Are you looking to add Enterprise Asset Management (EAM) to your arsenal of tools? Maybe for your business or personal use only, whatever it is – it’s always a good idea to know more about the most important Enterprise Asset Management (EAM) statistics of 2024.
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How much of an impact will Enterprise Asset Management (EAM) have on your day-to-day? or the day-to-day of your business? Should you invest in Enterprise Asset Management (EAM)? We will answer all your Enterprise Asset Management (EAM) related questions here.
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On this page, you’ll learn about the following:
Best Enterprise Asset Management (EAM) Statistics
☰ Use “CTRL+F” to quickly find statistics. There are total 33 Enterprise Asset Management (EAM) Statistics on this page 🙂Enterprise Asset Management (EAM) Usage Statistics
- Asset tracking solutions that allow companies to track cargo from dispatch to final destination will see a 27% increase in usage over the next five years. [0]
Enterprise Asset Management (EAM) Market Statistics
- The global Enterprise Asset Management market size is expected to grow at a Compound Annual Growth Rate of 8.7% during the forecast period, to reach USD 5.5 billion by 2026 from USD 3.3 billion in 2020. [1]
- The global EAM market size is expected to grow at a Compound Annual Growth Rate of 8.7% during the forecast period, to reach USD 5.5 billion by 2026 from USD 3.3 billion in 2020. [1]
- The EAM market is predicted to grow from the current valuation of $5.1 billion to $8.2 billion by 2024. [2]
- According to Statista, “The global market for fixed asset management software is forecast to grow from 3 billion U.S. dollars in 2019 to 5.2 billion U.S. dollars in 2024. [3]
- The global enterprise asset management market generated revenue of $5,682.1 million in 2020, and it is expected to grow at a CAGR of 14.2% during 2020–2030. [4]
- The global Enterprise Asset Management market size is expected to grow at a Compound Annual Growth Rate of 8.7% during the forecast period, to reach USD 5.5 billion by 2026 from USD 3.3 billion in 2020. [5]
- The global enterprise asset management market is expected to generate a revenue of $25.9 billion by 2030, rising from $5.5 billion in 2019, and is predicted to witness a 17.0% CAGR during 2020. [6]
Enterprise Asset Management (EAM) Software Statistics
- ’s adoption study found that of 271 maintenance managers surveyed, only 39% use a software system to track maintenance tasks. [2]
- According to Statista, “The global market for fixed asset management software is forecast to grow from 3 billion U.S. dollars in 2019 to 5.2 billion U.S. dollars in 2024. [3]
Enterprise Asset Management (EAM) Adoption Statistics
- ’s adoption study found that of 271 maintenance managers surveyed, only 39% use a software system to track maintenance tasks. [2]
Enterprise Asset Management (EAM) Latest Statistics
- 80% of fortune 2000 companies rely on our research to identify new revenue sources. [1]
- That’s a $2 billion increase from where it was predicted to be in a similar study in 2017. [2]
- So while the United States and Canada may see a bit of a slowdown depending on how the overall global economy turns in 2020 and beyond, they will likely not reduce their spending on EAM. [2]
- Of those asked in the study, 73% said that staying organized and establishing clear expectations was their number one strategy for retaining talent. [2]
- A focus on providing safe working conditions was cited by 53% of respondents, followed by 33% who offer above. [2]
- Another strategy listed by 27% of managers was focusing on highlevel metrics instead of wrench. [2]
- Finally, providing reimbursement for training or further education came in at 24%. [2]
- According to MPI, a more predictive and intelligent approach to asset management is invaluable to the future of these sectors and driving results such as 10 %. [7]
- According to a blog, “Over the 2004 to 2014 period an estimated $51.2 million of heavy plant, equipment and vehicles were stolen from businesses. [3]
- According to the data, “80% of employees waste an average of 30 minutes per day retrieving information.”. [3]
- According to Retail Wire, “Overstocks and outof stocks cost retailers $1.1 trillion globally in lost revenue. [3]
- Overstocks are responsible for 3.2 percent in lost revenue for the average retailer, and outof. [3]
- As per the capterra blog in 2017, “Businesses, on average, spend 80% of their time reacting to maintenance issues that arise rather than preventing them.”. [3]
- “As of 2015, 25 percent of the global data required security but was not protected. [3]
- That number was projected to increase to 45 percent in 2025.”. [3]
- On average, there is 5 to 10 percent of ghost assets exist in every organization. [3]
- Moreover, global healthcare spending as a share of gross domestic product is expected to be around 10.3% in 2024, from 9.9% of in 2018. [4]
- Before I started Limble we had a 26% downtime rate. [8]
- We, at this point, are running at 96% run rate and a 4% downtime rate. [8]
- “Before I started Limble we had a 26% downtime rate. [8]
- Since then … I’ve seen an increase in productivity by about 2030% Joe Romero, Director of Facilities Unilever. [8]
- Since then … I’ve seen an increase in productivity by about 20. [8]
I know you want to use Enterprise Asset Management (EAM) Software, thus we made this list of best Enterprise Asset Management (EAM) Software. We also wrote about how to learn Enterprise Asset Management (EAM) Software and how to install Enterprise Asset Management (EAM) Software. Recently we wrote how to uninstall Enterprise Asset Management (EAM) Software for newbie users. Don’t forgot to check latest Enterprise Asset Management (EAM) statistics of 2024.
Reference
- heartland-usa – https://heartland-usa.com/solutions/manufacturing/enterprise-asset-management/.
- marketsandmarkets – https://www.marketsandmarkets.com/Market-Reports/enterprise-asset-management-market-54576143.html.
- selecthub – https://www.selecthub.com/cmms/eam/eam-market/.
- assetinfinity – https://www.assetinfinity.com/blog/business-statistics-and-how-asset-management-software-overcomes-them.
- psmarketresearch – https://www.psmarketresearch.com/market-analysis/enterprise-asset-management-market.
- globenewswire – https://www.globenewswire.com/news-release/2021/03/15/2192813/28124/en/The-Worldwide-Enterprise-Asset-Management-Industry-is-Expected-to-Reach-5-5-Billion-by-2026-at-a-CAGR-of-8-7-from-2020.html.
- globenewswire – https://www.globenewswire.com/news-release/2020/11/06/2122033/0/en/Global-25-9-Bn-Enterprise-Asset-Management-Market-to-2030.html.
- sap – https://www.sap.com/insights/what-is-eam.html.
- limblecmms – https://limblecmms.com/enterprise-asset-management/.
How Useful is Enterprise Asset Management
One of the primary benefits of EAM is its ability to streamline asset management processes. By centralizing asset data and automating tasks such as scheduling maintenance, tracking inventory, and forecasting equipment lifecycles, EAM software can help organizations save time and reduce the risk of human error. This, in turn, improves asset reliability, minimizes downtime, and optimizes operational efficiency.
Moreover, EAM facilitates smarter decision-making by providing real-time insights into asset performance and health. With access to comprehensive data on asset condition, maintenance history, and costs, organizations can prioritize critical maintenance tasks, extend asset lifecycles, and allocate resources more effectively. This proactive approach not only reduces costs associated with unplanned downtime but also enhances overall asset performance and reliability.
Another key advantage of EAM is its role in regulatory compliance and risk management. In industries such as manufacturing, utilities, and healthcare, compliance with safety and environmental regulations is paramount. EAM software can help organizations track regulatory requirements, schedule inspections, and maintain audit trails to ensure compliance. By maintaining accurate records and staying on top of compliance deadlines, businesses can avoid costly fines, legal issues, and reputational damage.
Furthermore, EAM enables better financial planning and budgeting by providing insights into asset lifecycle costs and depreciation. By tracking asset utilization, maintenance expenses, and total cost of ownership, organizations can make informed decisions about asset investments, repairs, and replacements. This data-driven approach not only helps businesses optimize their capital spending but also improves ROI and profitability in the long run.
EAM also fosters collaboration and efficiency across different departments within an organization. By sharing real-time asset information and tracking workflows, EAM software breaks down silos and enhances communication among teams. This integrated approach ensures consistency in asset management practices, improves asset visibility, and enhances cross-functional alignment. As a result, businesses can make faster, more informed decisions, streamline processes, and achieve greater operational agility.
In conclusion, the usefulness of Enterprise Asset Management cannot be overstated. From improving operational efficiency and asset performance to ensuring regulatory compliance and driving strategic decision-making, EAM software offers a wide range of benefits for businesses seeking to maximize the value of their assets. By harnessing the power of EAM, organizations can unlock new opportunities for growth, innovation, and competitive advantage in an increasingly complex and dynamic business environment.
In Conclusion
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