Amid the growing adoption of IoT-enabled devices, the company

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NEWARK, Del, Nov. 17, 2022 (GLOBE NEWSWIRE) — The world enterprise asset management market is expected to reach a valuation of US$4.86 billion by 2028, with sales growing at a strong CAGR of 7.1% from 2022 to 2028. By the end of 2022, the target market is expected to reach about 3.21 billion US dollars. Due to the growth of the global economy and the rise of various start-ups and businesses, the need for effective asset management is also increasing. Also, the integration of technologically advanced tools in this market will further contribute to the growth of the enterprise asset management market over the forecast period.

In recent years, many start-ups have received government funding for new projects and the development of enterprise asset management software. Businesses large and small continue to choose enterprise asset management software because of the cost-effective optimization of the asset lifecycle for a modular and fully scalable solution that meets organizational needs. This bodes well for the target market.

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Moreover, the adoption of technologically advanced tools has a positive influence on the overall market growth. The rise of artificial intelligence (AI) and drone-based enterprise solutions are the major growth drivers for the enterprise asset management software solutions market. Indeed, AI allows better data management to make better decisions. Again, the integration of IoT with EAM software plays a vital role in the development of smart cities which promotes the growth of the target market.

Again, the use of enterprise asset management (EAM) solutions comes with a set of benefits that further promote its market growth. EAM systems provide asset visibility that provides accurate information about identities, materials, and supplies. Enterprise asset management software solutions also help control or eliminate overstocking and storage and help reduce fixed capital investments. EAM software offers much more robust analytical systems for asset management, workflow analysis, and preventive maintenance.

“Advantages of the EAM along with the high adoption rates of artificial intelligence and drone-based enterprise solutions are likely to propel the global enterprise asset management market growth over the forecast period,” says an analyst of the IMF.

Key points to remember:

  • The integration of IoT will strengthen the market prospects during the period 2022-2028.
  • In 2022, North America will hold 27.5% of the global enterprise asset management market share.
  • The high demand for asset lifecycle management will drive the US enterprise asset management market.
  • The popularity of cloud-based solutions will drive the growth of the target market in China.
  • Per deployment, the on-premises segment will generate several lucrative opportunities.
  • By the end users, the manufacturing sector will be a major contributor to the overall market growth.

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Competitive landscape

Oracle Corporation, SAP SE, Schneider Electric SE, ABB Ltd., MRI Software LLC, CGI Inc., Industrial and Financial Services (IFS) AB, Infor Inc., Ramco Systems Limited, Rockwell Automation Inc., and Bentley Systems Incorporated, among others are some of the major Enterprise Asset Management market players profiled in the full version of the report.

The major players in the market are focusing on offering new and innovative solutions, with a variety of features and other updates, rather than traditional solutions. These companies use strategic mergers and acquisition tactics to gain the upper hand in the market.

More information about the Enterprise Asset Management market report

In its latest report, FMI offers an unbiased analysis of the Global Enterprise Asset Management Market, providing historical data from 2013 to 2021 and forecast statistics from 2022 to 2028. To understand the potential, growth, and scope of the Global market, the market is segmented on the basis of deployment (on-premises enterprise asset management, cloud-based enterprise asset management), industry (government, healthcare, manufacturing, transportation and logistics, oil and gas , banking and finance, retail, others) and the region.

According to the latest IMF reports, based on segmentation, on-premises deployment type is expected to contribute significantly to the growth of the global enterprise asset management market. This segment will generate several business opportunities due to the preference for on-premises EAM systems by enterprises that need to control consumer and business data protection. In terms of end user, the manufacturing industry will be one of the largest users in the target market during the projected period.

According to region, the North America enterprise asset management market will show considerable growth during the period 2022-2028. In 2022, the region will account for 27.5% of the enterprise asset management market share, with the United States market acting as a major contributor.

The strong presence of a well-developed IT infrastructure, increasing adoption of asset lifecycle management solutions, and corporate focus on meeting regulatory and compliance standards are all fueling the growth of the target market at United States. Apart from the United States, China also exhibit notable growth in the enterprise asset management market over the forecast period.

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Key segments of the enterprise asset management industry research

Enterprise Asset Management Market By Deployment:

  • On-premises enterprise asset management
  • Cloud Enterprise Asset Management

Enterprise Asset Management Market by Industry:

  • Government
  • Health care
  • Manufacturing
  • Logistic transport
  • petroleum gas
  • Bank and finance
  • Detail
  • Others

Enterprise Asset Management Market by Region:

  • North America Enterprise Asset Management Market
  • Latin America Enterprise Asset Management Market
  • European enterprise asset management market
  • East Asia Enterprise Asset Management Market
  • South Asia & Pacific Enterprise Asset Management Market
  • Middle East and Africa (MEA) Enterprise Asset Management Market

Contents

1. Summary

1.1. Global Market Outlook

1.2. Technology roadmap

1.3. Analysis and recommendations

2. Market Overview

2.1. Market Taxonomy

2.2. Market definition

3. Key Market Trends

3.1. Key trends impacting the market

3.2. Innovation/Product Development Trends

4. Global Market Demand (by value or size in US dollars) min) Analysis 2013-2021 and Forecast, 2022-2028

4.1. Historical Market Value Analysis (USD Million), 2013-2021

4.2. Current and Future Market Value Projections (USD Million), 2022-2028

4.2.1. Analysis of annual growth trends

4.2.2. Analysis of opportunities in absolute dollars

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