The global market for enterprise asset management (EAM) solutions is valued at over $5 billion as of 2019, according to MarketsandMarkets. With an expected annual growth rate of roughly 10%, the industry is anticipated to grow past $8 billion by 2024. EAM solutions provide life-cycle management, maintenance scheduling, and other features, giving an extensive real-time assessment of assets. In particular, cloud-based solutions are currently in high demand.