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Enterprise Asset Management Market Size Is Estimated To Rise To USD 5.5 Billion By 2026: Report by MnM Enterprise Asset Management Market According to a research report "Enterprise Asset Management Market by Application, Component, Organization Size, Deployment Model, Vertical (Energy and Utilities, Government and Public Sector, Manufacturing, Transportation and Logistics), and Region - Global Forecast to 2026 ", size is expected to grow at a Compound Annual Growth Rate (CAGR) of 8.7% during the forecast period, to reach USD 5.5 billion by 2026 from USD 3.3 billion in 2020. The EAM refers to the combination of software, systems, and services used by enterprises to manage the life cycle of physical assets and equipment for maximizing their lifetime; reducing costs; and improving quality and efficiency, health of assets, and environmental safety. It mainly offers functionalities, such as planning, organizing, and implementing maintenance activities carried out by employees of organizations or third–party entities. Some of the EAM applications are asset lifecycle management, inventory management, work order management, labor management, predictive maintenance, facility management, reporting and analytics, Computerized Maintenance Management System (CMMS), and Field Service Management (FSM). Browse 231 market data Tables and 51 Figures spread through 239 Pages and in-depth TOC on "Enterprise Asset Management Market by Application, Component, Organization Size, Deployment Model, Vertical (Energy and Utilities, Government and Public Sector, Manufacturing, Transportation and Logistics), and Region - Global Forecast to 2026 " Request Free Sample Report @ https://www.marketsandmarkets.com/requestsampleNew.asp?id=54576143 The market is expected to be driven by the Growing need for gaining a 360-degree view of assets Asset infrastructure is highly complex as assets are spread across locations, departments, and databases in many organizations. The complexity of asset infrastructure makes it difficult to achieve a complete view. A decade ago, it was next to impossible to remotely run a field service business. Currently, smartphones and tablets have made this a reality. With asset capabilities constantly changing and new technologies enhancing the power of data processing, enterprises need access to an EAM system with a 360–degree view of all assets– from design to installation and operations. Organizations are continuously seeking ways for improving asset management efficiency, reducing the risk of downtime, and gaining a competitive edge over their competitors. The demand for mobility-driven EAM solutions is increasing, helping organizations in making better business decisions, gaining better control over service operations, and delivering prompt services to customers.