TECH SUPPLIER Jun 2020 - Market Forecast - Doc # US45244220
Worldwide Enterprise Asset Management Applications Forecast, 2020–2024: Intelligent EAM
By: Juliana BeauvaisResearch Manager, Enterprise Applications, Kevin PermenterResearch Manager, Enterprise Applications, Mickey North RizzaProgram Vice President, Enterprise Applications and Digital Commerce, Jordan JewellResearch Manager, Digital Commerce and Enterprise Applications
This IDC study examines the worldwide enterprise asset management applications market, which will see a noticeable impact of COVID-19 through the forecast period. The worldwide enterprise asset management applications market is forecast to be $2.4 billion by 2024, growing at a 1.4% CAGR. The on-premises/other software market is forecast to decline at a 4.7% CAGR because of a combination of an ongoing shift to public cloud and negative impacts on IT spending due to the COVID-19 pandemic. The public cloud software market is projected to grow at a 12.3% CAGR, reflecting continued strong demand moving forward.
"The COVID-19 pandemic and the economic aftermath will shape the enterprise asset management application market for years to come. Tempering the downturn, EAM is undergoing an intelligence revolution as maintenance and facility management look for ways to improve asset performance and increase productivity with technology," says Juliana Beauvais, research manager, Enterprise Applications.
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