About Equipment Maintenance Systems
The global equipment maintenance systems market is expected to grow at a rapid pace during the forecast period, according to the AMA study. Increasing demand for automation in equipment maintenance operations and rising adoption of cloud-based equipment maintenance solutions are expected to be some of the major factors aiding into the growth for the market. However, the market is expected to witness a decline in the growth during FY 2020 but it is again expected to rise with a healthy pace after the COVID-19 pandemic is over.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
The vendors in this market are majorly focusing on developing innovative products and solutions in order to cater to the market's demands to remain competitive in the global market. According to the recent global industry crisis due to outbreak of COVID-19 is expected to be one of the major challenges for the vendors of this market as the production and markets of different industries have been shut down for an ambiguous period of time. Analyst at AMA Research estimates that United States Players will contribute the maximum growth to Global Equipment Maintenance Systems market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Aptean (United States), Ashcom Technologies (United States), Axxerion USA (United States), Dude Solutions, Inc. (United States), Facilities Management Express LLC (United States), FasTrak SoftWorks, Inc. (United States), Fiix (Canada), Fluke Corporation (United States), Hippo CMMS (Canada), IBM (United States), ManagerPlus (United States), MAPCON Technologies, Inc. (United States), MPulse Software Inc. (United States), TheWorxHub (United States) and UpKeep Maintenance Management (United States) are some of the key players that are part of study coverage.
Segmentation Overview
AMA Research has segmented the market of Global Equipment Maintenance Systems market by Type (Hardware, Software {On-Premise, Cloud Based} and Services {OEMs, ISO, In-House Maintenance}), Application (Work Management, Predictive Maintenance, Reporting, Scheduling, Mobile Maintenance, Inventory Management, Asset Management and Multi-Site Toolkit) and Region.
On the basis of geography, the market of Equipment Maintenance Systems has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by End Users, the sub-segment i.e. Public Organisations will boost the Equipment Maintenance Systems market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Enterprise SIze, the sub-segment i.e. SMEs will boost the Equipment Maintenance Systems market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Industry Verticals, the sub-segment i.e. Industrial Manufacturing will boost the Equipment Maintenance Systems market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Maintenance, the sub-segment i.e. Preventive Maintenance will boost the Equipment Maintenance Systems market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Implementation of Artificial Intelligence (AI) & Machine Learning in Equipment Maintenance Systems
Market Growth Drivers:
Rising Demand for Automation in Equipment Maintenance Operations and The Rising Adoption of Cloud-based Equipment Maintenance Solutions
Challenges:
Short-term Challenges due to Reduced Operations Across Different Industries & Economic Crisis caused by COVID-19 Pandemic Across the World
Restraints:
High Cost of Solutions
Opportunities:
Opportunities in the Asia Pacific Region
Market Leaders and their expansionary development strategies
In June 2020, Evernex acquired of Technogroup and creates a global leader in data centre equipment maintenance. The acquisition will offers fantastic growth prospects.
In April 2023, Bureau Veritas, a world leader in testing, inspection, and certification, has taken a significant step forward in the delivery of digitally optimised machinery maintenance with the launched of a new capability that enables its Machinery Maintenance Application (MMA) to connect directly to a vessel operator’s own maintenance management system, K-Fleet from Kongsberg Digital.
Stringent Government Regulations Regarding Lock-Down of Cities & Shutting Down of Operations Across Different Industries Across the World Due to the COVID-19 Pandemic is Impacting the Demand for Equipment Maintenance Systems
Analyst View
Since the COVID-19 virus outbreak in December 2019, the disease has spread to more than 200 countries across the world along with the World Health Organization declaring it a public health emergency. The global impacts of the coronavirus disease 2019 (COVID-19) are already starting to be felt, and will significantly affect the Equipment Maintenance Systems market in 2020. The outbreak of COVID-19 has brought effects on many aspects, like scheduled public transportation cancellations; travel bans and quarantines; closed operations across hotels & restaurants; banning of public gatherings & events; large slow-down in the supply chain of different markets; stock market unpredictability; declining business assurance, and uncertainty in the future market dynamics.
Key Target Audience
Government Regulatory, Research Organizations and End-Use Industries
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.