According to Future Market Insights’ report titled, “Enterprise Asset Management Systems Market: Global Industry Analysis (2013-2017) and Opportunity Assessment (2018-2028)”, the enterprise asset management systems market is expected to be valued at $ 4,863.1 Million in 2028, and is expected to register a CAGR of 7.7% from 2018 to 2028. Improved ROI with the aid of EAM solutions, widespread penetration of IoT, and the gradual increase in investment on software are expected to be major factors driving growth.
Enterprise asset management software is primarily used by the enterprises across different industry verticals, which are heavily dependent on complex and expensive physical assets. Enterprise asset management software is offered with the deployment options of on-premise or cloud based.
The market is categorized based on component, deployment, vertical, and region.
- Based on component, the market is segmented as solution and services. The services segment is further bifurcated into consulting services and professional services. The services segment is expected to register a CAGR of 7.8% during the forecast period.
- Based on deployment, the enterprise asset management systems market is segmented into on-premise and cloud. The revenue contribution from the clouds segment is expected to expand at a CAGR of 9.0% during the forecast period.
- Based on vertical, enterprise asset management systems market is segmented as public sector, manufacturing, oil and gas, healthcare and pharmaceutical industry, energy and utility, transportation, wholesale and distribution, food and beverages, paper and packaging, chemical and process industry (including steel industry), mining and service industry. The revenue contribution from the manufacturing segment is expected to expand at a CAGR of 9.4% during the forecast period.
- Among the regions, North America is projected to exhibit relatively high growth in the global market, registering a CAGR of 9.3% over the forecast period. The revenue from the markets in North America and Western Europe are expected to represent a combined share of 45.3% of the total market revenue by the end of forecast period. Some of the top companies identified across the Enterprise Asset Management Systems value chain are IBM Corporation, SAP SE, Oracle Corporation, ABB Ltd, IFS Ltd, Infor Inc., Ultimate Software Solutions BV, Carl International SA, Mainsaver Inc., Mex Pty Ltd and others.
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