The Computerized Maintenance Management System (CMMS) market revenue totalled USD 1,636.2 Million in 2022 and is projected to reach USD 4,215.1 Mn by 2033. The market is estimated to grow at a CAGR of 9.1% from 2023 to 2033.
| Attribute | Details |
|---|---|
| Estimated year (2023) Value | USD 1,636.3 Million |
| Projected year (2033) Value | USD 4,215.1 Million |
| CAGR% (2023 to 2033) | 9.1% |
| Top 5 Vendor Market Share | Around 20% |
The CMMS market contributes 20% to the global asset management market. The increasing demand for CMMS software among small and mid-sized businesses and the rising adoption of CMMS software in the energy and utility sector has increased the demand for CMMS.
Preventive maintenance scheduling, inventory management, maintenance expense record keeping, work requests and work order management, and audit and compliance record management are processes automated by CMMS solutions.
CMMS and enterprise asset management (EAM) are both asset management or maintenance systems. EAM helps in complete asset lifecycle management which includes operations, procurement, planning, and disposal of assets. CMMS is used in managing and maintenance of equipment and machinery.
| Market Statistics | Details |
|---|---|
| Jan to Jun (H1), 2021 (A) | 8.8% |
| Jul to Dec (H2), 2021 (A) | 8.9% |
| Jan to Jun (H1),2022 Projected (P) | 8.9% |
| Jan to Jun (H1),2022 Outlook (O) | 9.1% |
| Jul to Dec (H2), 2022 Outlook (O) | 9.2% |
| Jul to Dec (H2), 2022 Projected (P) | 9.0% |
| Jan to Jun (H1), 2023 Projected (P) | 9.7% |
| BPS Change : H1,2022 (O) - H1,2022 (P) | (+) 21 |
| BPS Change : H1,2022 (O) - H1,2021 (A) | (+) 31 |
| BPS Change: H2, 2022 (O) - H2, 2022 (P) | (+)25 |
| BPS Change: H2, 2022 (O) - H2, 2022 (A) | (+)35 |
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The computerized maintenance management system (CMMS) market is estimated to rise at 9.1% CAGR between 2023 to 2033 in comparison with the 7.0% CAGR registered from 2018 to 2022. CMMS software allows the balancing of resources and maintains the costs to keep backlogs in check.
The software captures small repairs that would otherwise go unnoticed and enables maintenance tasks to be properly scheduled, assigned, and prioritized before any major failure occurs.
CMMS software provides assistance in manufacturing plants. The software prevents machines & equipment from failing and breakdown. Thus, several large and start-up manufacturing firms are focusing on implementing CMMS software to manage maintenance activities, prevent machine breakdowns, and prepare for future repairs.
The global CMMS industry is anticipating to witness an increase in revenue from ~USD 1,636.2 Million in 2023 to ~USD 4,215.1 Million by 2033.
The Internet of Things (IoT) and Industry 4.0 remains a much popular subject. Industry 4.0 encompasses the latest industrial revolution. AI and IoT have changed the way machines collect and interpret data.
Technology is playing a larger role in CMMS. IoT devices are deployed everywhere in a factory, not just on large machinery devices, but also to do things such as temperature monitoring, humidity monitoring, and collecting data on other environmental factors.
This massive amount of data generated through IoT devices is fed into a CMMS, and analysis is done to make sure everything is running the way it should. Moreover, predictive analytics is used to peer into the future and see potential issues. The CMMS can then be used to resolve them.
CMMS providers are continuously innovating to develop advanced CMMS solutions to catch up and to adapt their software to this new industry 4.0 technology evolution. Instead of manually collecting data points from several sources separately, the new generation of CMMS will connect many industrial IoT devices like sensors, equipment monitoring software, safety systems, and other digital technologies, then analyze the data and trigger the actions to address the problem.
The combination of CMMS and IoT creates huge opportunities for both IoT manufacturers and CMMS vendors. The combination will make industrial organizations work smoothly, help increase productivity and reduce downtime. That can add many millions of dollars to a company’s bottom line.
Principal Consultant
Post the industrial revolution, energy & utility providers have turned their focus on bulk production, for which they had to manage and organize the thing on an industrial scale. This industrial evolution has also increased the demand for solutions that can proactively monitor the maintenance management of plant machinery.
This is where the CMMS (with AI) can pick up the slack. Several energy and utility providers are discovering all the possible opportunities of predictive and preventative maintenance applications with the emergence of AI and its capabilities of recognizing temperature, vibration, and other factors from sensors pre-built into machinery and vehicles.
Integrating AI in CMMS solutions makes the most of what AI is good at (pattern recognition) and applies it to problems that are large for humans to manage on their own.
The AI-enabled CMMS solutions also enable organizations to predict the life of machinery present in the plant. Also, preventative maintenance involves repairing the machinery to keep it working longer. By using the data gathered from the equipment and AI, the CMMS would automatically make adjustments to the maintenance schedules.
One of the major factors hampering the growth and adoption of CMMS is the lack of a skilled workforce. The energy and utility industry floor has rapidly changed in the past 10 years. Automation and digitization have changed how operators complete their tasks.
Prior to the advent of computers and computer programs, the maintenance data was recorded with a pencil and paper and stored in special journals. But using computers and various computer programs give organizations huge possibilities in organizing their company's work processes and controlling and managing all their business activities, including maintenance management.
Nowadays, CMMS packages can be used by any company or organization that needs to perform maintenance activities of their equipment, assets, or property.
However, there is still a lack of skilled manufacturing workers. This can be especially true with maintenance technicians. For example, it requires a skilled person to define an equipment hierarchy and create the right maintenance tasks.
Some industrial organizations still rely on minimal training and initial preparation. Due to a lack of training and a skilled workforce, each person working in the maintenance staff ends up developing their own approaches to using the software. This leads to a more complicated and disordered database.
The time-saving features for which the organizations have paid will end up unused. Thus, the lack of a skilled workforce is considered to be one of the major challenges in the CMMS market.
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CMMS Application in Oil & Gas Sectors Supporting USA. CMMS Market Growth
Until 2022, the CMMS market in the United States experienced a Y-o-Y growth of over 7.3% to reach USD 360 Million. The market is set to further aggrandize at a CAGR of nearly 9.1% through 2033.
FMI has projected the USA to remain one of the most lucrative markets in North America throughout the course of the forecast period, owing to the presence of prominent CMMS vendors in the region. According to estimates, the adoption of CMMS software in the USA is expected to increase by 2% to 3% from 2021 to 2023, owing to the rise in small and startup manufacturing hubs across the country.
Moreover, the heightened demand, specifically from the oil and gas sector has propelled the growth of the USA CMMS market.
CMMS Application in the Energy Sector Fuelling Demand in the United Kingdom
Technology has been increasingly adopted by all major industry sectors across the Europe region. And industries in the United kingdom is facing its biggest shake-up since deregulation. A shift towards renewable energy sources and a greater reliance on digital technology has transformed every sector.
According to the United Kingdom trade association for the Energy United kingdom in 2020, around 738,000 people are employed in the sector, with around USD14 billion invested every year to deliver power and energy to 28 million homes and businesses. By the year 2021, the United kingdom market is expected to achieve growth at a CAGR of 11.2%.
In terms of market share, the United kingdom owns over 15% share in Europe’s CMMS software market. The growing demand for CMMS products among energy and utility firms is driving the growth of the United kingdom CMMS market.
China Leading Computerized Maintenance Management System (CMMS) Providers and Development Trends
China is the world’s largest manufacturer in terms of output. The Chinese economy thrives as a manufacturing powerhouse and the nation's products seem to be everywhere. The country has become known as "the world's factory" because of its strong business ecosystem. The country is estimated to record an incremental opportunity worth USD 157.4 Million during the forecast period.
The Chinese government continues to invest heavily in identified technologies. The government has planned to increase the country’s R&D expenditures. The government focuses on the early adoption of new technologies and highly subsidizes companies in developing industries, creating major business opportunities for CMMS vendors.
The government is continuously focusing on investing in cloud and related ICT technologies to enhance digital transformation across industries, which in return, would drive the growth of China's CMMS systems market.
| Country | BPS Change (H2'22 (O) - H2'22 (P)) |
|---|---|
| USA | (+)28 |
| United Kingdom | (+)31 |
| Japan | (+)22 |
| India | (+)19 |
| China | (+)23 |
For H2’22(O)-H2’22(P), the USA market witnessed a BPS change of (+)28 units because of the implementation of automation solutions across industries. United kingdom displayed a BPS change of (+)31 units because of the growth in e-commerce causing the need for CMMS solutions in the transportation and logistics vertical.
Japan had a BPS change of (+)22 units because of the growth in the implementation of solutions for meeting its targets of establishing smart factories and industry 4.0 and India witnessed a BPS change of (+)19 units because of the growth in manufacturing over the year. For China, the BPS change for H2’22(O)-H2’22(P) was of (+)23 units because of the development in technologies and their rapid implementation.
Higher Internet Penetration and Technological Innovations Supporting CMMS Uptake in SMEs
The CMMS software was traditionally designed only for large enterprises that needed to automate and organize large, complex maintenance operations. Only the large energy and utility firms were able to leverage the benefits of CMMS software, but eventually things have changed dramatically.
Earlier, many small and mid-sized enterprises were intimidated by maintenance management software for several reasons such as high cost, complexity, difficult to integrate, and among others. But over the time, the features and benefits of these software have been increased, and the cost of CMMS systems has gone down significantly over the years.
Nowadays, all companies, regardless of sizes of organization, can benefit from CMMS software solution today. The advent of the Internet, smartphones, and advances in technology have made CMMS systems more accessible, affordable, and user-friendly than ever before. Many cost-effective, best-of-breed CMMS software programs are available in the market that provide the features to SMEs to run an effective maintenance program.
Moreover, the advent of cloud-based CMMS software gained attention of several small and mid-sized organizations, as it features low-cost and high-flexibility benefits. The organization just need to simply log into the system online and customize it based on their needs by adding or removing modules.
Demand for On-Premise CMMS Solutions Expected to Grow
CMMS helps facility and maintenance managers streamline work orders, inventory management, asset monitoring, preventive maintenance scheduling, and other asset maintenance activities for facility management. The software helps with a range of internal maintenance and optimization tasks to make business more efficient and organized.
The on-premise CMMS solutions are great pieces of software, but often they lack some of the functionality as compared to cloud-based CMMS. The cloud-based CMMS refers to the SaaS application systems that are hosted by third party cloud software providers. It is the most effective way to manage maintenance in a world of ever-evolving technology.
The aforementioned players rely on multiple expansion strategies to deepen penetration across lucrative markets. These strategies include product launches, collaborations with key players, partnerships, acquisitions and strengthening of regional and global distribution networks.
| Attribute | Details |
|---|---|
| Market value in 2022 | USD 1,636.2 Million |
| Market CAGR 2023 to 2033 | 9.1% |
| Share of top 5 players | Around 20% |
| Forecast Period | 2023 to 2033 |
| Historical Data Available for | 2018 to 2022 |
| Market Analysis | USD Million for Value |
| Key Regions Covered | North America; Latin America; Europe; South Asia & Pacific; East Asia and the Middle East & Africa |
| Key Countries Covered | USA, Canada, Germany, United Kingdom, France, Italy, Spain, Russia, China, Japan, South Korea, India, Australia & New Zealand, GCC Countries, Turkey and South Africa |
| Key Segments Covered | Component, Technology, Application, Industry and Region |
| Key Companies Profiled | Zunaso; MicroMain Corp.; Infor; IBM Corporation; Rockwell Automation (Fiix, Inc.); Fluke Corporation; Accruent; Hippo CMMS; Limble CMMS; Mobility Work; UpKeep; ManagerPlus Solutions, LLC (iOFFICE); JDM Technology Group; Siveco Group SA; MaintainX Inc.; Dude Solutions Inc.; eMaint; MPulse Software, Inc.; FasTrak SoftWorks, Inc.; QuickFMS; Cryotos; IFS; DIMO Software; CMMS Data Group; Letosys; SIERRA ODC Private Limited; PiqoTech Software Solutions Pvt. Ltd. |
| Report Coverage | Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
| Customization & Pricing | Available upon Request |
The computerized maintenance management system (CMMS) market CAGR 2033 is 9.1%.
The market is estimated to secure a valuation of USD 1,636.3 million in 2023.
The projected market value of the market for 2033 is USD 4,215.1 million.
Key players are developing the market by introducing new features and capabilities.
IBM, Rockwell Automation, and Fiix are the key companies in this market.
1. Executive Summary | Computerized Maintenance Management System Market 2. Market Overview 3. Key Market Trends 4. Pricing Analysis 5. Global Market Demand (in Value in US$ Million) Analysis 2018 to 2022 and Forecast, 2023 to 2033 6. Market Background 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, by Solution 7.1. CMMS Software 7.1.1. Cloud-based 7.1.2. Web-based 7.1.3. On-Premises 7.2. Services 7.2.1. Consulting Services 7.2.2. Integration & Implementation Services 7.2.3. Support & Maintenance Services 8. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, by Enterprise Size 8.1. Small and Medium Enterprises (SMEs) 8.2. Large Enterprises 9. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, by Industry 9.1. Manufacturing 9.2. Transportation & Logistics 9.3. Retail & CPG 9.4. Education 9.5. Hospitality 9.6. Healthcare 9.7. Energy & Utilities 9.8. Government 9.9. Others 10. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, by Region 10.1. North America 10.2. Latin America 10.3. Europe 10.4. East Asia 10.5. South Asia and Pacific 10.6. Middle East and Africa (MEA) 11. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033 12. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033 13. Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033 14. South Asia and Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033 15. East Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033 16. Middle East and Africa Market Analysis 2018 to 2022 and Forecast 2023 to 2033 17. Emerging Countries Market Analysis 18. Market Structure Analysis 19. Competition Analysis 19.1. Zunaso 19.2. MicroMain Corp. 19.3. Infor 19.4. IBM Corporation 19.5. Rockwell Automation (Fiix, Inc.) 19.6. Fluke Corporation 19.7. Accruent 19.8. Hippo CMMS 19.9. Limble CMMS 19.10. Mobility Work 19.11. UpKeep 19.12. ManagerPlus Solutions, LLC (iOFFICE) 19.13. JDM Technology Group 19.14. Siveco Group SA 19.15. MaintainX Inc. 19.16. Dude Solutions Inc. 19.17. eMaint 19.18. MPulse Software, Inc. 19.19. FasTrak SoftWorks, Inc. 19.20. QuickFMS 19.21. Cryotos 19.22. IFS 19.23. DIMO Software 19.24. CMMS Data Group 19.25. Letosys 19.26. SIERRA ODC Private Limited 19.27. PiqoTech Software Solutions Pvt. Ltd. 20. Assumptions and Acronyms Used 21. Research Methodology
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Computerized Maintenance Management System (CMMS) Market
