UK EAM market is estimated to grow significantly at a CAGR of around 9.9% during the forecast period. The various industries such as BFSI, energy, retail and others in the country are adopting digital technologies and with this, the dependency on online services such as the internet, cloud services, and IoT is rising continuously. With the increasing of this dependency, it is expected that the companies will increase their investment in cloud services and EAM solutions for better productivity and reducing cost. According to OCED, in UK, there were around 136,720 enterprises of all sizes in 2017. There was around 1,242 organization having more than 250 employees, whereas 6,095 enterprises with 50-249 employees. A high number of enterprises will create a demand for physical, technological resources across business units that further provide an opportunity for the EAM market as it can be used to manage all the resources in the business unit.
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The UK EAM market is segmented on the basis of deployment and vertical. Based on deployment, the market is bifurcated into on-premise and cloud-based EAM solutions. Among these, on-premise EAM solutions held the highest market share in 2019. Energy and utilities, government and defense, manufacturing, transportation, and logistics industry mostly prefer on-premise EAM solutions as this solution is more customizable as compared to cloud-based EAM, thus, it fulfills the requirements of all end-users. Further, on-premise EAM solutions may also be less vulnerable to global cyber threats as on-premise EAM set-up is support by experienced IT professionals, hence, the data security can be handled internally. Based on vertical, the market is segmented into BFSI, retail, energy and utility, healthcare, government, IT & telecom, and others (manufacturing, transportation, metal and mining, machinery, and construction).
The companies which are contributing to the growth of the UK EAM market include ABB Ltd., AVEVA Group PLC, Carl International SA IBM Corp., Oracle Corp., Microsoft Corp., SAP SE and others. The market players are considerably contributing to the market growth by the adoption of various strategies including new product launch, merger, and acquisition, collaborations with government, funding to the start-ups and technological advancements to stay competitive in the market.
UK EAM Market Segmentation
By Deployment
- On-premises
- Cloud-Based
By Verticals
- Banking, Financial Services and Insurance (BFSI)
- Energy & Power
- Healthcare
- Government & Utilities
- IT & Telecom
- Others
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