SaaS Upturns the EAM-FSM Market
Enterprise Asset Management (EAM) and Field Service Management (FSM) provide the visibility required to manage assets and operations. The key functional areas include asset information, work orders, MRO materials, labor skills, service contracts, finance, and analytics.
The four major goals of assets — uptime, cost control, asset longevity, and safety — represent the key reasons for acquiring EAM/FSM. These goals directly affect C-suite objectives in the P&L statement and balance sheet for revenue, cash conservation, profitability, and risk management.
Cloud and SaaS have lowered the cost of entry and risk for small to medium customers which significantly expands adoption into previously underserved areas. Large companies are adopting SaaS to obtain new features and be on the current version without the pain of an upgrade.
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/FSM 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-FSM systems, reviews
supplier strategies, and answers a number of key strategic questions, such as:
• When will SaaS depress 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?
are the effects of government budget restrictions?
• How is
mobility and Internet of Things (IoT) changing the market?