Growing investment by organizations in EAM software is expected to drive the global enterprise asset management market during the forecast period
Increasing investment by organizations on enterprise asset management software is expected to drive growth of the global enterprise asset management market during the forecast period. Various governmental and corporate organizations around the world are employing EAM software, in order to optimize the company’s work efficiency and save money. For instance, in August 2019, Infor, Inc., a U.S.-based enterprise software company, received the contract for EAM solution from Auckland Transport (AT) to manage its asset in future. AT manages a public transport system that includes assets of US$ 1.02 billion with 43 railway stations, 21 ferry wharves, and 2,337 bus stations.
Growing emergence of IoT such as smartphones is expected to propel the global enterprise asset management market
Furthermore, rising emergence of Internet of Things (IoT) such as smartphones, medical electronics, automobiles, thermostats, and more, which allows devices to communicate and send and receive data is expected to propel the global enterprise asset management market growth over the forecast period.
North America region dominated the global enterprise asset management market in 2018, accounting for 31.2% share in terms of value, followed by Europe and Latin America, respectively.

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High cost associated with installation of EAM software is expected to restrain the market growth
High cost of enterprise asset management software, especially for small and medium-sized companies is expected restrain growth of the global enterprise asset management market in the near future. Various companies such as IBM and SAP SE offers EAM solutions, though they are not always affordable for small- or medium-sized companies. Moreover, its implementation is time intensive, which would cost the company.

Lack of trained personal is to deploy EAM software is expected to hinder the market growth
Moreover, lack of skilled professionals to deploy EAM software is expected to hamper the market growth in the near future. Although there is no specific career path for EAM solutions for an individual, companies often understaff this particular domain. Moreover, this process is spanned through multiple departments and lack of coordination among those department can make it challenging to reach towards the same goal.

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