Enterprise asset management market forecast to more than double by 2035

The global enterprise asset management market is projected to grow to $10.66bn by 2035, driven by digital transformation, predictive maintenance and cloud adoption, according to a new industry report

The global enterprise asset management (EAM) market is expected to grow from $4.9bn in 2025 to $10.66bn by 2035, according to new research.

A study by Market Research Future forecasts a compound annual growth rate of 8.09 per cent over the 2025–2035 period, citing rising demand for predictive maintenance, increased use of connected assets and the replacement of legacy systems with cloud-based platforms.

Market Research Future said organisations across asset-intensive sectors including manufacturing, energy, utilities, transport and healthcare are increasingly adopting EAM systems to improve asset visibility, extend equipment life cycles and reduce unplanned downtime.

The report said EAM platforms are being integrated with technologies such as internet-of-things sensors, analytics and automation to support data-driven maintenance
and compliance.

The market is segmented by component, deployment model, organisation size and end-use industry.

Components include asset lifecycle management, inventory management, work order management and analytics, alongside professional services such as implementation and support.

Deployment models include on-premise and cloud-based systems, with cloud adoption increasing due to scalability and lower upfront costs, the report said.

Market Research Future identified IBM, SAP, Oracle, Infor, IFS, ABB, Aptean, CGI, Bentley Systems and Ramco Systems among the main vendors operating in the sector.

The report said competition is centred on product integration, predictive analytics, mobile access and industry-specific functionality.

According to the report, growth is being driven by the need to improve asset reliability, meet regulatory requirements and manage operational costs. Sustainability and energy efficiency objectives are also contributing to adoption, as companies seek to improve asset utilisation and reduce waste.

The report said implementation complexity and cost remain barriers, particularly for small and mid-sized organisations. Integration with existing enterprise resource planning systems, workforce resistance to change and data security concerns were also cited as challenges.

Regionally, North America currently accounts for the largest share of the EAM market, reflecting early adoption of digital maintenance strategies and the presence of major software providers.

Asia-Pacific is forecast to record the fastest growth, supported by industrial expansion and infrastructure investment, while Europe is expected to see steady growth linked to regulatory compliance and sustainability initiatives.

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