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Global CMMS Software Market Predicted to be 1.4 Billion in 2026 - QYResearch Report

Author: QYResearch  |   Published Date: 2020-12-15   |   Views: 103



QYResearch has come up with a new report on the global CMMS Software market. In 2019, the global CMMS Software market size was US$ 929.43 million and it is expected to reach US$ 1368.31 million by the end of 2026, with a CAGR of 8.6% during 2021-2026.

Computerized maintenance management system (CMMS), also known as computerized maintenance management information system (CMMIS), is a software package that maintains a computer database of information about an organization's maintenance operations. This information is intended to help maintenance workers do their jobs more effectively (for example, determining which machines require maintenance and which storerooms contain the spare parts they need) and to help management make informed decisions (for example, calculating the cost of machine breakdown repair versus preventive maintenance for each machine, possibly leading to better allocation of resources). CMMS data may also be used to verify regulatory compliance. To properly control the maintenance of a facility, information is required to analyze what is occurring. Manually this requires a tremendous amount of effort and time. A CMMS also allows for record keeping, to track completed and assigned tasks in a timely and cost-effective manner. In recognition of this, companies have started using CMMS extensively to better control and organize maintenance management. The different steps of implementing a CMMS plan have been described in the diagram.

A CMMS offers multiple core maintenance functionalities. It is not limited to manufacturing but expands to facilities, utilities, fleet, hospitals, sport areas and more where any type of equipment/assets are subject to repair and need maintenance.

Factors like an efficient accomplishment of maintenance practices, time-saving services, and low cost are majorly driving the market of computerized maintenance management system. Also, facilities provided by computerized maintenance management systems like scheduling tasks, tracking work orders, external work requests, managing inventory and audit, and certification are elevating the market.

 

Global CMMS Software Market- Key Players

The global Computerized Maintenance Management System (CMMS) Software market for is highly competitive and fragmented. There are many enterprises entering this business. IBM, Dude Solutions, Siveco, Accruent and DPSI are some of the major market players in this domain. Other key vendors include eMaint, iOffice (Hippo & ManagerPlus), ServiceChannel, Fiix, UpKeep, IFS, Spacewell, JDM Technology, MVP Plant, MRI (Real Asset Management), FasTrak, FMX, Sierra, Orion IXL Bhd, Ultimo, JLL (Corrigo), EZOfficeInventory, CyberMetrics (FaciliWorks), Maxpanda, eWorkOrders and some others. The prominent players constantly keep on innovating and investing in research and development in order to present a cost-effective portfolio. There have been recent mergers and acquisitions among the key players, where the business entities expect to strengthen their reach to their customer.

Global CMMS Software Market- Application Analysis

CMMS can be used by any organization which is required to carry out maintenance on equipment, assets or property, and is used across all industry sectors ranging from manufacturing, packaging, energy, health, education, food and beverage to facilities and fleet maintenance. Organizations of all sizes from the smallest maintenance companies requiring a more basic system to the large corporate businesses requiring a feature rich solution, will have use for a CMMS. In 2019, Market for Industrial & Manufacturing segment is dominating the market, with about 52.12% market share, followed by Logistics & Retail industries, with 18.77% market share.

 

Read More Information: https://www.qyresearch.com/index/detail/1437768/global-cmms-software-market

 

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