Emergence of new business models and maximizing production efficiency stimulates demand for EAM software embedded with Industrial IoT based technologies
LONDON, March 6, 2018 /PRNewswire/ -- Frost & Sullivan's recent analysis, Global Enterprise Asset Management Software Market, Forecast to 2022, finds the emergence of digitization and integration of Industrial Internet of Things (IIoT)-based technologies will boost demand for EAM software and create a connected environment.
Frost & Sullivan expects revenues to reach $2,853.9 million by 2022 due to an increased focus on enhancing asset health and reducing operational costs, especially in asset-intensive industries. The analysis also provides a detailed assessment of key market dynamics, drivers and restraints, revenue forecasts by region, market share and competitive analysis.
For further information on this analysis, please visit: http://frost.ly/2a8
"Cloud-based EAM software is expected to gain more traction in the future given its ease of deployment, accessibility to various modules through mobile applications, and improvement in execution and monitoring of business operations," said Kiravani Emani, Industrial Automation & Process Control Senior Research Analyst at Frost & Sullivan. "Moreover, there is increasing demand for analytical tools that support data consolidation and visualization, which, in turn, help effective decision making."
Highlights of this analysis include:
"Market growth is being impinged by end users' lack of clarity on the functionality of EAM software and its integration with existing software solutions," noted Emani. "To address these constraints, EAM vendors are trying to increase business and value proposition awareness of the solutions they provide for specific end-user industries."
Global Enterprise Asset Management Software Market, Forecast to 2022 is part of Frost & Sullivan's global Industrial Automation & Process Control Growth Partnership Service program.
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Global Enterprise Asset Management Software Market, Forecast to 2022
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