Asia-Pacific EAM market is estimated to grow significantly at a CAGR of around 12.2% during the forecast period. The market mainly driven due to growth in the industry verticals such as BFSI, energy and power, IT & telecommunication, manufacturing among others in these countries and increasing awareness towards the advantage of asset management. The large consumer base, majorly in the manufacturing sector is significantly propelling the growth of the market in the Asia-Pacific. China is the largest market in the Asia-Pacific region. The increasing demand for power in the region is likely to add significant assets in the country including solar farms, windmills, thermal power plants and others which create scope for the EAM market growth in the region in the near future.
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The Asia-Pacific EAM market is segmented on the basis of deployment and vertical. Based on deployment, the market is bifurcated into on-premise and cloud-based EAM solutions. Among these, on-premise EAM solutions held the highest market share in 2019. Energy and utilities, government and defense, manufacturing, transportation, and logistics industry mostly prefer on-premise EAM solutions as this solution is more customizable as compared to cloud-based EAM, thus, it fulfills the requirements of all end-users. Further, on-premise EAM solutions may also be less vulnerable to global cyber threats as on-premise EAM set-up is support by experienced IT professionals, hence, the data security can be handled internally. Based on vertical, the market is segmented into BFSI, retail, energy and utility, healthcare, government, IT & telecom, and others (manufacturing, transportation, metal and mining, machinery, and construction).
The companies which are contributing to the growth of the Asia-Pacific EAM market include ABB Ltd., Fujitsu Ltd., IBM Corp., Oracle Corp., Microsoft Corp., SAP SE and others. The market players are considerably contributing to the market growth by the adoption of various strategies including new product launch, merger, and acquisition, collaborations with government, funding to the start-ups and technological advancements to stay competitive in the market.
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Asia-Pacific EAM Market Segmentation
By Deployment
- On-premises
- Cloud-Based
By Verticals
- Banking, Financial Services and Insurance (BFSI)
- Energy & Power
- Healthcare
- Government & Utilities
- IT & Telecom
- Others
Regional Analysis
- China
- India
- Japan
- Rest of Asia-Pacific
Company Profiles
- ABB Ltd.
- ABS Group
- AVEVA Group PLC
- Aptean Holdings, Inc.
- Fujitsu Ltd.
- IBM Corp.
- Infor
- Microsoft Corp.
- Oracle Corp.
- SAP SE
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