Worldwide Enterprise Asset Management Applications Market Shares, 2020: Pandemic Accelerates Cloud Adoption

Worldwide Enterprise Asset Management Applications Market Shares, 2020: Pandemic Accelerates Cloud Adoption

  • June 2021 •
  • 13 pages •
  • Report ID: 6099655 •
  • Format: PDF
This IDC study provides market share data for the enterprise asset management applications market in 2020. The worldwide EAM applications market experienced 3.0% growth in 2020, reaching $2.9 billion compared with $2.8 billion and 8.1% growth in 2019. The market was uneven in 2020 due to the global COVID-19 pandemic, which forced many organizations to close temporarily, shift to remote work, and adhere to new workplace restrictions. In the second half of the year, particularly as asset-intensive industries ramped up operations and organizations planned to return to onsite facilities, growth was fueled by investment in public cloud services, new apps to meet health and safety requirements, and product enhancements made by EAM application vendors."The global COVID-19 pandemic shaped enterprise asset management software revenue differently across regions and industries. Some organizations temporarily delayed planned deployments, while others accelerated high-priority spending to meet new challenges," says Juliana Beauvais, research manager, Enterprise Asset Management and Smart Facilities at IDC. "Public cloud adoption, new apps to keep facilities running, and a shift to contactless processes were some of the main factors behind modest market growth, encouraging EAM application vendors to expand their ecosystems."