Cloud-Based Enterprise Asset Management Solutions Gaining Traction among SMEs

Predictive maintenance solutions allow organizations to track the operations of their assets in real time. Such solutions alert users about any potential equipment breakdown, so that maintenance can be carried out in advance, lest the equipment should break down unexpectedly and bring the entire operation to a sudden halt. This would reduce productivity and lead to significant revenue loss, which is why enterprises are using predictive maintenance to avoid such a situation.

Now, although EAM solutions are so beneficial, they are majorly used by large, well-funded companies because they are expensive. Thus, in order to target small and medium enterprises (SMEs), IT companies are making such solutions available over the cloud. Not just SMEs, start-ups too are rapidly adopting cloud-based EAM solutions because they eliminate the requirement for deploying expensive infrastructure. Moreover, such solutions are advantageous for field/traveling employees as they can be accessed from anywhere, with any internet-connected device. Other advantages of cloud-based EAM solutions are easy scalability, automatic updates, and integrated performance monitoring and debugging tools.



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Owing to such advantages, even large enterprises across all sectors, including manufacturing, energy and utilities, IT and telecom, healthcare and life sciences, government and defense, transportation and logistics, oil and gas, metal & mining, and retail, are shifting to cloud-based solutions. The demand for EAM solutions, in general, has been the highest in the manufacturing sector till now, as manufacturers have a comparatively more-voluminous infrastructure than companies in other sectors. Therefore, manufacturers are focusing on simplifying the EAM process to achieve profitability.

As EAM solutions are still an advanced and expensive technology, North America is the largest enterprise asset management market, and it will continue generating the highest demand for such solutions in the years to come. Moreover, their usage is set to burgeon in Asia-Pacific (APAC) as well, as it has the highest manufacturing output of any region. In addition, with sustained government support, APAC enterprises are digitizing themselves, which is driving the procurement of advanced computer software for various purposes.




Hence, with enterprises competing for profitability, their focus on EAM is only expected to increase.

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