Enterprise Asset Management Market report contains detailed information on factors influencing demand, growth, opportunities, challenges, and restraints. It provides detailed information about the structure and prospects for global and regional industries. In addition, the report includes data on research & development, new product launches, product responses from the global and local markets by leading players. The structured analysis offers a graphical representation and a diagrammatic breakdown of the Enterprise Asset Management Market by region.

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The Enterprise Asset Management Market is projected to grow at a significantly steady rate during the forecast period. The global enterprise asset management market size is expected to grow from USD billion in 2019 to USD billion by the year 2025, at a CAGR of over10.0% from 2019 to 2025. The global enterprise asset management market is growing owing to various factors. The EAM market is growing at a steady rate, as the organizations are highly focussing on maximizing the efficiency of equipment and assets through the help of various advanced technologies.

COVID-19 Impact

The COVID-19 pandemic in 2019 engulfed the world. It caused a worldwide halt. The entire global economy was affected. In addition, many people have also lost their lives. Around 252,297,094 cases and 5,091,465 deaths have been reported worldwide so far for COVID-19. The pandemic spread to almost every country in the world. In most industries, the pandemic resulted in some form of loss. As a result of the pandemic, the Enterprise Asset Management Market also experienced a slowdown. Statista estimates that the Enterprise Asset Management Market total worldwide revenue stood at approximately US$ 3.94 trillion in 2019. In 2014, the Enterprise Asset Management Market generated revenues of US$ 5.4 trillion at a record high.

The degree of competition among prominent global companies has been developed by analyzing several leading competitors operating globally. In addition, specialist analysts examine various aspects of the Enterprise Asset Management Market, including market competition, market share, the most recent advancements in the industry, innovative product launches, partnerships, mergers, and acquisitions by leading companies. 

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Enterprises require EAM for the management of assets, structures, machines, IT, and other venture resources. Return on assets (ROA) indicates how gainful an organization’s advantages are in creating income. EAM offers proper management of assets that forestalls the glitch of machines or hardware and in this way, lessens machine downtime. One of the open doors for the development of players working in the enterprise asset management market lies in the mix of AI and drone-based asset management. Computer-based intelligence is utilized to improve information dealing with wherein information can be broke down from the records which can empower mid-level administration to settle on better and attach the basic leadership process.

Further, drone-based asset management helps in the accumulation of data from spots that are out of human reach. The gathered data provided to the framework for further forms. For example, drone-based asset management can be utilized in offshore oil drilling platforms, oil refineries, bridges, airplanes, railroad beds, and cargo ships.

According to Statista, as of 2021 data, the United States held over ~36% of the global market share for information and communication technology (ICT). With a market share of 16%, the EU ranked second, followed by 12%, China ranked third. In addition, according to forecasts, the ICT market will reach more than US$ 6 trillion in 2021 and almost US$ 7 trillion by 2023. In today’s society, continuous growth is another reminder of how ubiquitous and crucial technology has become. Over the next few years, traditional tech spending will be driven mainly by big data and analytics, mobile, social, and cloud computing.

This report analyzes the global primary production, consumption, and fastest-growing countries in the Information and Communications Technology(ICT) market. Also included in the report are prominent and prominent players in the global Information and Communications Technology Market (ICT).

SMEs segment is expected to hold a major share in the global enterprise asset management market

Given association size, the EAM market portioned into small and medium-sized enterprises (SMEs) and large enterprises. The SMEs portion is required to develop at a higher rate during the conjecture time frame when contrasted with the enormous ventures’ section. SMEs can use mobility-based low-cost EAM solutions for staying focused on the market. Also, SMEs having less budgetary strength when contrasted with enormous undertakings will require extra help from enterprise asset management solutions providers to augment the usage of their assets.

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The North American section holds a significant share in the global enterprise asset management market

North America is anticipated to hold the biggest market size in the worldwide EAM world, while Asia Pacific (APAC) is relied upon to develop at the most astounding CAGR during the conjecture time frame. North America is relied upon to be the main area regarding embracing and creating EAM arrangements. The expanding request to stick to stringent administrative compliances, expanding the nearness of EAM sellers and developing government backing is a central point of the market development during the conjecture time frame. Overwhelming ventures made by private and open divisions for overseeing crucial resources and hardware, bringing about an expanded interest for EAM arrangements and administrations used to build the advantage life cycle and decrease in general upkeep cost is a central point energizing the development of the market in APAC.

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The Global Enterprise Asset Management Market: Competitive Insight

The major players in the global enterprise asset management market includes companies like CGI (Canada), IPS (Germany), Maintenance Connection (US), AVEVA (UK), AssetWorks (US), RFgen (US), eMaint (US), UpKeep (US), Ultimo Software Solutions (UK), IBM (US), Oracle (US), IFS (Sweden), SAP (Germany), Infor (US), ABB (Switzerland), and Aptean (US). These major players have adopted various inorganic and organic growth strategies, such as partnerships and collaborations, new product launches, acquisitions, and mergers, to expand their worldwide presence in the global EAM market further.

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What is the goal of the report?
• The market report presents the estimated size of the ICT market at the end of the forecast period. The report also examines historical and current market sizes.
• During the forecast period, the report analyzes the growth rate, market size, and market valuation.
• The report presents current trends in the industry and the future potential of the North America, Asia Pacific, Europe, Latin America, and the Middle East and Africa markets.
• The report offers a comprehensive view of the market based on geographic scope, market segmentation, and key player financial performance

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