Dublin, Nov. 04, 2019 (GLOBE NEWSWIRE) -- 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 $5.1 billion in 2019 to $8.2 billion by 2024, at a CAGR of 10%.

Major vendors offering enterprise asset management solutions and services across the globe include-IBM (US), Oracle (US), IFS (Sweden), SAP (Germany), Infor (US), ABB (Switzerland), Aptean (US), CGI (Canada), IPS (Germany), Maintenance Connection (US), AVEVA (UK), AssetWorks (US), RFgen (US), eMaint (US), UpKeep (US), and Ultimo Software Solutions (UK).

The study includes an in-depth competitive analysis of these key players in the EAM market, with their company profiles, recent developments, and key market strategies.

Growing demand for cloud-based enterprise asset management (EAM) solutions and gaining a 360-degree view of assets are expected to drive the growth of the enterprise asset management market

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.

The transportation and logistics segment is projected to grow at the highest CAGR during the forecast period

Enterprise asset management solutions help businesses operating in the transportation and logistics industry minimize the costs of managing and maintaining transportation assets such as bridges, roads, tunnels, and rails. Furthermore, geotechnical monitoring of transportation assets allows organizations to perform maintenance operations whenever and wherever required.

The professional services segment expected to account for a larger share during the forecast period as compared to the managed services segment

Professional services are services offered through professionals, specialists, or experts, to support the business. These services include planning and consulting training and education, and support and maintenance. The growing focus of organizations to effectively deploy EAM solutions and streamline their entire service lifecycle is fueling the adoption of professional services.

APAC expected to grow at the highest rate during the forecast period

The EAM market in APAC is expected to grow at the highest CAGR during the forecast period, due to the penetration of several companies such as Oracle, IBM, and Infor in the region. Additionally, many emerging economies in the APAC region are likely to adopt EAM solutions because of their high demands, specifically in the oil and gas, transportation and logistics, healthcare, and energy and utility industries.

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 & 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
10.1 Introduction
10.2 North America
10.2.1 United States
10.2.1.1 Early Adoption of Technologies and High Focus on Innovations to Boost Market Growth in the United States
10.2.2 Canada
10.2.2.1 Adoption of Enterprise Asset Management Solutions Across Verticals to Drive the Market Growth in Canada
10.3 Europe
10.3.1 United Kingdom
10.3.1.1 Rise in Demand for Enterprise Asset Management Solutions to Maximize RoA to Drive the Growth of the Market in the United Kingdom
10.3.2 Germany
10.3.2.1 Government Focuses on Innovation and Research to Drive the Enterprise Asset Management Market in Germany
10.3.3 Rest of Europe
10.4 Asia Pacific
10.4.1 China
10.4.1.1 High Investment in Advanced Technologies Solutions to Drive the Market in China
10.4.2 Australia and New Zealand
10.4.2.1 Increasing Adoption of Technologies in Various Industries Boost the Demand for Enterprise Asset Management in Australia and New Zealand
10.4.3 Rest of Asia Pacific
10.5 Middle East and Africa (MEA)
10.5.1 UAE
10.5.1.1 Digitalization in Various Industries Boosts the Adoption of Enterprise Asset Management in the UAE
10.5.2 South Africa
10.5.2.1 Increasing Demand for Enterprise Asset Management Solutions to Enhance the Customer Experience is Driving the Growth in South Africa
10.5.3 Rest of Middle East and Africa
10.6 Latin America
10.6.1 Brazil
10.6.1.1 Rise in Number of Asset-Intensive Companies to Drive the Growth of the EAM Market in Brazil
10.6.2 Mexico
10.6.2.1 Increasing Awareness of Enterprise Asset Management Solution to Drive the EAM Market in Mexico
10.6.3 Rest of Latin America

11 Competitive Landscape
11.1 Competitive Scenario
11.1.1 New Product Launches
11.1.2 Business Expansions
11.1.3 Mergers & Acquisitions
11.1.4 Partnerships, Agreements, and Collaborations
11.2 Competitive Leadership Mapping
11.2.1 Visionary Leaders
11.2.2 Innovators
11.2.3 Dynamic Differentiators
11.2.4 Emerging Companies

12 Company Profiles
12.1 Introduction
Business Overview, Products, Solutions & Services, Key Insights, Recent Developments, SWOT Analysis
12.2 Oracle
12.3 IFS
12.4 Infor
12.5 IBM
12.6 SAP
12.7 ABB
12.8 Intelligent Process Solutions (IPS)
12.9 Maintenance Connection
12.10 AVEVA
12.11 Aptean
12.12 eMaint
12.13 CGI
12.14 UpKeep
12.15 RFgen Software
12.16 AssetWorks
12.17 Ultimo Software Solutions

For more information about this report visit https://www.researchandmarkets.com/r/8k57f1

Research and Markets also offers Custom Research services providing focused, comprehensive and tailored research.

CONTACT: ResearchAndMarkets.com
         Laura Wood, Senior Press Manager
         press@researchandmarkets.com
         For E.S.T Office Hours Call 1-917-300-0470
         For U.S./CAN Toll Free Call 1-800-526-8630
         For GMT Office Hours Call +353-1-416-8900

Legal Disclaimer:

EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.