Worldwide Enterprise Asset Management Applications Forecast, 2021-2025

Worldwide Enterprise Asset Management Applications Forecast, 2021-2025

  • June 2021 •
  • 16 pages •
  • Report ID: 4998161 •
  • Format: PDF
This IDC study examines the market for enterprise asset management (EAM) applications, which is expected to reach almost $3.8 billion in 2025 software revenue, growing at a 5.2% CAGR. Growth is driven in part by the widespread demand for asset, maintenance, and facility management applications to support remote operations and hybrid workforces due to the global COVID-19 pandemic. In many ways, the crisis has accelerated the adoption of cloud EAM applications relative to on-premises and private cloud deployments, shifting to recurring revenue streams."Enterprise asset management software revenue growth will be propelled by the demand for cloud-based EAM applications, vertical industry needs, and innovation adoption, despite pandemic-related uncertainties in the next two years," says Juliana Beauvais, research manager, Enterprise Asset Management and Smart Facilities. "Organizations will seek to adapt facilities for hybrid work, enhance remote maintenance operations, and improve resiliency with predictive features."