6CIOReview | | NOVEMBER 2022As remote work becomes the new norm for professionals around the globe, enterprise asset management (EAM) is witnessing an increasing emphasis on cloud-based technology for integrating and optimizing the physical assets and infrastructure of businesses. In contrast to on-premise EAM systems, cloud-based solutions help organizations save significant money upfront, eliminate the need for manual upgrades and installation of new features, and provide greater data security. According to research by marketsandmarkets.com, the global EAM industry was valued at $3.3 billion in 2020 and is expected to reach $5.5 billion by 2026, at a CAGR of 8.7 percent during the forecast period. This rapid growth can be attributed to the increasing shift from legacy asset management to modern asset management, the rising popularity of SaaS-based EAM solutions, and the growing need for a 360-degree view of assets. The advent of supplementary technologies is driving a significant transition in the EAM market. The integration of IoT and EAM systems allows organizations to monitor and procure data from remote sites and gain useful insights to drive business growth. At the same time, maintenance teams are making better decisions, enhancing efficiency, performing preventive maintenance, and maximizing investments in their physical assets with advanced analytics and AI incorporated into EAM solutions. ML-powered EAM systems help predict which assets will fail by analyzing databases of engineering, operational, and maintenance records. This edition of CIOReview delivers a bird's-eye view of the recent developments in the EAM arena and insights into how organizations are aligning with these trends and adopting new ways to shape the future of asset management.We have curated thought leadership articles from industry experts, including the Director of Vulnerability Management and Global Tech Information Security at Walmart, the VP of Enterprise Optimization at Bayview Asset Management, and the Director of Asset Management at California Water Service.We also took a deep dive into the market trends to narrow down the list of companies delivering innovative EAM services and solutions. Equipped with innovative technological capabilities, the enlisted solution providers, such as Boerger Consulting, Bloomtree Technologies, Express Maintenance, Gomocha, and Sage Sustainable Electronics, help transform businesses at the cloverleaf of various disruptive technologies.We hope this edition of CIOReview's EAM service and solution providers helps you build the partnership you and your organization need to foster an environment driven by efficient technology.Let us know your thoughts! EditorialRethinking EAM in the Digital-First EraCopyright © 2022 ValleyMedia, Inc. All rights reserved. Reproduction in whole or part of any text, photography or illustrations without written permission from the publisher is prohibited. The publisher assumes no responsibility for unsolicited manuscripts, photographs or illustrations. Views and opinions expressed in this publication are not necessarily those of the magazine and accordingly, no liability is assumed by the publisher thereof.CIOReviewEmail:sales@cioreview.comeditor@cioreview.commarketing@cioreview.com NOVEMBER - 24 - 2022, Vol 11, Issue - 89 (ISSN 2644-237X) Published by ValleyMedia, Inc.To subscribe to CIOReviewVisit www.cioreview.com CIOReviewEditorial StaffAaron PierceCarolynn WaltersDean WinchesterShirley FaithVisualizersAsher BlakeJustin Smith Managing Editoreditor@cioreview.comManaging EditorJustin SmithDisclaimer: *Some of the Insights are based on our interviews with CIOs and CXOsRussell Thomas
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