Add 2 More Reports For 20% off

Report Overview

The United States enterprise asset management market value reached approximately USD 2.25 billion in 2023. The market is projected to grow at a CAGR of 11.7% between 2024 and 2032, reaching a value of around USD 6.08 billion by 2032.

2023

Base Year

2018-2023

Historical Year

2024-2032

Forecast Year

United States Enterprise Asset Management Market Growth

Enterprise asset management (EAM) is a strategic approach that involves the integration of systems, processes, and software to oversee and manage physical assets and equipment. Its purpose is to strategically plan, enhance, carry out, and monitor maintenance activities essential for the entire lifespan of each asset. These assets can include equipment, machinery, infrastructure, facilities, vehicles, and any other tangible assets that play a role in the organisation's operations.

The demand of the United States enterprise asset management market is being fuelled by a growing emphasis on integrating EAM with other enterprise systems such as Enterprise Resource Planning (ERP) and Computerized Maintenance Management Systems (CMMS). This integration is expected to boost demand for EAM by streamlining processes, improving data accuracy, and offering a comprehensive overview of organizational operations.

United States Enterprise Asset Management Market Analysis

One of the significant United States enterprise asset management market trends and dynamics involves the integration of the Internet of Things (IoT) and predictive analytics. This entails the installation of IoT sensors on assets to gather immediate information of their state and performance. Subsequently, this data undergoes thorough analysis using advanced analytics and machine learning algorithms to forecast when maintenance will be necessary. This capability enables the implementation of proactive and predictive maintenance approaches.

The increasing shift towards cloud-based EAM solutions is one of the key factors aiding the United States enterprise asset management market growth. Cloud-based EAM offers benefits like scalability, flexibility, and accessibility from anywhere with an internet connection. This trend is driven by the need for remote access to asset information and the desire to reduce IT infrastructure costs.

United States Enterprise Asset Management Industry Outlook

In 2023, the United States small business sector remains a cornerstone of the economy, comprising 33.3 million small businesses, which account for 99.9% of all U.S. businesses, according to the U.S. Small Business Administration. These small businesses employ 61.6 million people, representing 45.9% of the total U.S. workforce. The distribution of small business employment differs across states, with Montana, Wyoming, and South Dakota seeing the highest percentages, often surpassing 65%. This significant small business employment contributes to the revenue of the United States enterprise asset management industry revenue, as these businesses use EAM systems to oversee and manage infrastructure such as power grids and pipelines, thereby ensuring reliable service and adherence to regulatory standards.

Between March 2021 and March 2022, the U.S. saw a dynamic shift in business establishments. During this period, 1.4 million establishments were launched, while 917,825 closed, resulting in a net increase of 447,519 establishments. Small businesses played a significant role in this growth, contributing 1.2 million openings but also accounting for 833,979 closings. This net increase in small business establishments is indicative of the resilience and adaptability of the sector, despite economic uncertainties.

Employment trends during this period further underscore the critical role of small businesses in the U.S. economy. The opening and expansion of U.S. establishments generated 17.9 million new jobs, while the closure and contraction of establishments resulted in the loss of 11.0 million jobs, yielding a net gain of 7.0 million jobs. Remarkably, small businesses were responsible for 70% of this net job creation, adding 4.9 million jobs. 

The net change in both establishments and employment highlights a positive trend in the small business landscape. The U.S. continues to foster an environment where entrepreneurship thrives, leading to a consistent increase in business formations. This trend is further supported by the relatively higher survival rates of small businesses compared to larger firms, as small businesses are more agile and better equipped to navigate economic downturns. This increasing trend drives the United States asset management market revenue.

Integration of AI and IoT enhances asset tracking and predictive maintenance.

  • Significant funding from both private and public sectors supports United States asset management market growth.
  • Established systems and networks facilitate efficient asset management across industries.

High costs and complexity in integrating EAM systems can be a barrier for smaller businesses.

  • Increasing cyber threats pose risks to asset data integrity.
  • Lack of skilled professionals limits the effective deployment and utilization of advanced EAM solutions.

Growing adoption in emerging sectors and industries offers new growth opportunities for the United States asset management market.

  • Rising demand for eco-friendly practices can drive innovation in asset management.
  • Increasing shift to cloud-based platforms provides scalable and cost-effective EAM solutions.

Economic downturns can impact investment in EAM systems.

  • Evolving regulations may require constant system updates and compliance adjustments.
  • Rapid technological changes can lead to obsolescence of current systems.

Key Players in the United States Enterprise Asset Management Market and their Key Initiatives

IBM Corporation

  • Expanded its Maximo EAM platform, which is a cornerstone of its offerings in the EAM market. 
  • Integrated AI and machine learning capabilities into its EAM solutions. 

Oracle Corporation

  • Invested in cloud technology, offering Oracle Cloud EAM to meet the growing demand of the United States asset management market. 
  • Developed tailored EAM solutions for various industries, including manufacturing, and utilities.

Hexagon AB

  • Acquired companies with specialised software solutions.
  • Invested in advanced data analytics and machine learning capabilities. 

SAP SE

  • Promoted its cloud-based EAM solutions, such as SAP S/4HANA Asset Management to capture the United States asset management market opportunities.
  • Expanded its ecosystem by forming strategic partnerships with technology and service providers. 

United States Enterprise Asset Management Industry Segmentation

“United States Enterprise Asset Management Market Report and Forecast 2024-2032” offers a detailed analysis of the market based on the following segments:

Market Breakup by Component

  • Solution
  • Services

Market Breakup by Deployment Mode 

  • On-Premise
  • Cloud

Market Breakup by Organisation Size 

  • Small and Medium Enterprises
  • Large Enterprises

Market Breakup by Application 

  • Asset Lifecycle Management
  • Inventory Management
  • Work Order Management
  • Labour Management
  • Predictive Maintenance
  • Others

Market Breakup by End Use 

  • Transportation and Logistics
  • Energy and Utilities
  • Government
  • IT and Telecom
  • Education
  • Manufacturing
  • Healthcare
  • Others

Market Breakup by Region 

  • New England
  • Mideast
  • Great Lakes
  • Plains
  • Southeast
  • Southwest
  • Rocky Mountain
  • Far West

United States Enterprise Asset Management Market Share

The rising utilisation of enterprise asset management by the US manufacturing sector is likely to enhance the United States enterprise asset management market demand in the coming years. In manufacturing, EAM refers to the use of specialised software and systems to efficiently manage and maintain physical assets, such as equipment, machinery, facilities, and other infrastructure, throughout their entire lifecycle.

Manufacturers are constantly seeking ways to improve cost-efficiency of various operations. EAM helps in optimising maintenance schedules, reducing unplanned downtime, and minimising unnecessary expenditures on asset up.

Leading Companies in the United States Enterprise Asset Management Market

The companies provide a diverse range of products and solutions, including smart apps, metrology solutions, manufacturing solutions, and geospatial software.

  • IBM Corporation 
  • Oracle Corporation 
  • Hexagon AB 
  • SAP SE 
  • Schneider Electric SE (AVEVA) 
  • IFS World Operations AB 
  • Ramco Systems Ltd. 
  • MRI SOFTWARE LLC 
  • CGI Inc. 
  • Mapcon Technologies, Inc.

*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*

Looking for specific insights?

Get in touch with us for a customized solution tailored to your unique requirements and save upto 35%!

Key Questions Answered in the Report

In 2023, the market reached an approximate value of USD 2.25 billion.

The market is projected to grow at a CAGR of 11.7% between 2024 and 2032.

The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach a value of around USD 6.08 billion by 2032.

The market is driven by the increasing penetration of Internet of Things (IoT) and predictive analytics in asset management solutions and the diverse applications of EAM.

The major market trends include growing demand for integration of EAM with other enterprise systems and the rising implementation of cloud-based EAM solutions.

The market is broken down into New England, Mideast, Great Lakes, Plains, Southeast, Southwest, Rocky Mountain, and Far West.

The different end-uses are transportation and logistics, energy and utilities, government, IT and telecom, education, manufacturing, and healthcare, among others.

The competitive landscape consists of IBM Corporation, Oracle Corporation, Hexagon AB, SAP SE, Schneider Electric SE (AVEVA), IFS World Operations AB, Ramco Systems Ltd., MRI SOFTWARE LLC, CGI Inc., and Mapcon Technologies, Inc., among others.

Based on components, the market is divided into solutions and services.

The market is divided into transportation and logistics, energy and utilities, government, IT and telecom, education, manufacturing, healthcare, and others.

Report Summary

Explore our key highlights of the report and gain a concise overview of key findings, trends, and actionable insights that will empower your strategic decisions.

Key Highlights of the Report

Please note that the figures mentioned in the description serve as estimates and may vary from the actual figures presented in the final report.

REPORT FEATURES DETAILS
Base Year 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Scope of the Report

Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:

  • Component
  • Deployment Mode
  • Organisation Size
  • Application
  • End Use
  • Region
Breakup by Component
  • Solution
  • Services
Breakup by Deployment Mode
  • On-Premise
  • Cloud
Breakup by Organisation Size
  • Small and Medium Enterprises
  • Large Enterprises
Breakup by Application
  • Asset Lifecycle Management
  • Inventory Management
  • Work Order Management
  • Labour Management
  • Predictive Maintenance
  • Others
Breakup by End Use
  • Transportation and Logistics
  • Energy and Utilities
  • Government
  • IT and Telecom
  • Education
  • Manufacturing
  • Healthcare
  • Others
Breakup by Region
  • New England
  • Mideast
  • Great Lakes
  • Plains
  • Southeast
  • Southwest
  • Rocky Mountain
  • Far West
Market Dynamics
  • SWOT Analysis
  • Porter's Five Forces Analysis
  • Key Indicators for Demand
  • Key Indicators for Price
Competitive Landscape
  • Market Structure
  • Company Profiles
    • Company Overview
    • Product Portfolio
    • Demographic Reach and Achievements
    • Certifications
Companies Covered
  • IBM Corporation
  • Oracle Corporation
  • Hexagon AB
  • SAP SE
  • Schneider Electric SE (AVEVA)
  • IFS World Operations AB
  • Ramco Systems Ltd.
  • MRI SOFTWARE LLC
  • CGI Inc.
  • Mapcon Technologies, Inc.
  • Others

Purchase Full Report

Datasheet

 

USD 2,199

USD 1,999

tax inclusive*

  • Selected Sections, One User
  • Printing Not Allowed
  • Email Delivery in PDF
  • Free Limited Customisation
  • Post Sales Analyst Support
  • 50% Discount on Next Update

Single User License

One User

USD 3,299

USD 2,999

tax inclusive*

  • All Sections, One User
  • One Print Allowed
  • Email Delivery in PDF
  • Free Limited Customisation
  • Post Sales Analyst Support
  • 50% Discount on Next Update

Five User License

Five Users

USD 4,399

USD 3,999

tax inclusive*

  • All Sections, Five Users
  • Five Prints Allowed
  • Email Delivery in PDF
  • Free Limited Customisation
  • Post Sales Analyst Support
  • 50% Discount on Next Update

Corporate License

Unlimited Users

USD 5,499

USD 4,999

tax inclusive*

  • All Sections, Unlimited Users
  • Unlimited Prints Allowed
  • Email Delivery in PDF + Excel
  • Free Limited Customisation
  • Post Sales Analyst Support
  • 50% Discount on Next Update

How To Order

Our step-by-step guide will help you select, purchase, and access your reports swiftly, ensuring you get the information that drives your decisions, right when you need it.

Select License Type

Choose the right license for your needs and access rights.

Click on ‘Buy Now’

Add the report to your cart with one click and proceed to register.

Select Mode of Payment

Choose a payment option for a secure checkout. You will be redirected accordingly.

Strategic Solutions for Informed Decision-Making

Connect For More Information

Our expert team of analysts will offer full support and resolve any queries regarding the report, before and after the purchase.

Our expert team of analysts will offer full support and resolve any queries regarding the report, before and after the purchase.

We employ meticulous research methods, blending advanced analytics and expert insights to deliver accurate, actionable industry intelligence, staying ahead of competitors.

Our skilled analysts offer unparalleled competitive advantage with detailed insights on current and emerging markets, ensuring your strategic edge.

We offer an in-depth yet simplified presentation of industry insights and analysis to meet your specific requirements effectively.

We’re here to help answer any questions about our products and services.

Contact us

Our Offices


Australia

63 Fiona Drive, Tamworth, NSW

+61 448 06 17 27

India

C130 Sector 2 Noida, Uttar Pradesh 201301

+91-858-608-1494

Philippines

40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City,1226.

+63 287899028, +63 967 048 3306

United Kingdom

6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London

+44-753-713-2163

United States (Head Office)

30 North Gould Street, Sheridan, WY 82801

+1-415-325-5166

Vietnam

193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City

+84865399124

30 North Gould Street, Sheridan, WY 82801

+1-415-325-5166

63 Fiona Drive, Tamworth, NSW

+61 448 06 17 27

C130 Sector 2 Noida, Uttar Pradesh 201301

+91-858-608-1494

40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.

+63 287899028, +63 967 048 3306

6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London

+44-753-713-2163

193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City

+84865399124