Market Size and Share:

According to a recent report by Expert Market Research, the Global Enterprise Asset Management Market Size reached a value of USD 4.58 billion in 2022 and is projected to grow at a compound annual growth rate (CAGR) of 11.61% from 2023 to 2028. It is expected to achieve a value of USD 9.2 billion by 2028.. The report also shows that the North American region is expected to hold the largest market share during the forecast period due to the increasing adoption of EAM solutions in various industries.

Price Trends:

The price of EAM solutions varies depending on the type of solution and the vendor. On-premise EAM solutions are generally more expensive than cloud-based solutions due to the additional hardware and infrastructure requirements. However, on-premise solutions are still popular among large enterprises that require complete control over their data and infrastructure.

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Growth Trends:

The Enterprise Asset Management market is expected to grow rapidly in the coming years due to the increasing demand for EAM solutions in various industries. The manufacturing sector is expected to be the largest adopter of EAM solutions due to the need for better asset management and maintenance practices. The healthcare sector is also expected to witness significant growth due to the increasing adoption of medical equipment and devices.

Industry Reports:

There are several industry reports available on the Enterprise Asset Management market, including:

Expert Market Research: Enterprise Asset Management Market by Component, Deployment Mode, Organization Size, Industry Vertical And Region – Global Forecast to 2023

Read Full Report with Table of Contents – https://www.expertmarketresearch.com/reports/enterprise-asset-management-market 

Gartner: Magic Quadrant for Enterprise Asset Management Software

ARC Advisory Group: Enterprise Asset Management Market Research Study

Forecast for 2023-2028:

The report shows that the increasing adoption of IoT and AI technologies in EAM solutions is expected to drive market growth in the coming years.

FAQs:

Q: What is Enterprise Asset Management?
A: Enterprise Asset Management (EAM) is a comprehensive approach to managing and maintaining physical assets across an organization. The goal of EAM is to optimize asset utilization, reduce maintenance costs, and improve overall productivity.

Q: How much is the Enterprise Asset Management market expected to grow by 2023?
A: The Enterprise Asset Management market is expected to grow from $4.15 billion in 2018 to $8.20 billion by 2023, at a CAGR of 14.8% during the forecast period.

Q: Which region is expected to hold the largest market share during the forecast period?
A: The North American region is expected to hold the largest market share during the forecast period due to the increasing adoption of EAM solutions in various industries.

Q: Which industry is expected to be the largest adopter of EAM solutions?
A: The manufacturing sector is expected to be the largest adopter of EAM solutions due to the need for better asset management and maintenance practices. This sector requires consistent monitoring and management of various assets such as equipment, tools, and machinery. EAM solutions help manufacturers optimize their asset utilization, improve equipment reliability, and reduce downtime.

Q: What are the benefits of using EAM solutions?
A: EAM solutions offer several benefits, including:
• Improved asset visibility and tracking
• Increased asset utilization and productivity
• Reduced maintenance costs and downtime
• Better compliance with regulatory requirements
• Improved asset lifecycle management
• Enhanced decision-making capabilities

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