South America Enterprise Asset Management (EAM) Market to Reach $802.1 Million by 2023
- Published: August 2018
The South American enterprise asset management market is expected to reach $802.1 million by 2023, according to P&S Intelligence.
The growth will be owing to the increasing focus of enterprises on reducing operating cost of assets as well as rising need for safeguarding the supply chain availability and visibility of businesses.
Insights on Market Segments
On the basis of components, the South American enterprise asset management market has been categorized into software, services, and solutions, of which software generated the highest revenue of $263.5 million, in 2017. This is attributed to the increasing need for effective management of enterprise resources and their assets in South America. However, the solutions category is expected to record highest CAGR, during the forecast period, owing to the increasing demand for better return on investment (ROI) on assets, as solutions provide a proactive approach for asset management.
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On the basis of industry, the South American enterprise asset management market has been categorized into government, oil and gas, healthcare, transportation and logistics, manufacturing, energy and utilities, and others, wherein ‘others’ include retail, and metal and mining. Of these, the energy and utilities category are projected to record highest growth, during the forecast period. This is attributed to the increasing government investments in power infrastructure in South America. The governments of Chile and Peru are increasing investments in renewable energy, which is assisting the market growth.
Browse report overview with 120 tables and 78 figures spread through 181 pages and detailed TOC on "South America Enterprise Asset Management (EAM) Market by Component (Software [Linear Assets, Non-linear Assets, Field Service Management {FSM}, Assets, Maintenance, Repair & Operations {MRO}], Services [Professional, Managed, Training & Support, Implementation], Solutions [Planning & Forecasting, Procurement of Material, Logistics & Inventory, Network Field Operations, Assets Transfer & Retirement]), by Deployment Type (On-premise, Cloud-based), by Industry (Government, Oil & Gas, Healthcare, Transportation & Logistics, Manufacturing, Energy & Utilities), by Enterprise Size (Small and Medium Enterprises [SMEs], Large Enterprises), by Geography (Brazil, Argentina, Chile, Peru, Colombia, Rest of South America) – South America Market Size, Share, Development, Growth, and Demand Forecast, 2013–2023" at:https://www.psmarketresearch.com/market-analysis/south-america-enterprise-asset-management-market
Market is Expected to Witness the Fastest Growth in Chile
During the forecast period, the South America enterprise asset management market is expected to continue witnessing the fastest growth in Chile, owing to favorable government policies and investments in sustainable energy sources. The emergence of the internet of things (IoT) and the benefits associated with enterprise asset management solutions to improve ROI are resulting in the considerable growth of the market in Chile.
Chile has a market-oriented economy recognized by high level of foreign trade and a reputation for strong financial institutions that have made it the sturdiest self-governing economy in South America. These factors lead to a significant enterprise asset management market growth in Chile.
Increasing Asset Utilization is a Key Growth Driver for the Market
Enterprises in South America are striving towards utilizing the assets for a longer period of time in a more effective and efficient way, which is expected to increase the demand for enterprise asset management.
An EAM system for asset utilization management includes asset inventory tracking, maintenance agreement management, tracking of meter readings and invoice charges, examination of trends in invoice payments and excess charges, and analysis of invoice and funding information. Through these, the enterprise asset management system generates a set of dedicated reports, which enables the decision-makers to compare invoice and expected billing amounts and view each asset or group of assets and detect unusual activity to reduce waste, fraud, and abuse.
The Multilatinas, the companies that became multinational after outgrowing their home markets, have witnessed a rise in their asset turnover ratio. The Multilatinas hailing from Brazil, Chile, Argentina, Columbia, Peru, and Mexico have a higher asset turnover ratio than the competitors in industries like steel, auto parts, food, engineering and construction, and petrochemicals. For instance, in sectors like oil and gas, Multilatinas companies’ have around 2.5 times the asset turnover ratio than the industry average. Thus, the increasing demand for asset utilization is supporting enterprise asset management market growth.
South America Enterprise Asset Management Market Competitiveness
Enterprise Asset Management in South America is a fairly emerging market, where companies like IBM Corporation, SAP SE, ABB Ltd., and Infor Inc. are major players. Companies in the enterprise asset management industry compete mostly on the basis of scalability, industry-specific customization, and after sales support.
Some of the key players operating in the South America enterprise asset management market are Schneider Electric SE, Oracle Corporation, IBM Corporation, SAP SE, ABB Ltd., Industrial and Financial Systems (IFS) AB, MRI Software LLC, CGI Group Inc., and Infor Inc.
South America Enterprise Asset Management Market Segmentation
Market Segmentation by Component
- Software
- Services
- Solutions
Market Segmentation by Deployment Type
- On-premise
- Cloud-based
Market Segmentation by Industry
- Government
- Oil and Gas
- Healthcare
- Transportation and Logistics
- Manufacturing
- Energy and Utilities
- Others (Retail, and Metal and Mining)
Market Segmentation by Enterprise Size
- Small and Medium Enterprises
- Large Enterprises
Market Segmentation by Country
-
Brazil Enterprise Asset Management Market
- By component
- By deployment type
- By industry
- By enterprise size
-
Argentina Enterprise Asset Management Market
- By component
- By deployment type
- By industry
- By enterprise size
-
Chile Enterprise Asset Management Market
- By component
- By deployment type
- By industry
- By enterprise size
-
Peru Enterprise Asset Management Market
- By component
- By deployment type
- By industry
- By enterprise size
-
Colombia Enterprise Asset Management Market
- By component
- By deployment type
- By industry
- By enterprise size
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Rest of South America Enterprise Asset Management Market
- By component
- By deployment type
- By industry
- By enterprise size