Enterprise Asset Management Market Research Report- Forecast till 2022
As per Market Research Future (MRFR) analysis, the global enterprise asset management market is expected to grow at USD 8 billion, with a CAGR of 11% from 2016 to 2022 (forecast period). The report provides a summary of the market opportunities and market implications that emerged as a result of the COVID-19 pandemic. The comprehensive study report focuses on the positive and negative impacts of COVID-19 on market trends, emerging technologies, government regulations, and strategies implemented by major industry players.
Enterprise Asset Management is the term used for software that helps companies interpret and control corporate assets in a comprehensive manner. When companies continue to grow, they need a program that keeps track of their assets and helps to manage them. It is the key driver of the market for enterprise asset management software, and, as the world economy expands, it is predicted that the global market for EAM will continue to grow.
Key factors propelling the industry’s growth include a strong emphasis on the best utilization of assets, a growing need to minimize maintenance and procurement costs, industry digitization, increasing market competition, the cloud adoption, and increasing internet penetration.
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The global market for enterprise asset management has been segmented on the basis of deployment, organization type, and application vertical.
On the basis of deployment, the global market for enterprise asset management has been segmented into On Cloud and On Premises.
On the basis of organization type, the global market for enterprise asset management has been segmented into SMEs and Large organization
On the basis of application verticals, the global market for enterprise asset management has been segmented into government, manufacturing, healthcare, transportation, oil and gas, aerospace & defense, among others.
Region-wise, the global market for enterprise asset management has been segmented into North America, Asia Pacific, and the rest of the world.
North America dominates the EAM market due to the involvement of major players in the U.S. Growing organization sizes and increasing application areas of EAM boost the demand for EAM in North America.
Europe is second in the global market, while the Asia Pacific has emerged as the fastest-growing market. The booming economy of Asian countries, such as India and China, and the vibrant presence of manufacturing companies in Asian countries are some of the key factors driving the market.
The key participants identified by MRFR in the global enterprise asset management market are SAP SE (Germany), Infor (U.S.), IBM (U.S.), 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.
In April 2020, Koch Industries Inc. reported that it had completed the acquisition of Infor Inc. from Golden Gate Capital for an undisclosed amount. With this acquisition, the former company intends to drive digital transformation while providing Infor Inc. with resources and market experience to continue to expand its expertise in mission-critical software for industries such as manufacturing, retail, and distribution. In addition, Infor ‘s healthcare operations platform and solutions will boost Koch ‘s capabilities in the healthcare sector, where the company is already engaged in providing connected medical devices and hospital supplies.
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Enterprise Asset Management Market, by Deployment (On Cloud, On Premises), by Organization Type (SMEs, Large Organization), by Application Vertical (Government, Manufacturing, Healthcare, Transportation, Oil & Gas, Aerospace & Defence) – Forecast 2016-2022
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