The worldwide market for enterprise asset management (EAM/CMMS) software is expected to grow at a compounded annual growth rate (CAGR) of 6.5% over the next five years, says a study from ARC Advisory Group entitled Enterprise Asset Management (EAM/CMMS) Worldwide Outlook. The market was $1.34 billion in 2007 and is forecasted to be more than $1.8 billion in 2012.
A strong manufacturing sector with high demand for commodities and energy has allowed many companies to increase maintenance and capital expenditure budgets. However, some remain cautious as a slow global economy threatens growth prospects. Still, spending for asset management software and services has remained healthy in most regions.