Enterprise Asset Management Market: Smart Automation, Digital Platforms & Expansion Outlook

According to IMARC Group's latest research publication, The global enterprise asset management market size reached USD 6.3 Billion in 2024. Looking forward, IMARC Group expects the market to reach USD 15.0 Billion by 2033, exhibiting a growth rate (CAGR) of 9.55% during 2025-2033.

How AI is Reshaping the Future of Enterprise Asset Management Market

• Machine learning algorithms analyze past asset, sensor, and environmental data to predict the failure of equipment. AI-enabled Predictive Maintenance models increase asset efficiency by 40% and reduce asset maintenance costs by 20%.
• IoT sensors combine with artificial intelligence so businesses can make observations of the health, performance, and usage regarding physical assets at multiple locations during real time. Companies using predictive maintenance analytics can reduce unplanned downtime by up to 30% through condition monitoring and automatic alerts.
• AI systems can autonomously create, prioritize, and schedule tasks to maintain per asset conditions, resource availability, and operational objectives. This cuts manual administrative duties by 35%, makes maintenance execution easier to do on time, and optimizes resource use.
• Digital twins use AI to simulate how an asset behaves under different operating conditions and define the optimal maintenance strategy. Organizations with digital twins see improvements such as a 25% equipment life extension and reduced time to identify the root cause of a problem.
• AI reads from manuals, work orders, and inspection reports, then extracts data. Structured form results from unstructured data. Optical character recognition scans and extracts data from asset tags, preventing the need for manual data entry and saving time for compliance tracking.

Enterprise Asset Management Industry Overview:

Enterprise asset management (EAM) is rapidly evolving with the introduction of Industrial AI and cloud-native products to manage physical assets through their entire lifecycle. IFS is the largest EAM vendor with 19.4% share and $550 million revenue, followed by SAP, IBM and others. In addition, mainframe manufacturer IBM brought a new asset lifecycle management capability in Maximo Application Suite 9.1, and ServiceNow its AI Control Tower for the enterprise. Cloud deployments are 62.7% of total segment revenue, as the functionality is designed to give a scalable, remotely accessible and automatically maintained service. Energy and utilities account for the largest industry sector. Manufacturing applications account for 24.29% of revenues.

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Enterprise Asset Management Market Trends & Drivers

• The shift toward predictive maintenance strategies is revolutionizing asset management across industries. Organizations are moving beyond reactive and preventive approaches by leveraging AI algorithms and IoT sensors that continuously monitor equipment health and predict potential failures days or weeks in advance with over 85% accuracy. Deloitte research shows enterprises adopting predictive maintenance achieve 40% boost in asset efficiency and 20% decline in repair expenditures. Wireless vibration, thermal, and power sensors stream real-time performance data—including temperature, pressure, and runtime metrics—into cloud analytics platforms that flag anomalies instantly.
• Cloud-based EAM adoption is accelerating as organizations prioritize flexibility, scalability, and remote asset management capabilities. Companies are transitioning from on-premise systems to cloud platforms that enable real-time data access from any location, supporting mobile field workforces and geographically dispersed operations. Cloud solutions reduce IT infrastructure burden by automating updates, backups, and security patches while facilitating seamless integration with other enterprise systems. The subscription-based pricing model democratizes access for small and medium businesses, eliminating heavy upfront capital expenditure. Post-pandemic momentum continues strong—PwC reports businesses transitioning to cloud-based EAM witnessed 25% increase in asset lifecycle efficiency.
• Regulatory compliance and risk management requirements are driving EAM adoption across asset-intensive industries. Organizations in utilities, transportation, healthcare, and oil and gas face stringent regulations demanding documented maintenance activities, inspection schedules, certifications, and calibration records accessible for audits. EAM platforms provide centralized systems that automatically track compliance data, generate real-time reports for regulatory inspections, and ensure accountability across operations. Healthcare institutions require real-time tracking of high-value medical devices to meet strict compliance audits, spurring 15.9% growth for healthcare EAM solutions. Smart city projects in India and UAE integrated EAM systems into 360 new public utilities, while mining companies across South America invested in ruggedized platforms supporting over 400 operations.

Leading Companies Operating in the Global Enterprise Asset Management Industry:

• Aptean Inc.
• Asset Infinity
• Asset Panda
• AVEVA Group plc (Schneider Electric SE)
• IFS AB
• International Business Machines Corporation
• IPS Intelligent Process Solutions GmbH
• SAP SE
• UpKeep Technologies Inc.

Enterprise Asset Management Market Report Segmentation:

• By Component:
• Solution
• Services

Solution represents the largest segment, encompassing comprehensive software applications for asset tracking, maintenance planning, and performance optimization throughout the entire asset lifecycle.

By Deployment:

• On-premises
• Cloud-based

On-premises holds the largest share, signifying substantial presence of organizations hosting EAM solutions within their infrastructure for direct control, enhanced security, and customized configurations.

By Organization Size:

• Small and Medium-sized Enterprises
• Large Enterprises

Large enterprises represent the leading segment, harnessing comprehensive EAM solutions to manage extensive and complex asset portfolios with advanced features like predictive maintenance and sophisticated analytics.

By Application:

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

Asset lifecycle management stands as the primary application, involving holistic management of assets throughout their entire journey from planning and acquisition through utilization, maintenance, and eventual disposal.

By Industry Vertical:

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

Energy and utilities represent the leading segment as organizations rely heavily on EAM solutions to optimize performance and maintenance of critical assets from power plants to utility infrastructure.

Regional Insights:

• North America (United States, Canada)
• Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
• Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa

North America leads the market, accounting for the largest share due to its technologically advanced landscape, early adoption of EAM solutions, and stringent regulatory compliance requirements.

Recent News and Developments in Enterprise Asset Management Market

• July 2025: Xensam, a global leader in AI-driven Software Asset Management technology, expanded operations to meet surging customer demand for its SaaS-native platform. The company broadened its London footprint and launched a new office in Bucharest, enhancing its position as Europe's fastest-growing SAM provider.
• July 2025: MaintainX, the leading maintenance and asset management platform, announced 150 million dollars raised in Series D funding from Bessemer Venture Partners, Bain Capital Ventures, and others. The funding achieves 2.5 billion dollars valuation, enabling enhanced AI, machine health monitoring features, and expanded enterprise asset management functionalities.
• June 2025: Verosoft unveiled TAG Mobi EAM, a mobile-centric platform designed to transform how businesses in manufacturing, energy, and facility management optimize maintenance operations, improve workforce efficiency, and increase productivity through advanced mobile capabilities.
• June 2025: IBM enhanced its Maximo Application Suite 9.1, introducing significant upgrades in asset lifecycle management capabilities. Hexagon's Asset Lifecycle Intelligence division announced strategic partnership with Prevas to expand digital asset management across Denmark, Finland, Norway, and Sweden.
• March 2025: Baker Hughes obtained an enterprise agreement with Sinochem to implement its Cordant Asset Health at 10 chemical production facilities in China, marking the initial advanced enterprise-level digital implementation in the region and highlighting expansion in chemical and industrial sectors.

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