According to a recent study report published by the Market Research Future, The global Enterprise Asset Management Market is booming and expected to gain prominence over the forecast period. The Market is forecasted to demonstrate a humongous growth by 2022, surpassing its previous growth records in terms of value with a whooping CAGR during the anticipated period (2016 – 2022). In 2016, the Global Enterprise Asset Management Software valued at USD ~4 billion which is expected to grow to USD ~ 8 billion by the end of forecast period with a double digit CAGR of ~11%. Which means the market will increase twofold.
The factors that drive the market growth of Enterprise Asset Management Software include growing worldwide economy, increasing number of start –ups (enterprises/businesses) and the fast growing businesses coupled with the need to effectively manage valuable assets of organizations. Additionally Government’s encouraging initiatives and funding allotted for new businesses, venture and product development (One such as Make in India) is fostering the market growth up to a large extent. Moreover promising features of Enterprise Asset Management Software which provide cost effective optimization of asset life cycle and offer a fully scalable, modular solution that grows with the needs of organizations provides impetus to market sales of EAM eventually, accelerating its market growth.
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SAP SE (Germany),
Oracle Corporation (U.S.),
Schneider Electric (France),
AssetWorks LLC (U.S.),
IFS AB (Sweden),
ABB Group (Switzerland),
Mintek Mobile Data Solutions (U.S.), Ramco Systems (India) among others.
According to MRFR, The Global Enterprise Asset Management Software Market has been valued at US ~$4 billion which is expected to grow at US ~$8 billion by the end of forecast period with CAGR of ~11%.
The Global EAM Market has been segmented on the basis of Deployment, Organization Type and Application Vertical. By Deployment, the market has been segmented as On Cloud and On Premises. By Organization Type the market has been segmented as SMEs and Large organization whereas the Applications Verticals of EAM has been identified as Government, Manufacturing, Healthcare, Transportation, Oil and Gas, Aerospace & Defence among others.
North America is dominating the market of EAM due to the presence of global players in U.S. Growing Organization Sizes and increasing application areas of EAM is supporting the market of EAM in North America. Europe holds second position in the global market whereas Asia-Pacific has emerged as fastest growing market. Growing economy of Asian countries such as India and China and rich presence of manufacturing companies in Asian countries are some major factor which is driving the market.
At present, there are two major trends that are and will continue ruling the global enterprise asset management market in the coming years as well. The trends have been listed below.
• Mobility – Mobile applications will aid individuals to undertake tasks that are important without being present there physically, thus saving a whole lot of time and energy.
• Cloud – Cloud hosting will offer a number of benefits like enhanced project management, reduced expenses and versatility.
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- Enterprise Asset Management Software Providers
- SMEs and Large Enterprise Asset Management Organization
- Training and Education Service Providers
- Enterprise Asset Management Vendors
- Construction Companies
- Cloud Service Providers
- Network Service Providers
- Support and Maintenance Service Providers
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