Enterprise Asset Management

The Enterprise Asset Management market research delivers current market analysis plus a five year market and technology forecast. It is available in multiple editions including worldwide, all regions, and most major countries.

Modern Enterprise Asset Management Systems Help End Users Meet Business Objectives

ARC Advisory Group research on the Enterprise Asset Management (EAM) market reveals that EAM systems have become a primary enabler of digital transformation for asset management among industrial companies. EAM systems are becoming key for end users in achieving their business goals. Modern enterprise asset management combines traditional maintenance management strategies with new digital technologies for transformation advances in reliability, maintenance execution, and business performance.

Enterprise Asset Management Strategic Issues

Enterprise Asset ManagementIn addition to providing a five-year market forecast, the Enterprise Asset Management market research provides detailed quantitative current market data and addresses key strategic issues as follows.

Mobility for Improved EAM System Integrity

Unfortunately, the mobile device of choice is too often manual (on paper). A 2022 survey of EAM users indicates that 40 percent of EAM work orders are printed. The technician records activity handwritten on paper in the field with data entry later by a clerical person–a process prone to data quality problems with reading and interpreting the handwriting that undermines trust in the system. Handheld mobile devices have high interest for adoption, but many struggle with the financial justification. Handheld smart devices have grown in capability with technologies such as global positioning system (GPS), geographic information system (GIS), radio frequency identification (RFID), and embedded cameras. Also, instruments with Bluetooth allow for more automated data collection. In addition to improving data quality, these mobility capabilities enable more powerful applications, improved business processes, and business value.

Compared with paperwork orders, mobile devices enable the full capability of the EAM system. Mobility allows technicians to enter data and process the work order as part of their workflow while doing the work. This improves data quality and timeliness, which improves the integrity of the EAM system. Since the EAM system can be trusted, it goes from a historical record-keeping system to a proactive planning and scheduling system. Also, the technicians can access information like drawings, instructions, and inventory status so they can be more effective while in the field. For example, when a repair is in progress and an unanticipated problem is identified, the technician has access to the information like the status of replacement parts to determine the next steps, i.e., continue the repair or close it up for another time. The benefits (real-time work order processing) and business value (lower costs, higher data integrity, and improved customer service) are now well understood. The mobile devices align with the information needs of technicians and the capabilities of a modern EAM system.

Leverage Advanced EAM Solutions

Over the past few years, end users have focused on educating their maintenance and operations teams on the benefits of EAM systems to encourage EAM solution adoption. However, many key functionalities of advanced EAM systems may remain unexplored. To get the maximum benefit out of their EAM investments, users must put in an extra effort on their part to learn and train their staff on how to effectively use newer features and functions of their EAM systems. End users should keep maintenance personnel involved with training to keep them up to date on advanced functionalities that are constantly being added to modern EAM systems. End users should also review ongoing asset management practices from time to time and prioritize training.

Integrate Different Asset Management Systems

To best realize the benefits of different APM solutions, it is also important to integrate these various systems to leverage all the key asset information and create close-loop solutions. For example, if the PdM system indicates an alarming condition, it is crucial to get that alarm in the EAM system so that the maintenance plan can be executed accordingly. While manufacturers understand the importance of integrating their various asset management solutions, it remains a major challenge in the industry. In a 2021 APM survey conducted by ARC Advisory Group over half of the respondents indicated this to be their top-most challenge. Manufacturers should work closely with system integrators and suppliers to address this challenge.

Market Data Research Available Datasets

This in-depth market data research is split into two key modules: Market Growth Outlook and Competitive Analysis.  Each of these modules is further configured into several sub-modules to meet the needs of executives as well as marketing, sales, and product development managers.  All of these modules and sub-modules may be purchased as a bundle or separately.  A brief description of these modules, sub-modules, and their use cases is included below.

Market Growth Outlook

ARC’s market growth outlook service delivers an in-depth market opportunity analysis including five-year market and technology forecasts and 3-year history trend lines where available. Besides providing an in-depth analysis of the market opportunity provided by each technology, this service allows technology suppliers to analyze their own customized markets consisting of multiple technologies. For example, customers can view different market scenarios by adding or removing technology markets from the analysis, providing them a Total Available Market (TAM) view of their own served market. A list of the available market growth outlook services can be seen in the list below.  

This service is designed to help accelerate your organization's ability to understand an up-to-date view of the market opportunity provided by your current product portfolio and analyze how your company’s market opportunity would change if you were to acquire or divest a particular product line. The service will also help you identify and capitalize on emerging markets, whether these markets are based on an emerging technology, region, vertical industry, or application. Built upon a proprietary market model and ARC’s field proven primary research, this service helps product and marketing managers optimize their business plans by identifying the opportunities provided by emerging trends. ARC’s reputation as the preeminent independent provider of market growth opportunity analyses for nearly four decades also provides greater weight to your business plans. ARC’s market growth outlook services are available in a variety of formats depending on whether you view your market opportunities via different technologies, industries, or world regions.  

In addition, ARC has a strong history of providing customized market opportunity reports and services to meet your specific needs.  For example, you may sell your products only to specific industries and/or in only one or two regions. You tell us your served markets and ARC can quickly configure a report or service designed to best serve your served market.

ARC provides several versions of these reports and services depending on your role in the organization. Executive Views are high level market opportunities designed to help executives quickly identify key trends and market opportunities around the world.  In-depth market opportunity analyses provide marketing and product managers more detailed technology specific market information to plan marketing and product development strategies.  The following table shows more specific information included in each version.

Market Growth Outlook AnalysisUse CasesTarget Role
Worldwide Market Growth Outlook by Industry & Region with 3-year history where availableIn-depth technology-specific strategic growth planning across multiple technologies, applications, regions, and industriesProduct & Marketing Managers
Worldwide Industry Growth Outlook by Region with 3-year history where availableStrategic technology growth planning for markets defined by a single or multiple vertical industriesIndustry Managers
Regional/Country Market Growth Outlook by Technology & Industry with 3-year history where available (includes country data)Strategic technology growth planning for markets defined by a single or multiple world regionsRegional & Country Sales Managers
Market Growth Outlook Executive ViewStrategic Total Available Market (TAM) growth planning dashboard covering multiple vertical industries, technologies, and world regionsExecutives
Market Competitive Analysis

ARC’s Competitive Analysis services deliver in depth competitive analyses across multiple technologies, applications, regions, and industries.  Besides providing an in-depth analysis of the market opportunity provided by each technology, this service allows technology suppliers to analyze their own customized markets consisting of multiple technologies. For example, customers can view different market scenarios by adding or removing technology markets from the analysis, providing them a Total Available Market (TAM) view of their own served market. A list of the available market growth outlook services can be seen in the list below.  

This service is designed to help product and marketing managers identify their company’s market positioning across multiple views within their Serviceable Available Market (SAM). Built upon a proprietary market model and ARC’s field proven primary research, this service helps product and marketing managers optimize their business plans by identifying how their company’s market position would change if the company were to acquire or divest a particular product line or technology. ARC’s reputation as the preeminent independent provider of competitive market benchmarking for nearly four decades lends greater weight to your business plans. ARC’s market competitive services are available in a variety of formats depending on whether you view your market opportunities via different technologies, industries, or world regions.  

In addition, ARC has a strong history of providing customized market opportunity reports and services to meet the specific needs of our clients.  For example, you may sell your products only to specific industries and/or in only one or two regions. You tell us your served markets and ARC can quickly configure a report or service designed to best serve your served market.

ARC provides several versions of these reports and services depending on your role in the organization. Executive Views are high level market competitive analyses designed to help executives quickly assess their SAM by world region, technology, or vertical industry. In-depth competitive market analyses provide marketing and product managers more detailed technology specific benchmarking information to plan marketing and product development strategies.  The following table shows more specific information included in each version. 

Competitive AnalysisUse CasesTarget Role
Worldwide Competitive Analysis by TechnologyIn-depth competitive market analysis that quantifies how your company’s market position has changed over time across multiple technologies, applications, regions, and industriesProduct & Marketing Managers
Worldwide Competitive Analysis by IndustryStrategic technology-based competitive analyses for markets defined by a single or multiple vertical industriesIndustry Managers
Regional/Country Competitive Analysis by IndustryStrategic technology-based competitive analyses for markets defined by a single or multiple world regionsRegional Sales Managers
Competitive Analysis Executive ViewStrategic Serviceable Available Market (SAM) analysis dashboard covering multiple vertical industries, technologies, and world regionsExecutives

Worldwide Research Focus Areas

Strategic Analysis

  • Executive Overview
  • Market Trends
  • Buyer Strategies
  • Supplier Strategies
  • Growth Contributors and Inhibitors

Competitive Analysis

  • Market Shares of the Leading Suppliers
  • Market Shares by Region
    • North America
    • Europe, Middle East, Africa
    • Asia
    • Latin America
  • Market Shares by Revenue Category
    • Software
      • License
      • Software-as-a-Service
      • Subscription (non-SaaS)
    • Services
      • Consulting Services
      • Maintenance Services
      • Implementation Services
  • Market Shares by Application and Asset Type
    • Production Equipment
    • Facilities
    • Fleet
    • Linear Assets
    • Complex Asset MRO
  • Market Shares by Industry
    • Aerospace & Defense
    • Automotive
    • Chemical
    • Education
    • Electric Power Generation
    • Electric Power T&D
    • Financial
    • Food & Beverage
    • Government
    • Healthcare
    • Machinery Manufacturing
    • Metals
    • Mining
    • Oil & Gas
    • Pharmaceutical & Biotech
    • Pulp & Paper
    • Refining
    • Semiconductors
    • Telecommunications
    • Transportation & Logistics
    • Water & Wastewater
  • Market Shares by Sales Channel
  • Market Shares by Customer Size

Market Forecasts and Histories

  • Total Shipments of Enterprise Asset Management
  • Shipments by Region
    • North America
    • Europe, Middle East, Africa
    • Asia
    • Latin America
  • Shipments by Revenue Category
    • Software
      • License
      • Software-as-a-Service
      • Subscription (non-SaaS)
    • Services
      • Consulting Services
      • Maintenance Services
      • Implementation Services
  • Shipments by Application and Asset Type
    • Facilities
    • Production Equipment
    • Linear Assets
    • Fleet Asssets
    • Complex Asset MRO
  • Shipments by Industry
    • Automotive
    • Aerospace & Defense
    • Chemical
    • Education
    • Electric Power Generation
    • Electric Power T&D
    • Financial
    • Food & Beverage
    • Government
    • Healthcare
    • Logistics
    • Machinery Manufacturing
    • Metals
    • Mining
    • Oil & Gas
    • Pharmaceutical & Biotech
    • Pulp & Paper
    • Refining
    • Semiconductors
    • Telecommunications
    • Transportation & Logistics
    • Water & Wastewater
  • Shipments by Sales Channel
  • Shipments by Customer Size

Industry Participants

The research identifies all relevant suppliers serving this market.

Regional Research Focus Areas

Strategic Analysis

Competitive Analysis

  • Leading Suppliers in Region
  • Industry Shares in Region
  • Country Shares in Region
  • Leading Suppliers by Industry

Market History & Forecast Analysis 

  • Market History & Forecast by Country
  • Market History & Forecast by Industry

Industry Participants

List of countries & currencies included in each region: MIRA-Country

For More Information

For more information or to purchase the Enterprise Asset Management Market Research, please contact us.

Learn more about ARC In-depth Research at Market Analysis

Learn more about ARC Strategic Services at Advisory Services for Industry Leaders 

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