Increasing demand to extend the life span of key enterprise assets with the help of advanced technologies is contributing to the growth of the U.S. Enterprise Asset Management Market. Moreover, Enterprise asset management software help business owners or companies with uptime, inventory management as well as strategic planning. In addition, increase in demand for SaaS-based EAM solutions is also driving the U.S. enterprise asset management market growth. However, issues associated with regulatory compliance along with cyber security and concern over data security are hampering the market growth. Furthermore, convergence of technologies such as AI, ML, IoT, and analytics with EAM solutions has created numerous opportunities for market growth.
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The U.S. enterprise asset management market is segmented on the basis of component, deployment type, organization size and industry vertical. By component, it is segmented into solution and service. By deployment type, it is bifurcated into on-premise and cloud. Based on organization size, the market is bifurcated into large enterprise and small & medium enterprises. Based on industry vertical, it is segregated into Energy & Utilities, Transportation and Logistics, Government, IT and Telecommunications, Manufacturing, Healthcare, Education, and others.
By deployment, the on-premise segment dominated the growth in the U.S. Enterprise Asset Management market in 2020, and is expected to maintain its dominance in the upcoming years. On-premise-based solutions are known for better maintenance of servers, and continuous system facilitates the implementation of EAM solutions. In addition, the on-premises deployment mode is considered widely useful in large enterprises, as it involves a significant investment to implement, and organizations need to purchase interconnected servers as well as software to manage the system.
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By Organization Size, the large enterprises segment dominated the growth in the U.S. Enterprise Asset Management Market size in 2020. This is due to large enterprises have hundreds of physical assets that need to be taken care of and maintained regularly. So, EAM solutions are rapidly adopted by large enterprises for maintaining assets. However, small and medium enterprises will register highest growth rate during forecasted period.
Some of the key U.S. Enterprise Asset Management industry players profiled in the report include ABB Group, CGI, International Business Machines Corporation (IBM), IFS (Industrial & Financial Systems), Infor, Inc., MRI Software, LLC, Oracle Corporation, Ramco Systems, SAP SE, and Schneider Electric. This study includes market trends, U.S. Enterprise Asset Management market analysis, and future estimations to determine the imminent investment pockets.
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Key Findings Of The Study
- By Component, in 2020 the Solution segment dominated the U.S. Enterprise Asset Management market size.
- Depending on deployment, the on-premise generated the highest revenue in 2020 of U.S. Enterprise Asset Management market share. However, cloud segment is expected to exhibit significant growth during the forecast period.
- By Organization Size, in 2020, the large enterprises segment dominated U.S. EAM market.
- By Industry vertical, the U.S. Enterprise Asset Management industry was dominated by energy & utilities in 2020.
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