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A16000 | Pages: 141 | Charts: 44 | Tables: 53 |
The U.S. enterprise asset management market was valued at USD 1,604.68 million in 2020 and is projected to reach USD 4,391.99 million by 2030, growing at a CAGR of 11.5% from 2021 to 2030.
Enterprise asset management (EAM) is a combination of software, systems and services used to maintain and control operational assets and equipment. EAM is used to plan, optimize, execute, and track the needed maintenance activities with the associated priorities, skills, materials, tools, and information. The aim is to optimize the quality and utilization of assets throughout their lifecycle, increase productive uptime and reduce operational costs. EAM is widely used in industries that heavily depend on expensive and complex physical assets such as vehicles, plants and heavy equipment. Major consumers include the oil and gas, manufacturing, mining, energy, government, utility and aerospace & defense industries.
Increasing demand to extend the life span of key enterprise assets with the help of advanced technologies is contributing to the growth of the EAM industry in the U.S. Moreover, EAM Solutions help business owners or companies with uptime, inventory management as well as strategic planning. In addition, increase in demand for SaaS-based EAM solutions is also driving the market growth. However, issues associated with regulatory compliance along with cyber security and concern over data security are hampering the market growth. Furthermore, convergence of technologies such as AI, ML, IoT, and analytics with EAM solutions, has created numerous opportunities for market growth.
By Component, the solution segment dominated the growth in the U.S. enterprise asset management market in 2020, and is expected to maintain its dominance in the upcoming years. EAM solutions can be used by the entire organization to increase asset performance throughout the asset life cycle, to achieve better return on investment, to keep offices safer, to improve ownership costs with improved lifecycle cost, and to improve efficiency. However, services segment registered highest growth rate during forecasted period. As services help implement and integrate specific IT solutions into the enterprise ecosystem, they serve as an essential part of any organization. They play an important role in the enterprise asset management market because they help the organization focus on identifying, and rectifying the asset.
By deployment, the on-premise segment dominated the growth in the U.S. enterprise asset management market in 2020, and is expected to maintain its dominance in the upcoming years. On-premise-based solutions are known for better maintenance of servers, and continuous system facilitates the implementation of EAM solutions. In addition, the on-premises deployment mode is considered widely useful in large enterprises, as it involves a significant investment to implement, and organizations need to purchase interconnected servers as well as software to manage the system.
By Organization Size, the large enterprises segment dominated the growth in the U.S. enterprise asset management market size in 2020. This is due to large enterprises have hundreds of physical assets that need to be taken care of and maintained regularly. So, EAM solutions are rapidly adopted by large enterprises for maintaining assets. However, small and medium enterprises will register highest growth rate during forecasted period.
By Industry Vertical, the energy and utilities segment dominated the U.S. enterprise asset management market in 2020. Enterprise Asset Management (EAM) solutions are used in energy and utilities industries to ensure their infrastructure is able to meet diverse challenges. In addition, power generation companies are now finding alternatives and also investing in renewable energy to meet sustainability requirements. Thus, for operations management and inventory management, EAM solutions are the key for better and smooth operations and smooth transition from conventional to renewable energy adoption. Moreover, preventive and predictive maintenance solutions of EAM help in better and exact planning. However, healthcare segment will register highest growth rate during forecasted period.
The report focuses on the growth prospects, restraints, and opportunities for U.S. enterprise asset management market share. The study provides Porter’s five forces analysis of the U.S. enterprise asset management market forecast to understand the impact of various factors such as bargaining power of suppliers, competitive intensity of competitors, the threat of new entrants, threat of substitutes, and bargaining power of buyers on the U.S. enterprise asset management market trends.
The U.S. enterprise asset management market is segmented on the basis of component, deployment type, organization size and industry vertical. By component, it is segmented into solution and service. By deployment type, it is bifurcated into on-premise and cloud. Based on organization size, the market is bifurcated into large enterprise and small & medium enterprises. Based on industry vertical, it is segregated into Energy & Utilities, Transportation and Logistics, Government, IT and Telecommunications, Manufacturing, Healthcare, Education, and others.
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Increasing demand to extend the life span of key enterprise assets with the help of advanced technologies is contributing to the growth of the EAM industry in the U.S. Moreover, Enterprise asset management software help business owners or companies with uptime, inventory management as well as strategic planning. In addition, increase in demand for SaaS-based EAM solutions is also driving the U.S. enterprise asset management market growth. However, issues associated with regulatory compliance along with cyber security and concern over data security are hampering the market growth. Furthermore, convergence of technologies such as AI, ML, IoT, and analytics with EAM solutions has created numerous opportunities for market growth.
Upsurge in deployment of solutions such as asset performance management (APM), enterprise asset management (EAM), and enterprise resource planning (ERP) in the cloud offers many functional, technical, and business benefits. For instance, the SaaS-based asset management software and related solutions have seen huge demand due to several advantages such as the agility and efficiency coupled with many competitive advantages. On the other hand, the leading market players are introducing new SaaS-based asset management solutions.
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For instance, in March 2022, Aptean, a provider of mission-critical enterprise software solutions launched Aptean EAM, the SaaS-based enterprise asset management (EAM) solution for manufacturing and other businesses that depend on complex equipment to support production.
This offering functions as a standalone computerized maintenance management system (CMMS) and delivers advanced EAM functionality. Introduction of such SaaS-based solutions further boosts growth of the U.S. enterprise asset management market. Furthermore, during the COVID-19 pandemic, many enterprises across the globe have prompted adoption of the work-from-home model to safeguard employee well-being as well as to maintain operational efficiency. This has led to surge in demand for SaaS-based enterprise asset management solutions.
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Integration of artificial intelligence (AI) in asset management helps the organization to predict transactions, optimize portfolios, and make highly accurate forecasts. In addition, it automates and deepens trader risk profiling, news and event analytics, market sentiment analysis, reputational risk management and client profile generation.
In addition, the companies operating in the U.S. enterprise asset management industry are adopting various strategies to enhance AI capabilities of their EAM solutions. For instance, Zebra Technologies, the U.S.-based company announced to acquire antuit.ai, an artificial intelligence (AI)-powered Software-as-a-Service (SaaS) solutions provider for the retail and consumer packaged goods (CPG) industries.
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Key Market Segments
CHAPTER 1:INTRODUCTION
1.1.REPORT DESCRIPTION
1.2.KEY BENEFITS FOR STAKEHOLDERS
1.3.KEY MARKET SEGMENTS
1.4.RESEARCH METHODOLOGY
1.4.1.Secondary research
1.4.2.Primary research
1.4.3.Analyst tools and models
CHAPTER 2:EXECUTIVE SUMMARY
2.1.KEY FINDINGS
2.1.1.Top impacting factors
2.1.2.Top investment pockets
2.2.CXO PERSPECTIVE
CHAPTER 3:MARKET OVERVIEW
3.1.MARKET DEFINITION AND SCOPE
3.2.KEY FORCES SHAPING U.S. ENTERPRISE ASSET MANAGEMENT MARKET
3.3.MARKET DYNAMICS
3.3.1.Drivers
3.3.1.1.Increase in demand to extend the life span of enterprise assets
3.3.1.2.Huge demand for SaaS-based EAM solutions
3.3.1.3.Increase in need to generate maximum economical return on the assets
3.3.1.4.Global acceleration of digital transformation in enterprises due to COVID-19 outbreak
3.3.2.Restraints
3.3.2.1.Lack of knowledge while selecting the solutions that perfectly match the enterprise business
3.3.2.2.Issues associated with regulatory compliance
3.3.3.Opportunities
3.3.3.1.Convergence of technologies such as AI, ML, IoT, and analytics
3.3.3.2.The emergence of industrial internet of things (IIoT) and industry 4.0
3.4.COVID-19 IMPACT ANALYSIS ON U.S. ENTERPRISE ASSET MANAGEMENT MARKET
3.4.1.Impact on U.S. enterprise asset Management market size
3.4.2.Change in consumer trends, preferences, and budget impact, owing to COVID-19
3.4.3.Regulatory Framework
3.4.4.Economic impact on U.S. Enterprise Asset Management providers
3.4.5.Key player strategies to tackle negative impact on the industry
3.4.6.Opportunity analysis for the U.S. Enterprise Asset Management providers
CHAPTER 4:U.S. ENTERPRISE ASSET MANAGEMENT MARKET, BY COMPONENT
4.1.OVERVIEW
4.2.SOLUTION
4.2.1.Key market trends, growth factors, and opportunities
4.2.2.Market size and forecast
4.3.SERVICES
4.3.1.Key market trends, growth factors, and opportunities
4.3.2.Market size and forecast
CHAPTER 5:U.S. ENTERPRISE ASSET MANAGEMENT MARKET, BY DEPLOYMENT TYPE
5.1.OVERVIEW
5.2.ON-PREMISE
5.2.1.Key market trends, growth factors, and opportunities
5.2.2.Market size and forecast
5.3.CLOUD
5.3.1.Key market trends, growth factors, and opportunities
5.3.2.Market size and forecast
CHAPTER 6:U.S. ENTERPRISE ASSET MANAGEMENT MARKET, BY ORGANIZATION SIZE
6.1.OVERVIEW
6.2.LARGE ENTERPRISE
6.2.1.Key market trends, growth factors, and opportunities
6.2.2.Market size and forecast
6.3.SMALL & MEDIUM ENTERPRISES
6.3.1.Key market trends, growth factors, and opportunities
6.3.2.Market size and forecast
CHAPTER 7:U.S. ENTERPRISE ASSET MANAGEMENT MARKET, BY INDUSTRY VERTICAL
7.1.OVERVIEW
7.2.ENERGY & UTILITIES
7.2.1.Key market trends, growth factors, and opportunities
7.2.2.Market size and forecast
7.3.TRANSPORTATION & LOGISTICS
7.3.1.Key market trends, growth factors, and opportunities
7.3.2.Market size and forecast
7.4.GOVERNMENT
7.4.1.Key market trends, growth factors, and opportunities
7.4.2.Market size and forecast
7.5.IT AND TELECOMMUNICATIONS
7.5.1.Key market trends, growth factors, and opportunities
7.5.2.Market size and forecast
7.6.MANUFACTURING
7.6.1.Key market trends, growth factors, and opportunities
7.6.2.Market size and forecast
7.7.HEALTHCARE
7.7.1.Key market trends, growth factors, and opportunities
7.7.2.Market size and forecast
7.8.EDUCATION
7.8.1.Key market trends, growth factors, and opportunities
7.8.2.Market size and forecast
7.9.OTHERS
7.9.1.Key market trends, growth factors and opportunities
7.9.2.Market size and forecast
CHAPTER 8:COMPETITIVE LANDSCAPE
8.1.INTRODUCTION
8.1.1.Market player positioning, 2020
8.2.COMPETITIVE DASHBOARD
8.3.TOP WINNING STRATEGIES
CHAPTER 9:COMPANY PROFILE
9.1.ABB GROUP
9.1.1.Company overview
9.1.2.Key executives
9.1.3.Company snapshot
9.1.4.Product portfolio
9.1.5.R&D expenditure
9.1.6.Business performance
9.1.7.Key strategic moves and developments
9.2.CGI
9.2.1.Company overview
9.2.2.Key executives
9.2.3.Company snapshot
9.2.4.Product portfolio
9.2.5.Business performance
9.2.6.Key strategic moves and developments
9.3.INTERNATIONAL BUSINESS MACHINES CORPORATION
9.3.1.Company overview
9.3.2.Key executives
9.3.3.Company snapshot
9.3.4.Product portfolio
9.3.5.R&D expenditure
9.3.6.Business performance
9.3.7.Key strategic moves and developments
9.4.IFS
9.4.1.Company overview
9.4.2.Key executives
9.4.3.Company snapshot
9.4.4.Product portfolio
9.4.5.Business performance
9.4.6.Key strategic moves and developments
9.5.INFOR, INC.
9.5.1.Company overview
9.5.2.Key executives
9.5.3.Company snapshot
9.5.4.Product portfolio
9.5.5.Key strategic moves and developments
9.6.MRI SOFTWARE LLC.
9.6.1.Company overview
9.6.2.Key executives
9.6.3.Company snapshot
9.6.4.Product portfolio
9.6.5.Key strategic moves and developments
9.7.ORACLE CORPORATION
9.7.1.Company overview
9.7.2.Key executives
9.7.3.Company snapshot
9.7.4.Product portfolio
9.7.5.Business performance
9.7.6.Key strategic moves and developments
9.8.RAMCO SYSTEMS LTD.
9.8.1.Company overview
9.8.2.Key executives
9.8.3.Company snapshot
9.8.4.Product portfolio
9.8.5.R&D expenditure
9.8.6.Business performance
9.8.7.Key strategic moves and developments
9.9.SAP SE
9.9.1.Company overview
9.9.2.Key executives
9.9.3.Company snapshot
9.9.4.Product portfolio
9.9.5.R&D expenditure
9.9.6.Business performance
9.9.7.Key strategic moves and developments
9.10.SCHNEIDER ELECTRIC
9.10.1.Company overview
9.10.2.Key executives
9.10.3.Company snapshot
9.10.4.Product portfolio
9.10.5.R&D expenditure
9.10.6.Business performance
9.10.7.Key strategic moves and developments
LIST OF TABLES
TABLE 01.U.S. ENTERPRISE ASSET MANAGEMENT MARKET REVENUE FOR SOFTWARE, 2020–2030 ($MILLION)
TABLE 02.U.S. ENTERPRISE ASSET MANAGEMENT MARKET REVENUE FOR SERVICES, 2020–2030 ($MILLION)
TABLE 03.U.S. ENTERPRISE ASSET MANAGEMENT MARKET REVENUE, BY DEPLOYMENT TYPE, 2020–2030 ($MILLION)
TABLE 04.U.S. ENTERPRISE ASSET MANAGEMENT MARKET REVENUE FOR ON-PREMISE, 2020–2030 ($MILLION)
TABLE 05.U.S. ENTERPRISE ASSET MANAGEMENT MARKET REVENUE FOR CLOUD, 2020–2030 ($MILLION)
TABLE 06.U.S. ENTERPRISE ASSET MANAGEMENT MARKET REVENUE, BY ORGANIZATION SIZE, 2020–2030 ($MILLION)
TABLE 07.U.S. ENTERPRISE ASSET MANAGEMENT MARKET REVENUE FOR LARGE ENTERPRISES, 2020–2030 ($MILLION)
TABLE 08.U.S. ENTERPRISE ASSET MANAGEMENT MARKET REVENUE FOR SMALL & MEDIUM ENTERPRISES, 2020–2030 ($MILLION)
TABLE 09.U.S. ENTERPRISE ASSET MANAGEMENT MARKET REVENUE, BY INDUSTRY VERTICAL, 2020–2030 ($MILLION)
TABLE 10.U.S. ENTERPRISE ASSET MANAGEMENT MARKET REVENUE FOR ENERGY & UTILITIES, 2020–2030 ($MILLION)
TABLE 11.U.S. ENTERPRISE ASSET MANAGEMENT MARKET REVENUE FOR TRANSPORTATION AND LOGISTICS, 2020–2030 ($MILLION)
TABLE 12.U.S. ENTERPRISE ASSET MANAGEMENT MARKET REVENUE FOR GOVERNMENT, 2020–2030 ($MILLION)
TABLE 13.U.S. ENTERPRISE ASSET MANAGEMENT MARKET REVENUE FOR IT AND TELECOMMUNICATIONS, 2020–2030 ($MILLION)
TABLE 14.U.S. ENTERPRISE ASSET MANAGEMENT MARKET REVENUE FOR MANUFACTURING, 2020–2030 ($MILLION)
TABLE 15.U.S. ENTERPRISE ASSET MANAGEMENT MARKET REVENUE FOR HEALTHCARE, 2020–2030 ($MILLION)
TABLE 16.U.S. ENTERPRISE ASSET MANAGEMENT MARKET REVENUE FOR EDUCATION, 2020–2030 ($MILLION)
TABLE 17.U.S. ENTERPRISE ASSET MANAGEMENT MARKET REVENUE FOR OTHERS, 2020–2030 ($MILLION)
TABLE 18.ABB: KEY EXECUTIVES
TABLE 19.ABB: COMPANY SNAPSHOT
TABLE 20.ABB: PRODUCT PORTFOLIO
TABLE 21.ABB: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 22.CGI: KEY EXECUTIVES
TABLE 23.CGI: COMPANY SNAPSHOT
TABLE 24.CGI: PRODUCT PORTFOLIO
TABLE 25.CGI: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 26.IBM: KEY EXECUTIVES
TABLE 27.IBM: COMPANY SNAPSHOT
TABLE 28.IBM: PRODUCT PORTFOLIO
TABLE 29.IFS: KEY EXECUTIVES
TABLE 30.IFS: COMPANY SNAPSHOT
TABLE 31.IFS: PRODUCT PORTFOLIO
TABLE 32.INFOR: KEY EXECUTIVES
TABLE 33.INFOR: COMPANY SNAPSHOT
TABLE 34.INFOR: PRODUCT PORTFOLIO
TABLE 35.INFOR: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 36.MRI SOFTWARE: KEY EXECUTIVES
TABLE 37.MRI SOFTWARE: COMPANY SNAPSHOT
TABLE 38.MRI SOFTWARE: PRODUCT PORTFOLIO
TABLE 39.MRI SOFTWARE: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 40.ORACLE: KEY EXECUTIVES
TABLE 41.ORACLE: COMPANY SNAPSHOT
TABLE 42.ORACLE: PRODUCT PORTFOLIO
TABLE 43.RAMCO SYSTEMS: KEY EXECUTIVES
TABLE 44.RAMCO SYSTEMS: COMPANY SNAPSHOT
TABLE 45.RAMCO SYSTEMS: PRODUCT PORTFOLIO
TABLE 46.RAMCO SYSTEMS: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 47.SAP: KEY EXECUTIVES
TABLE 48.SAP: COMPANY SNAPSHOT
TABLE 49.SAP: PRODUCT PORTFOLIO
TABLE 50.SAP: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 53.SCHNEIDER ELECTRIC: KEY STRATEGIC MOVES AND DEVELOPMENTS
LIST OF FIGURES
FIGURE 01.U.S. ENTERPRISE ASSET MANAGEMENT MARKET SNAPSHOT, BY SEGMENTATION, 2020–2030
FIGURE 02.U.S. ENTERPRISE ASSET MANAGEMENT MARKET: TOP IMPACTING FACTOR
FIGURE 03.TOP INVESTMENT POCKETS
FIGURE 04.MODERATE-TO-HIGH BARGAINING POWER OF SUPPLIERS
FIGURE 05.MODERATE-TO-HIGH BARGAINING POWER OF BUYER
FIGURE 06.MODERATE-TO-HIGH THREAT OF SUBSTITUTES
FIGURE 07.MODERATE THREAT OF NEW ENTRANTS
FIGURE 08.HIGH COMPETITIVE RIVALRY
FIGURE 09.MARKET DYNAMICS: U.S. ENTERPRISE ASSET MANAGEMENT MARKET
FIGURE 10.U.S. ENTERPRISE ASSET MANAGEMENT MARKET, BY COMPONENT, 2020–2030 ($MILLION)
FIGURE 11.U.S. ENTERPRISE ASSET MANAGEMENT MARKET, BY DEPLOYMENT TYPE, 2020–2030 ($MILLION)
FIGURE 12.U.S. ENTERPRISE ASSET MANAGEMENT MARKET, BY ORGANIZATION SIZE, 2020–2030 ($MILLION)
FIGURE 13.U.S. ENTERPRISE ASSET MANAGEMENT MARKET, BY INDUSTRY VERTICAL, 2020–2030 ($MILLION)
FIGURE 14.MARKET PLAYER POSITIONING, 2020
FIGURE 15.COMPETITIVE DASHBOARD
FIGURE 16.COMPETITIVE DASHBOARD
FIGURE 17.COMPETITIVE HEATMAP OF KEY PLAYERS
FIGURE 18.TOP WINNING STRATEGIES, BY YEAR, 2018–2022
FIGURE 19.TOP WINNING STRATEGIES, BY DEVELOPMENT, 2018–2022
FIGURE 20.TOP WINNING STRATEGIES, BY COMPANY, 2018–2022
FIGURE 21.R&D EXPENDITURE, 2019–2021 ($MILLION)
FIGURE 25.CGI: REVENUE, 2019–2021 ($MILLION)
FIGURE 26.CGI: REVENUE SHARE BY REGION, 2021 (%)
FIGURE 27.CGI: REVENUE SHARE BY SEGMENT, 2021 (%)
FIGURE 28.R&D EXPENDITURE, 2019–2021 ($MILLION)
FIGURE 29.IBM: REVENUE, 2019–2021 ($MILLION)
FIGURE 30.IBM: REVENUE BY REGION 2021 ($ MILLION)
FIGURE 31.IBM: REVENUE SHARE BY SEGMENT, 2021 (%)
FIGURE 32.IBM: REVENUE, 2019–2021 ($MILLION)
FIGURE 33.ORACLE: REVENUE, 2019–2021 ($MILLION)
FIGURE 34.ORACLE: REVENUE BY REGION 2021 ($ MILLION)
FIGURE 35.ORACLE: REVENUE SHARE BY SEGMENT, 2021 (%)
FIGURE 36.R&D EXPENDITURE, 2019–2021 ($MILLION)
FIGURE 37.RAMCO SYSTEMS: REVENUE, 2019–2021 ($MILLION)
FIGURE 38.RAMCO SYSTEMS: REVENUE BY REGION 2021 ($ MILLION)
FIGURE 39.RAMCO SYSTEMS: REVENUE SHARE BY SEGMENT, 2021 (%)
FIGURE 40.R&D EXPENDITURE, 2019–2021 ($MILLION)
FIGURE 41.SAP: REVENUE, 2019–2021 ($MILLION)
FIGURE 42.SAP: REVENUE SHARE BY REGION, 2021 (%)
FIGURE 43.SAP: REVENUE SHARE BY SEGMENT, 2021 (%)
FIGURE 44.R&D EXPENDITURE, 2019–2021 ($MILLION)