DUBLIN--(BUSINESS WIRE)--Research and Markets (http://www.researchandmarkets.com/research/sv7bk3/enterprise_asset) has announced the addition of the "Enterprise Asset Management Market by Software Applications by Services - Worldwide Forecasts and Analysis (2014-2019)" report to their offering.
“Enterprise Asset Management Market by Software Applications by Services - Worldwide Forecasts and Analysis (2014-2019)”
The enterprise asset management market is expected to grow from $ 2.49 Billion in 2013 to $ 4.23 Billion in 2019 at an estimated CAGR of 9.6%
From the past few years, the market for enterprise asset management (EAM) has developed and has adopted the latest software applications with the increasing demand among organizations from various industries. Enterprise asset management is a new model that is presently gaining approval in asset centric organizations where repair activities have to be closely synchronized with the additional enterprise extensive functions such as stock and purchasing management. The successful implementation of EAM software applications helps organizations to discover the origin of asset related problems, thereby, reducing the lifecycle time of assets.
The overall enterprise asset management market in this study is defined as the summation of EAM software and services.
North America, Europe and Middle East and Africa have the highest EAM penetration, and the regions such as Asia Pacific and Latin America offer a lot of opportunities for EAM vendors as many organizations are yet to adopt EAM software solutions.
For a well-organized and sustainable enterprise asset management, organizations need to restructure its industry processes by making it visible, and integrating it with other functions. Several organizations have not implemented EAM solutions because of the complication and cost involved in it. Along with this, companies need to support its business goals with the asset strategies by supporting asset management processes that function across various departments such as finance, HR and compliance.
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