Global Enterprise Asset Management Market to 2024: Extending the Asset Lifecycle With the Help of Advanced Technologies

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Aug 22, 2019, 15:15 ET

DUBLIN, Aug. 22, 2019 /PRNewswire/ -- The "Enterprise Asset Management Market by Component (Solutions, Services), Organization Size, Deployment Mode, Industry Vertical (Energy & Utilities, Government & Defense, Manufacturing, Transportation and Logistics), & Region - Global Forecast to 2024" report has been added to ResearchAndMarkets.com's offering.

The Global Enterprise Asset Management Market Size is Expected to Grow from USD 5.1 Billion in 2019 to USD 8.2 Billion by 2024, at a CAGR of 10.0%.

The growth of the market can be attributed to the increasing demand for cloud-based EAM solutions and gaining a 360-degree view of assets. However, security concerns related to data security can hinder the growth of the market.

Enterprise Asset Management (EAM) is a business solution to manage the assets of an organization across different departments, facilities, business units, and geographic locations. Moreover, organizations can have a view of their infrastructure throughout their entire lifecycle, from design, commission, or procurement, through to operation, maintenance, disposal, and replacement with the implementation of EAM solutions.

Most of the vendors in the market offer EAM software, which is robust and comprehensive that encompasses the agility and flexibility necessary to offer global organizations the tools they need to manage their business operations, control costs better, and increase the overall productivity.

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights
4.1 Attractive Market Opportunities in the Enterprise Asset Management Market
4.2 Market in North America, By Vertical and Country
4.3 Market Major Countries

5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Growing Demand for Cloud-Based EAM Solutions
5.2.1.2 Gaining a 360 Degree View of Assets
5.2.2 Restraints
5.2.2.1 Concerns of Organizations Related to Data Security and Confidentiality
5.2.3 Opportunities
5.2.3.1 Extending the Asset Lifecycle With the Help of Advanced Technologies
5.2.3.2 Need for Digital Asset Management Strategy
5.2.4 Challenges
5.2.4.1 Selecting the Right Solution That Aligns With the Organization's Business Needs
5.2.4.2 Integration of EAM With Third-Party Erp Systems
5.3 Industry Trends
5.3.1 Use Case 1: Cern
5.3.2 Use Case 2: Universal Forest Products
5.3.3 Use Case 3: Pratt & Whitney

6 Enterprise Asset Management Market By Component
6.1 Introduction
6.2 Solutions
6.2.1 Asset Lifecycle Management
6.2.1.1 Growing Demand to Streamline Business Processes and Reduced Maintenance Cost Fuel the Demand for Enterprise Asset Management Solutions in the Market
6.2.2 Inventory Management
6.2.2.1 Inventory Management Balances the Risks of Inventory Surfeits and Shortages Across the Different Verticals
6.2.3 Work Order Management
6.2.3.1 Rise in Demand for Organizations to Efficiently Manage Work Orders and Improve Workforce Productivity is Expected to Drive the Growth of Work Order Management Solutions in the Market
6.2.4 Labor Management
6.2.4.1 Growing Need to Manage and Increase Labor Productivity is Increasing the Adoption of Labor-Management Solutions in the Market
6.2.5 Predictive Maintenance
6.2.5.1 Growing Demand for Monitoring and Predicting System Failures in Real-Time is Paving the Way for Predictive Maintenance Solutions in the Market
6.2.6 Facility Management
6.2.6.1 Growing Demand to Transform Data Into Manageable Insights Fuel the Demand for Facility Management Solutions in the Market
6.2.7 Reporting and Analytics
6.2.7.1 Need to Improve Operations With Real-Time Analysis of the Huge Amount of Data is Expected to Drive the Demand for Reporting and Analytics Solutions
6.3 Services
6.3.1 Professional Services
6.3.1.1 Growing Focus of Organizations to Effectively Deploy Enterprise Asset Management Solutions and Streamline Their Entire Service Lifecycle is Fuelling the Adoption of Professional Services
6.3.2 Managed Services
6.3.2.1 Increasing Need to Reduce Data Breaches and Protect Intellectual Property is Fueling the Demand for Managed Services in the Market

7 Enterprise Asset Management Market By Deployment Mode
7.1 Introduction
7.2 On-Premises
7.2.1 Security Concerns Among Large Enterprises to Drive the Adoption of On-Premises Enterprise Asset Management Solution
7.3 Cloud
7.3.1 Scalability and Cost-Effectiveness of Cloud-Based Enterprise Asset Management Solution to Drive Their Adoption During the Forecast Period

8 Enterprise Asset Management Market By Organization Size
8.1 Introduction
8.2 Large Enterprises
8.2.1 Growing Focus of Large Enterprise to Efficiently Manage a Large Amount of Critical Assets to Drive the Adoption of Enterprise Asset Management Solution Among Large Enterprises
8.3 Small and Medium-Sized Enterprises (SMEs)
8.3.1 Need for Cost-Effective Solutions to Drive the Demand for Enterprise Asset Management Solutions Among Small and Medium-Sized Enterprises

9 Enterprise Asset Management Market By Vertical
9.1 Introduction
9.2 Energy and Utilities
9.2.1 Focus of Organizations to Take Proactive Measures Against Outages and Reduce Risks in Managing Critical Operations Projected to Drive the Adoption of Enterprise Asset Management Solutions in Energy and Utilities Vertical
9.3 Manufacturing
9.3.1 Rising Need to Streamline Product Manufacturing and Delivery Process is Expected to Drive the Growth of Enterprise Asset Management Solution in Manufacturing Vertical
9.4 Healthcare and Life Sciences
9.4.1 Need to Automate and Improve Complex Healthcare Service Operations Expected to Drive the Demand for Enterprise Asset Management Solutions in Healthcare and Life Sciences Vertical
9.5 Transportation and Logistics
9.5.1 Rising Need to Minimize Cost of Transportation Assets is Expected to Fuel the Demand for Enterprise Asset Management Solutions During the Forecast Period
9.6 IT and Telecom
9.6.1 Demand for Highly Connected Environment to Efficiently Manage Various Assets is Expected to Drive Need for Enterprise Asset Management Solutions in IT and Telecom Vertical
9.7 Government and Defense
9.7.1 Need for Highly Reliable Assets to Handle Crucial Projects is Expected to Drive the Demand for Enterprise Asset Management Solutions in Government and Defense Vertical
9.8 Others

10 Enterprise Asset Management Market By Region

Companies Mentioned

ABB
Aptean
AssetWorks
AVEVA
CGI
eMaint
IBM
IFS
Industrial and Financial Systems AB (IFS)
Infor
Intelligent Process Solutions (IPS)
Maintenance Connection
Oracle
RFgen Software
SAP
Ultimo Software Solutions
UpKeep

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