Enterprise Asset Management Market top Key Players, Latest Trends, Regional Insights and Global Industry Dynamics By 2028

Enterprise Asset Management Market is predicted to close in on a valuation of US$ 4.86 Bn by 2028, surging ahead at a CAGR of 7.1% from 2022 to 2028.

Future Market Insights has recently published a market research report titled “Enterprise Asset Management Market – Global Industry Analysis 2014 – 2021 and Opportunity Assessment 2022 – 2028.”

The growth of Artificial Intelligence (AI) and drone-based enterprise solutions are among the factors driving the enterprise asset management market. AI helps improve data handling to make better decisions.

Asset visibility is an important factor for implementing the EAM system that gives accurate information on the identities, materials, and supplies.

Effective asset management helps control or eliminate overstocking and stockpiling, as well as helps reduce fixed capital investments.

EAM software offers more robust analytical systems for managing assets, preventative maintenance, and workflow analysis.

EAM Is Rapidly Integrating with IoT

The growing deployment of IoT in smartphones and laptops is increasing the usage of IoT-based applications.

The integration of IoT with EAM provides the identification of performance and control modifications. IoT applications allow better asset utilisation tracking and better data management, as well as streamline data in a manner in which asset lifecycle and maintenance can be analysed.

Integrating EAM systems and IoT enable companies to identify problems with their assets.

The integration of IoT with EAM solutions is expected to play an important role in the development of smart cities. Smart cities monitor the conditions of the all the critical infrastructure.

Due to the increasing demand for ensuring asset performance and advanced environmental sustainability, companies are focusing on asset-intensive platforms to constantly track, assess, and manage reliability and technological & human assets.

For the use of asset-intensive systems to offer efficient data management and better asset utilisation, the global enterprise asset management market is likely to record an approximate incremental opportunity of US$ 5,500 Mn during the forecast period of 2022 to 2028.

In the global enterprise asset management report, FMI has segregated the global enterprise asset management market by deployment, by component, by industry verticals, and by region.

With regards to component, the global enterprise asset management market is segmented into software and services.

Due to the positive outlook towards the escalating demand for next-generation tracking solutions, cloud-based deployment is estimated to generate potential growth opportunities for the enterprise asset management software providers.

Furthermore, the software sub-segment is also expected to witness a high CAGR during the forecast period. This growth can be attributed to the wide adoption of these devices in IoT applications to reduce errors.

Hybrid Cloud Resilience to Attract Revenues through On-premise Deployment

With regards to deployment, the global enterprise asset management market is segmented into on-premise and cloud.

Owing to the robust adoption and penetration of cloud-based systems, the cloud-based segment is expected to create potential business opportunities for the enterprise asset management market.

The on-premise sub-segment is also expected to create an approximate market opportunity of US$ 4,200 Mn between 2022 and 2029.

Premise is termed as scalable, reliable, and resilient for hybrid cloud solutions. Owing to these factors, the cloud-based sub-segment will be a target area for the developers of asset maintenance applications.

Furthermore, on the basis of industry vertical, the enterprise asset management market is segmented into healthcare, manufacturing, oil & gas, banking & finance, government, and others.

In addition, with respect to geography, the enterprise asset management market in North America is projected to be a prominent player in the global enterprise asset management market owing to the advent of next-gen technological advancements in Canada and the U.S.

The enterprise asset management market is estimated to generate high potential in South Asia, especially in the Chinese market.

This growth potential can be attributed to the major ICT technology-based advancements in the South Asian countries.

Moreover, the adoption of IoT-enabled EAM solutions is increasing in Latin America owing to free trade agreements between some countries in the region.

For More Info: https://www.futuremarketinsights.com/reports/global-enterprise-asset-management-market


Comments

Post a Comment

Popular posts from this blog

Infrared Imaging Market Current and Future Trends, Leading Players, and Regional Forecast By 2027

  Infrared Imaging Market  is rapidly growing in many enterprises. As many enterprises are using infrared imaging system for the security check, and surveillance of the enterprise important equipment. Initially infrared imaging is developed for military applications such as gun lights, binoculars and night vision camera’s, now it is used heavily in many commercial purpose due to its technology advancement. As closed circuit television (CCTV) camera technologies cannot give the proper detection of image in complete darkness, so Infrared imaging technology is used to detect the high-contrast image in complete darkness. Infrared imaging system can pass through smoke, dust, fog and even in the worst lighting conditions it can capture the image. Infrared Imaging Market: Drivers and Challenges The key driver growth for the infrared imaging market is rising demand in industrial and commercial use because of fast development in high speed infrared cameras with advanced features, and
Read more

Metal Deactivators Market Application, Region Wise Trend, Participants, analysis report 2027

  Metal deactivators are oil and fuel additives used as highly efficient solution to stabilize fluids by disabling the non-ferrous metal-ions. Metal deactivators reduces the negative effects in the lubricants such as corrosion and staining which is occurs mainly due to the oxidation process. To avoid this oxidation and metal contamination, special additives namely antioxidants are being used. However, cost of antioxidant chemicals is very high. Hence, for the reduction of the cost and usage of antioxidants, a very small quantity of metal deactivators are used. Selection of metal deactivators is also an important part, it is based on a number of factors including the metal to be protected, the base stock used, frequency of the application, length of time it needs to be effective and any additional properties needed for the application. The metal deactivator market is a very niche segment as compared to other additives; owing to its treat rate and its minute applications but this in
Read more

Minimally Invasive Lung Cancer Surgery Growth Analysis Report, Forecast to 2029

  The Minimally Invasive Lung Cancer Surgery holds nearly 10% of the US$ 12 Bn cancer surgery market in 2021. The global Lung Cancer Surgery Market was valued at US$ 1.23 Bn in 2021 and is expected to reach US$ 1.98 Bn by 2029, finds Future Market Insights (FMI) in a recent market survey. Lung cancer refers to the growth of abnormal cells in the lung tissue. Non-small cell lung cancer (NSCLC) and small cell lung cancer (SCLC) are the two major types of lung cancer. Treatment options for lung cancer usually includes various types of therapies such as chemotherapy, radiation therapy, immunotherapy, targeted drug therapy and surgery. Attempts to cure the disease with surgery involve the removal of the tumour, the surrounding lung tissue, and lymph nodes in the tumour area. Surgery is considered the treatment of choice for localized cancer, including carcinoid tumours. The rising level of air pollution in developing economies and the increasing research and development activities
Read more