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Equipment Management Software Market Share

Report ID: GMI11212
Published Date: Sep 2024
Report Format: PDF

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Equipment Management Software Market Share

Oracle Corporation, IBM Corporation, and Microsoft Corporation held a significant market share of over 17% in 2023. Oracle delivers comprehensive, cloud-based equipment management solutions that seamlessly integrate with its expansive enterprise software ecosystem. The company emphasizes AI and machine learning for predictive maintenance and asset optimization. By leveraging its robust database technology, Oracle provides advanced data analytics and reporting features. Furthermore, Oracle tailors its solutions to specific industries, notably manufacturing, utilities, and construction, ensuring they meet the distinct needs of equipment management.

IBM enhances its Maximo Asset Management platform with cutting-edge AI and IoT capabilities. The company underscores the importance of merging equipment management with broader enterprise asset management. IBM advocates for the adoption of its cloud and hybrid cloud solutions, emphasizing their scalability and flexibility. The company is also crafting industry-specific modules and forging partnerships to broaden its market presence, especially in niches like smart buildings and industrial IoT.

Microsoft integrates equipment management features into its expansive cloud and business intelligence suite, notably through Dynamics 365 and Azure IoT. The company prioritizes smooth integration with its suite of tools and third-party applications. With significant investments in AI and mixed reality, Microsoft aims to revolutionize equipment monitoring and maintenance. Additionally, the company leverages its vast partner network to craft and implement specialized equipment management solutions across diverse sectors.

Equipment Management Software Market Companies

Major players operating in the equipment management software industry are:

Oracle Corporation
IBM Corporation
Microsoft Corporation
SAP SE
Siemens AG
IFS AB
Cisco Systems
Infor
ManageEngine
Accruent

Authors: Preeti Wadhwani, Aishvarya Ambekar

Frequently Asked Questions (FAQ) :

The market size of equipment management software was worth over USD 9.4 billion in 2023 and will expand at 8.3% CAGR between 2024 and 2032, propelled by the increasing need for efficient asset tracking and maintenance in industries, such as construction, manufacturing, and logistics.

Equipment management software market from the cloud deployment mode segment held 64% revenue share in 2023, fueled by its scalability, flexibility, and cost-effectiveness.

North America equipment management software industry will exceed USD 7.1 billion by 2032, owing to advanced technological infrastructure and high adoption rates of digital solutions across various industries.

Key players operating in the equipment management software industry are Oracle Corporation, IBM Corporation, Microsoft Corporation, SAP SE, Siemens AG, IFS AB, Cisco Systems, Infor, ManageEngine, and Accruent, among others.