A recent market study published by Future Market Insights (FMI) on the Computerized Maintenance Management System (CMMS) market includes a global industry analysis for 2016-2020 and opportunity assessment for 2021-2031, and delivers a comprehensive assessment of the most important market dynamics. After conducting a thorough research on the historical as well as current growth parameters, growth prospects of the market are obtained with maximum precision.
The global computerized maintenance management system (CMMS) market is expected to reach a valuation of US$ 2.75 Mn by 2031. The increasing demand for CMMS software among small and mid-sized businesses and rising adoption of asset monitoring solution in energy and utilities sector are fuelling the demand for CMMS solutions.
Increasing demand for web-based and cloud-based CMMS software within manufacturing, healthcare and other end-use industries is accelerating the growth of CMMS market. Growing demand for asset monitoring, advent of Internet of Thinking (IoT), artificial intelligence (AI), and smartphones have made the adoption of CMMS software easy, accessible and affordable to the small and medium sized enterprises (SME) in every industry.
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Bulk of data and assets require real-time monitoring for maintenance, managing inventory and audit & certification. Cloud-based CMMS software provide real-time data monitoring with the help of AI and IoT, making it easy for SMEs to maintain and process. Hence, adoption of cloud-based CMMS software in SMEs across manufacturing, transportation & logistics, retail, and other end-use industries is increasing exponentially.
“CMMS providers are adopting AI and data science to develop advanced cloud-based software with real-time predictive analysis, minimizing human interference while providing the service seamlessly,” says the FMI analyst
- By enterprise size, small & medium enterprises (SME’s) are expected to dominate the market
- Surging demand for cloud-based CMMS software is expected to foster sales through 2031
- Manufacturing industry is expected to remain the primary end-user of CMMS
- CMMS market in the U.S. is expected to grow at 8.6% CAGR, accounting for the most lucrative markets in North America
- Increasing focus on advanced technology across the U.K. is expected to spur the CMMS sales at the rate of over 11.7%
- China is expected to be the largest manufacturer in terms of production output and will reach a valuation of US$ 157.4 million
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IBM Corporation, Rockwell Automation, Fluke Corporation, MicroMain Corp., Infor, Maintenance Corporation(Accruent), Hippo CMMS, Limble CMMS, Mobility Work, DIMO Software, MPulse Software Inc., FasTrack SoftWorks Inc., CMMS Data Group, Letosys, QuickFMS, Cryotos, SIERRA ODC Private Limited, Piqo Tech Software Solutions Pvt. Ltd., and IFS among others are some of the prominent CMMS providers profiled by Future Market Insights. Leading CMMS providers are reliant on strategic collaborations and partnerships to strengthen their position in the industry.
More Insights on the Global Computerized maintenance management system Market
In its latest report, Future Market Insights provides an exhaustive analysis on the key growth drivers and factors affecting the global computerized maintenance management system market over the forecast period of 2021 and 2031. To gain a better understanding on the markets’ key segments and sub-segments, FMI has segregated the market on the basis of solution (CMMS software, cloud-based/web-based, on-premises, service, consulting service, integration & implementation service, support & maintenance services), enterprise size (small & medium enterprise and large enterprises), industry (manufacturing, transportation & logistics, retail & CPG, education, hospitality, healthcare, energy & utilities, government and others), and regions (North America, Latin America, Europe, East Asia, South Asia Pacific, and Middle East & Africa)
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Key Questions Covered in the Report
- How will the demand of CMMS will evolve in the future?
- Which segment is expected to remain lucrative throughout the forecast period?
- What are the key drivers will impact the computerized maintenance management system market?
- What are the challenges that will impact the CMMS market demand?
- Which region will remain the most lucrative through 2031?
- What is the impact of Covid-19 on computerized maintenance management system market?
COVID-19 Impact Analysis on CMMS Market
The COVID-19 pandemic has clearly divided individual’s needs into essentials and non-essentials. Utilities – electricity, gas, and water – fall firmly in the first category. As these industries are the key part of a nation’s economy, as other industries depend on it to serve the needs of every common man. Power, utilities & renewables (PU&R) companies are continuously focusing on keeping their assets on-line and providing safe, reliable supplies of electricity and natural gas during the pandemic.
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