EAM) solutions will continue to grow.

will grow at a much higher Compound Annual Growth Rate (CAGR) at the time of forecasting due to the adoption of technology and the need for digital integration, which is driven by the various programs undertaken by different governments & large corporations in the region.

The well-known players of the Global Enterprise Asset Management Market include IBM (US), SAP (Germany), Oracle (US), Infor (US), IFS (Sweden), ABB (Switzerland), Intelligent Process Solutions (Germany), Maintenance Connection (US), Aveva (UK), Aptean (US), Emanit (US), CGI (Canada), Rfgen Software (US), Assetworks (US), Ultimo Software Solutions (UK), UpKeep (US), Asset Panda (US), EZOfficeInventory (US), EZMaintain.com (US), Pazo (India), Asset Infinity (India), KloudGin (US), Fracttal (Chile), InnoMaint Software (India), Aladinme (UAE), Limble (US), Redlist (US), TrackX (US), Cheqroom (Belgium), The Asset Guardian (Canada), GoCodes (US), Fleetio (US) and others.