Assets management is a systematically streamlined procedure integrated with a system to manage, operate, monitor, and maintain various assets such as intellectual property, financial assets, and human capital. This system works very precisely to deliver cost effective disposable of the assets. Focusing on the enterprise based asset management, it can be defined as a management system specially crafted to ease the controlling process of the organization owned assets, this includes various business units, services, other locations property.
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The global enterprise asset management market is widely diversified based on its types of application, its service, and end user segments. Segmentation based on application type it is bifurcated in three types; linear assets and non-linear assets, and field service management (FSM). Further, the linear assets type is sub-segmented as road, railways, pipelines, and electricity transmission lines. Non-linear assets are classified as fleet, equipment, buildings, and infrastructures. Field service management is divided as Assets MRO. Further based on its service it is segmented as training & support, Implementation, and managed services. The global enterprise asset management systems are used by many small and medium business organization and large firms which are broadly bifurcated in the manufacturing sector, transportation, healthcare, energy and utilities, and also includes many other end-user industries.
A Large number of the organization adopting software-based asset management to reduce the head count of manual labor has augmented the demand for the enterprise based assets management systems. The introduction of cloud-based services and Internet of Things incorporate which eases the operational, monitoring, and planning process, these advantages have forced organizations to use the asset management systems which indirectly fuels the growth of the global enterprise asset management. Growing demand of the assets management systems from end users is also a major reason responsible for the growth of the global market. On the other hand lack of skilled personnel, high designing cost, and lack of strategic planning skills has restraint the growth of the global enterprise asset management market.
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Geographically, the enterprise asset management market is dominated by major geographical regions such as North America, Europe, Asia-Pacific and the Middle East, Latin America and Africa and Rest of the World. Moreover, North America is anticipated to dominate the global enterprise asset management in coming future. Europe ranks second on the listing of prominent regions leading the global market due to high growth and demand.
Some of the major players contributing their efforts through their products and services comprise Oracle Corporation, CGI Group, SAP SE, IBM Corporation, ABB Group, Assetworks LLC, Genesis Technology Solutions, Inc., Mainsaver, Inc., Assetworks LLC, IFS AB, Real Asset Management, Infor, and Schneider Electric (Invensys).
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