Key Trends in the Global Enterprise Asset Management Market (2024-2033): Innovation in Mobile Solutions and Technologies

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The enterprise asset management market has experienced rapid growth in recent years, projected to increase from $6.22 billion in 2023 to $6.87 billion in 2024, at a compound annual growth rate (CAGR) of 10.3%. The growth in the past period can be attributed to factors such as regulatory compliance, aging infrastructure, cost optimization, preventive maintenance, and integration with ERP systems.

What Is the Future Market Size of the Global Enterprise Asset Management Market and Its Yearly Growth Rate?

The enterprise asset management market is projected to experience rapid growth in the coming years, reaching $10.55 billion by 2028, with a compound annual growth rate (CAGR) of 11.3%. This growth is driven by factors such as the adoption of mobile exam solutions, a focus on sustainability, enhanced cybersecurity measures, and the development of solutions tailored to industry-specific needs.

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What Are the Main Factors Driving Enterprise Asset Management Market Expansion?

The increasing demand for SaaS-based Enterprise Asset Management (EAM) solutions is driving the market's growth. These cloud-based services allow vendors to offer applications through a subscription model. SaaS-based EAM solutions have become essential in the technology sector for functions like dashboards, mobile apps, asset tracking, performance management, forecasting, and regulatory compliance. Customers are increasingly opting for SaaS solutions over traditional on-premises systems due to advantages such as faster time to benefit, lower costs, scalability, and easier integration.

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Who Are the Main Competitors Driving the Enterprise Asset Management Market Forward?

Key players in the enterprise asset management market include International Business Machines Corporation, Oracle Corporation, Schneider Electric SE, Honeywell International Inc., SAP SE, Asea Brown Boveri Ltd., Consultants to Government and Industry Incorporated, Rockwell Automation Inc., Rockwell Automation Inc., Fluke Corporation, Infor Inc., AVEVA Group plc, Bentley Systems Incorporated, IFS AB, Accruent LLC, Ramco Systems Limited, Fingent Corporation, MRI Software LLC, Ultimo Software Solutions BV, AssetWorks LLC,

How Are New Trends Transforming the Enterprise Asset Management Market Size?

Major companies in the enterprise asset management market are concentrating on innovating new technologies, such as mobile solutions, to maintain their market position. Mobile solutions are industry-specific technologies that leverage mobile technology to meet the unique needs of different sectors, enhancing operational efficiency and accessibility.

What Are the Key Segments Within the Global Enterprise Asset Management Market?

1) By Development: On-Premise, Cloud
2) By Application: Asset Lifecycle Management, Inventory Management, Work Order Management, Labor Management, Other Applications
3) By Vertical: Energy And Utilities, Transportation And Logistics, Government And Public Sector, IT And Telecommunications, Manufacturing, Healthcare And Life Sciences, Education, Other Verticals

North America’s Role as the Foremost Player in the Enterprise Asset Management Market

North America was the largest region in the market in 2023. Asia-Pacific is expected to be the fastest-growing region in the report during the forecast period. The regions covered in the report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

What Does The Enterprise Asset Management Market Definition?
Enterprise asset management (EAM) refers to software, systems, and services used to oversee and maintain assets and equipment. It is a transactional workflow system designed to manage capital asset operations by handling asset data and work processes effectively.

The Enterprise Asset Management Global Market Report 2024 from The Business Research Company includes the following key information:
• Market size data for both historical and future periods
• Analysis of both macro and microeconomic factors that have impacted the market over the past five years
• Regional market analysis covering Asia-Pacific, China, Western Europe, Eastern Europe, North America, the USA, South America, and the Middle East and Africa
• Country-specific market analysis for Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA.

Overview of the Global Enterprise Asset Management Market Report: Trends, Opportunities, Strategies, and More
The Enterprise Asset Management Global Market Report 2024 from The Business Research Company is an extensive resource that delivers insights into enterprise asset management market size, enterprise asset management market drivers and trends, enterprise asset management competitors' revenues, and enterprise asset management market growth across geographies. This report provides valuable in-depth insights into potential opportunities and strategies. Companies can utilize the information presented to target segments with the greatest growth potential.

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