This IDC study examines the market for enterprise asset management software, which is forecast to grow at a rapid pace (at a 6.9% CAGR, it is expected to reach $2.35 billion by 2019), driven by demand for public cloud offerings and industrial Internet of Things (IIoT). Demand for public cloud (16.0% CAGR) is clearly outpacing demand for on-premises/other software (1.3% CAGR), but the on-premises/other software segment remains significant as medium-sized and large enterprises are choosing to maintain existing software rather than disrupt the critical business processes surrounding the management of equipment, facilities, fleets, and other strategic assets."Enterprise asset management solutions have moved rapidly to the cloud as asset-intensive organizations leverage the industrial Internet of Things to manage risk, strategy, and the performance of the equipment, fleets, and facilities critical to running their business. Increasingly, organizations are using asset-centric networks to collect network-based information — from the viewpoint of any node, application, or asset on the network — that can be used to make decisions," says Christine Dover, research director, Enterprise Applications and Digital Commerce.
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