Indian EAM market is estimated to grow significantly at a CAGR of around 14.5% during the forecast period. The market mainly driven due to rising industrialization, the increasing IT & telecom sector, huge demand for energy and power, government focus toward renewable energy, growth in healthcare facilities & medical tourism along with the growth in the generic drug manufacturing. In the Energy & Power sector, the country is one of the largest consumers all across the globe. The oil imports of the country were near to $87 billion in 2017-18 as compared to $70 billion in 2016-17. Moreover, the government is also aiming to overshoot the target by installing 225 GW by 2022. Besides, the government has planned to establish a renewable energy capacity of 500 GW by 2030. Hence, a significant demand for asset management in the energy sector can be witnessed in the upcoming period in the country.
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Indian EAM market is segmented on the basis of deployment and vertical. Based on deployment, the market is bifurcated into on-premise and cloud-based EAM solutions. Among these, on-premise EAM solutions held the highest market share in 2019. Energy and utilities, government and defense, manufacturing, transportation, and logistics industry mostly prefer on-premise EAM solutions as this solution is more customizable as compared to cloud-based EAM, thus, it fulfills the requirements of all end-users.
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Further, on-premise EAM solutions may also be less vulnerable to global cyber threats as on-premise EAM set-up is support by experienced IT professionals, hence, the data security can be handled internally. Based on vertical, the market is segmented into BFSI, retail, energy and utility, healthcare, government, IT & telecom, and others (manufacturing, transportation, metal and mining, machinery, and construction).
The companies which are contributing to the growth of the Indian EAM market include ABB Ltd., Fujitsu Ltd., IBM Corp., Oracle Corp., Microsoft Corp., SAP SE and others. The market players are considerably contributing to the market growth by the adoption of various strategies including new product launch, merger, and acquisition, collaborations with government, funding to the start-ups and technological advancements to stay competitive in the market.
Indian Enterprise Asset Management Market Segmentation
Indian EAM Market by Deployment
Indian EAM Market by Verticals
• Banking, Financial Services and Insurance (BFSI)
• Energy & Power
• Government & Utilities
• IT & Telecom
Indian Enterprise Asset Management Market – Segment by Region
• United States
• United Kingdom
• Rest of Europe
• Rest of Asia-Pacific
Rest of the World
• Latin America
• Middle East and Africa
• ABB Ltd.
• ABS Group
• AVEVA Group PLC
• Aptean Holdings, Inc.
• Fujitsu Ltd.
• IBM Corp.
• Microsoft Corp.
• Oracle Corp.
• SAP SE
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