Surging Demand for Cloud-Based EAM Solutions Fuels Market Expansion Through 2032

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The global enterprise asset management market continues its strong upward trajectory, with a valuation of USD 6.89 billion in 2024. Demonstrating a healthy expansion outlook, the market is projected to reach USD 15.35 billion by 2032, advancing at a CAGR of 10.66% during 2025–2032. This growth is driven by organizations’ increasing need to cut maintenance and procurement costs, improve asset availability, and reduce instances of equipment breakdown—all critical priorities as industries become more asset-intensive and operationally complex.

Companies today are also significantly more cautious about cybersecurity risks, which is steering them toward modern EAM platforms equipped with stronger security architectures. Businesses rely on these systems to manage diverse assets—from buildings to machinery—ensuring optimal performance throughout the asset lifecycle. With return on assets (ROA) gaining prominence as a key profitability metric, enterprises are adopting EAM solutions to enhance timely maintenance, reduce downtime, and extend asset life.

As EAM software continues to optimize the utilization, productivity, and reliability of enterprise resources, its role in increasing ROA and strengthening operational efficiency is becoming indispensable across industries worldwide.

Key Insights

  • The integration of IoT with EAM solutions is emerging as a pivotal market trend, enabling real-time data collection and analysis for asset monitoring and performance optimization. Vendors and end users alike are deploying IoT devices to gain visibility into physical and virtual assets, improving maintenance schedules and identifying repair and replacement opportunities.
  • Mobile-enabled EAM ecosystems are gaining traction globally, supported by the rising use of smartphones, PDAs, and laptops. Solutions offered by SAP SE and IBM Corporation empower workers to input inspection data directly into databases, thereby minimizing errors, shortening delays, and lowering operational costs.
  • IBM’s Maximo Mobile exemplifies next-generation EAM mobility, delivering real-time asset history, diagnostic insights, and AI-driven expert support. Its compatibility with wearables and safety sensors enables technicians to access critical asset data anytime, even offline, improving productivity in remote locations.
  • The adoption of EAM for effective asset utilization is accelerating, as enterprises aim to improve asset turnover ratios. Features such as maintenance agreement management, invoice comparison, trend analysis, and meter tracking help organizations minimize waste, detect fraud, and enhance operational efficiency.
  • In deployment segmentation, on-premises EAM accounted for 65% of the market in 2024, as large enterprises prioritize control and data security. Meanwhile, cloud deployment is set to register the higher CAGR, supported by startups and new entrants seeking lower upfront costs, mobility advantages, and enhanced performance monitoring.
  • Cloud-based EAM solutions are rapidly gaining momentum due to their ability to reduce IT expenditure, provide online/offline mobility, streamline processes, and enhance technical support with integrated debugging and monitoring tools.
  • In vertical segmentation, manufacturing leads the market, fueled by digital transformation, rising infrastructural investment, and demand for customized products. EAM solutions enable efficient capital planning and help manufacturers navigate complex regulatory environments and competitive pressures.
  • The healthcare and life sciences segment is the fastest-growing, with a CAGR of 12.11%, driven by rising healthcare spending, stringent compliance requirements, rapid digitization, and the need for advanced performance monitoring and patient care optimization.
  • In terms of offerings, solution-based EAM dominated 2024 with a 60% share, owing to rising demand for ROI-driven asset management and the need for streamlined operations. Key solution components include asset lifecycle management, predictive maintenance, inventory management, and reporting and analytics.
  • The service segment is expected to grow faster, as enterprises increasingly seek managed and professional services to implement, monitor, and optimize EAM platforms while reducing long-term operational costs.
  • Among enterprise sizes, large enterprises generate the higher revenue, driven by the need for compliance, downtime analysis, and predictive failure detection. SMEs, however, will grow faster at an 11.35% CAGR, as smaller organizations adopt cloud-based EAM to boost competitiveness and cut costs.
  • Regionally, North America led with 40% revenue in 2024, backed by stringent compliance requirements, advanced technology adoption, and strong vendor presence. Growing emphasis on ML-, IoT-, and computer vision-integrated solutions is accelerating market advances in the region.
  • Asia-Pacific will grow at the highest CAGR of 12.66%, supported by digital adoption, increasing IT spending, industrial expansion, startup growth, and government initiatives such as India’s Make in India program. Rapid cloud deployment and big data implementation are also boosting EAM uptake across APAC.
  • Countries such as Vietnam and Indonesia are prioritizing ICT sector development, fueling demand for preventive maintenance scheduling, improved asset lifecycle management, and operational efficiency enhancements.
  • The market remains fragmented, with numerous software providers catering to different asset management needs. While large enterprises prefer established IT vendors, SMEs increasingly partner with startups due to budget considerations and cloud readiness.
  • Key market participants include Oracle Corporation, SAP SE, IBM Corporation, Schneider Electric SE, ABB Ltd., CGI Inc., Rockwell Automation Inc., Bentley Systems Incorporated, SAS Institute Inc., Salesforce Inc., Hexagon AB, Siemens AG, AssetWorks LLC, Sage Group PLC, and AVEVA Group plc.
  • Recent industry developments include major acquisitions and partnerships such as IBM’s acquisition of Prescinto to strengthen its renewable energy EAM offerings, Aptean’s acquisition of U.K.-based SSG Insight, and Multiples Alternate Asset Management’s USD 200 million acquisition of Qburst to expand enterprise technology investments.

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