Computerized Maintenance Management System Market Size
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 1.28 Billion |
| Market Size (2029) | USD 1.97 Billion |
| CAGR (2024 - 2029) | 9.00 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Computerized Maintenance Management System Market Analysis
The Computerized Maintenance Management System Market size is estimated at USD 1.28 billion in 2024, and is expected to reach USD 1.97 billion by 2029, growing at a CAGR of 9% during the forecast period (2024-2029).
- A unified platform centralizes all asset-related data, breaking down silos and granting organizations a comprehensive view of their assets. This centralization enhances coordination among departments, managing assets, streamlining processes, and curbing inefficiencies. Organizations gain real-time insights into asset performance, maintenance history, and associated costs, empowering them to make data-driven decisions. Organizations can realize substantial cost savings by optimizing asset performance and streamlining processes. By adopting a comprehensive view of asset data, organizations enhance their ability to make informed choices about acquiring, maintaining, and replacing assets.
- Contemporary CMMS solutions are broadening their scope, now encompassing functionalities for maintenance, inventory oversight, procurement, and work order management. Numerous CMMS solutions feature APIs, enabling seamless integration with several enterprise systems such as ERP and CRM, thereby enhancing the concept of a unified platform. Furthermore, these solutions boast advanced data analytics and reporting features, equipping organizations with insights into asset performance and spotlighting areas ripe for enhancement.
- Manufacturing and other industries are shifting from a reactive maintenance approach, where repairs occur only post-breakdown, to a more proactive stance. This preventive maintenance strategy emphasizes early identification and resolution of potential issues, averting significant disruptions. Organizations sidestep expensive breakdowns and emergency repairs by addressing concerns promptly and minimizing production downtime.
- In response to this evolving demand of preventive maintenance, CMMS vendors enhance their offerings with advanced features. CMMS vendors prioritize mobile-friendly platforms, with organizations leaning towards mobile devices for maintenance. This allows technicians to conveniently access maintenance data and update records directly from the field. Furthermore, cloud-based CMMS solutions are gaining traction, lauded for their enhanced accessibility, scalability, and cost benefits.
- Organizations face a significant hurdle when considering a CMMS due to the substantial initial investment. This investment encompasses software licensing fees, implementation costs, necessary hardware upgrades, and training expenses. While the benefits of a CMMS are clear—ranging from reduced downtime and enhanced efficiency to notable cost savings—pinpointing the exact ROI remains a challenge. Such uncertainty complicates the justification of the upfront costs. Consequently, the steep initial outlay can hinder CMMS adoption, particularly for smaller businesses and those operating on tighter budgets.
- World Bank forecasts indicate that in 2024, emerging markets and developing economies are set to witness a GDP growth of nearly four percent year-on-year. This anticipated growth outpaces the 1.5 percent forecasted for advanced economies, highlighting a significant divergence in economic trajectories. As global GDP strengthens, businesses ramp up their capital expenditures, particularly in machinery and equipment. This surge in asset investment amplifies the necessity for efficient maintenance management, consequently heightening the demand for CMMS solutions.
Computerized Maintenance Management System Market Trends
Manufacturing Industry is Expected to Hold Significant Market Share
- Manufacturers rely on intricate and often costly machinery and equipment for their processes. Equipment malfunctions can severely disrupt production schedules, resulting in significant financial losses. A Computerized Maintenance Management System (CMMS) empowers manufacturers to proactively oversee maintenance, thwart potential breakdowns, and curtail downtime.
- As manufacturers increasingly adopt automation and Industry 4.0 technologies, the demand for robust CMMS solutions grows. CMMS can harness smart sensors, predictive analytics, and other Industry 4.0 technologies to streamline maintenance processes and boost efficiency. Technologies such as the Internet of Things (IoT) allow manufacturers to link their assets and gather real-time performance data. CMMS can utilize this data for predictive analytics, pinpointing potential issues, and fine-tuning maintenance schedules. GSMA projects that from 2020 to 2030, the global count of Internet of Things (IoT) connections will grow almost linearly, hitting an estimated 24 billion enterprise IoT connections by 2030, with manufacturing included.
- Manufacturers incur substantial costs from downtime. By tackling potential issues early on, preventive maintenance is vital in reducing these unexpected downtimes. This proactive approach keeps equipment running smoothly and ensures production lines operate at peak efficiency, resulting in heightened output and productivity. As a result, there's a growing demand for CMMS solutions, underscoring the industry's emphasis on preventive maintenance.
- Manufacturers are increasingly adopting robust software solutions to streamline their preventive maintenance programs. These CMMS solutions leverage predictive analytics, empowering manufacturers to anticipate potential failures and proactively schedule maintenance. Additionally, as the industry pivots towards data-driven methodologies, CMMS equips manufacturers to analyze maintenance data, identify trends, and optimize their preventive maintenance strategies. A significant leap forward is the integration of CMMS with IoT sensors and devices, enabling real-time monitoring of equipment performance and timely maintenance notifications.
North America is Expected to Hold Significant Market Share
- The United States and Canada boast a solid and advanced technological infrastructure. Businesses increasingly acknowledge the significance of extending the lifespan and enhancing the performance of their assets. Through asset data analysis, CMMS can foresee potential failures and timely schedule maintenance, thereby minimizing downtime and prolonging asset life. CMMS efficiently schedules maintenance tasks, considering asset usage, age, and other relevant factors, ensuring peak performance and reduced disruptions. Furthermore, it offers a centralized database to monitor all asset details, such as maintenance history, location, and specifications, leading to improved asset management.
- The industries in the region face strict regulations and safety standards. OSHA mandates that organizations should promote regular maintenance work and best practices and ensure a safe workplace. In maintenance, this influences technicians' tasks, supply storage, and necessary safety measures throughout the repair process. CMMS offers tools to document maintenance activities, safety inspections, and compliance records, streamlining audits and ensuring adherence to regulations. Furthermore, CMMS can seamlessly integrate with safety management systems, allowing organizations to monitor safety incidents, enact corrective measures, and enhance overall safety performance.
- Technological evolution has significantly advanced CMMS functionality. Cloud-based CMMS solutions provide enhanced accessibility, scalability, and cost-effectiveness, appealing to businesses of all sizes. Furthermore, CMMS now integrates seamlessly with other enterprise systems, including ERP, inventory management, and work order systems, thereby streamlining operations and enhancing data flow. Additionally, mobile-friendly CMMS platforms empower technicians to access information and update records directly from the field, boosting both efficiency and communication.
- Further, numerous regional manufacturers are developing innovative solutions to remain competotive in the market. For instance, in March 2024, Fuuz, a manufacturing and integration platform based in Michigan, has introduced a Computerized Maintenance Management System (CMMS) module. This initiative aims to address the manufacturing industry's pressing challenge: the significant costs associated with unplanned downtime. Unplanned downtime issues drain industrial manufacturers of approximately USD 50 billion annually and can diminish a facility's productive capacity by 5% to 20%. In response, the CMMS was crafted, customized for distinct equipment and processes, and equipped with real-time insights and scalability features.
Computerized Maintenance Management System Industry Overview
The computerized maintenance management system Market is highly competitive, with numerous companies operating globally. To maintain their competitive edge, these players are actively engaging in diverse growth strategies. These strategies encompass partnerships, strategic agreements, collaborations, mergers and acquisitions, and the development of new products. Some of the key players in the market are Fiix (Rockwell Automation, Inc.), IBM Corporation, MaintainX, Accruent, and NexGen.
- April 2024: Rockwell Automation, Inc. has integrated advanced generative artificial intelligence (GenAI) prescriptive work orders into its Fiix Asset Risk Predictor software. With the newly incorporated Fiix Prescriptive Maintenance, the software now boasts GenAI capabilities, turning failure forecasts into comprehensive, actionable work orders for maintenance teams. These teams can review, modify, and seamlessly transfer the work orders to any computerized maintenance management system (CMMS) or enterprise asset management (EAM) tool.
- April 2024: Accruent unveiled that its Maintenance Connection CMMS now ensures regulatory compliance for highly regulated manufacturing sectors, aligning with crucial FDA 21 CFR Part 11 and ISO 27001 standards. The enhanced compliance features in Maintenance Connection underscore Accruent’s dedication to addressing the regulatory demands of its markets, leveraging cloud-enabled solutions to boost business productivity. By integrating these features with Accruent’s compliant electronic document management systems (EDMS), the company presents the industry with a unique method to uphold stringent regulatory standards, emphasizing enhanced efficiency and reliability.
Computerized Maintenance Management System Market Leaders
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Fiix (Rockwell Automation, Inc.)
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IBM Corporation
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MaintainX
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Accruent
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NexGen
*Disclaimer: Major Players sorted in no particular order
Computerized Maintenance Management System Market News
- May 2024: HelixIntel has launched the cornerstone of its PropertyOS platform, introducing a cutting-edge Computerized Maintenance Management System (CMMS). This cloud-based CMMS has features tailored for users engaged in preventive maintenance, asset management, equipment downtime reduction, and workflow automation. HelixIntel's CMMS is designed for businesses of all sizes and focuses on those managing essential assets. The platform streamlines maintenance management and aligns it with strategic asset oversight and real-time data analytics.
- February 2024: Branding Iron Holdings (BIH) has successfully revamped its maintenance operations at its three food-processing facilities in Minnesota and Illinois. This modernization was achieved by adopting Mainsaver’s cloud-based Computerized Maintenance Management System (CMMS). With the integration of Mainsaver's Core CMMS, BIH witnessed a significant transformation in its maintenance management. Key benefits included enhanced data consistency, standardized processes, efficient spare parts management, increased uptime, and operational efficiency.
Computerized Maintenance Management System Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET INSIGHTS
4.1 Market Overview
4.2 Industry Attractiveness - Porter's Five Forces Analysis
4.2.1 Threat of New Entrants
4.2.2 Bargaining Power of Buyers
4.2.3 Bargaining Power of Suppliers
4.2.4 Threat of Substitute Products
4.2.5 Intensity of Competitive Rivalry
4.3 Industry Value Chain Analysis
4.4 An Assessment of Macroeconomic Trends on the Market
5. MARKET DYNAMICS
5.1 Market Drivers
5.1.1 Organizations Increasingly Recognize the Need for a Unified Platform to Oversee all Asset-Related Operations
5.1.2 Surge in Demand for Preventive Maintenance
5.2 Market Restraints
5.2.1 High Initial Cost
5.2.2 Shortage of Skilled Professionals
6. MARKET SEGMENTATION
6.1 By Deployment Mode
6.1.1 Cloud
6.1.2 On-Premise
6.2 By Enterprise Size
6.2.1 Small and Medium Enterprises (SMEs)
6.2.2 Large Enterprises
6.3 By End-User Industry
6.3.1 Energy and Utility
6.3.2 Manufacturing
6.3.3 Healthcare
6.3.4 Transportation and Logistics
6.3.5 Retail
6.3.6 Oil and Gas
6.3.7 Other End-User Industries
6.4 By Geography***
6.4.1 North America
6.4.2 Europe
6.4.3 Asia
6.4.4 Australia and New Zealand
6.4.5 Latin America
6.4.6 Middle East and Africa
7. COMPETITIVE LANDSCAPE
7.1 Company Profiles*
7.1.1 Fiix (Rockwell Automation Inc.)
7.1.2 IBM Corporation
7.1.3 MaintainX
7.1.4 Accruent
7.1.5 Fracttal Tech SL
7.1.6 NexGen
7.1.7 Mapcon Technologies Inc.
7.1.8 MicroMain Corp.
7.1.9 eMaint (Fluke Corporation)
7.1.10 UpKeep Technologies Inc.
7.1.11 Hippo CMMS (iOFFICE)
7.1.12 Limble CMMS
7.1.13 Maxpanda Software Inc.
7.1.14 MPulse Software Inc.
7.1.15 MVP One
7.1.16 eWorkOrders
7.1.17 LLumin
7.1.18 eFACiLiTY (SIERRA ODC Private Limited)
7.1.19 HELIXIntel Inc.
7.1.20 AFiSOL Intelligent Solutions
8. INVESTMENT ANALYSIS
9. FUTURE OF THE MARKET
Computerized Maintenance Management System Industry Segmentation
A computerized maintenance management system (CMMS) prioritizes maintenance data and enhances operational efficiency. Its significance spans various sectors, ensuring optimal utilization and accessibility of physical assets, including vehicles, machinery, and plant infrastructures. These systems are indispensable in manufacturing, oil and gas production, power generation, construction, and transportation, where the integrity of physical infrastructure is paramount. The study tracks revenue generated from software solutions sold by major market vendors. Additionally, it monitors growth trends and macroeconomic factors influencing the market.
The computerized maintenance management system market is segmented by deployment mode (cloud and on-premise), enterprise size (small and medium enterprises (SMEs) and large enterprises), end-user industry (energy and utility, manufacturing, healthcare, transportation and logistics, retail, oil and gas, and others), and geography (North America, Europe, Asia, Australia and New Zealand, Latin America, Middle East, and Africa). The report provides USD value forecasts and sizes for all the abovementioned segments.
| By Deployment Mode | |
| Cloud | |
| On-Premise |
| By Enterprise Size | |
| Small and Medium Enterprises (SMEs) | |
| Large Enterprises |
| By End-User Industry | |
| Energy and Utility | |
| Manufacturing | |
| Healthcare | |
| Transportation and Logistics | |
| Retail | |
| Oil and Gas | |
| Other End-User Industries |
| By Geography*** | |
| North America | |
| Europe | |
| Asia | |
| Australia and New Zealand | |
| Latin America | |
| Middle East and Africa |
Computerized Maintenance Management System Market Research FAQs
How big is the Computerized Maintenance Management System Market?
The Computerized Maintenance Management System Market size is expected to reach USD 1.28 billion in 2024 and grow at a CAGR of 9% to reach USD 1.97 billion by 2029.
What is the current Computerized Maintenance Management System Market size?
In 2024, the Computerized Maintenance Management System Market size is expected to reach USD 1.28 billion.
Who are the key players in Computerized Maintenance Management System Market?
Fiix (Rockwell Automation, Inc.), IBM Corporation, MaintainX, Accruent and NexGen are the major companies operating in the Computerized Maintenance Management System Market.
Which is the fastest growing region in Computerized Maintenance Management System Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Computerized Maintenance Management System Market?
In 2024, the North America accounts for the largest market share in Computerized Maintenance Management System Market.
What years does this Computerized Maintenance Management System Market cover, and what was the market size in 2023?
In 2023, the Computerized Maintenance Management System Market size was estimated at USD 1.16 billion. The report covers the Computerized Maintenance Management System Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Computerized Maintenance Management System Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Computerized Maintenance Management System Industry Report
Statistics for the 2024 Computerized Maintenance Management System market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Computerized Maintenance Management System analysis includes a market forecast outlook for 2024 to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
