The LAMEA EAM market is estimated to grow significantly during the forecast period. Energy & utility and IT sectors in Latin American economies are primarily driving the EAM market. Whereas, in the MEA region, the energy & utility sector is surging the EAM market growth. The surge in the electricity generating capacity of the economies adds assets to the electricity generating company including solar farms, windmills, and many others. This will lead to an increase in the adoption of EAM solutions to manage and monitor their assets to improve the efficiency of the company. Apart from these verticals, various other verticals such as BFSI, retail, healthcare, and government are creating demand for EAM and hence driving the market growth. Furthermore, the increasing penetration of cloud-based services across major economies of the region is creating considerable growth opportunities for the EAM market.
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LAMEA EAM market is segmented on the basis of deployment and vertical. Based on deployment, the market is bifurcated into on-premise and cloud-based EAM solutions. Among these, on-premise EAM solutions held the highest market share in 2019. Energy and utilities, government and defense, manufacturing, transportation, and logistics industry mostly prefer on-premise EAM solutions as this solution is more customizable as compared to cloud-based EAM, thus, it fulfills the requirements of all end-users. Further, on-premise EAM solutions may also be less vulnerable to global cyber threats as on-premise EAM set-up is support by experienced IT professionals, hence, the data security can be handled internally. Based on vertical, the market is segmented into BFSI, retail, energy & utility, healthcare, government, IT & telecom, and others such as manufacturing, transportation, metal & mining, machinery, and construction.
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Some of the global companies operating in the LAMEA EAM market include IBM Corp., Oracle Corp., Microsoft Corp., Infor, SAP SE, and others. The market players are considerably contributing to market growth by adopting various strategies to stay competitive in the market.
Market Segmentation
LAMEA EAM Market by Deployment
- On-Premises
- Cloud-Based
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