Latest News- Computerized Maintenance Management System (CMMS) Market: Onpremise is expected to lead the Deployment segment during 2025-2029

The Computerized Maintenance Management System (CMMS) Market is being driven by Growing focus to prevent downtime with cost-effective solutions

The Computerized Maintenance Management System (CMMS) Market is expected to grow at a CAGR of 9.9% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 961.4 million. In today's business landscape, the adoption of cloud-based Computerized Maintenance Management Systems (CMMS) is on the rise. This trend is primarily driven by the significant cost savings and expedited implementation that cloud solutions offer. By eliminating the need for up-front hardware procurement and installation, organizations can focus on their core competencies. Furthermore, cloud-based CMMS solutions provide numerous business benefits, including process alignment, enhanced system security, reliability, scalability, and remote access to applications for employees, users, and partners. Additionally, cloud solutions eliminate the requirement for a dedicated IT support team for software maintenance and updates, as well as the need for server, storage, and computing resources for global organizations. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on segments_for_ai.nslist

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Growing focus to prevent downtime with cost-effective solutions
• Increasing penetration of digital technologies such as IoT and AI
• Growing focus on improving business efficiency

However, the market also witnesses some limitations, which are as follows:

• Lack of expertise and technical knowledge
• High upfront cost for installation of computerized maintenance management system
• Implementation challenges associated to computerized maintenance management system

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Market Scope in Computerized Maintenance Management System (CMMS) Market Research Report

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Research Analysis Overview

The Computerized Maintenance Management System (CMMS) market focuses on enhancing equipment reliability through asset tracking, proactive maintenance, digital twin technology, maintenance analytics, and industrial data analytics. It also includes solutions for industrial automation, factory automation, maintenance strategy, maintenance software, operational efficiency, remote monitoring, maintenance outsourcing, maintenance optimization, connected factories, smart manufacturing, condition monitoring, asset performance management, predictive maintenance, downtime reduction, maintenance training, machinery life extension, maintenance cost reduction, human error elimination, Artificial Intelligence (AI), maintenance consulting, maintenance analytics dashboard, resource optimization, condition-based maintenance, equipment maintenance, maintenance reporting tools, predictive maintenance software, maintenance certification, asset efficiency, maintenance risk management, maintenance planning, maintenance budget optimization, maintenance compliance, maintenance workforce optimization, and maintenance audit.

Market Research Overview

The Computerized Maintenance Management System (CMMS) market is a segment of the larger global IT application software industry. This market caters to businesses in various sectors, including energy and utilities, manufacturing, and others, by providing software solutions for predictive maintenance, workforce management, and inventory control. Technavio's market analysis covers companies specializing in CMMS, including those offering IoT-enabled solutions, predictive analytics, and those catering to skilled manufacturing workers in industrial settings. The market size is determined by the combined revenue of these companies, encompassing both on-premises and cloud-based offerings, excluding those focused on interactive home entertainment or database management software.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

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