Vibrant Enterprise Asset Management and Field Service Management Market Forecasted to Reach $3 Billion
Enterprise Asset Management (EAM) and Field Service Management (FSM) provides functions required by maintenance organizations which includes asset information, work orders, MRO materials, labor, service contracts, mobility, and analytics. Four benefits — uptime, cost control, asset longevity, and safety — represent the key business reasons organizations acquire maintenance management systems.
Some regions will grow more quickly due to macro-economic trends. China, India, and Brazil, though having a smaller base, will grow rapidly. The Middle East and Russia, with high oil related revenues, have the fundamentals for robust growth.
The Americas, with the largest regional market, will also show strength. With the acceptance of mobility, field service applications achieved double digit growth that is expected to continue.
As mobile devices gain acceptance and functionality, new areas of business value have emerged. This convergence of technologies enables more powerful applications. Mobile solutions enable business process automation and higher business benefit that drives EAM upgrades and wider adoption. .
Strategic Issues
Users are upgrading or acquiring new EAM-FSM systems for improved operational performance. Users are exhibiting optimism towards these solutions.
• What are the key market drivers and how can suppliers increase their value?
• Which industries and geographies offer the best opportunities?
• What are the application areas that will grow the fastest?
• Is EAM-FSM being encroached by ERP, and how can the independents respond?
• What is the effect of the convergence of technologies for mobility?
