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.
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
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:
- Cloud-Based CMMS Software.
- Web-based CMMS Software.
- 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:
- Large businesses.
- Medium-sized businesses.
- 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:
- Industrial & Manufacturing
- Education and Administration
- 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:
- North America
- 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.