Enterprise Asset Management Market

Global Enterprise Asset Management Market Outlook for 2024 to 2034

The global enterprise asset management market value is estimated to be USD 4,717.07 million in 2024. The overall market is predicted to grow at a moderate CAGR of 7% during the forecast period. The global enterprise asset management industry share is estimated to reach a value of nearly USD 9,279.09 million by 2034.

Report Attribute	Details
Enterprise Asset Management Market Size (2024)	USD 4,717.07 million
Market Anticipated Forecast Value (2034)	USD 9,279.09 million
Market Projected Growth Rate (2024 to 2034)	7% CAGR

Enterprise Asset Management Market Trends & Analysis

• The growing deployment of the Internet of Things in industries has improved the tracking mechanism for enterprise assets. Integration of IoT technology with EAM solutions also provides the identification of performance and control modifications, resulting in a better market outlook in recent years.
• Growth of Artificial Intelligence (AI) and drone-based enterprise solutions is an emerging trend driving the enterprise asset management software solutions market. AI helps improve data handling to make better decisions through asset intelligence services.

Global Enterprise Asset Management Market Historical Analysis Vs Forecast Outlook

The global enterprise asset management market was valued at USD 3,809.31 million in 2019. From 2019 to 2023, the global enterprise asset management (EAM) market experienced a CAGR of around 4.1%. The overall market value was about USD 4,466.25 million by 2023.

The COVID-19 pandemic posed many problems for the global economy and a variety of economic sectors, including in the enterprise asset tracking market during 2020 and 2021. However, equipment management market participants utilized this crisis period as a chance to restructure and reassess their present strategies and sophisticated product portfolio.

Attributes	Details
Enterprise Asset Management Market Value (2019)	USD 3,809.31 million
Market Revenue (2023)	USD 4,466.25 million
Market Historical Growth Rate (CAGR 2019 to 2023)	4.1% CAGR

Prominent Factors Fuelling the Global Enterprise Asset Management Market Growth

Integration of IoT with EAM software is expected to play an important role in developing smart cities. Smart cities monitor the conditions of all critical infrastructure. Increased data analysis accuracy, decision-making improvements, and asset management software outcomes are among the major factors driving the growth of enterprise asset management demand across many economies.

To protect employees well enough and ensure efficiency and productivity, many businesses across sectors have chosen the work-from-home model, resulting in a surge in demand for cloud-based solutions. The need for EAM solutions will continue to rise as more businesses invest in their IT infrastructure instead of investing more in physical infrastructure.

Country-wise Insights

The table below lists countries anticipated to create better growth opportunities for enterprise asset management solution providers over the next ten years.

Regional Market Comparison	CAGR (2024 to 2034)
United States	3.9%
Japan	8.2%
Germany	6.5%
Australia	10.5%
China	7.5%

Evolution of EAM Preventive Maintenance Systems to Drive the United States Market

The United States regional market is expected to witness a year-on-year growth rate of 3.9% from 2024 to 2034.

• The presence of a well-developed information technology infrastructure is favoring further research and development of the industry participants.
• Increasing implementation of cloud-based solutions and growing quantity of data is expected to be a major driver pushing the adoption of EAM integration among large enterprises in the United States.

Germany Enterprise Asset Management Solution Providers are focusing on Research and Development

The enterprise asset management industry in Germany is expected to expand at a rate of 6.5% per year till 2034.

• More attention from enterprises on following regulatory and compliance standards is contributing to the growth of the market in Europe, including Germany.
• Strong investments, rigorous research and development activities, and an increase in the penetration of EAM preventive maintenance systems have been boosting the deployment rate in Germany.

Implementation of EAM Integration Driving Innovation across Industries in China

China holds attractive growth potential for the enterprise asset performance management market, with an estimated CAGR of 7.5% between 2024 and 2034.

• The manufacturing sector of China, with high productivity and a significant focus on resource utilization, condition monitoring, and effective supply chain management (SCM), is driving the regional market growth.
• Large enterprises are leveraging innovative technology to gain a competitive advantage in providing commercial operations that can properly predict the future of physical assets.

Growing Demand for Asset Lifecycle Management Fueling Market Expansion in Japan

The adoption of enterprise asset management in Japan is poised to increase at a rate of 8.2% CAGR between 2024 and 2034.

• The presence of big EAM firms, as well as several developing start-ups in the region, are mainly responsible for the considerable market share of the East Asia region.
• Asset lifecycle management (ALM) is expected to produce significant income in South Asian countries, influencing the China market to expand over the coming years.

Expansion of IT industries is Fueling Enterprise Asset Management Sector in Australia

Demand for enterprise asset management solutions is anticipated to rise at the most lucrative rate of 10.5% between

• Australia is witnessing technological advancements in the field of IT, manufacturing, industrial sectors, and others – creating lucrative opportunities for the enterprise asset management solution providers in the country.
• Demand for cloud services for business applications, such as partnerships and other efficiency and process improvement tools, has risen as a result of this.

Category-wise Insights

Hybrid Cloud Resilience to Drive Revenue through On-premise EAM Deployment

Based on solution type, the enterprise asset management market contributes more than half of the global demand. In 2024, this segment is figured out to contribute almost 54% of the revenue share.

Attributes	Details
Top Solution Type or Segment	Enterprise Asset Management
Market Share in 2024	54%

• Service-based companies that require control over the protection of consumer and company data prefer the on-premises version of EAM.
• Companies' personal data security issues are a primary factor for on-premises deployments being preferred over cloud deployments.

Large Enterprises Create more Demand for Asset Management Solutions

Based on enterprise size, large enterprises with 500 to 999 employees create the most demand for the asset lifecycle management market. This segment is expected to account for 35.41% of the market revenue in 2024.

Attributes	Details
Top Enterprise Size or Segment	Large Enterprises (500 to 999 Employees)
Market Share in 2024	35.41%

• The growing demand for employees, inventories, and asset management solutions from a significant number of emerging factories.
• Owing to the robust adoption and penetration, large enterprises are expected to create potential business opportunities for asset reliability management market players.

High Degree of Digitization Initiatives Promoting EAM deployment in IT & Telecom Sector

The information technology (IT) & telecom companies are the leading users of EAM systems. This segment is expected to contribute 21.6% of the revenue share generated by the market in 2024.

Attributes	Details
Top End User Industry Type or Segment	IT & Telecom
Market Share in 2024	21.6%

• Digitization of service-based enterprises and advances in technology like smart objects, SaaS-based applications, and others have resulted in considerable growth in this sector.
• Maintenance has become a critical aspect of modern industries, and many organizations have started to move beyond standard run-to-failure and condition monitoring approaches.

Competitive Landscape for Enterprise Asset Management Market

Key Enterprise asset management (EAM) software developers are investing their efforts in surpassing traditional asset management, as companies are now seeking additional benefits from EAM solutions. In addition to providing access to organizational asset information to every department and employee at every location, the latest industry trend includes EAM software solutions that also involve energy usage, lifecycle costs, maintenance histories, warranty catalogs, purchase orders, audit records, and others.

Recent Developments in the Global Enterprise Asset Management Market

• In February 2021, SAP declared that it had acquired AppGyver, a pioneer in no-code development. SAP is enough capable to assist clients and partners in swiftly modifying their IT solutions to their individual demands and optimizing the accessibility of their applications as a result of the merger.
• In March 2023, OpenGov released its newest software suite, Cartegraph Asset Management. It has implemented potent new product features and connectors throughout its suites.

Key Players Profiled in the Enterprise Asset Management Market Report

• 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.
• Bentley Systems Incorporated

Key Coverage in the Enterprise Asset Management Market Report

• Adjacent study on the Asset Maintenance Management Market
• Enterprise Asset Management Demand Analysis
• Challenges in Enterprise Asset Management Implementation
• Regulations for Enterprise Asset Management Certification

Enterprise Asset Management Market Report Scope

Attribute	Details
Estimated Market Size (2024)	USD 4,717.07 million
Projected Market Size (2034)	USD 9,279.09 million
Anticipated Growth Rate (2024 to 2034)	7%
Forecast Period	2024 to 2034
Historical Data Available for	2019 to 2023
Market Analysis	USD million or billion for Value and Units for Volume
Key Regions Covered	North America, Latin America, Europe, Middle East & Africa (MEA), East Asia, South Asia and Oceania
Key Countries Covered	United States, Canada, Brazil, Mexico, Germany, Spain, Italy, France, United Kingdom, Russia, China, India, Australia & New Zealand, GCC Countries, and South Africa
Key Segments Covered	By Solution Type, By Service Type, By Enterprise Size, By End Use Industry, and By Region
Key Companies Profiled	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.;Bentley Systems Incorporated
Report Coverage	Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives
Customization & Pricing	Available upon Request

Table of Content

• 1. Executive Summary
• 2. Market Overview
• 3. Market Background
• 4. Global Market Analysis 2019 to 2023 and Forecast, 2024 to 2034
• 5. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Deployment
  • 5.1. On-Premise
  • 5.2. Cloud Based
• 6. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Industry
  • 6.1. Government
  • 6.2. Healthcare
  • 6.3. Manufacturing
  • 6.4. Transportation & Logistics
  • 6.5. Oil & Gas
  • 6.6. Banking & Finance
  • 6.7. Retail
  • 6.8. Others
• 7. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Region
  • 7.1. North America
  • 7.2. Latin America
  • 7.3. Western Europe
  • 7.4. Eastern Europe
  • 7.5. South Asia and Pacific
  • 7.6. East Asia
  • 7.7. Middle East and Africa
• 8. North America Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country
• 9. Latin America Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country
• 10. Western Europe Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country
• 11. Eastern Europe Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country
• 12. South Asia and Pacific Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country
• 13. East Asia Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country
• 14. Middle East and Africa Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country
• 15. Key Countries Market Analysis
• 16. Market Structure Analysis
• 17. Competition Analysis
  • 17.1. Oracle Corporation
  • 17.2. SAP SE
  • 17.3. Schneider Electric SE
  • 17.4. ABB Ltd.
  • 17.5. MRI Software LLC
  • 17.6. CGI Inc.
  • 17.7. Industrial and Financial Services (IFS) AB
  • 17.8. Infor Inc.
  • 17.9. Ramco Systems Limited
  • 17.10. Rockwell Automation Inc.
  • 17.11. Bentley Systems Incorporated
• 18. Assumptions & Acronyms Used
• 19. Research Methodology