Enterprise Asset Management (EAM) systems have become a primary enabler of digital transformation for asset management among industrial companies, new ARC Advisory Group research shows.
EAMs helps manufacturers achieve their business goals by combining traditional maintenance management strategies with new digital technologies for transformation advances in reliability, maintenance execution, and business performance.
“The enterprise asset management market is experiencing strong growth for several reasons, most notably because of the business benefits available with modern EAM and APM capabilities. This translates into expanded capabilities for improved uptime, asset longevity, and cost control with reduced unplanned downtime,” Inderpreet Shoker, research director and an author of ARC’s research.
“Modern EAM systems support APM across the asset management functions including reliability, inspections, maintenance, and engineering, and into operations,” Shoker added in an ARC Advisory Group release. “Synergies across these functions enables new forms of digital transformation with improved operational performance.”
More trends in EAMs, as identified by the ARC Advisory Group research, include: adoption of mobile devices; advanced analytics and machine learning; connected assets; and software-as-a-service (SaaS) and cloud adoption. The research also identified leading suppliers of EAMs, including Hexagon, Hitachi Energy, IBM, IFS, and SAP.