The report includes in-depth competitive analysis of these key players in the EAM market, with their company profiles, recent developments, and key market strategies. The research report segments the EAM market by component (software and services), deployment type, organization size, industry vertical, and region. Learn details of the Players Analysis, Industry Technologies and Forecast to 2022
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The EAM market size is expected to grow from USD 3.44 billion in 2017 to USD 6.05 billion by 2022, at a Compound Annual Growth Rate (CAGR) of 11.9%. The increased asset of life aging infrastructure, reduced maintenance and procurement costs, increased tracking ability of assets in an organization, and improved return on assets have led to the adoption of EAM.
Lack of awareness about the benefits of deploying EAM solutions is one of the restraints for the EAM market.
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The energy and utilities industry is expected to grow at the highest CAGR during the forecast period. EAM solutions are largely deployed in the energy and utilities industry.
These solutions help address operational challenges, such as inspections, and wear and tear monitoring, and offer preventive maintenance and usage monitoring. Assets such as power stations, gas pipelines, and electricity cables are the livelihood of the utilities sector.
EAM solutions also help maximize the Returns on Investment (RoI) by providing solutions in every step of the asset lifecycle. Integration with customer information systems gives the utilities sector a complete view of asset performance and usage history by performing the utility rate analysis.
In this analysis, activities with maximum impact on costs are identified. The main reason for deploying EAM solutions in the energy and utilities industry is the increasing regulatory-driven operational requirements and civil penalties.
North America is expected to grow at the highest CAGR in the EAM market during the forecast period. EAM is a steadily growing market in North America, which includes countries, such as the US, Canada, Mexico, Hawaii, and Cuba.
With the increasing adoption of EAM solutions in the government and manufacturing industries in the US and Canada, the EAM market is set to grow at a rapid pace in this region. The Field Service Management (FSM) software is expected to be the highest revenue generator in North America, in the future.
Revenue from training and support services is also expected to surge in this region. North America is one of the largest markets for EAM solutions, in terms of market size.
The factors driving the growth of the EAM market in North America are the stable economy, technology advancements, and newer infrastructure demands.
Key Points From Table Of Content:
5 Market Overview and Industry Trends
5.2 Market Dynamics
188.8.131.52 Increased Asset Life of Aging Infrastructure
184.108.40.206 Reduced Maintenance and Procurement Costs
220.127.116.11 Increased Tracking Ability of Assets in an Organization
18.104.22.168 Improved Roa
22.214.171.124 High Deployment Cost for SMES
126.96.36.199 Lack of Awareness About Benefits of Deploying EAM Solutions
188.8.131.52 Increase in the Adoption of Cloud-Based Solutions
184.108.40.206 Integration of EAM and Big Data Analytics
220.127.116.11 Rapid Changes in Technology
18.104.22.168 Lack of Expertise and Talent
13 Company Profiles
13.1 IFS AB
13.1.2 Product Offering Scorecard
13.1.3 Business Strategy Scorecard
13.1.4 Recent Developments
13.2 Oracle Corporation
13.2.2 Product Offering Scorecard
13.2.3 Business Strategy Scorecard
13.2.4 Recent Developments
13.3 SAP SE
13.3.2 Product Offering Scorecard
13.3.3 Business Strategy Scorecard
13.3.4 Recent Developments
13.4 International Business Machines Corporation
13.5 ABB Ltd
13.6 CGI Group, Inc.
13.7 Schneider Electric Sa
13.9 Vesta Partners, LLC
13.11 Ramco Systems
13.12 Dude Solutions, Inc.
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