The computerized maintenance management system (CMMS) market is expected to expand significantly in the coming decade. By 2033, it’s anticipated to be worth around US$ 4.2 billion. This growth is estimated to occur at an average annual rate of approximately 9.1% from 2023 to 2033. In simpler terms, CMMS software and solutions are likely to become increasingly popular and widely used by businesses for maintaining their equipment and facilities over the next ten years.
The CMMS (Computerized Maintenance Management System) market plays a significant role in the worldwide asset management market, accounting for about 20% of it. This is because more and more smaller and medium-sized businesses are recognizing the value of CMMS software. Additionally, the energy and utility sector is also embracing CMMS software at a growing rate, which is further boosting the demand for these systems.
Exploring the Phenomenal Growth of the CMMS Market: Key Factors Driving Unprecedented Surge:
- Technological Advancements: The relentless evolution of technology, particularly in the fields of IoT (Internet of Things) and cloud computing, has catalyzed the CMMS market’s growth. These advancements enable organizations to implement more efficient maintenance practices, enhancing productivity and cost-effectiveness.
- Optimized Asset Management: In today’s highly competitive business landscape, organizations are recognizing the critical importance of asset management. CMMS solutions offer a streamlined approach to asset maintenance, allowing companies to maximize the lifespan of their equipment and reduce downtime, ultimately boosting profitability.
- Predictive Maintenance: The adoption of predictive maintenance strategies has gained significant traction in recent years. By harnessing data analytics and machine learning, CMMS solutions empower businesses to predict equipment failures before they occur, ensuring uninterrupted operations and minimizing operational expenses.
- Regulatory Compliance: Stringent regulatory requirements in various industries, such as healthcare and manufacturing, have propelled the adoption of CMMS solutions. These systems assist organizations in meeting compliance standards, reducing the risk of penalties and operational disruptions.
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Key Takeaways from Computerized Maintenance Management System (CMMS) Market Report:
- The global CMMS market is estimated to register a CAGR of 9.1% during the forecast period of 2023-2033
- The U.S. has remained an early adopter of the latest technologies. It also exhibits an increasing uptake of CMMS software and services, accounting for over 80% of North American market
- Expansion of the energy and utilities sector will drive sales in the U.K., enabling y-o-y growth at 10.1% in 2021
- China will continue leading the East Asia market on the back of consistently rising manufacturing activities
- Increasing investment in modern technologies will pave the way for expansion in India
“A CMMS software plays a critical role in an industry’s move from reactive maintenance to proactive to predictive maintenance. Integration of AI and IoT with CMMS solution will create huge opportunities for software vendors” says FMI Analyst.
Emergence of Mobile CMMS Software Solutions:
The biggest breakthrough in the CMMS software industry is the emergence of mobile CMMS software solutions. Energy and utility providers that have implemented the mobile CMMS solutions have achieved a 40% improvement in productivity. Working with mobile CMMS software solutions increases stability, performance, and functionality.
Through mobile CMMS, technicians can create, retrieve, update, and close work orders from anywhere. Any smartphone, mobile device, or internet-enabled device is used to retrieve the CMMS database in real time. Instant access to work orders provides technicians the freedom to prioritize work orders based on location, saving the organization time and money. Moreover, it is used to add specific details to a work order from the job site, increasing the accuracy and timeliness of the information being added to the maintenance database.
Key Players in the Computerized Maintenance Management System (CMMS) Market:
- Zunaso
- MicroMain Corp.
- Infor
- IBM Corporation
- Rockwell Automation (Fiix, Inc.)
- Fluke Corporation
- Accruent
- Hippo CMMS
- Limble CMMS
- Mobility Work
- UpKeep
- ManagerPlus Solutions, LLC (iOFFICE)
- JDM Technology Group
- Siveco Group SA
- MaintainX Inc.
- Dude Solutions Inc.
- eMaint
- MPulse Software, Inc.
- FasTrak SoftWorks, Inc.
- QuickFMS
- Cryotos
- IFS
- DIMO Software
- CMMS Data Group
- Letosys
- SIERRA ODC Private Limited
- PiqoTech Software Solutions Pvt. Ltd.
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Computerized Maintenance Management System (CMMS) Market Segmentation:
By Solution:
- CMMS Software
- Cloud-based
- Web-based
- On-Premises
- Service
- Consulting Services
- Integration & Implementation Services
- Support & Maintenance Services
By Enterprise Size:
- Small & Medium Enterprises (SMEs)
- Large Enterprises
By Industry:
- Manufacturing
- Transportation & Logistics
- Retail & CPG
- Education
- Hospitality
- Healthcare
- Energy & Utilities
- Government
- Others
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia & Pacific
- Middle East and Africa (MEA)
About Future Market Insights (FMI):
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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