Equipment Management Software Market Report 2025

The equipment management software market size has grown strongly in recent years. It will grow from $9.52 billion in 2024 to $10.46 billion in 2025 at a compound annual growth rate (CAGR) of 9.9%. The growth during the historical period was driven by increasing adoption of enterprise asset management solutions, growing demand for preventive maintenance systems, the rise of digital transformation across industries, greater need for asset lifecycle optimization, and a stronger focus on reducing operational costs.

The equipment management software market size is expected to see strong growth in the next few years. It will grow to $15.06 billion in 2029 at a compound annual growth rate (CAGR) of 9.5%. The growth during the forecast period is expected to be driven by rising digital adoption, increasing demand for cloud-based equipment management solutions, growing need for predictive maintenance and real-time monitoring, higher investments in Industry 4.0 initiatives, and an increasing focus on equipment safety and regulatory compliance. Key trends in this period include advancements in AI-driven predictive analytics, enhanced integration of IoT-enabled monitoring systems, development of mobile-first equipment management platforms, innovations in cloud-native asset management tools, and progress in automation for maintenance scheduling.

The increasing adoption of cloud-based solutions is driving growth in the equipment management software market. Cloud-based solutions, hosted on remote servers and accessed via the internet, offer scalability, enabling organizations to adjust computing resources on demand without heavy upfront infrastructure investment. This adoption enhances equipment management software by providing real-time data access, remote monitoring, seamless scalability across multiple locations, cost reduction, improved collaboration, stronger data security, and automatic updates. For instance, in 2023, 45.2% of EU enterprises used cloud computing services, a 4.2 percentage point increase from 2021, according to Eurostat.

Technological innovation is advancing equipment monitoring through smartphone-based tracking systems. These systems use mobile devices to scan QR codes or RF tags on equipment, allowing real-time location tracking and reducing search times, human error, and losses. In February 2025, Oki Electric Industry launched the SHO-XYZ Location and Inventory Management System, a smartphone-based SaaS solution that supports indoor and outdoor tracking, multilingual interfaces, and demonstrated a 75% reduction in item search times during validation tests.

In July 2022, IFS AB acquired Netherlands-based Ultimo Software Solutions B.V., integrating Ultimo’s configurable mid-market enterprise asset management solutions into its portfolio. This acquisition enables IFS to offer flexible, cloud-ready tools for managing equipment, assets, and maintenance operations across diverse industries.

Major players in the equipment management software market are Microsoft Corporation, Siemens Aktiengesellschaft, International Business Machines Corporation, Oracle Corporation, SAP SE, Trimble Inc., Infor Inc., Samsara Inc., Accruent LLC, Syncron International AB, Zoho Corporation Pvt. Ltd., MaintainX Inc., Limble Solutions Inc., AssetWorks LLC, Asset Panda LLC, MachineMax Technologies Limited, UpKeep Technologies Inc., Facilio Inc., EZO.io Inc., Cheqroom NV.

North America was the largest region in the equipment management software market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in equipment management software report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the equipment management software market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Note that the outlook for this market is being affected by rapid changes in trade relations and tariffs globally. The report will be updated prior to delivery to reflect the latest status, including revised forecasts and quantified impact analysis. The report’s Recommendations and Conclusions sections will be updated to give strategies for entities dealing with the fast-moving international environment.

The rapid escalation of U.S. tariffs and the resulting trade tensions in spring 2025 are significantly impacting the information technology sector, particularly in hardware manufacturing, data infrastructure, and software deployment. Higher duties on imported semiconductors, circuit boards, and networking equipment have raised production and operational costs for tech firms, cloud service providers, and data centers. Companies relying on globally sourced components for laptops, servers, and consumer electronics are facing longer lead times and increased pricing pressures. In parallel, tariffs on specialized software tools and retaliatory measures from key international markets have disrupted global IT supply chains and reduced overseas demand for U.S.-developed technologies. To navigate these challenges, the sector is accelerating investments in domestic chip fabrication, diversifying supplier bases, and adopting AI-driven automation to enhance operational resilience and cost efficiency.

Equipment management software is a tool that helps businesses monitor their machines, tools, and other equipment. It provides information on equipment location, usage, and maintenance needs, helping to prevent breakdowns and ensure smooth operations. The software also saves time and reduces costs by optimizing equipment utilization.

The primary components of equipment management software are software and services. This digital solution enables businesses to track, maintain, and optimize equipment use, reducing downtime and enhancing operational efficiency. It can be deployed on-premises or via the cloud and serves organizations of all sizes, including SMEs and large enterprises. Key applications include fleet management, inventory management, maintenance management, procurement management, and asset tracking. End users span industries such as construction, manufacturing, healthcare, oil and gas, utilities, transportation, and logistics.

The equipment management software market research report is one of a series of new reports that provides equipment management software market statistics, including the equipment management software industry global market size, regional shares, competitors with the equipment management software market share, detailed equipment management software market segments, market trends, and opportunities, and any further data you may need to thrive in the equipment management software industry. This equipment management software market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The equipment management software market includes revenues earned by entities by providing services such as tracking equipment location, scheduling maintenance, monitoring usage, and managing repairs. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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