The Global Computerized Maintenance Management System Market size is expected to reach $1.8 billion by 2028, rising at a market growth of 9.9% CAGR during the forecast period.
The computerized maintenance management system or CMMS is software that centralizes maintenance data and streamlines maintenance operations. It aids in maximizing the use and accessibility of tangible assets, including machines, transportation, communications, plant infrastructures, and other assets.
CMMS systems, also known as computerized maintenance management information systems (CMMIS), are used in manufacturing, energy, transportation, building, and other sectors where physical infrastructure is essential. A CMMS database is its fundamental component.
The information regarding the assets that a maintenance organization is responsible for maintaining and the tools, supplies, and other resources needed to do so are organized using a data model. Data from CMMSs may also be utilized to confirm legal compliance. Information is needed to assess what is happening to regulate a facility's maintenance appropriately.
This takes a lot of time and effort to complete manually. A CMMS also enables record keeping and the timely and efficient tracking of tasks that have been assigned and accomplished. A CMMS can standardize and harmonize data within an HTM program, aid in monitoring and planning inspection and maintenance work, and schedule and track repairs. It can also be utilized to check equipment performance measures like the average time between failures, downtime, and maintenance costs for specific equipment or groups of equipment of a similar model, type, or manufacturer.
The COVID-19 pandemic has caused significant worldwide changes in many different industrial sectors. Due to the temporary suspension of corporate activities to comply with strict restrictions, the CMMS market has seen a sharp decline. On the other hand, it's interesting to note that the market has seen a rise in the healthcare sector due to the growing need for maintenance planning, workload optimization, and equipment maintenance to combat the pandemic. Year 2020 was predicted to be a down year for the CMMS industry as disruptions in the supply chain, retail, industrial, transportation, and logistics sectors restrain growth.
Industry 4.0 and the Internet of Things (IoT) are hot topics. The most recent industrial revolution is covered under industry 4.0. In addition, the way machines gather and analyze data has evolved due to AI and IoT. In CMMS, technology is becoming more prominent. For example, IoT devices are used all around a factory on substantial equipment devices and to monitor ambient conditions like temperature and humidity and gather data on other environmental parameters.
Since the industrial revolution, energy and utility suppliers have shifted their attention to bulk production, which requires industrial-scale management and organization. The need for technologies that can proactively monitor the maintenance management of plant machinery has risen due to this industrial transformation. The CMMS with AI may fill in the gaps here. With AI's rise and capacity to recognize temperature, vibration, and other elements from sensors placed into equipment and vehicles, many energy and utility companies are exploring all the prospects of predictive and preventive maintenance applications. This would support market expansion in the following years.
Conditions, dependability, or predictability may be the basis for maintenance. As a result, maintenance schedules may be inaccurate and not tailored to the unique needs of the various maintenance types if the CMMS software does not consider this. Deciding on the kind of maintenance is a complex process that calls for the assistance of the production and planning team. Industries with continuous processes are better equipped for dependability issues. As a result of having to overcome these challenges, many suppliers may decide against entering the market, which might limit the sector's ability to develop.
Based on deployment, the computerized maintenance management system market is divided into cloud and on-premise segments. The on-premises market for computerized management systems had the largest revenue share in 2021. A high degree of security is ensured by on-premises CMMS systems, which are set up and maintained on the company's IT infrastructure. On-premise systems often only have a one-time purchase expense and have lower long-term expenditures.
Based on the Enterprise size, the computerized maintenance management system market is segmented into Large Enterprises and small & medium enterprises. Large organizations previously quickly embraced the CMMS, but today SMEs are undergoing a similar shift. This software helps SMEs become more productive, which raises their profit margins. Since outsourcing maintenance is only sometimes cost-effective for SMEs, internal technical service providers want CMMS solutions that are nimble and effective to make their everyday job easier.
Based on end use, the computerized maintenance management system market is classified into manufacturing, facility management, healthcare, education, government, and others. The market for computerized maintenance management systems had a significant revenue share grabbed by the facility management sector in 2021. Integrating a computerized maintenance management system may have a significant positive impact on facility management (CMMS). The fact that it encourages greater predictive analytics and preventative maintenance practices is one of its key benefits.
| Report Attribute | Details |
|---|---|
| Market size value in 2021 | USD 969.9 Million |
| Market size forecast in 2028 | USD 1.8 Billion |
| Base Year | 2021 |
| Historical Period | 2018 to 2020 |
| Forecast Period | 2022 to 2028 |
| Revenue Growth Rate | CAGR of 9.9% from 2022 to 2028 |
| Number of Pages | 210 |
| Number of Tables | 360 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Market Share Analysis, Companies Strategic Developments, Company Profiling |
| Segments covered | Deployment, Enterprise Size, End-use, Region |
| Country scope | US, Canada, Mexico, Germany, UK, France, Russia, Spain, Italy, China, Japan, India, South Korea, Singapore, Malaysia, Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria |
| Growth Drivers |
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| Restraints |
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Based on geography, the computerised maintenance management system market is segmented into North America, Europe, Asia Pacific, and LAMEA. North America dominated the computerized maintenance management system market in 2021 by revenue share. The emergence of small and startup manufacturing centers around the area is anticipated to fuel market expansion due to rising technical improvements and well-established providers of CMMS software. In addition, emerging new-age technologies like AI, IoT, edge, analytics, and cloud are also crucial to the development of CMMS.
Free Valuable Insights: Global Computerized Maintenance Management System Market size to reach USD 1.8 Billion by 2028
The leading players in the market are competing with diverse innovative offerings to remain competitive in the market. The below illustration shows the percentage of revenue shared by some of the leading companies in the market. The leading players of the market are adopting various strategies in order to cater demand coming from the different industries. The key developmental strategies in the market are Acquisitions, and Partnerships & Collaborations.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include IBM Corporation, Fiix, Inc. (Rockwell Automation, Inc.), Accruent, LLC (Fortive Corporation), Limble Solutions, LLC, Facilio, Inc., EZMaintain(Techgate LLC), Fracttal Tech S.L, Hippo Facility Management Technologies, Inc. (Eptura, Inc.), Maxpanda CMMS, and MicroMain Corporation (JDM Technology Group Inc.)
By Deployment
By Enterprise Size
By End-use
By Geography
The global Computerized Maintenance Management System Market size is expected to reach $1.8 billion by 2028.
Industry 4.0 Development And The Launch Of The Current CMMS are driving the market in coming years, however, Complications For The Vendors restraints the growth of the market.
IBM Corporation, Fiix, Inc. (Rockwell Automation, Inc.), Accruent, LLC (Fortive Corporation), Limble Solutions, LLC, Facilio, Inc., EZMaintain(Techgate LLC), Fracttal Tech S.L, Hippo Facility Management Technologies, Inc. (Eptura, Inc.), Maxpanda CMMS, and MicroMain Corporation (JDM Technology Group Inc.)
The Large Enterprises segment acquired maximum revenue share in the Global Computerized Maintenance Management System Market by Enterprise Size in 2021 thereby, achieving a market value of $1.1 billion by 2028.
The North America market dominated the Global Computerized Maintenance Management System Market by Region in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $590.2 Million by 2028.
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