Enterprise Asset Management (EAM) Market Analysis | CMI

1

• Coherent Market Insights
• Market Research and Business Consulting Services
• https//www.coherentmarketinsights.com/
• COVID-19 Impact Tracker

2
ENTERPRISE ASSET MANAGEMENT (EAM) MARKET
ANALYSIS

• Enterprise Asset Management (EAM) Market, By
  Vertical (Public Sector, Manufacturing, Oil and
  Gas, Healthcare and Pharmaceutical Industry,
  Energy and Utility, Transportation, Wholesale and
  Distribution, Food Beverages, Paper and
  Packaging, Chemical and Process Industry
  (Including Steel Industry), Mining, Service
  Industry), By Solution (Database Solution,
  Analytics Solution, Mobile Solution, Cloud-based
  Solution), By Service (Consulting Service,
  Implementation Service, Training and Support
  Service, Outsourcing Service), By Geography
  (North America, Latin America, Europe, Asia
  Pacific Excluding Japan, MEA, Japan) - Size,
  Share, Outlook, and Opportunity Analysis, 2019 -
  2027
• The global enterprise asset management market is
  estimated to account for US 2470.74 Mn in terms
  of value by the end of 2019.

3
Market Drivers

• Growing investment by organizations in EAM
  software is expected to drive the global
  Enterprise Asset Management Market during the
  forecast period
• Increasing investment by organizations on
  enterprise asset management software is expected
  to drive growth of the global enterprise asset
  management market during the forecast period.
  Various governmental and corporate organizations
  around the world are employing EAM software, in
  order to optimize the companys work efficiency
  and save money. For instance, in August 2019,
  Infor, Inc., a U.S.-based enterprise software
  company, received the contract for EAM solution
  from Auckland Transport (AT) to manage its asset
  in future. AT manages a public transport system
  that includes assets of US 1.02 billion with 43
  railway stations, 21 ferry wharves, and 2,337 bus
  stations.
• Growing emergence of IoT such as smartphones is
  expected to propel the global enterprise asset
  management market
• Furthermore, rising emergence of Internet of
  Things (IoT) such as smartphones, medical
  electronics, automobiles, thermostats, and more,
  which allows devices to communicate and send and
  receive data is expected to propel the global
  enterprise asset management market growth over
  the forecast period.

4

• North America region dominated the global
  enterprise asset management market in 2018,
  accounting for 31.2 share in terms of value,
  followed by Europe and Latin America,
  respectively

5
Market Restraints

• High cost associated with installation of EAM
  software is expected to restrain the market
  growth
• High cost of enterprise asset management
  software, especially for small and medium-sized
  companies is expected restrain growth of the
  global enterprise asset management market in the
  near future. Various companies such as IBM and
  SAP SE offers EAM solutions, though they are not
  always affordable for small- or medium-sized
  companies. Moreover, its implementation is time
  intensive, which would cost the company.
• Lack of trained personal is to deploy EAM
  software is expected to hinder the market growth
• Moreover, lack of skilled professionals to deploy
  EAM software is expected to hamper the market
  growth in the near future. Although there is no
  specific career path for EAM solutions for an
  individual, companies often understaff this
  particular domain. Moreover, this process is
  spanned through multiple departments and lack of
  coordination among those department can make it
  challenging to reach towards the same goal.

6
Market Trends

• Growing focus of key market players on
  cloud-based EAM solution to be the popular trend
• Key players in the market are focused on
  providing cloud-based EAM solutions, so as to
  facilitate increasing demand around various
  industrial verticals, especially in small- and
  medium-sized enterprises. For instance, in April
  2016, Oracle Corporation entered into partnership
  with GE Digital, in order to develop
  platform-as-a-service (PaaS) EAM solution, to
  facilitate digital connectivity of industrial
  assets worldwide.
• Rising integration of predictive analysis to be a
  major trend in the market
• Furthermore, various EAM solutions providers such
  as IBM Corporation and SAP SE are incorporating
  predictive analytics solutions with EAM solution,
  so as to reduce cost and manage assets
  effectively. For instance, in April 2016, SAP SE
  launched SAP Asset Intelligence Network and SAP
  Predictive Maintenance and Service solution, in
  order to facilitate asset operators, equipment
  manufacturers, and service providers to reduce
  costs.

7
Market Opportunities

• Extending the Asset Lifecycle With the Help of
  Advanced Technologies
• Digitization across different verticals are
  creating new opportunities for organizations to
  optimize their relationship with the customers.
  Many asset-intensive organizations are focusing
  on investing in new advanced technologies to
  radically transform and improve their operational
  processes. Best-in-class organizations are
  embracing emerging advanced technologies such as,
  Artificial Intelligence (AI), Augmented Reality
  (AR), Internet of Things (IoT), digital twin,
  predictive maintenance, and telematics as the
  next big thing in industrial services are
  expected to pose excellent growth opportunities
  for market players during forecast period.

8

• Integration of AI and Drone-based Asset
  Management
• Integration of artificial intelligence (AI) and
  drone-based asset management is one of the
  opportunities for the growth of players operating
  in the enterprise asset management market. AI is
  used to improve data handling in which data can
  be analyzed from the records which can enable
  mid-level management to make better and fasten
  the decision-making process. Further, drone-based
  asset management helps in collection of
  information from places that are out of human
  reach. The collected information can be given to
  system for further processes. For instance,
  drone-based enterprise asset management can be
  used in bridges, cargo ships, airplanes, oil
  refineries, offshore oil drilling platforms and
  railroad beds, which is expected to pose
  excellent growth opportunities in global
  enterprise asset management market during the
  forecast period.

9
Regulations

• PAS55 Public Available Specification or PAS was
  developed by Institute of Asset Management (IAM)
  and British Standard Institution (BSI) between
  2002 and 2004. PAS, publicized in 2004, is
  explicitly focused on optimal management of
  physical assets. Moreover, it has been
  extensively adopted by mining, transport,
  manufacturing, and utilities industries.

10
Segment Information

• The manufacturing segment of global enterprise
  asset management market was valued at US 398.01
  million in 2019 and is expected grow at a CAGR of
  9.3 between 2019 and 2027.

11
Competitive Section

• Key players operating in the global enterprise
  asset management market are IBM Corporation, SAP
  SE, Oracle Corporation, ABB Ltd., IFSAB, Infor,
  Inc., Ultimo Software Solutions BV, CARL
  International SA e Maint Enterprises, LLC,
  Mainsaver, Inc. MEX Pty Ltd., and Asset Works
  LLC.

12
Key Developments

• Key players in the market are involved in various
  growth strategies such as product launch, in
  order to enhance the market presence. For
  instance, in December 2018, SAP SE, a
  Germany-based software corporation, introduced
  SAP Intelligent Asset Management (SIAM) with
  incorporation of planning, collaborative asset
  intelligence, prediction and simulation for
  equipment maintenance.
• Major companies in the market are adopting
  inorganic strategies such as collaborations and
  partnerships, in order to gain competitive edge
  in the market. For instance, in October 2019,
  Ultimo Software Solutions partnered with Senseye
  Ltd., to incorporate Ultimos Enterprise Asset
  Management System and Senseyes predictive
  maintenance.

13

• Request Sample Report
• Request Customization
• Download PDF Brochure
• Talk to Analyst
• Reference https//www.coherentmarketinsights.com
  /market-insight/enterprise-asset-management-market
  -3136

14
About Us

• Coherent Market Insights is a global market
  intelligence and consulting organization focused
  on assisting our plethora of clients achieve
  transformational growth by helping them make
  critical business decisions.
• What we provide
• Customized Market Research Services
• Industry Analysis Services
• Business Consulting Services
• Market Intelligence Services
• Long term Engagement Model
• Country Specific Analysis

15
Contact Us

• Mr. Shah
• Coherent Market Insights Pvt.Ltd.
• Address 1001 4th Ave, 3200 Seattle, WA 98154,
  U.S.
• Phone [phone]
• Email sales_at_coherentmarketinsights.com

16

• Thank You!
• Kindly follow CMI Social Media Profiles
  for the latest company updates
• Facebook
• Linkedin
• Twitter
• https//www.coherentmarketinsights.com/