Why Enterprise Asset Management?
- A systematic approach to the advanced production equipment is a requirement;
- The largest contributor to production cost is from production equipment;
- Structured downtime reporting and preventive maintenance;
Increasing EAM Market Size
- How big is it?
According to Laura Wood from Research and Markets, market size is $3.44 billion in 2017, expected to grow to $5 billion by 2022!
Major Factors driving EAM growth?
- Higher need for supervision of aging assets
- Maximization of return on assets
- Ability to track assets and related costs
- Data connectivity in a single database through EAM
- Mobility in asset management – track and manage mobile or remote assets