Top 20 EAM Tech Companies - 2018

It’s a remarkable age, organizations are on the edge of the Fourth Industrial Revolution or Industry 4.0 and digitization is on the top priority in its agenda. To survive in this Industry 4.0, organizations need to modernize their methods of managing assets over their lifecycles; in other words they need to improve their enterprise asset management (EAM). The Internet of Things (IoT) has generated a considerable amount of buzz and is also a booming technological and operational trend that has already established a solid foothold in most of the industries today. A recent study conducted by Forrester reveals that 83 percent of the companies are already leveraging IoT and another 87 percent were ready for their IoT deployments, which can significantly impact asset management and maintenance.

As enterprises evolve and enterprise assets become increasingly more interconnected, EAM must evolve as well. New and emerging trends, including the Industrial Internet of Things (IIoT), AI, mobile, predictive and cognitive maintenance, and KPI-monitoring will reshape the future of EAM. Though still in its infancy, the deployment of deep learning, industrial robots, drones and other forms of state-of-the-art AI in maintenance activities is promising and takes organization’s EAM strategies to new heights. The industrial sector has caught the untapped potential for drones, since it provides a bird’s eye view of the facility and its assets, all while reducing risk and saving money.

The future of EAM is about looking at how we use technology in the real world and making it easier to use so we can optimize the value of our assets, not just maintain them. Truly, now is right the time for organizations to consider using EAM solutions for their business. To help CIOs zero in on the right fit EAM solutions for their organizations, CIOReview presents the “20 Most Promising EAM Solution Providers 2018.”