Computerized Maintenance Management Solutions Market: Latest Trend and Forecast

Posted by surendra choudhary on July 9th, 2019

Major players operating in the global computerized maintenance management solutions (CMMS) marketinclude Fiix Inc., NexGen Inc., Mapcon Technologies, Inc. MicroMain Corporation, Infor, Inc., ServiceChannel, Inc., IBM Corporation, eMaint Enterprises, LLC, mPulse Mobile Inc., Hippo CMMS, and Dude Solutions, Inc.

Data maintenance is important to any organization. Previously, maintenance data was stored on paper which was a time consuming and monotonous process. Computerized maintenance management solutions came into existence with the advancement in technologies. Computerized maintenance management solutions are also known as enterprise asset management. A computerized maintenance management solution is a computer software developed to simplify maintenance management of any organization.

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Computerized maintenance management solutions are used to maintain the assets during their life cycle life. This solution tracks all the processes which include maintenance, customer service requests, operational performance, and warehouse inventory in one place. Computerized maintenance management solutions are used for tracking work orders, scheduling tasks, dealing with external work requests, recording asset history, managing inventory, and audit and certification. These solutions generate or maintain electronic database of operations and accelerate work order completion rate, extend the service life of assets, increase worker productivity, eliminates paperwork, reduces overtime, and improves accountability and equipment reliability.

The global computerized maintenance management solutions (CMMS) market is driven by increase in the number of organizations, and rising demand for enhanced maintenance of operations. Rise in adoption of cloud/web-based technologies is another key factor propelling the computerized maintenance management solutions (CMMS) market globally. This is primarily because cloud-based solutions provide real-time visibility and enhance work order management. Additionally, increase in demand for reducing equipment downtime and maintenance costs is anticipated to boost the demand for computerized maintenance management solutions (CMMS) around the globe.

Furthermore, the need to maximize productivity and improve inventory management is projected to fuel the demand for computerized maintenance management solutions (CMMS) globally. Moreover, computerized maintenance management solutions (CMMS) support multi-language capabilities and provide better accountability, which is anticipated to drive the market growth in the near future. However, poor upgrade capability and lack of trained professionals is expected to restrict the growth of the market. Rise in adoption of predictive maintenance and cloud-based solutions among organizations due to their time-effectiveness are projected to create new opportunities for the computerized maintenance management solutions (CMMS) market in the next few years.

The global computerized maintenance management solutions (CMMS) market can be segmented based on component, deployment, enterprise size, maintenance type, application, and geography. In terms of component, the market can be bifurcated into solutions and services. The services segment can be divided into training services and implementation services. Based on deployment, the market can be segmented into on-premise and cloud-based. In terms of enterprise size, the market can be categorized into small and medium enterprises and large enterprises. Based on maintenance type, the market is classified into production maintenance, facility maintenance, fleet maintenance, and linear asset maintenance. In terms of application, the market can be classified into work orders tracking, maintenance activities scheduling, monitoring, and control maintenance.

In terms of geography, the global computerized maintenance management solutions (CMMS) market can be segmented into North America, Middle East & Africa, Europe, South America, and Asia Pacific. The computerized maintenance management solutions (CMMS) market in North America is anticipated to grow rapidly during the forecast period. Presence of established vendors in the region is expected to drive the market in North America. The market in Asia Pacific is projected to expand at a healthy CAGR during the forecast period. This is likely due to growing demand for computerized maintenance management solutions (CMMS) in countries such as India, China, and Japan. Furthermore, growing awareness among end-users about computerized maintenance management solutions (CMMS) are expected to create new opportunities for the market in Asia Pacific.