Enterprise Asset Management Market

Top Companies List of Enterprise Asset Management - IBM (US), SAP (Germany) | MarketsandMarkets

The enterprise asset management market is expected to grow at a Compound Annual Growth Rate (CAGR) of 9.8% during the forecast period, from USD  4.7 billion by 2023 to USD 7.6 billion by 2028. The adoption of enterprise asset management solutions is expected to be driven by the increasing need of organizations to improve business efficiency, maximize return on assets (ROA), and make informed decisions.

Top Enterprise Asset Management Companies include

  • IBM (US),
  • SAP (Germany),
  • Oracle (US),
  • Hexagon (Sweden),
  • IFS (Sweden), and many more....

Major vendors in this market are in North America, Europe, and the Asia Pacific region. These enterprise asset management companies have adopted various growth strategies to strengthen their position in the market. These include product launches, contracts, partnerships, mergers and acquisitions, and new product development activities to expand market presence.

To know about the assumptions considered for the study download the pdf brochure

IBM

IBM offers comprehensive EAM solutions, such as IBM Maximo, which cover the entire asset lifecycle; this includes asset planning, procurement, operation, maintenance, and retirement. The platform provides a centralized system for managing various assets across diverse industries. IBM incorporates advanced analytics and Artificial Intelligence (AI) capabilities into its EAM solutions; this enables predictive maintenance, where organizations can anticipate equipment failures and optimize maintenance schedules, reducing downtime and extending the life of assets. Its EAM solutions have mobile applications that empower field technicians and maintenance teams to access critical information, update work orders, and perform tasks on the go, enhancing overall operational efficiency.

SAP

SAP is a German multinational software company based in Walldorf, Baden-Württemberg. It develops enterprise resource planning (ERP) software to manage business operations and customer relations. SAP plays a significant role in the realm of Enterprise Asset Management (EAM) through its SAP Service and Asset Manager (SAM) solution. This cloud-based software helps businesses of all sizes manage the entire lifecycle of their physical assets, from acquisition and installation to maintenance, optimization, and eventual disposal. The company is the world's leading enterprise resource planning software vendor. SAP is constantly investing in research and development to improve its EAM solutions. They are at the forefront of adopting new technologies, such as the Internet of Things (IoT) and artificial intelligence (AI), to further enhance the value of their offerings.

Oracle

Oracle, headquartered in the United States, is a prominent player in the Enterprise Asset Management (EAM) market. With its comprehensive suite of EAM solutions, Oracle assists organizations in managing and maintaining their physical assets effectively. These solutions cover asset lifecycle management, maintenance planning and scheduling, inventory management, and procurement. Leveraging advanced technologies such as IoT, AI, and machine learning, Oracle enables organizations to optimize asset performance, reduce downtime, and extend asset lifespan. Their EAM solutions cater to various industries, including manufacturing, utilities, oil and gas, transportation, and healthcare, helping organizations enhance operational efficiency, compliance, and asset reliability.

Hexagon

Hexagon, based in Sweden, is a leading provider of Enterprise Asset Management (EAM) solutions. With a focus on digital transformation and data-driven decision-making, Hexagon offers comprehensive EAM software tailored to various industries, including manufacturing, utilities, energy, and transportation. Their solutions cover asset performance management, maintenance planning, reliability engineering, and compliance management. Leveraging advanced analytics and IoT capabilities, Hexagon enables organizations to optimize asset utilization, improve maintenance practices, and enhance operational efficiency. By empowering organizations with real-time insights and predictive analytics, Hexagon helps them maximize asset reliability, minimize downtime, and achieve their business objectives.

IFS

IFS, headquartered in Sweden, is a prominent player in the Enterprise Asset Management (EAM) market. With a focus on delivering value through innovation, IFS offers comprehensive EAM solutions tailored to various industries, including manufacturing, aerospace and defense, utilities, and construction. Their solutions cover asset lifecycle management, preventive maintenance, work order management, and mobile asset tracking. Leveraging advanced technologies such as IoT, AI, and machine learning, IFS enables organizations to optimize asset performance, improve maintenance practices, and reduce operational costs. With a user-friendly interface and customizable workflows, IFS empowers organizations to streamline asset management processes, enhance decision-making, and drive business success.

Related Reports:

Enterprise Asset Management Market by Offering, Application (Asset Life Cycle Management, Inventory Management, Predictive Maintenance), Deployment Model, Organization Size, Vertical (Manufacturing, Energy & Utilities) & Region - Global Forecast to 2028

Enterprise Asset Management Market Size,  Share & Growth Report
Report Code
TC 3454
RI Published ON
1/22/2024
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