Portland, OR -- (SBWIRE) -- 07/11/2017 -- The optimal lifecycle management solution that manages the assets of a company is termed as Enterprise Asset Management (EAM). Furthermore, the subjects covered by EAM consists of operations, design, and decommissioning of manufacturing plant amongst others. Switching to an enterprise asset management system helps enterprises reduce their maintenance costs. Besides this, emergence of EAM has lowered the production costs, labor costs, boosted maintenance productivity and reduced equipment breakdowns. In simple terms, EAM solutions help business owners or enterprises with uptime, inventory maintenance as well as strategic planning. Moreover, the solution offers maximum visibility and control over important assets that affect business performance, compliance as well as risk.
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There are numerous drivers, restraints and opportunities that are shaping the future of this industry. The growing need for increasing the lifecycle performance of assets indicates that the future of enterprise asset management market is bright. On the other hand, with companies getting more dependent on physical infrastructure, which is capable enough to integrate process as well as information throughout asset lifecycle is highly responsible for driving the market. Advent of cloud deployment model and Big Data integration with enterprise asset management are likely to create business opportunities. However, high cost and lack of awareness has hindered market growth to a greater extent. Regions such as AsiaPacific and Middle East and Africa would provide several opportunities in the enterprise asset management space owing to the rise in adoption rate.
Key Players of Market
Eyeing the great prospects in the market, major brands are investing in research and development activities to maintain a competitive edge. Business strategies such as joint ventures as well as acquisitions and mergers with local companies are enabling the companies to position their products successfully. Several brands are considering proven market entry strategies to explore new markets. Some of the major market players in the enterprise asset management industry include CGI Group Inc., IBM Corporation, Oracle Corporation, ABB Group, SAP SE, Schneider Electric, and more.
KEY BENEFITS FOR STAKEHOLDERS
- The research applies both primary and secondary techniques to bring out the business performance of the key market players
- Key market drivers, restraints as well as opportunities shaping the future of world enterprise asset management market are highlighted in the report
- The study has been prepared considering the recent technology advancements, policy amendments and market news to disclose their impact on the market
- Market status and business performance in regions such as North America, Europe, Asia Pacific, and LAMEA are discussed in the report
- Assessment of upstream and downstream market also forms an important part of the report