Several organizations are switching to digital records and implementing new technologies such as cloud computing, IoT, and 5G. Organizations aim to maximize the efficiency and cost-effectiveness of their assets throughout their lifespan. Enterprise asset management (EAM) market systems ensure that asset-intensive enterprises get a holistic view of assets across all locations, facilities, business units, or departments. This system comes with various benefits, including speedy maintenance routines, easier contract management, better organization, simplified asset tracking, and much more. EAM solutions & services serve every facet of an organization that has to do with asset management.
It incorporates functions like investment strategies, portfolio planning, design & construction, maintenance, rehabilitation, replacement, and assets disposal. Besides, it helps eliminate the need for costly emergency repairs, increasing asset lifecycle and uptime through predictive maintenance, condition tracking, and preventative upkeep. Several organizations invest heavily to reap profits in highly dynamic and competitive market environments.
Enterprise asset management (EAM) Market is expected to reach $8.6 billion, at a CAGR of 9.5% during the forecast period of 2020 to 2027.
Top 10 Companies in Enterprise Asset Management Market
IBM Corporation functions through five key segments: Cognitive Solutions, Technology Services & Cloud Platforms, Global Business Services, Systems, and Global Financing. The company has a diverse and vast portfolio of products and services based on technologies, such as artificial intelligence, IoT, cloud computing, security, and more. It offers EAM solutions such as IBM TRIRIGA, IBM Engineering Lifecycle Management, IBM Production Optimization, IBM Worker Insights, and many more.
The company offers solutions for its clients to transform their business to engage with clients and employees effectively. The company has one of the largest workforces in the world.
Sage Group plc
Sage Group plc is a global market leader for technology that helps small and medium businesses to manage finances, operations, and people. The company offers cloud product that includes Sage Accounting, Sage Intacct, Sage People, Sage Intelligence, Sage CRM, Sage 200cloud, Sage X3, and Cloud connected solutions. In 2017, Sage Group plc was considered the UK’s second-largest technology company and the world’s third-largest supplier of enterprise resource planning software with the largest supplier to small businesses.
The company has around 6.1 million customers worldwide and has its strong geographical presence in Northern Europe, Central Europe, France, Iberia, Africa, and the Middle East, Asia, and Latin America. The company’s subsidiaries include Sage Intacct (U.S.), OCRex Ltd. (Dublin), among others.
SAP SE is a market leader in enterprise application software, providing machine learning, internet of things (IoT), and advanced analytics technologies, turning customer businesses into intelligent enterprises. SAP provides an integrated suite of applications, intelligent technologies, and a digital platform for retailers to pursue innovative business models and deliver relevant and personalized customer experiences. SAP offers many applications and platforms such as SAP Intelligent Asset Management software, SAP Asset Strategy and Performance Management, SAP Asset Intelligence Network, SAP and Predictive Maintenance and Service. This provides insights into operational retail data and provides users with contextual, real-time information using a simple user interface.
With its subsidiaries and a strong distribution network, the company has its presence in various regions such as North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. The major subsidiaries of SAP are SuccesFactors (U.S.), Qualtrics (U.S.), SAP Concur (U.S.), and more.
Infor, Inc. is a global leader in business cloud software products for companies in industry specific markets. The company is acquired by Koch Industries, an operator of a diverse set of businesses and industries. Infor offers enterprise software for CRM, ERP, financial management, performance management, and supply chain management. The company offers enterprise resource planning products and enterprise asset management products to monitor and manage the deployment, performance, and maintenance of company assets. It also provides customers with financial and physical controls for energy consumption and asset and operating infrastructure.
The company has a global reach that extends to more than 170 countries with 140 offices and has its strong geographical presence in North America, Asia-Pacific, and Europe. The company’s subsidiaries include GT Nexus (U.S.), Lawson Software (U.S.), and many others.
Maintenance Connection provides facility maintenance and asset management software to organizations worldwide. The company is acquired by Accruent (U.S.), the world’s leading provider of intelligent solutions for built environments. Maintenance Connection helps organizations navigate the digital maintenance management transformation. It offers a scalable enterprise asset management platform designed to help maintenance professionals gain insight into their asset lifecycle. Maintenance Connection is specialized in EAM, preventive maintenance software, work order tracking, and facility management. It also helps maintenance teams manage work orders, predict asset maintenance, manage enterprise assets, organize and execute preventive maintenance.
With its subsidiaries and a strong distribution network, the company has its presence in various regions such as North America, Europe, Asia- Pacific, Latin America, and the Middle East & Africa. As of 2019, the company had a headcount of over 200 employees worldwide.
A report into the projected growth of the current Enterprise Asset Management Market by Meticulous Research® has produced some incredible forecasts for the industry. By 2027, it’s expected to have grown at a CAGR of 9.5%, reaching over $8.6 billion.
Oracle Corporation develops and builds tools for database management and systems of middle-tier software, enterprise resource planning (ERP) software, customer relationship management (CRM) software, and supply chain management (SCM) software. The company offers an integrated suite of Oracle Retail Cloud services with embedded machine learning and AI technologies.
With its subsidiaries and a strong distribution network, the company has its presence in North America, Europe, Asia-Pacific, and the Middle East & Africa. The major subsidiaries of the company include NetSuite (U.S.), Taleo (U.S.), Dyn (U.S.), Responsys (U.S.), Textura Corporation (U.S.), and others.
IFS AB is one of the key enablers for digitalizing core operations while contributing to more efficient use of resources and assets across its customers’ value chain. The company develops and delivers enterprise software for customers who manufacture and distribute goods, build and maintain assets and manage service-focused operations. It offers one of the most advanced and comprehensive solutions for MRO operations of Field Service Management (FSM) software, Enterprise Resource Planning (ERP), and Enterprise Asset Management (EAM) software solutions.
IFS AB offers comprehensive functionality to support the entire asset lifecycle, planning & designing an asset, operating & maintaining it over its product lifecycle, and maximizing value over the asset lifecycle. With its subsidiaries and strong distribution network, the company has its presence across North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. Some of the subsidiaries of IFS AB are WorkWave LLC (U.S.), IFS North America, Inc. (U.S.), and IFS UK Ltd (U.K.).
UpKeep Maintenance Management
UpKeep Maintenance Management, commonly referred to as Upkeep, is the leading group collaboration and maintenance application for facility management teams. UpKeep is a platform that provides technicians and maintenance workers with a computerized maintenance management system. The company offers core maintenance functionality, such as asset, inventory, work order management, and preventive maintenance, to create service schedules. UpKeep offers services on a monthly subscription basis that includes support via phone, email, and through an online knowledge base. With its subsidiaries and strong distribution network, the company has its presence across North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.
Ultimo Software Solutions
Ultimo Software Solutions is a leader in Enterprise Asset Management and CMMS software. It offers enterprise asset management software that manages the vital signs related to assets. The company also offers IT Service Management, EHS, and Facility Management solutions, providing a single platform to aid all supporting processes. Ultimo provides flexible Enterprise Asset Management (EAM) Cloud platform for all types of assets; scalable and easy to use on any device that maximizes asset performance and ensures a safe working environment. With its subsidiaries and a strong distribution network, the company has its presence in various regions such as North America, Europe, Asia- Pacific, Latin America, and the Middle East & Africa. Ultimo’s software solutions are used by more than 1,500 companies in the Netherlands, Belgium, and Germany.
eMaint, a Fluke company, offers software platform solutions for managing work orders, PM schedules, predicting failures, eliminating downtime, and improving reliability and parts inventory. eMaint designs, develops, builds, deploys computerized maintenance management systems and enterprise asset management software for businesses. The company provides asset management solutions in multiple markets, including food processing, healthcare, facilities, fleet, services, manufacturing, and more. Besides, it helps organizations better manage, monitor, control maintenance operations, resources, equipment, and compliance.
With its subsidiaries and strong distribution network, the company has its presence across North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. As of 2020, the company has a headcount of over 1,000 employees worldwide.
Popular Mentions: ABB Ltd., Emaint (Fluke Corporation), Aptean, CGI, Inc., IPS, AssetWorks LLC, and SSG Insight
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