Enterprise Asset Management Market Report 2025

The enterprise asset management market size has grown strongly in recent years. It will grow from $6.71 billion in 2024 to $7.33 billion in 2025 at a compound annual growth rate (CAGR) of 9.2%. The growth in the historic period can be attributed to regulatory compliance, aging infrastructure, cost optimization, preventive maintenance, integration with ERP systems.

The enterprise asset management market size is expected to see rapid growth in the next few years. It will grow to $12.07 billion in 2029 at a compound annual growth rate (CAGR) of 13.3%. The growth in the forecast period can be attributed to mobile exam solutions, focus on sustainability, cybersecurity measures, exam for industry-specific needs. Major trends in the forecast period include digital twin technology, technological advancements, IoT integration for condition monitoring, cloud-based exam solutions.

The market is experiencing growth, primarily propelled by the increasing demand for Software as a Service (SaaS)-based Enterprise Asset Management (EAM) solutions. SaaS-based EAM services involve delivering software applications through a cloud-based subscription model. These solutions have become essential in the technology landscape, offering features such as dashboards, mobile apps, asset tracking, performance management, forecasting, and regulatory compliance. Customers are favoring SaaS-based solutions over traditional on-premises alternatives due to factors such as quicker time-to-benefit, cost-effectiveness, scalability, integration capabilities, and more. Notably, a 2022 study by DevSquad revealed that 73% of businesses are transitioning all systems to SaaS, with a planned 44% increase in spending compared to the previous year.

The anticipated surge in the adoption of IoT devices is expected to drive the growth of the enterprise asset management market in the future. IoT, or the Internet of Things, involves a network of interconnected physical devices, vehicles, appliances, and other objects equipped with sensors, software, and network connectivity to collect and exchange data. Within enterprise asset management, IoT devices play a crucial role in remote monitoring and diagnostics, reducing the reliance on manual inspections and troubleshooting. For instance, a report by Dataprot, a cybersecurity solutions company based in Serbia, indicated that in May 2023, there were over ten billion active IoT devices in use, with an expected increase to 25.4 billion by 2030. Consequently, the rising adoption of IoT devices is a significant driver for the growth of the enterprise asset management market.

The enterprise asset management market is significantly influenced by technological advancements. Leading companies in this market are directing their efforts towards expanding their developmental initiatives in emerging technologies. An example of this is Aptean, which, in March 2022, introduced cloud-based EAM solutions, including a computerized maintenance management system tailored for manufacturing customers. This new launch is designed to assist small and medium manufacturers in meeting their asset management needs and demands. The focus on incorporating advanced technologies underscores the dynamic nature of the enterprise asset management market and the commitment of key players to stay at the forefront of innovation.

Major players in the enterprise asset management market are concentrating on cloud-based technologies to boost operational efficiency, enhance asset visibility, and streamline maintenance processes. Cloud-based technologies involve computing services and applications hosted on remote servers and accessed via the internet, as opposed to being installed locally on individual devices. For example, in March 2022, Aptean, a U.S.-based software firm, introduced Aptean EAM, a cloud-based enterprise asset management (EAM) solution. Aptean EAM is crafted to assist organizations in optimizing their asset performance and maintenance strategies by offering real-time insights and data analytics. This solution allows users to monitor and manage assets throughout their lifecycle, automate maintenance workflows, and ensure compliance with industry standards.

In November 2023, Trane Technologies, an Ireland-based climate solutions provider, acquired Nuvolo for an undisclosed sum. This acquisition is intended to improve Trane Technologies' digital services portfolio and bolster its capabilities in integrated workplace management solutions. Nuvolo is a U.S.-based provider of Enterprise Asset Management (EAM) solutions.

Major companies operating in the enterprise asset management market include International Business Machines Corporation, Oracle Corporation, Schneider Electric SE, Honeywell International Inc., SAP SE, Asea Brown Boveri Ltd., Consultants to Government and Industry Incorporated, Rockwell Automation Inc., Infor Inc., AVEVA Group plc, Bentley Systems Incorporated, IFS AB, Accruent LLC, Ramco Systems Limited, Fingent Corporation, MRI Software LLC, Ultimo Software Solutions BV, AssetWorks LLC, Rosmiman Software Corporation, Mainsaver Software, Maintenance Connection, UpKeep Technologies Inc., MPulse Software Inc., CHEQROOM, eWorkOrders, EZOfficeInventory, MVP Plant, Real Asset Management plc, MicroMain Corporation, AMTdirect Inc., ManagerPlus, Nuvolo, Limble CMMS.

North America was the largest region in the enterprise asset management market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the enterprise asset management market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the enterprise asset management market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Enterprise asset management (EAM) involves software, systems, and services used to control and maintain assets and equipment. EAM is a transactional workflow system designed to manage capital asset management by overseeing asset data and work processes.

Enterprise asset management encompasses two main types: on-premises and cloud-based solutions. On-premises software is installed locally on your company's PCs and servers. Its applications extend to asset lifecycle management, inventory management, work order management, labor management, and various sectors such as energy and utilities, transportation and logistics, government and public sector, IT and telecommunications, manufacturing, healthcare and life sciences, education, and other verticals.

The enterprise asset management market research report is one of a series of new reports that provides enterprise asset management market statistics, including enterprise asset management industry global market size, regional shares, competitors with a enterprise asset management market share, detailed enterprise asset management market segments, market trends and opportunities, and any further data you may need to thrive in the enterprise asset management industry. This enterprise asset management market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The enterprise asset management market includes revenues earned by entities by providing services such as construction industry assets, healthcare industry assets, automotive manufacturing industry assets, hotel industry assets. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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