Enterprise Asset Management Market Regional Analysis:
North America Market Insights
North America industry is expected to dominate majority revenue share of 37.5% by 2035, owing to the strong presence of IT and telecom companies. The aging infrastructure in the region particularly in the transportation and utilities sectors is driving a high need for effective enterprise asset management systems to mitigate the risk associated with asset failures and optimize maintenance.
The U.S. enterprise asset management market is expected to expand at a lucrative CAGR till 2035. The local government’s programs and initiatives aimed at modernizing infrastructure are foreseen to boost the sales of asset management solutions in the coming years. Local government organizations are also widely adopting asset management solutions to make the operational workflow easier and more effective.
The swiftly expanding key industries such as mining, oil, gas, and transportation in Canada are set to positively influence sales of enterprise asset management solutions in the coming years. These organizations are investing heavily in advanced technologies and infrastructure such as EAM systems for efficient asset management.
APAC Market Insights
In enterprise asset management market, Asia Pacific region is set to capture a share of 28.5% by 2035 owing to rapid industrial activities and growing adoption of advanced technologies by end use organizations. The high-growth marketplaces in the region are India, China, Japan, and South Korea.
In India, the demand for on-premise enterprise asset management market is expected to be high as end use companies are widely employing regional expansion activities to earn high profits. The rise in small and medium-sized organizations in the country is also driving healthy sales of EAM solutions.
China is a global hub for electronic manufacturing, and the increasing adoption of digital technologies is set to drive high demand for enterprise asset management solutions in the country. The presence of international as well as local manufacturing companies in the country is positively influencing the adoption of EAM systems.
