The global asset management software industry size was valued at USD 56.76 billion in 2022 and is expected to grow at a healthy CAGR of 11.1% during the forecast period 2023 to 2030. Technology leaders have sought automation products to streamline tasks, asset tracking, and foster organization’s performance. Additionally, sustainability concerns, aging assets, and climate issues have compelled incumbent players to invest in asset management tools. Industrial Internet of Things (IIoT) and sensorization have become instrumental in providing flexibility, while the prevalence of smartphones has prompted industry leaders to inject funds into asset management systems. Artificial intelligence and IoT have also been integrated into enterprise asset management (EAM) to help manufacturers implement intelligent recommendation systems.
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