CMMS Market Size: Expectation vs Reality.

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The CMMS market accounts for 20% of the global asset management market. CMMS market size was valued in 2020 at 915 million USD. It is expected to reach 1750 million by 2028, growing at a CAGR of 8,45% from 2020 to 2028.

CMMS Market Size: Expectation vs Reality.

This is due to the increasing demand for CMMS software from small businesses and the growing acceptance of CMMS software in the energy and utility sector.

CMMS and Enterprise Asset Management (EAM) are asset management or maintenance systems. Both are expected to occupy the most significant aspect of the maintenance management systems market. 

CMMS software automates preventive maintenance planning, inventory management, and work order management. It also audits compliance and safety regulations. 

All these features will make the CMMS market size overgrow in the next few years. 

This blog discusses the global CMMS software size, growth, trends, and forecast.


Global Size Of CMMS Software Market

The computerized maintenance management system “CMMS” software is a package that maintains a computer database of information for an organisation’s maintenance activities. 

This data is designed to help maintenance personnel perform their jobs effectively, and managers make informed decisions. 

In addition, CMMS systems are found in power generation, oil and gas exploration, manufacturing, construction, transportation, and other foundational businesses. 

Enterprises are beginning to use CMMS extensively to enable better control and organisation of maintenance management. 

Due to improved innovation and increased competition, more and more companies are switching to CMMS instead of using traditional techniques for tracking and aggregating data. 

The more advanced the software, the more accessible it will be to a broader range of test laboratories. 

These factors increase the CMMS market, and the growth rate has risen through the years with the evolution of technology and industry. 


The Effect of Technology and Industry 4.0 on CMMS Market Size

CMMS Market Size In 2023 : Growth Opportunities and Future Outlook 2030

The Internet of Things (IoT) and Industry 4.0 are new industrial technologies. They changed the way machines collect and interpret data. 

IoT data feeds into the CMMS, where analysis is performed. The CMMS vendor is continuously developing advanced CMMS solutions to keep up and adapt its software to this new 4.0 technology evolution. 

Instead of manually collecting individual data points from multiple sources, the new generation of his CMMS will connect many industrial IoT devices to collect data to trigger actions and resolve issues.

The combination of CMMS and IoT presents excellent opportunities for both IoT manufacturers and CMMS providers. This combination keeps industrial companies running smoothly, increasing productivity and reducing downtime, increasing the CMMS market size.


CMMS Software Market Size Segmentations

CMMS market size is based on segmented categories. These categories are Type, Business size, Application, and Geography.


CMMS Software Market by Type

Based on type, the market is segmented into cloud-based CMMS software, web-based CMMS software, and on-premise CMMS software. 

The cloud-based sector is expected to be the fastest growing segment of the market as cloud applications can provide a user experience like a fully installed program on the local computer but with reduced resource requirements. 

A web-based CMMS software is a program that must be managed by allowing every computer in your organisation to be directly connected, protected, stored, and communicated with your complete IT team. 

So, it is preferable to use local CMMS software to run applications, configure networks for user access, and install upgrades and security patches as they become available.


CMMS market size by type from the most used to the least used in the following years will be as the following:

  1. Cloud-Based CMMS Software.
  2. Web-based CMMS Software.
  3. ON-Premises CMMS Software.


CMMS Software Market by Business Size

The market is classified into small, medium-sized, and large companies based on the business or company size. The large enterprise sector holds the largest market share in the market. 

Due to its low cost and technological features, CMMS can be used in any industry, from small businesses to large corporations.


CMMS market size by the business will be as the following:

  1. Large businesses.
  2. Medium-sized businesses.
  3. Small businesses.


CMMS Software Market by Application

It helps provide the tools to implement a complete maintenance management program for assets, equipment, etc. 

It tracks an unlimited number of devices and stores information about organised assets so you can find your data easily and quickly. 

Based on application, the market is segmented into industrial & manufacturing, aerospace, corporate real estate, education & government, healthcare, and others.


CMMS market size by the application will be as the following:

  1. Industrial & Manufacturing
  2. Aerospace
  3. HealthCare
  4. Education and Administration
  5. Corporate Real Estate


CMMS Software Market by Geography

The global CMMS software market is segmented geographically into North America, Europe, Asia, and the Rest of the World. 

The market’s growth in the region is attributed to growing business formations, emerging start-ups, internet availability, and consumer propensity towards digital solutions.

Countries like the United States, Canada, and Mexico are seeing a rise in start-ups. The United States had the highest number of start-ups and the largest CMMS market size. 

In addition, a strong ITC department in the country also contributes to software development and provides a viable environment for CMMS software development.


CMMS market size by Geography is arranged as the following:

  1. North America
  2. Europe
  3. Asia
  4. Rest of The World


FAQ about The CMMS Market Size

What opportunities are there for new CMMS market participants?

Establishing new companies and facilities in the global market is a significant opportunity in the CMMS market.


What is expected to drive the CMMS market size growth?

Introducing more cost-effective options to customers is a significant factor driving the growth of the CMMS market size.


What is the leading industry for the CMMS market?

The energy and utility segment will dominate the CMMS market during the forecast period and achieve the highest revenue among all industries by the end of 2032.

The expectation versus reality in the CMMS market size has been quite interesting. Initially, the expectation was for rapid growth, driven by the need for efficient maintenance solutions across industries. While the reality has seen substantial growth, it might not have matched some of the overly optimistic projections due to several factors:

  1. Adoption Rate: Initially, the expectation was that the adoption rate of CMMS would skyrocket across all industries. However, the reality is that while many industries have recognized the benefits, adoption rates have varied. Some sectors have been quick to embrace CMMS due to the clear ROI and necessity, while others have been slower due to budget constraints or hesitance to change established processes.
  2. Market Fragmentation: The CMMS market has seen a surge in the number of providers, leading to a fragmented landscape. While this gives consumers more choices, it also makes it challenging for individual providers to capture significant market shares, affecting the overall market size.
  3. Customization Needs: Industries often require tailored solutions to fit their specific needs. The expectation might have been for one-size-fits-all solutions, but the reality is that many organizations seek customization, which can slow down adoption as providers work to meet these diverse requirements.
  4. Legacy Systems and Integration Challenges: Many companies still operate with legacy systems or have complex infrastructure in place. Integrating CMMS with these existing systems can be challenging, slowing down the adoption rate.
  5. Education and Awareness: There might have been an overestimation of how quickly companies would understand the value proposition of CMMS. The reality is that education and raising awareness about the benefits of CMMS take time, affecting the speed of adoption.
  6. Market Maturation: While the CMMS market is growing steadily, the pace might not have matched some early predictions. This is often due to the time it takes for industries to fully understand, trust, and implement new technologies.

Overall, the CMMS market has certainly expanded and continues to do so, but the growth might not have met some of the initial exaggerated expectations due to challenges in adoption, market fragmentation, customization needs, and integration complexities. However, the reality is still a significant expansion of CMMS adoption across various industries as organizations increasingly recognize its value in optimizing maintenance operations.

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