Enjoy complimentary customisation on priority with our Enterprise License!
The Computerized Maintenance Management System (CMMS) Market size is forecast to increase by USD 864.67 million, at a CAGR of 9.74% between 2023 and 2028. The growth rate of the market depends on several factors, including the growing focus to prevent downtime with cost-effective solutions, the increasing penetration of digital technologies such as IoT and artificial intelligence, and the growing focus on improving business efficiency. A computerized maintenance management system, also called CMMS, refers to software that helps manage assets, schedule maintenance, and track work orders by maintaining a database of information about an organization's maintenance operations.
The report offers extensive research analysis on the Computerized Maintenance Management System (CMMS) Market, with a categorization based on Deployment, including on-premise and cloud. It further segments the market by End-user, encompassing large enterprises and small and medium enterprises. Additionally, the report provides Region segmentation, covering APAC, Europe, North America, Middle East and Africa, and South America. Market size, historical data (2018-2022), and future projections are presented in terms of value (in USD million) for all the mentioned segments.
For More Highlights About this Report, Download Free Sample in a Minute
One of the key factors driving the computerized maintenance management system market growth is the growing focus on preventing downtime with cost-effective solutions. Computerized maintenance management systems enable monitoring of future system failures, thereby facilitating scheduling maintenance in advance for increasing productivity. Increasing awareness about predictive maintenance is supporting market growth. In addition, industries and related companies are looking for a better alternative to reactive and preventive maintenance.
Moreover, the adoption of industrial predictive maintenance can lead to major cost savings owing to the higher predictability and availability of machines and systems. In addition, a computerized maintenance management system also helps in minimizing inventory cost and downtime as it offers a cost-effective solution to save money, assets, and lives, and prevent operational failures by registering information model, serial number and equipment class, Availability of meters, sensors such as IoT, Location and position, Performance, and downtime statistics. Therefore, it is positively impacting the computerized maintenance management system market. Hence, such factors are driving the market growth during the forecast period.
A key factor shaping the computerized maintenance management market growth is the increasing demand for cloud-based systems. The increase in demand for cloud-based is predominantly due to the lowered up-front costs and implementation time. In addition, it eliminates the need for procurement and installation of hardware. Furthermore, a cloud-based computerized maintenance management system is also capable of providing various other business benefits, such as process alignment and system security, reliability, scalability across an organization, and access to applications by users, employees, and partners from anywhere and any place.
Moreover, a cloud-based computerized maintenance management system also eliminates the need for a dedicated IT support team for maintenance and updates of software and avoids the necessity of server, storage, and computing resources for global organizations. In addition, cloud-based systems enable organizations to execute their business strategies effectively and focus on core operations without focusing on increasing IT costs. Therefore, it is positively impacting the computerized maintenance management system market. Hence, such factors are driving the market growth during the forecast period.
Lack of expertise and technical knowledge are some of the key challenges hindering the computerized maintenance management market growth. The shortage of skilled labor and niche skills in the management and operation of computerized maintenance management systems is a significant challenge for enterprises. In addition, a computerized maintenance management system helps prevent the failure of equipment with corrective or scheduled maintenance.
Moreover, this part of devising a correct and efficient model is a critical aspect of micro-segmentation deployment as it needs extensive domain knowledge. In addition, the complexity of a model is estimated to increase with the growing amount of historical data and computerized maintenance management system use cases. Furthermore, this is expected to result in management overhead and inefficiencies. Therefore, the adoption of a computerized maintenance management system needs an extensive amount of specialized training. Thus, it is negatively impacting the computerized maintenance management system market. Hence, such factors are expected to hinder the market growth during the forecast period.
The on-premise segment is estimated to witness significant growth during the forecast period. The on-premises segment of the global computerized maintenance management system market is fuelled by evolving business needs and technological advancements. In addition, on-premises is majorly used by large enterprises with a global presence to have more secure control and ownership of organizations. Furthermore, in this type of deployment, the software is owned by enterprises and is managed by service providers on on-premises.
Get a glance at the market contribution of various segments Download the PDF Sample
The on-premise segment was the largest segment and was valued at USD 522.91 million in 2018. Moreover, the major advantage of the on-premises deployment model is that it offers enterprises complete control over the functioning of computerized maintenance management system software. In addition, in the on-premises system, data can be accessed through the dedicated network, whereas in the cloud-based system, data can be accessed by multiple users, which makes it more vulnerable to security breaches. Furthermore, an on-premises computerized maintenance management system also offers various benefits, for instance, lower ongoing costs over time due to only the license fee. Hence, such factors are fuelling the growth of this segment which in turn drives the market growth during the forecast period.
The growing demand for computerized maintenance management systems in large enterprise segment will increase market growth. The large enterprise segment is embracing the digital transformation journey as it helps large enterprises to carry out smooth execution of the business process with cost-effectiveness. In addition, growing complexity due to the deployment of digital technologies such as IoT, artificial intelligence (AI), and big data makes it necessary for large enterprises to have a robust digital transformation framework in order to have seamless coordination, better adaptability, and data protection along the business operation. Moreover, the segment is expected to grow due to the increased transition to digital transformation in end-user industries such as BFSI, IT, and Retail. Hence, such factors are fuelling the growth of this segment which in turn drives the market growth during the forecast period.
For more insights on the market share of various regions Download PDF Sample now!
North America is estimated to contribute 36% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. The computerized maintenance management system market in North America is fuelled by the US and Canada as they are the most technologically advanced countries and pioneers in the adoption of business software globally. In addition, with the US being one of the global leaders in digital technology, the country records a high penetration of internet-enabled digital devices. Moreover, the regional market is also expected to grow due to the increasing deployment of digital technologies such as AI and big data analytics for effective management of assets, schedule maintenance, and tracking work orders. Hence, such factors are driving the market growth in North America during the forecast period.
Computerized Maintenance Management System Market forecasts include the adoption lifecycle of the market research and growth, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their computerized maintenance management system market growth and trends strategies.
Global Computerized Maintenance Management System Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Facilio Inc: The company offers computerized maintenance management system namely Legacy CMMS.
Fluke Corp: The company offers computerized maintenance management system namely eMaint CMMS.
Fortive Corp: The company offers computerized maintenance management system namely Accurent Maintenance Connection through its subsidiary Accurent.
The Computerized Maintenance Management System Market growth and forecasting report also includes detailed analyses of the competitive landscape of the market and information about 10 market companies, including:
Computerized Maintenance Management System Market market analysis and report of qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The computerized maintenance management system market research report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2018 to 2028.
Computerized Maintenance Management System Market Scope |
|
Report Coverage |
Details |
Page number |
149 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 9.74% |
Market Growth 2024-2028 |
USD 864.67 million |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
9.5 |
Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
Performing market contribution |
North America at 36% |
Key countries |
US, China, India, Germany, and the UK |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
BIG HDTC Canada ULC, CloudApper Inc., Facilio Inc., Fluke Corp., Fortive Corp., Fracttal Tech S L, International Business Machines Corp., iOFFICE LP, JDM Technology Group, Limble Solutions LLC, MaintainX Inc., Mobility Work SAS, PiqoTech Software Solutions Pvt. Ltd., Rockwell Automation Inc., SatNav Technologies, Siemens AG, SIERRA ODC Pvt. Ltd., Techgate LLC, TMA Systems LLC, and UpKeep Technologies Inc. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Deployment
7 Market Segmentation by End-user
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
Get lifetime access to our
Technavio Insights
Cookie Policy
The Site uses cookies to record users' preferences in relation to the functionality of accessibility. We, our Affiliates, and our Vendors may store and access cookies on a device, and process personal data including unique identifiers sent by a device, to personalise content, tailor, and report on advertising and to analyse our traffic. By clicking “I’m fine with this”, you are allowing the use of these cookies. Please refer to the help guide of your browser for further information on cookies, including how to disable them. Review our Privacy & Cookie Notice.