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This report helps executives at asset management software suppliers, current and prospective investors, as well as digital service providers and consultants active in the asset information management ecosystem, understand the forecast growth of the industrial asset management (IAM) software market. Based on a bottom-up analysis of revenues, interviews with software suppliers and survey data from 256 interviews with decision-makers at industrial firms, Verdantix finds that the IAM software market will grow from $7 billion in 2021 to $11 billion in 2026 at a CAGR of 10%, driven by digital transformation strategies and the need to reduce maintenance costs. Spend on enterprise asset management (EAM) software accounted for about half of the IAM market in 2021, and while the asset investment planning (AIP) software market only represented around 4% of total 2021 IAM software sales, it will witness the highest CAGR, of 13%, to 2026.
Table of contents
Industrial Asset Management Software Market Size And Forecast Methodology
An Overview Of The IAM Software Market
Market Size Data Are Calculated From Aggregate Supplier Revenues And Customer Penetration Rates
Market Forecast Is Influenced By Industry, Region And Market Trends
The IAM Software Market Thrives In The Vanguard Of Digital Transformation Strategies
IAM Software Market Was Worth $7 Billion In 2021
Cost-Cutting Strategies Shape The Growth Forecast Of The IAM Software Market
IAM Software Market Will Grow At A CAGR Of 10% To Reach $11.2 Billion In 2026
Table of figures
Figure 1. Definitions Of The Four Software Markets
Figure 2. Verdantix Market Size and Forecast Framework
Figure 3. Level Of Digital Maturity For IAM
Figure 4. Adoption of Industrial Software
Figure 5. IAM Software Market Size (2021): Product Breakdown ($ millions)
Figure 6. Drivers Of Investment In Asset Management Software In 2022 And 2023
Figure 7. Software Investment Plans For Asset Management In 2022
Figure 8. Market Dynamics And Outlook Of IAM Software Products
Figure 9. IAM Software Market Forecast: Product Breakdown
Figure 10. IAM Software Market Forecast: Industry Breakdown
Figure 11. IAM Software Market Forecast: Regional Breakdown
Organisations mentioned
ABB,
Accruent,
ARMS Reliability,
AVEVA,
Bentley Systems,
Bently Nevada,
C3 AI,
GE Digital,
Hexagon,
IBM,
Itus Digital,
Metegrity,
NuGen Automation,
Opus One Solutions,
Oracle,
Power Line Systems,
SAP,
Seeq,
Siemens,
Statista,
Symphony Industrial AI,
Ultimo
About the authors
Senior Analyst
Victor is a Senior Analyst in the Verdantix Operational Excellence practice. His research agenda focuses on asset management solutions and their overlap with industrial risk management technologies and digital twins. His advisory portfolio includes go-to-market, growth strategy, commercial due diligence and digital strategy projects for corporates, vendors and investors. Prior to joining Verdantix, Victor was a research associate at Imperial College London and Massachusetts Institute of Technology, providing engineering advisory services for clients in the energy industry (oil & gas, nuclear and solar). Victor holds a PhD in Process Engineering from University College London.
Research Director
Malavika leads the Verdantix Operational Excellence practice. Her current research agenda focuses on digital technologies for Operational Excellence including digital twins and software solutions for industrial risk and asset management. Malavika has over 15 years’ experience in research and strategy consulting. Malavika previously worked at Frost & Sullivan, managing and delivering advisory projects for clients involving expansion, acquisition, benchmarking and product development strategies. Malavika holds a MSc in Economics from Madras School of Economics.