Green Quadrant: Enterprise Asset Management Software 2024
08 Oct, 2024
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Executive Summary
This report provides a detailed fact-based comparison of the 14 most prominent enterprise asset management (EAM) software providers in the market. Based on the proprietary Verdantix Green Quadrant methodology, our analysis comprised two-and-a-half-hour live product demonstrations, with pre-set scenarios, desk research and vendor responses to a 151-point questionnaire covering nine technical, nine functional and nine market momentum categories. Verdantix also conducted interviews with 14 software users and reviewed the data from our global survey of 304 operational excellence decision-makers. Our research finds that the EAM software market consists of providers hailing from a range of backgrounds and operating in a highly competitive environment, despite market maturity. Vendors are differentiating themselves by offering provision of end-to-end services, using advancements in AI and generative AI (GenAI), and covering use cases for asset performance management (APM), asset lifecycle management and operational risk.
Summary for decision-makers
The state of the EAM software market
Digital transformation and cost-cutting initiatives drive spend on EAM software
Growth in spend on EAM software spurs acquisition and partnership activity
EAM software buyers demand the white-glove treatment from providers
EAM software vendors look to sharpen core capabilities through AI infusion
Green Quadrant for EAM software 2024
Green Quadrant methodology
Scope and methodology for the 2024 Green Quadrant EAM software study
Evaluated providers: selection criteria
Evaluation criteria for EAM software
Accruent overview
Analyst insight: Accruent’s Maintenance Connection is a solid EAM proposition for manufacturing firms
Brightly Software overview
Analyst insight: Brightly Software couples strong maintenance proposition with investment planning expertise
eMaint overview
Analyst insight: eMaint EAM delivers effective maintenance capabilities while tapping into the Fluke Reliability partnership ecosystem
Eptura overview
Analyst insight: Eptura’s EAM solution provides robust maintenance functionality with optional worktech modules
Hexagon overview
Analyst insight: HxGN EAM offers an integrated platform spanning the asset management landscape
Hitachi Energy overview
Analyst insight: Hitachi Energy delivers an integrated EAM, APM and FSM suite of solutions to utilities and transportation firms
IBM overview
Analyst insight: IBM’s market-leading EAM suite interweaves maintenance, procurement and performance with trailblazing AI
Ideagen overview
Analyst insight: Ideagen provides an integrated asset, safety and quality management platform for highly regulated industries
IFS Ultimo overview
Analyst insight: IFS Ultimo targets European manufacturers with tiered pricing and industry-specific EAM solution
Pragma overview
Analyst insight: Pragma provides comprehensive EAM software and services, with plans to expand to North America and Southeast Asia
Ramco Systems overview
Analyst insight: Ramco offers a comprehensive EAM solution within a well-integrated ERP suite to Asian manufacturers
SAP overview
Analyst insight: SAP provides a robust EAM with strong ERP capabilities
ServiceNow overview
Analyst insight: ServiceNow delivers a strong maintenance management proposition for field workers via its AI-infused platform
UpKeep overview
Analyst insight: UpKeep’s mobile-first EAM software boasts top-notch UI
The state of the EAM software market
Digital transformation and cost-cutting initiatives drive spend on EAM software
Growth in spend on EAM software spurs acquisition and partnership activity
EAM software buyers demand the white-glove treatment from providers
EAM software vendors look to sharpen core capabilities through AI infusion
Green Quadrant for EAM software 2024
Green Quadrant methodology
Scope and methodology for the 2024 Green Quadrant EAM software study
Evaluated providers: selection criteria
Evaluation criteria for EAM software
Accruent overview
Analyst insight: Accruent’s Maintenance Connection is a solid EAM proposition for manufacturing firms
Brightly Software overview
Analyst insight: Brightly Software couples strong maintenance proposition with investment planning expertise
eMaint overview
Analyst insight: eMaint EAM delivers effective maintenance capabilities while tapping into the Fluke Reliability partnership ecosystem
Eptura overview
Analyst insight: Eptura’s EAM solution provides robust maintenance functionality with optional worktech modules
Hexagon overview
Analyst insight: HxGN EAM offers an integrated platform spanning the asset management landscape
Hitachi Energy overview
Analyst insight: Hitachi Energy delivers an integrated EAM, APM and FSM suite of solutions to utilities and transportation firms
IBM overview
Analyst insight: IBM’s market-leading EAM suite interweaves maintenance, procurement and performance with trailblazing AI
Ideagen overview
Analyst insight: Ideagen provides an integrated asset, safety and quality management platform for highly regulated industries
IFS Ultimo overview
Analyst insight: IFS Ultimo targets European manufacturers with tiered pricing and industry-specific EAM solution
Pragma overview
Analyst insight: Pragma provides comprehensive EAM software and services, with plans to expand to North America and Southeast Asia
Ramco Systems overview
Analyst insight: Ramco offers a comprehensive EAM solution within a well-integrated ERP suite to Asian manufacturers
SAP overview
Analyst insight: SAP provides a robust EAM with strong ERP capabilities
ServiceNow overview
Analyst insight: ServiceNow delivers a strong maintenance management proposition for field workers via its AI-infused platform
UpKeep overview
Analyst insight: UpKeep’s mobile-first EAM software boasts top-notch UI
Figure 1. EAM software provider landscape
Figure 2. Change in operational excellence spend for the next 12 months
Figure 3. Factors driving the digital transformation of plant operations
Figure 4. Industrial technologies to achieve net zero goals
Figure 5. Key EAM transactions over the last two years
Figure 6. Perceived effects of generative AI on industrial operations
Figure 7. Technical capabilities criteria for EAM software
Figure 8. Functional capabilities criteria for EAM software
Figure 9. Momentum criteria for EAM software
Figure 10. Vendor category scores (technical capabilities)
Figure 11. Vendor category scores (functional capabilities)
Figure 12. Vendor category scores (momentum)
Figure 13. Green Quadrant for EAM software 2024
Figure 2. Change in operational excellence spend for the next 12 months
Figure 3. Factors driving the digital transformation of plant operations
Figure 4. Industrial technologies to achieve net zero goals
Figure 5. Key EAM transactions over the last two years
Figure 6. Perceived effects of generative AI on industrial operations
Figure 7. Technical capabilities criteria for EAM software
Figure 8. Functional capabilities criteria for EAM software
Figure 9. Momentum criteria for EAM software
Figure 10. Vendor category scores (technical capabilities)
Figure 11. Vendor category scores (functional capabilities)
Figure 12. Vendor category scores (momentum)
Figure 13. Green Quadrant for EAM software 2024
Fortive, Q-mation, US National Oceanic and Atmospheric Administration (NOAA), Eptura, Poka, IFS Ultimo, National Highways UK, Royal Vopak, Falkonry, UpKeep Maintenance Management, Rockwell Automation, Sempra, Microsoft, Azima DLI, Eagle Technology, San Diego Gas & Electric (SDGE), Quaker Houghton, VINCI Airports London Gatwick, Slack Technologies, International Organization for Standardization (ISO), Rigado, eMaint, US National Nuclear Security Administration (NNSA), Maxpanda, Jowat SE, Cenosco, CERN, Oracle, Maxwell Cfm, Itus Digital, Southern Power, Hexagon, US Federal Risk and Authorization Management Program (FedRAMP), Fulcrum, Thorne Health, Torc Robotics, Zebra Technologies, Workday, Oniqua, Daikin, Hitachi Energy, Envecon, KloudGin, Pragma, Rombit, ServiceChannel, DevonWay, BASF, RedEye, Enhesa, Idaho National Laboratory, Aruba, 4Sight, New York Power Authority (NYPA), Mingo Smart Factory, Verusen, Ramco Systems, Entergy, InfoConsulting, MaintainX, SAP, Atonix Digital, Hutchison Ports ECT Rotterdam, Brightly Software, Bayer, Prometheus Group, Condeco Group, ServiceNow, Hungrana, Crestron Electronics, XMReality, CENIBRA, Norske Skog Australasia, Accruent, Alliant RIGSERV, Aecus, KPMG International, Syntegon Technology, Afrimat, Infor, Salesforce, Augury, Crown Holdings, MJB Wood Group, MaxGrip, AVEVA, Thoma Bravo, Ideagen, Augmentir, iOFFICE, IBM, Shell, Equinor, Jupyter, Siemens, Python, Pepsi Bottling Ventures, Autodesk, Copperleaf Technologies, TMA Systems, NVIDIA, OneLogin, Deloitte, Tata Consultancy Services, Amazon Web Services (AWS), SpaceIQ, STP Compliance EHS, Unilever, Okta, Aptean, enlighten technologies, P2 Energy Solutions, Fluke Corporation, Esri, SSG Insight, Toyota, On Key, Advanced Micro Devices (AMD), Sydney Trains (Australia), EDF Energy
About the Authors
Hugo Fuller
Senior Analyst
Hugo is a Senior Analyst in the Verdantix Industrial Transformation practice. His current research agenda explores the technologies within the industrial asset management soft…
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Malavika Tohani
Research Director
Malavika is a Research Director at Verdantix, guiding research that explores how digital technologies and services are reshaping industrial operations to become safer, more ef…
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