Latest News- Enterprise Asset Management (EAM) Market: On-premises is expected to lead the Deployment segment during 2025-2029

The Enterprise Asset Management (EAM) Market is being driven by Growing number of partnerships and acquisitions

The Enterprise Asset Management (EAM) Market is expected to grow at a CAGR of 8.1% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 2458.6 million. In today's business landscape, the shift towards cloud-based services is driving the adoption of cloud-based Enterprise Asset Management (EAM) solutions. With the escalating volume of enterprise data and rising storage costs, cloud deployments offer enterprises direct access to resources without the need for upfront investments in hardware infrastructure. The benefits of cloud computing, including scalability, reliability, and high resource availability, are compelling reasons for enterprises to adopt cloud architecture for their EAM needs. Cloud-based EAM managed services come equipped with integrated debugging and high-performance monitoring tools, thereby reducing additional expenses associated with asset management. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Deployment
  • On-premises
  • Cloud-based
• Sector
  • Large enterprises
  • SMEs
• Service
  • Asset MRO
  • Linear assets
  • Field service management
  • Non-linear assets
• End-user
  • Energy and utilities
  • Manufacturing
  • IT and telecom
  • Healthcare
  • Others
• Geography
  • North America
    • Canada
    • US
  • Europe
    • Germany
    • UK
    • France
    • Italy
    • Spain
  • APAC
    • China
    • India
    • Japan
  • Middle East and Africa
  • South America

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

• Growing number of partnerships and acquisitions
• Compliance of regulations
• Increasing demand for a 360-degree view of assets

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

• Implementation issues associated with enterprise asset management
• Threat to data security and privacy
• High cost of integration of enterprise asset management

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Market Scope in Enterprise Asset Management (EAM) Market Research Report

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Research Analysis Overview

In the realm of Enterprise Asset Management (EAM), key elements include Workforce Management for efficient utilization, Resource Optimization for effective use, Risk Management for mitigation, Compliance Management for adherence, Sustainability Reporting for transparency. Data Visualization, Business Intelligence, Digital Twin, Augmented Reality, and Virtual Reality enhance understanding. Blockchain Technology ensures security, Digital Transformation drives innovation, Process Automation saves time, Data Analytics and Predictive Analytics forecast needs, Prescriptive Analytics offers solutions, Service Level Agreements guarantee performance, Root Cause Analysis identifies issues, Condition-Based Maintenance (CBM) prevents downtime, Smart Factories optimize production, and Digital Thread maintains continuity.

Market Research Overview

The Enterprise Asset Management (EAM) market is a segment of the global application software industry, focusing on Asset Lifecycle Management, Asset Tracking, Asset Optimization, Asset Performance Management, and Asset Data Management solutions. These systems enable businesses to effectively manage and maintain their physical assets, improving operational efficiency and reducing costs. Technavio's market analysis calculates the size of the EAM market based on the combined revenue of companies providing specialized software solutions for this purpose. This market excludes those engaged in interactive home entertainment, systems software, or database management software production.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
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Website: www.technavio.com/