(PRWEB) August 05, 2014
The report "Enterprise Asset Management Market by Software Applications (Linear Assets, Non-Linear Assets, Field Service Management, Assets MRO) by Services (Implementation, Managed Services, Training & Support) - Worldwide Forecasts and Analysis (2014-2019)" by MarketsandMarkets defines and segments the global EAM market into various sub-segments with an in-depth analysis and forecasting of market sizes. The report also identifies the factors driving the market, various restraints and opportunities impacting it along with the adoption trends.
Browse 75 market data tables and 17 figures spread through 170 Pages and in-depth TOC on "Enterprise Asset Management Market."
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MarketsandMarkets forecasts the global enterprise asset management (EAM) market to grow from $2.48 Billion in 2013 to $4.23 Billion in 2019. North America is expected to be the largest market in terms of market size, while Europe and Middle East and Africa (MEA) are expected to experience an increase in market traction during the forecasted period.
MarketsandMarkets broadly segments the global EAM market by regions as North America (NA), Asia Pacific (APAC), Europe (EU), Middle East & Africa (MEA) and Latin America (LA); by software applications as linear assets, non-linear assets, field service management and assets MRO; by services as implementation, managed services and training and support; by user type as SMB’s and large enterprise; by industry verticals such as government and utilities, oil and gas, manufacturing, healthcare, transportation, and others.
EAM is predominantly one of the precise methods to manage and optimize the functioning of the organization’s assets. The accountability for these expansive assets and the requirement for timely update, has led to the rapid adoption of EAM solutions. These solutions have been additionally implemented to accurately determine the total lifespan and functioning channel of the organization specific assets. EAM solutions not only optimize the overall inventory cost for the organization but also enable the simplicity in work for the workforce.
The administration of aging infrastructure, facilitation in asset tracking, and Improved Return on Assets (ROA) are currently acting as drivers to the EAM market. Further, the EAM solutions are efficient enough to enhance the productivity, and responsiveness of the asset through integration of analytic methods. EAM solutions can be easily deployed by organizations for all types of its assets, namely linear and non-linear. Presently, the integration of EAM with ERP systems is growing in demand especially in the regions of North America and Middle East because of the cost efficiency involved, and the consolidation and support provided to various business functionalities.
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EAM solutions have been mostly acknowledged by many organizations present in various industry
verticals, but are still a challenge for several Small and Medium Businesses (SMBs) where cost and asset specific management workforce are a major constraint here. Further, the more complex specifications desired by the organization for asset management, and its related statistical analysis of the equipments, intensifies the expenses in the organization. The EAM market is consolidated with numerous big players which have made it difficult for small and new players to venture into this market.
EAM solutions offer organizations with optimum and reliable techniques to boost the business efficiency, and also manage its businesses pertaining to the assets. These solutions continuously supervise the working of assets, provide updates on the equipment status, highlight the warranty and guarantee periods, and give the complete picture of the lifecycle of the asset. Thus, this maximizes the Return on Investment (ROI) of the asset for the organization. The latest EAM solutions are being offered as complete packaged solutions by the vendors, which has led to higher adoption by the organizations. The integration of ERP with EAM, the emergence of asset tracking with Geographic Information System (GIS), and the modified performance through preventive maintenance has further heightened the growth in the EAM market. Moreover, the potential to transform business processes through effective EAM has also provided a boost for this market leading to increased productivity and profitability.
This report analyzes the way EAM will help organizations to maintain business operations efficiently with the use of these solutions. It also analyzes the rate of growth and implementation of these solutions across various industry verticals and regions.
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