DUBLIN--(BUSINESS WIRE)--The "Enterprise Asset Management Market by Component, by Deployment Type, by Enterprise Size, by Industry, by Geography Global Market Size, Share, Development, Growth and Demand Forecast, 2014-2024" report has been added to ResearchAndMarkets.com's offering.
The enterprise asset management (EAM) market is projected to generate a revenue of $8.7 billion by 2024, advancing at a CAGR of 13.5% during the forecast period (2019-2024)
Across the globe, the major factors responsible for the growth of the market are increasing demand for effective utilization of assets, improved return on assets, and controlling procurement and management expenses.
On the basis of component, the enterprise asset management market is classified into service, software, and solution. The software category is further divided into linear assets, non-linear assets, field service management (FSM), and asset maintenance, repair, and operations (MRO). Among these, in 2018, the linear assets division dominated the market with the largest revenue share. This can be ascribed to the increasing requirement for controlled management of large railway line, power line, oil and gas pipeline, road, and drainage and facility networks.
Based on deployment type, the enterprise asset management market is fragmented into cloud-based and on-premises deployment. Of these, the market for cloud-based deployment is expected to record faster growth during the 2019-2024 period. In an enterprise, cloud-based EAM facilitates users to access personal data anytime from anywhere. Due to no upfront hardware cost associated with cloud deployment, small and medium enterprises are preferring this solution, as they are eager to enter the market quickly with less investments.
Now, based on enterprise size, the enterprise asset management market is categorized into small and medium enterprises (SME), and large enterprises. The SMEs category is predicted to record the faster growth during the 2019-2024 period, as these are rapidly deploying EAM software to maintain their assets and improve their operational efficiency. Further, to meet the need for domain-specific technical personnel, SMEs are inclining toward EAM software.
To calculate productivity and efficiency, an organization uses the asset turnover ratio. The deployment of EAM for asset utilization management consists of asset inventory tracking, invoice payment trends checking, maintenance agreement management, and invoice and funding information examination. Via these processes, the EAM software creates a set of reports, which helps decision makers compare expected billing and invoice amounts, see each asset or group of assets, and inspect unusual activity to minimize fraud and waste. Therefore, with the increasing demand for effective utilization of assets from enterprises, the EAM market is witnessing growth on a global ground.
The primary aim of an organization is increasing its profits by minimizing the procurement and maintenance costs generated during the manufacturing process. EAM can cut the maintenance costs by keeping a check on operations and giving correct information on capital investment decisions. The surging need of organizations to reduce their procurement and maintenance costs is augmenting the demand for EAM, worldwide.
Key Topics Covered:
Chapter 1. Research Background
1.1 Research Objectives
1.2 Market Definition
1.3 Research Scope
1.4 Key Stakeholders
Chapter 2. Research Methodology
2.1 Secondary Research
2.2 Primary Research
2.3 Market Size Estimation
2.4 Data Triangulation
2.5 Assumptions for the Study
Chapter 3. Executive Summary
Chapter 4. Introduction
4.1 Definition of Market Segments
4.1.1 By Component
184.108.40.206.1 Linear assets
220.127.116.11.2 Non-linear assets
18.104.22.168.3 Field service management (FSM)
22.214.171.124.4 Assets maintenance, repair, and operations (MRO)
126.96.36.199.1 Planning and forecasting
188.8.131.52.2 Procurement of material
184.108.40.206.3 Logistics and inventory
220.127.116.11.4 Network field operations
18.104.22.168.5 Assets transfer and retirement
4.1.2 By Deployment Type
4.1.3 By Industry
22.214.171.124 Oil and Gas
126.96.36.199 Transportation and Logistics
188.8.131.52 Energy and Utilities
4.1.4 By Enterprise Size
184.108.40.206 Large Enterprises
4.2 Value Chain Analysis
4.2.1 EAM Software Designers and Integrators
4.2.2 Software Integrators
4.2.3 Service Providers
4.3 Market Dynamics
220.127.116.11 Integration of IoT and mobility with EAM
18.104.22.168 Inclination toward cloud-based EAM
22.214.171.124 Reduced maintenance and procurement expenses
126.96.36.199 Increasing adoption of EAM for effective utilization of assets
188.8.131.52 Improved return on assets (ROA)
184.108.40.206 Impact analysis of drivers on market forecast
220.127.116.11 High implementation cost for SMEs
18.104.22.168 Impact analysis of restraints on market forecast
22.214.171.124 Integration of AI and Drones with EAM
4.4 Porter's Five Forces Analysis
Chapter 5. Global Market Size and Forecast
5.1 By Component
5.1.1 Software, by Type
5.1.2 Services, by Type
5.1.3 Solutions, by Type
5.2 By Deployment Type
5.3 By Industry
5.4 By Enterprise Size
5.5 By Region
Chapter 6. North America Market Size and Forecast
Chapter 7. Europe Market Size and Forecast
Chapter 8. APAC Market Size and Forecast
Chapter 9. South America Market Size and Forecast
Chapter 10. MEA Market Size and Forecast
Chapter 11. Competitive Landscape
11.1 Market Share Analysis of Key Players
11.2 List of Key Players
11.3 Recent Activities of Major Players
11.4 Global Strategic Developments of Key Players
11.4.1 Mergers and Acquisitions
11.4.2 Product Launches
Chapter 12. Company Profiles
- Schneider Electric SE
- Oracle Corporation
- International Business Machines (IBM) Corporation
- SAP SE
- ABB Ltd.
- Industrial and Financial Systems (IFS) AB
- MRI Software LLC
- CGI Group Inc.
- Infor Inc.
- Ramco Systems Limited
- Rockwell Automation Inc.
- Bentley Systems Incorporated
- AssetWorks LLC
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