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by Diane Himes, MA Editorial Staff   | Abstract: | An industry update on the enterprise asset management (EAM) software space with links to Managing Automation's online product directory. |
 Following a period of waning interest in standalone enterprise asset management (EAM) applications over the last couple of years -- during which many EAM market leaders such as Datastream were acquired by large ERP vendors (Infor, in the case of Datastream) -- EAM seems to be making its way back to the forefront of manufacturers' minds. As their workers age and increasing numbers of services are outsourced, companies are facing the looming need to round up and optimize their asset management processes sooner rather than later. Other factors such as increasingly stringent regulatory and security requirements, as well as energy and environmental conservation efforts, are also bringing asset management back into focus. According to a recent study by research firm ARC Advisory Group, the worldwide market for EAM currently stands at $1.5 billion and is estimated to grow at a compounded annual growth rate of 7.6%, surpassing $2.1 billion in 2011. In addition to reasons like the ones mentioned above, ARC predicts continued consolidation in the EAM market will drive customers either to upgrade existing software or seek alternatives to meet their EAM/CMMS (computerized maintenance management system) requirements. As manufacturers react to a changing landscape, software vendors must keep up by providing functionality to meet modern needs. Technology
Anders Lif, global industry director for manufacturing at IFS, acknowledges the challenge vendors have had in adapting their development strategies to customers' changing environments. "As a supplier of software, [the EAM landscape] has changed. We used to deliver traditional maintenance systems and work with companies that were 'one' company," Lif says. [Click to continue] |