Computerized Maintenance Management System Market Size, Share & Trends Analysis Report By Deployment, By Enterprise Size, By End-use, By Region, And Segment Forecasts, 2023 - 2030

Report Overview

The global computerized maintenance management system market size was valued at USD 1.06 billion in 2022 and is expected to expand at a compound annual growth rate (CAGR) of 10.9% from 2023 to 2030. The market rise is attributed to government spending on infrastructure projects, the rise of SMEs, the rapid adoption of digital services, and growing IT spending.

In addition, the emergence of new technologies such as the internet of things (IoT), artificial intelligence (AI), and analytics to offer valuable insights, cloud services, and the need for asset-intensive industries to extend asset life and delay capital investments also contribute to the market growth. Moreover, the COVID-19 pandemic led to the inability to travel and cross borders, which pushes businesses to rethink their current way of doing things, including their asset management options. Increasing compliance regulations and health and safety are also driving the market growth.

Market share for cloud-based CMMS has increased rapidly in recent years. Several factors facilitate the growth of cloud-based remote solutions. These driving factors include empowering companies to access the software via remote access, regular feature updates, quick implementation, low in-house IT staff requirement, and low upfront investment, among many others. Moreover, the bulk of data and assets require real-time monitoring for maintenance, managing inventory, and auditing

The Cloud-based software provides real-time data monitoring with the help of artificial intelligence (AI) and the Internet Of Things (IoT) to develop predictive analysis, minimizing human interference while providing seamlessly. The implementation of cloud-based systems continues to result in large growth for companies. For instance, in January 2022, Industrial and Financial Systems (IFS), a CMMS provider, announced its financial result for December 2021. The company witnessed a 22% growth in software revenue in 2021, with cloud revenue witnessing strong growth at a 105% increase year on year despite COVID-19. The most significant contributor to the growth was the launch of the IFS cloud service in March 2021.

Nowadays, the cloud-based computerized maintenance management system (CMMS) comes equipped with a mobile CMMS system to eliminate paperwork and allows technicians to access all their tasks in real time by receiving instant notifications. It also embeds some additional features such as operations in offline mode, instant push notifications, speed-to-text diction, and QR and barcode scanner to quickly pull up information. For instance, in April 2022, MobilityWork, a CMMS software provider, introduced 3D imaging in the mobile application to remotely visualize a complete view of equipment. 3D visualization works through the implementation of internet of things (IoT) sensors.

Apart from the above features, CMMS helps track a wide range of key performance indicators (KPI), including maintenance costs, equipment uptime, and work order completion rates. By monitoring and analyzing KPIs, users can make informed decisions about how to improve maintenance operations. Moreover, COVID-19 accelerated CMMS usage across many industries such as manufacturing and plants, food and beverage, Facility Management, and many others.

For instance, in March 2021, UpKeep, a Computerized Maintenance Management System (CMMS) vendor, released its State of Maintenance 2021 Report. A survey was carried out among 1,000 maintenance and facilities professionals in 18 industries in 73 countries. It stated that COVID-19 accelerated the digital transformation in maintenance and reliability teams. 66% of participants reported usage of CMMS to track work orders. Furthermore, maintenance teams surveyed reported major adoption of CMMS software during the COVID-19 pandemic.

Deployment Insights

The on-premise segment accounted for the largest market share of over 55% in 2022. On-premises CMMS solutions are installed and managed on the organization's internal IT infrastructure, ensuring a high level of security. The on-premise system usually requires only a one-time purchase fee, while simultaneously reducing costs over time. Local servers usually power on-premises solutions, which means speed can be changed and controlled, offering much-needed flexibility to all organizations.

The cloud segment accounted for a considerable revenue share in 2021. Due to faster Internet speeds, cheaper database storage, and the advent of smartphones and tablets, cloud-based software is now viable. Cloud-based software offers automatic updates included in the subscription, so enterprises always have the most up-to-date version of the Computerized Maintenance Management System (CMMS) at no additional charge. Furthermore, a cloud-based Computerized Maintenance Management System (CMMS) offers increased flexibility and scalability based on your current needs and bandwidth. In comparison to on-premise software, cloud-based ones are much faster, and users can set up and enter the software in a significantly shorter time.

Enterprise Size Insights

The large enterprise segment accounted for the largest market share of over 60% in 2022. Large enterprises require CMMS solutions to manage preventive maintenance from the factory to warehouse machinery. Large businesses reap major benefits by implementing a CMMS, as downtime can be extremely expensive for businesses. The Computerized Maintenance Management System (CMMS) software can be installed at different locations in a large corporation because it can be implemented in many languages. Maintaining inventory in large enterprises can be crucial for meeting client and customer requirements on time. Therefore, with the help of CMMS software, large organizations can manage and track their inventory automatically.

The small & medium enterprises (SMEs) segment is anticipated to register significant growth during the forecast period. The CMMS was swiftly adopted by large companies earlier, but now SMEs are on their way to a similar transformation. SMEs are using this software to increase their productivity, which results in higher profit margins. Internal technical service providers need CMMS solutions that are agile and efficient to facilitate their daily work since outsourcing maintenance is not always economical for SMEs. CMMS is often connected via a mobile application, so SMEs can manage their intervention schedule and report data easily.

End-use Insights

The manufacturing segment accounted for a considerable market share of over 20% in 2021. The CMMS software helps manufacturing industries by supporting preventive maintenance strategies and reducing downtime for the machinery during working hours. The software tracks equipment keeps information regarding assets, and quickly finds data. It assists manufacturing plants and prevents machines and equipment from failing and breakdown. A CMMS can be an essential tool for ensuring that the correct safety procedures are followed and that proper compliance is executed and documented.

Facility management can benefit hugely from the integration of a Computerized Maintenance Management System (CMMS). One of the most important advantages is that it leads to more preventive maintenance routines and predictive analytics. The workflow gets organized, work orders are controlled and assigned, and the facility’s unique requirements are fulfilled. A CMMS software gathers all precious information such as material and consumable requirements, assets intervention history, spare parts list, scheduled rebuilds, and condition-monitoring data. Mobility work CMMS helps managers follow and coordinate the employees' actions and consider past and future for critical decision-making. Moreover, CMMS helps facility managers prepare for important events such as audits and track regulatory compliance to meet legal and safety requirements.

Regional Insights

North America dominated the market in 2022 with a revenue share of over 30%. Due to increasing technological advancements and established vendors in CMMS software, the rise of small and startup manufacturing hubs across the region is expected to drive market growth. In addition, emerging new-age technologies such as AI, edge, IoT, analytics, and cloud also play a pivotal role in the growth of CMMS. The increasing use of cloud technologies and data volumes has increased the complexity of managing workloads and applications manually, contributing to the adoption of CMMS among enterprises in this region, as well as the increased demand specifically from oil and gas companies and other companies' end-user industries.

The Asia Pacific region is expected to grow significantly during the forecast period due to the growing demand for the computerized maintenance management system (CMMS) in Japan, China, and India. Additionally, the government in many countries in the Asia Pacific is continuously focusing on investing in cloud and related ICT technologies to enhance digital transformation across the industries, which would drive the growth of the market. Furthermore, growing awareness among end-users about computerized maintenance management systems (CMMS) is expected to create new opportunities for the market in the Asia Pacific.

Key Companies & Market Share Insights

The computerized maintenance management system market is fragmented with numerous companies operating worldwide. To stay competitive in the market, market players are pursuing a variety of growth strategies, including partnerships, strategic agreements and collaborations, mergers and acquisitions, and new product development.

For instance, in October 2021, International Business Machine Corporation (IBM) partnered with ViiBE, a Telecommunications service provider, to promote remote support between technicians and experts. Through this partnership, technicians can track assets that require maintenance with IBM Maximo, a platform for intelligent asset management, monitoring, predictive maintenance, and reliability. Rising incidents of unplanned downtimes resulting in loss of time and money encourage key market players to adopt strategic initiatives to enhance productivity and profitability in the business. Approximately unplanned downtime costs USD 50 billion each year.

Furthermore, cloud-based computerized maintenance management system (CMMS) software helps companies to schedule, organize and track equipment maintenance, and it connects seamlessly to business systems and drives data-driven decisions. In January 2021, Rockwell Automation Inc., industrial automation and digital transformation company acquired Fiix Inc., an AI-enabled CMMS company, to advance automation’s software strategy and enhance the company’s lifecycle services businesses. It would provide a full range of industrial automation services to help customers maximize the value of their production assets, systems, plants, and processes. Some prominent players in the global computerized maintenance management system market include:

• EZMaintain.com (Techgate LLC)

• Facilio.Com

• Fiix Inc.

• Fracttal SpA

• Hippo CMMS

• International Business Machines Corporation

• Limble CMMS

• Maintenance Connection

• Maxpanda CMMS

• MicroMain Corp

Computerized Maintenance Management System Market Report Scope

Global Computerized Maintenance Management System Market Segmentation

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2030. For this study, Grand View Research has segmented the global computerized maintenance management system (CMMS) market report based on deployment, enterprise size, end-use, and region:

• Deployment Outlook (Revenue, USD Million, 2018 - 2030)

  • Cloud

  • On-premise

• Enterprise Size Outlook (Revenue, USD Million, 2018 - 2030)

  • Large Enterprises

  • Small & Medium Enterprises (SMEs)

• End-use Outlook (Revenue, USD Million, 2018 - 2030)

  • Manufacturing

  • Facility Management

  • Healthcare

  • Education

  • Government

  • Others

• Regional Outlook (Revenue, USD Million, 2018 - 2030)

  • North America

    • U.S.

    • Canada

  • Europe

    • U.K.

    • Germany

    • France

    • Italy

    • Spain

    • Russia

    • Nordic Region

    • Eastern Europe

  • Asia Pacific

    • Australia

    • New Zealand

    • Indonesia

    • Malaysia

    • Singapore

    • Thailand

    • Vietnam

  • Latin America

    • Brazil

  • Middle East