US Enterprise Asset Management Market worth $2.7 billion in 2028
According to a research report "US Enterprise Asset Management Market by Application (Predictive Maintenance, Facility Management, Asset Lifecycle Management, Labor Management), Vertical (Transportation & Logistics, Education, Energy & Utilities) - Global Forecast to 2028" published by MarketsandMarkets, the US enterprise asset management market is expected to reach USD 2.7 billion in 2028 from USD 1.9 billion in 2023, at a CAGR of 7.1% during the forecast period.
The growing adoption of AI-powered predictive maintenance, the need for asset lifecycle optimization, and the rise of cloud-based EAM solutions drive the US enterprise asset management (EAM) market. However, challenges such as high implementation costs and integration complexities with legacy systems could hinder market growth.
The solution segment accounted for the largest market share by offering segments in the US enterprise asset management market during the forecast period.
In the US enterprise asset management (EAM) market, the solution segment held the largest share within the offering segment during the forecast period. This growth is driven by the increasing demand for AI-powered predictive maintenance, real-time asset tracking, and cloud-based EAM platforms that help businesses optimize asset performance and reduce downtime. Companies across multiple sectors, including manufacturing, energy, and transport, are adopting EAM solutions to make their operations more efficient and ensure maximum utilization of core assets across their lifespan. Additionally, regulatory compliance and the need for better risk management are pushing organizations to adopt advanced asset management software. The shift toward digital transformation, focusing on IoT and data-driven decision-making, further fuels the demand for comprehensive EAM solutions. While services such as consulting and implementation are essential in facilitating EAM adoption, companies invest highly in software platforms that offer automation, analytics, and easy integration with current enterprise systems.
The asset lifecycle management segment is expected to hold the largest share by application in the US enterprise asset management market during the forecast period.
The asset lifecycle management segment is expected to hold the largest share by application in the US enterprise asset management (EAM) market during the forecast period, driven by the increasing focus on cost control and asset utilization. Organizations emphasize organized lifecycle management to maximize asset investment, reduce unplanned replacements, and maintain compliance with financial and operational standards. The rising adoption of digital twins and simulation technologies allows businesses to model asset performance and make data-driven decisions for upgrades or decommissioning. Additionally, industries with high-value assets, such as aerospace, utilities, and logistics, leverage lifecycle management to streamline capital planning and resource allocation. With economic pressures and sustainability goals shaping corporate strategies, businesses are looking for more innovative ways to manage assets over their entire lifespan, making lifecycle management a critical component of enterprise operations.
The transportation & logistics segment is expected to grow at the highest CAGR during the forecast period.
The transportation and logistics industry is expected to grow at the highest CAGR in the US enterprise asset management (EAM) market based on the imperative to be more efficient and smart. As online business expands and the demands on deliveries rise, companies leverage EAM software for improved vehicle performance, downtime elimination, and asset monitoring. AI and IoT-based predictive maintenance prevent abrupt breakdowns, while cloud-based solutions integrate GPS and telematics for real-time tracking. More significant regulatory norms regarding safety and sustainability are also compelling logistics firms to employ EAM to enhance compliance and cost of management. More substantial investments in automated warehouses, electric fleets, and data-centric logistics also push organizations to focus on smart asset management to remain competitive. This transformation is driving rapid growth, and transportation and logistics are expected to be the fastest-growing segment of the US EAM market.
Key players in the US enterprise asset management market are Oracle IBM (US), Oracle (US), Accruent (US), Aptean (US), eMaint (US), UpKeep (US), RF gen (US), AssetWorks (US), Asset Panda (US), EZOfficeinventory (US), EZmaintain, Kloudgin (US), Limble CMMS (US), FIIX (US), Fleetio (US), GoCodes (US), and Redlist (US).
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