The growing need for all in one single platform that offers secure management of organization and asset and information is fostering demand for enterprise asset management
Enterprise Asset Management (EAM), or Computerized Maintenance Management System (CMMS), helps maintenance all task associated, people, tools, and space associated with your company. The key feature of EAM is that it enables a company to get its inventory, personnel, and resources in order and to make its employees efficient in their tasks.
The increasing demand for cloud-based EAM solutions in order to gain a complete view of assets is a prime factor driving the market growth of enterprise asset management. Growing demand for innovative technologies such as AI and ML for reducing errors and the overall maintenance cost is again expected to augment the market growth. Moreover, increasing penetration of the internet around the globe coupled with the growing need for improving production efficiency is also expected to stimulate the market growth of enterprise asset management. Furthermore, growing concern over the security and privacy of data in an organization is further anticipated to augment the market growth of enterprise asset management.
From the geographical point of view, North America is expected to gain significant growth over the forecast period and this is attributed to the strong presence of the IT &software industry in the region. According to CompTIA, Inc., the United States is the largest tech market in the world, representing 32% of the total, or approximately $1.7 trillion for 2020. In the U.S., as well as in many other countries, the tech sector accounts for a significant portion of economic activity.
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