According to a new report by Expert Market Research titled, “United States Enterprise Asset Management Market Share, Size, Report and Forecast 2024-2032″, the United States enterprise asset management market size reached a value of USD 2.25 billion in 2023. Aided by the rising demand from businesses, the market is projected to further grow at a CAGR of 11.7% between 2024 and 2032 to reach a value of USD 6.08 billion by 2032.
EAM systems play a critical role in managing and maintaining a company’s physical assets throughout their lifecycle. These systems help organisations in various sectors, including manufacturing, healthcare, energy, and government, to streamline processes, reduce costs, and enhance operational efficiency. The adoption of EAM solutions in the United States is driven by the need for better asset reliability, compliance with regulatory standards, and the increasing complexity of managing a diverse asset portfolio.
The United States enterprise asset management market growth is propelled by several factors. One of the primary drivers is the increasing adoption of Internet of Things (IoT) and cloud-based solutions. The integration of IoT with EAM systems enables real-time monitoring and management of assets, leading to predictive maintenance and reduced downtime. Cloud-based EAM solutions offer scalability, flexibility, and cost-effectiveness, making them attractive to small and medium-sized enterprises.
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According to the United States enterprise asset management market analysis, another significant factor is the growing emphasis on sustainable practices and the need to comply with environmental regulations. EAM systems help organisations monitor and manage energy usage and emissions, contributing to more sustainable operations.
There is a growing demand for EAM systems with enhanced security features and for training programs to develop skilled professionals in this field. Additionally, the market is ripe for innovations such as the incorporation of artificial intelligence and machine learning in EAM systems for predictive maintenance and advanced analytics. Furthermore, the expansion of EAM systems in emerging sectors such as renewable energy and smart cities further influence the United States enterprise asset management market outlook.
The market is on a path of dynamic growth and transformation. Driven by technological advancements, regulatory compliance, and the increasing complexity of asset management, the market is set to expand significantly in the coming years. As businesses continue to recognise the importance of efficient asset management for operational excellence, the demand for EAM solutions is expected to surge. The market offers immense potential, not just in terms of revenue growth but also in driving operational efficiency and sustainability in various industry sectors.
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Market Segmentation
The market can be divided based on component, deployment mode, organisation size, application, end use, and region.
Market Breakup by Component
• Solution
• Services
Market Breakup by Deployment Mode
• On-Premise
• Cloud
Market Breakup by Organisation Size
• Small and Medium Enterprises
• Large Enterprises
Market Breakup by Application
• Asset Lifecycle Management
• Inventory Management
• Work Order Management
• Labour Management
• Predictive Maintenance
• Others
Market Breakup by End Use
• Transportation and Logistics
• Energy and Utilities
• Government
• IT and Telecom
• Education
• Manufacturing
• Healthcare
• Others
Market Breakup by Region
• New England
• Mideast
• Great Lakes
• Plains
• Southeast
• Southwest
• Rocky Mountain
• Far West
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the United States enterprise asset management market. Some of the major players explored in the report by Expert Market Research are as follows:
• IBM Corporation
• Oracle Corporation
• Hexagon AB
• SAP SE
• Schneider Electric SE (AVEVA)
• IFS World Operations AB
• Ramco Systems Ltd.
• MRI SOFTWARE LLC
• CGI Inc.
• Mapcon Technologies, Inc.
• Others
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