Enterprise Asset Management Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2021-2031

The Global Enterprise Asset Management Market is projected to expand from USD 6.22 Billion in 2025 to USD 11.21 Billion by 2031, reflecting a CAGR of 10.32%. Enterprise Asset Management (EAM) involves software and services designed to maintain, control, and optimize physical assets throughout their entire lifecycle, from acquisition to decommissioning. This market is primarily driven by the critical business necessity to maximize return on assets and minimize unplanned downtime in capital-intensive sectors like manufacturing and utilities. These operational requirements foster a sustained demand for solutions that improve reliability, guarantee regulatory compliance, and extend equipment longevity, remaining distinct from the influence of fleeting technological trends.

However, a major obstacle impeding market growth is the complexity of integrating modern EAM solutions with aging industrial infrastructure. Many organizations rely on legacy systems that lack the connectivity needed for advanced data analytics, thereby complicating the deployment of digital strategies. As noted by the Manufacturing Leadership Council in 2025, 49% of manufacturers identified outdated legacy equipment as their primary challenge in modernizing operations. This technical disparity forces enterprises to bear significant costs for retrofitting or replacement, consequently slowing the widespread adoption of comprehensive asset management frameworks.

Market Drivers

The integration of Artificial Intelligence (AI) and the Internet of Things (IoT) for predictive maintenance is fundamentally transforming the market by shifting operations from reactive repairs to proactive asset strategies. By leveraging real-time data from IoT sensors, modern EAM systems can detect performance anomalies and forecast equipment failures before they happen, significantly optimizing maintenance schedules. This technological convergence enables organizations to prolong the useful life of machinery while reducing the frequency of expensive emergency interventions. According to Rockwell Automation’s '9th Annual State of Smart Manufacturing Report' from March 2024, 85% of manufacturers have already invested or intend to invest in AI and machine learning to address these operational needs.

A complementary driver is the rapid migration to scalable cloud-based EAM platforms, which provide the necessary infrastructure to handle the high-volume data generated by modern industrial assets. Cloud solutions facilitate remote accessibility and real-time collaboration, which are essential for managing a distributed workforce and ensuring data consistency across global facilities. This shift helps enterprises mitigate the financial impact of operational interruptions. As reported by Siemens in 2024, unplanned downtime costs Fortune Global 500 industrial companies approximately $1.5 trillion annually, highlighting the urgency for resilient cloud-based management systems. Furthermore, market momentum toward these platforms is evident in vendor performance; IFS reported in January 2024, within its 'Full Year 2023 Financial Results', that cloud revenue increased by 46% year-on-year, reflecting the accelerated adoption of cloud-native asset management technologies.

Market Challenges

The difficulty of seamlessly integrating modern asset management solutions with aging industrial infrastructure constitutes a formidable barrier to the growth of the Global Enterprise Asset Management Market. Most legacy machinery was manufactured without inherent data connectivity or sensors, creating extensive blind spots that negate the predictive capabilities of advanced software. Consequently, organizations face the burden of expensive and complex retrofitting projects to establish the necessary communication pathways between physical assets and digital platforms. This technical friction significantly increases the total cost of ownership and extends the return on investment timeline, causing widespread hesitation among potential buyers.

This operational reluctance directly restricts market expansion, as companies choose to defer adoption rather than disrupt existing production lines for upgrades. The gap between the desire for modernization and the reality of implementation is evident in recent industry findings. According to Make UK, in 2024, only 12.5% of manufacturers were making digital technologies central to their strategic planning, despite broadly acknowledging the potential operational gains. This low conversion rate demonstrates how integration barriers stifle the uptake of EAM frameworks, effectively limiting the addressable market to enterprises with newer or already digitized capital assets.

Market Trends

The incorporation of sustainability and energy management modules is reshaping the market as organizations prioritize environmental, social, and governance (ESG) criteria alongside operational efficiency. Modern EAM systems are evolving to track energy consumption and carbon emissions at the individual asset level, allowing companies to balance equipment performance with environmental impact.

This integration supports compliance with stringent regulations while identifying high-consumption machinery for optimization or replacement. The financial commitment to this operational shift is substantial; according to Honeywell, April 2024, in the 'Environmental Sustainability Index, 6th Edition', 88% of organizations plan to increase their budgets for energy evolution and efficiency initiatives. This expenditure highlights the strategic necessity of embedding green metrics directly into asset management protocols to ensure long-term viability.

The utilization of Generative AI is distinctively advancing the sector by automating complex reporting and compliance tasks that traditionally burdened maintenance teams. Unlike predictive algorithms focused on mechanical failure, Generative AI is being deployed to synthesize technical documentation, streamline work order generation, and produce audit-ready regulatory reports through natural language processing.

This capability reduces the administrative latency associated with asset upkeep and empowers technicians to retrieve critical repair knowledge instantaneously. The operational value of this technology is rapidly gaining recognition; according to Google Cloud, June 2024, in the 'The Return on Investment of Generative AI' report, 61% of manufacturing organizations are already employing generative AI applications in production environments. This adoption rate signals a decisive move towards AI-driven knowledge management within asset-heavy industries.

Key Players Profiled in the Enterprise Asset Management Market

• IBM Corporation
• SAP SE
• Oracle Corporation
• Infor
• Siemens AG
• Hexagon AB
• IFS Group
• ABB Ltd.
• Bentley Systems, Incorporated
• Schneider Electric SE

Report Scope

In this report, the Global Enterprise Asset Management Market has been segmented into the following categories:

Enterprise Asset Management Market, by Component:

• Solutions
• Services

Enterprise Asset Management Market, by Organization Size:

• SMEs
• Large Enterprises

Enterprise Asset Management Market, by Deployment Model:

• On-Premise
• Cloud-Based
• Hybrid Model

Enterprise Asset Management Market, by Application:

• Assets MRO
• Non-Linear Assets
• Linear Assets
• Field Service Management

Enterprise Asset Management Market, by Industry Vertical:

• Manufacturing
• Utilities
• Transportation
• Oil & Gas
• Government & Defense
• Others

Enterprise Asset Management Market, by Region:

• North America
• Europe
• Asia-Pacific
• South America
• Middle East & Africa

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the Global Enterprise Asset Management Market.

Available Customization

The analyst offers customization according to your specific needs. The following customization options are available for the report:

• Detailed analysis and profiling of additional market players (up to five).

This product will be delivered within 1-3 business days.