Exploring Enterprise Asset Management Market Opportunity, Latest Trends, Demand, and Development By 2030- MarkNtel Advisors

 According to Markntel Advisors Report, Enterprise Asset Management Market is expected to grow at a significant growth rate, and the analysis period is 2024-2030, considering the base year as 2023. Consistent monitoring and evaluating of market dynamics to stay informed and adapt your strategies accordingly. As a market research and consulting firm, we offer market research reports that focus on major parameters including Target Market Identification, Customer Needs and Preferences, Thorough Competitor Analysis, Market Size & Market Analysis, and other major factors. At the end, we do provide meaningful insights and actionable recommendations that inform decision-making and strategy development.

Enterprise asset management incorporates solutions & services for optimizing production workflow and managing the physical assets of the organization. These services comprise of improved asset performance, reduced downtime, and enhanced overall operational effectiveness.

 

Global Enterprise Asset Management Market Research Report & Summary:

The Global Enterprise Asset Management Market size was valued at USD 4.4 billion in 2023 and is estimated to grow at a CAGR of around 10.8% during the forecast period, i.e., 2024-30.         

Time Period Captured in the Report:

·         Historical Years: 2019-22

·         Base Years: 2023

·         Forecast Years: 2024-2030

Who are the Key Players Operating in the Enterprise Asset Management Market?

The top companies of the Enterprise Asset Management Market ruling the industry are: 

IBM, SAP, Oracle, Hexagon, IFS, Hitachi Energy, IPS Intelligent Process Solutions, Accruent, Aveva, Aptean, Emaint, CGI, Upkeep, Assetworks, Ramco Systems, and Others

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Enterprise Asset Management Industry Recent Development:

·         2023: AJ Foyt Racing, an American racing team, has recently revealed a long-term collaboration with IFS. This partnership aims to leverage the asset management solution provided by IFS Ultimo for effective parts management, lifting, and maintenance purposes.

The Enterprise Asset Management Market explores the industry by emphasizing the growth parameters and categorizes including geographical segmentation, to offer a comprehensive understanding of the market dynamic.  The further bifurcations are as follows:

-By Offering

-Solutions- Market Size & Forecast 2019-2030, (USD Million)

-Services- Market Size & Forecast 2019-2030, (USD Million)

-Professional services- Market Size & Forecast 2019-2030, (USD Million)

-Planning & Consulting- Market Size & Forecast 2019-2030, (USD Million)

-Training & Education- Market Size & Forecast 2019-2030, (USD Million)

-Support & Maintenance- Market Size & Forecast 2019-2030, (USD Million)

-Managed Services- Market Size & Forecast 2019-2030, (USD Million)

-By Application

-Asset Lifecycle Management- Market Size & Forecast 2019-2030, (USD Million)

-Inventory Management- Market Size & Forecast 2019-2030, (USD Million)

-Work order Management- Market Size & Forecast 2019-2030, (USD Million)

-Labour Management- Market Size & Forecast 2019-2030, (USD Million)

-Facility Management- Market Size & Forecast 2019-2030, (USD Million)

-Others- Market Size & Forecast 2019-2030, (USD Million)

-By Deployment Model

-Cloud- Market Size & Forecast 2019-2030, (USD Million)

-On-premises- Market Size & Forecast 2019-2030, (USD Million)

-By Organization Size

-Large Enterprises- Market Size & Forecast 2019-2030, (USD Million)

-SMEs- Market Size & Forecast 2019-2030, (USD Million)

-By End User

-Manufacturing- Market Size & Forecast 2019-2030, (USD Million)

-Energy & Utilities- Market Size & Forecast 2019-2030, (USD Million)

-Healthcare & Life Sciences- Market Size & Forecast 2019-2030, (USD Million)

-Transportation & Logistics- Market Size & Forecast 2019-2030, (USD Million)

-Telecom- Market Size & Forecast 2019-2030, (USD Million)

-Government & Public Sector- Market Size & Forecast 2019-2030, (USD Million)

-Education- Market Size & Forecast 2019-2030, (USD Million)

-Others- Market Size & Forecast 2019-2030, (USD Million)

-By Region

-North America

-South America

-Europe

-The Middle East & Africa

-Asia-Pacific

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Market Dynamics -Global Enterprise Asset Management Market:

Rising Adoption of Cutting-Edge Technologies & Connected Devices – Internet penetration & smartphone accessibility have increased significantly during historical years. As per the statistics provided by the Data Reportal, in 2023, there were approximately 5.16 billion internet users across the globe, which is approximately 64.4% of the total world population. Similarly, smartphone accessibility across the globe has also increased. This proliferation of smart devices is creating a conducive environment for digital platforms & services.  As a result, several organizations globally have shifted towards digital platforms & started offering their services via digital means. According to the BigCommerce Company, as of 2023, around 20% to 30% of organizations have moved to online platforms & around 60% of enterprises are planning to increase their online presence. Therefore, organizations are increasingly utilizing technology-based solutions to boost their online performance.

Additionally, these companies are adopting sensor technologies, data analytics, and Artificial Intelligence (AI) since these emerging technologies enable the organization to make well-informed decisions. Thus, to improve customer engagement, simplify business operations, and optimize overall operational efficiency, organizations are increasingly using technology-based asset management solutions, driving the Global Enterprise Asset Management Market.

Furthermore, industries across the globe are undergoing Industrial Revolution 4.0, owing to which the manufacturing units require solutions that help in real-time monitoring. Thus, these industries would shift towards Internet of Things (IoT) based enterprise asset management solutions to minimize downtime, consequently enlarging market size in the forecast period.

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MarkNtel Advisors is a leading consulting, data analytics, and market research firm that provides an extensive range of strategic reports on diverse industry verticals. We being a qualitative & quantitative research company, strive to deliver data to a substantial & varied client base, including multinational corporations, financial institutions, governments, and individuals, among others.

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