SaaS Upturns the EAM Market
Enterprise Asset Management (EAM) provides the visibility required to manage assets and operations within an organization. The key functional areas include asset information, work orders, MRO materials, labor skills, service contracts, finance, and analytics.
The four major goals of asset management — uptime, cost control, asset longevity, and safety — represent the key reasons for acquiring EAM systems. These goals directly affect C-suite objectives in the P&L statement and balance sheet for revenue, cash conservation, profitability, and risk management.
Software-as-a-Service (SaaS) has lowered the cost of entry and risk which significantly expands adoption into previously underserved areas. Also, companies are adopting SaaS to obtain new features in the current version and avoid the pain and expense of upgrades.
The average age of assets continues to increase, requiring improved asset management to operate as designed, while extending service life. Also, recently acquired assets contain a variety of new technologies. A modern EAM system provides the means to achieve the operational goals, and the executive needs for high return on assets (ROA).
This ARC market outlook study explores
users objectives for upgrading or acquiring new EAM systems, reviews
supplier strategies, and answers a number of key strategic questions, such as:
• How has SaaS depressed on-premise licenses and maintenance services?
• What are the key market drivers and how can suppliers increase their
• Which industries and geographies offer the best
• What application areas that will grow the fastest?
• How is the Industrial Internet of Things (IIoT) and
mobility changing the market?