Computerized Maintenance Management System Global Market Report 2023

(MENAFN- GlobeNewsWire - Nasdaq) New York, June 01, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Computerized Maintenance Management System Global Market Report 2023" -
, DPSI, Techgate Technologies LLC, Facilio, ManWinWin Software, and MATE PCS LLC.
The global computerized maintenance management system market is expected to grow from $1.11 billion in 2022 to $1.22 billion in 2023 at a compound annual growth rate (CAGR) of 10.3%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The computerized maintenance management system market is expected to reach $1.77 billion in 2027 at a CAGR of 9.8%.
The computerized maintenance management system market includes revenues earned by entities through preventive maintenance, predictive maintenance, labor and equipment management, scheduling and planning, inventory control, and work order management services.The market value includes the value of related goods sold by the service provider or included within the service offering.
Only goods and services traded between entities or sold to end consumers are included.
A computerized maintenance management system (CMMS) is software that streamlines maintenance operations and centralizes the maintenance data of a firm. It aids in maximizing the use and accessibility of tangible assets like machines, transportation, communications, plant infrastructures, and other assets of an organization.
North America was the dominating region in the computerized maintenance management system market in 2022. The regions covered in the computerized maintenance management system market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main deployments of computerized maintenance management systems are cloud and on premise.The cloud-based computerized maintenance management system refers to worldwide data centers containing servers, where it is used to enhance maintenance processes by offering ongoing monitoring, producing work orders, and maintaining assets in an organization for optimal working.
The various enterprise sizes are large enterprises and small and medium enterprises (SMEs). These are used for applications such as asset management, work order management, inventory management, preventive maintenance, and others and by various end users such as manufacturing, facility management, healthcare, education, government, and others.
The growth of small enterprises is expected to propel the growth of the computerized maintenance management system market going forward.Small enterprises refer to small manufacturing entrepreneurs with a limited number of employees.
Small enterprises required a computerized maintenance management system to expand their start-up companies quickly by reducing some of the risk and uncertainty associated with starting a business which is helpful for tracking maintenance, scheduling preventive maintenance, inventory management, asset tracking, and purchasing for the efficient operation of the business. For instance, in 2022, according to Small Business Administration (SBA), a US-based government agency, there are 33.2 million small businesses in the US, which account for 99.9 percent of all US businesses. Therefore, the growth of small enterprises is driving the growth of the computerized maintenance management system market.
Technological advancements are a key trend gaining popularity in the computerized maintenance management system market.Major companies operating in the computerized maintenance management system market are adopting new technologies to sustain their position in the market.
For instance, in November, Facilio, Inc, a US-based company operating in real-time facilities operations & maintenance (O&M) introduced a connected computerized maintenance management system (CMMS) to aid businesses in streamlining operations, cutting costs, and keeping up with changing client demands. The connected CCMS software platform combines all workflows for asset performance, client engagement, vendor management, workplace management, property maintenance, and IoT data to aid businesses in streamlining operations, cutting costs, and keeping up with changing client demands.
In March 2023, TMA Systems, a US-based software company acquired Maxpanda Technologies for an undisclosed amount.Through this acquisition, TMA Systems aims to strengthen its portfolio in maintenance management solutions for companies of all sizes to gain a competitive advantage in the market.
Maxpanda Technologies is a Canada-based provider of advanced Computerized Maintenance Management Systems (CMMS) and Enterprise Asset Management Solutions (EAMS).
The countries covered in the computerized maintenance management system market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The computerized maintenance management system market research report is one of a series of new reports that provides computerized maintenance management system market statistics, including computerized maintenance management system industry global market size, regional shares, competitors with a computerized maintenance management system market share, detailed computerized maintenance management system market segments, market trends and opportunities, and any further data you may need to thrive in the computerized maintenance management system industry. This computerized maintenance management system market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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