New ARC Advisory Group research on the Enterprise Asset Management (EAM) market reveals that as EAM systems adopt new technologies and offer expanded capabilities, they are becoming key for end users in achieving their business goals. Modern EAM systems have become a primary enabler of digital transformation for asset management among industrial companies. Modern EAM combines traditional maintenance management strategies with new digital technologies for transformation advances in reliability, maintenance execution, and business performance.
"The enterprise asset management market has strong growth for several reasons, most notably because of the business benefits available with modern EAM and APM capabilities. This translates into expanded capabilities for improved uptime, asset longevity, and cost control with reduced unplanned downtime. Expectations for enterprise asset management systems that include advanced asset management capabilities are on the rise. This includes APM, PdM, digital twins, reliability-centered maintenance (RCM), root cause analysis (RCA), and several others. Modern EAM systems add meaningful value, particularly when coupled with access to real- time data from equipment sensors and edge devices, as organizations strive to optimize processes across production and maintenance functions,” according to Inderpreet Shoker, Director of Research and key author of ARC's Enterprise Asset Management Market Research.
Enterprise Asset Management Market Trends
In addition to providing detailed competitive market share data, the research also addresses key market trends as follows:
- Connected Assets
- SaaS and Cloud Adoption
- Adoption of Mobile Devices
- Awareness of Advanced EAM Systems
Leading Suppliers to the Enterprise Asset Management Market Identified
In addition to providing specific market data and industry trends, this ARC market research also identifies and positions the leading suppliers to this market and provides and summarizes their relevant offerings. An alphabetical list of key suppliers covered in this analysis includes: Hexagon, Hitachi Energy, IBM, IFS, SAP.
About the Enterprise Asset Management Research
The Enterprise Asset Management research explores the current and future market performance and related technology and business trends and identifies leading technology suppliers. This new research is based on ARC’s industry-leading market research database, extensive primary and secondary research, and proprietary economic modelling techniques. The research includes competitive analysis, five-year market forecasts, and five years of historical analysis. The research segmentation includes Industry, World Region, Sales Channel, Service Revenues by Type, Revenue Category, Customer Tier, Software Revenues by Type, Application and Asset Type, Overall Scope.
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