IFS has announced that it is ranked #1 in the Enterprise Asset Management market based on revenue for the second consecutive year in the Gartner, Market Share: All Software Markets, Worldwide, 2022.
The company attributes its continued growth and success in EAM to its continued focus on building rich capabilities aligned to deep industry expertise, and the acquisition of IFS Ultimo in 2022.
The Gartner Market Share: All Software Markets, Worldwide, 2022 report aims to provide an overview of 2021-2022 of all enterprise software revenue and vendor market share. As part of the report, enterprise asset management (EAM) is a product category analysed in its own right and vendors active in the segment have their market share reported. Overall, the worldwide enterprise software market grew by 11.3% in 2022.
IFS believes that the Gartner Market Share report reinforces the success IFS has seen in recent years, in EAM and across its entire business. This includes its 5th consecutive year of double-digit growth for the 2022 Financial Year. In addition to securing the highest EAM market share based on revenue, IFS is also investing in its recently established EAM business unit, which is focused on helping customers realise value faster.
Marne Martin, Chief Strategy Officer and President, commented: “In our opinion, we retain this ranking not by accident but through our commitment to provide our customers with a composable solution that supports their business across the asset lifecycle. As many enterprises globally face continued economic challenges, we are confident that our customers are maximising the profitability of their assets with IFS EAM regardless of their current ERP solution, providing an enterprise-wide view of company asset performance and resilience to inform their business decisions.”
IFS EAM is a composable solution for global organisations that understand the value of connecting processes that have either an upstream or downstream impact on their assets and customers. With a single integrated platform, IFS EAM uniquely combines enterprise class ERP capabilities with leading service management functionality – addressing the needs of complex asset-intensive environments. It automates the management of assets to control maintenance and optimise performance within a single solution. The breadth of IFS EAM capabilities are designed to support asset-intensive industries such as Energy and Utilities, Construction & Engineering, Manufacturing, Services, Aerospace & Defence and Telco for both current and future needs.
Ewout Noordermeer, Chief Marketing Officer, IFS Assets said: “Together, IFS Ultimo and IFS Cloud EAM have enabled IFS to reach a broader market and serve large global organisations as well as mid-size companies so they can build their asset management maturity. This strategy has been instrumental in enabling us to achieve accelerated growth. At IFS, and regardless of company size, we pride ourselves on our commitment to help customers enhance their operations by connecting the delivery of the right people, tools and equipment to an asset. We believe these Gartner Market Share results highlight our continued success in asset-intensive industries and help our customers deliver amazing moments of service.”
