How Does Enterprise Asset Management Help in Achieving Profitability?

Every company is nowadays looking to reduce its operational costs in order to become more profitable. Lower operational costs result in lower product/service prices, and with the increasing competition in every industry, companies are focusing on making their offerings more accessible to as many people as possible. One of the best ways to reduce operational costs for a company is to care for its assets, including its offices and machines, deeply.



Thus, with enterprises scrambling to be operationally more efficient and cost-effective, the enterprise asset management (EAM) market, as claimed by P&S Intelligence, is expected to witness a high 17.0% CAGR between 2020 and 2030 (forecast period). As a result, the revenue generated by the providers of such solutions and services will likely surge from $5.5 billion in 2019 to $25.9 billion by 2030.

This is because EAM includes a host of solutions that help companies monitor the operations of their assets, so that maintenance costs and the risk of unplanned system failure can be reduced. Apart from cost-effective maintenance, EAM solutions also allow for maximum asset utilization. Since to become profitable, a company needs to generate more sales revenue relative to what is being spent on the procurement and maintenance of machines, it must make the maximum use of its equipment.

With EAM, maintenance agreements can be managed, asset inventory, meter readings, and invoice charges can be tracked, trends in excess charges and invoice payments can be examined, and invoice and funding information can be analyzed.

This market research report provides a comprehensive overview of the market
  • Future potential of the market through its forecast for the period 2020– 2030
  • Major factors driving the market and their impact during the short, medium, and long terms
  • Market restraints and their impact during the short, medium, and long terms
  • Recent trends and evolving opportunities for the market participants
  • Historical and the present size of the market segments and understand their comparative future potential
  • Potential of on-demand logistics services, so the market players make informed decisions on the sales of their offerings

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