Home > Media & Technology > Information Technology > IT Software > Enterprise Asset Management (EAM) Market

Enterprise Asset Management (EAM) Market Size

Report ID: GMI5149
Published Date: Jan 2023
Report Format: PDF

Download Free Sample

Enterprise Asset Management Market Size

Enterprise Asset Management Market size valued at USD 4 billion in 2022 and is anticipated to register over 9% CAGR from 2023 to 2032. The industry growth is driven by the rising usage of IoT devices and platforms for managing enterprise assets.

To get key market trends

Download Free Sample

IoT-enabled asset management solutions offer a host of benefits to enterprises, including enhancing asset life cycle, optimizing equipment effectiveness, reducing errors, enabling predictive maintenance, tracking their asset performance, and improving security. As a result, many firms are developing intelligent and advanced IoT-enabled asset management solutions for their customers. For instance, in June 2021, Safecube, a French logistics software firm, launched a new IoT-enabled asset-tracking solution powered by Sigfox OG network.

Enterprise Asset Management Market Report Attributes
Report Attribute	Details
Base Year:	2022
Enterprise Asset Management Market Size in 2022:	USD 4 Billion
Forecast Period:	2023 to 2032
Forecast Period 2023 to 2032 CAGR:	9%
2032 Value Projection:	USD 12 Billion
Historical Data for:	2018 to 2022
No. of Pages:	270
Tables, Charts & Figures:	498
Segments covered:	Component, Deployment Model, Enterprise Size, Application, End-user and Region
Growth Drivers:	Increasing shift from legacy asset management method to modern asset management by enterprises Rising popularity of SaaS-based EAM solutions Increased usage of IoT platforms and devices to manage enterprise assets Convergence of technologies such as AI, IoT and analytics Increase in mobility usage among end-users
Pitfalls & Challenges:	Stringent regulatory compliance Concern over data security and cybersecurity challenges

Learn more about the key segments shaping this market

Download Free Sample

Cybersecurity and data security concerns may constrain industry development

While industries are growingly investing into cybersecurity measures, increasing instances of cyberattacks across the financial sector is likely to constrain the market outlook. Cybercriminals almost always target financial institutions to gain access to the vast stores of financial databases and other personal information of customers. Ransomware attacks are the most common ones faced by asset management companies as they help cybercriminals steal highly confidential and consequential data.

Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

The market size of enterprise asset management valued at USD 4 billion in 2022 and is poised to depict more than 9% CAGR from 2023 to 2032 owing to the surging usage of IoT devices and platforms for managing assets.

The large enterprises segment expected to account for more than 61% the enterprise asset management market share by 2032, driven by the surging BYOD trend and remote working culture among global enterprises.

The industry for enterprise asset management in Europe is slated to grow at 9.5% CAGR through 2023 - 2032, owing to the increasing EU-sponsored digital transformation initiatives in the region.

Some key contenders in the global market include ABB Ltd, Asset Infinity, Aptean, Inc., Aveva Group Plc, Assetworks LLC, CGI Group Inc., Cheqroom NV, Assetpanda, among others.