IFS, a global cloud enterprise software company, has announced that it has been ranked as the top company in the Enterprise Asset Management market for the second year in a row based on revenue, according to the Gartner Market Share: All Software Markets, Worldwide, 2022 report. The company attributes its success to its focus on developing industry-specific capabilities and the acquisition of IFS Ultimo in 2022.
The Gartner report provides an overview of enterprise software revenue and vendor market share for the years 2021-2022. It analyzes the enterprise asset management (EAM) segment separately and reports the market share of active vendors in that category. The overall worldwide enterprise software market experienced an 11.3% growth in 2022.
IFS views the Gartner Market Share report as a validation of its recent achievements, not only in EAM but across its entire business. This includes five consecutive years of double-digit growth in the 2022 Financial Year. In addition to leading the EAM market based on revenue, IFS is also investing in its newly established EAM business unit to assist customers in realizing value more efficiently.
Marne Martin, Chief Strategy Officer and President, expressed that IFS’s success is a result of their commitment to offering customers a flexible solution that supports their asset lifecycle. Despite global economic challenges, IFS believes that their EAM solution, irrespective of the customer’s current ERP system, optimizes asset performance and enables informed business decisions by providing a comprehensive view of company asset performance and resilience.
IFS EAM is a flexible solution designed for global organizations that recognize the importance of integrating processes related to their assets and customers. By combining enterprise class ERP capabilities with service management functionality, IFS EAM addresses the needs of complex asset-intensive industries. It streamlines asset management, maintenance control, and performance optimization within a unified platform. The broad range of IFS EAM capabilities caters to asset-intensive industries such as Energy and Utilities, Construction & Engineering, Manufacturing, Services, Aerospace & Defense, and Telco.
Ewout Noordermeer, Chief Marketing Officer of IFS Assets, stated that the combination of IFS Ultimo and IFS Cloud EAM has allowed IFS to expand its market reach and serve a diverse range of companies, including large global organizations and mid-sized enterprises, helping them enhance their asset management maturity. Noordermeer believes that this strategy has been instrumental in achieving accelerated growth. Regardless of company size, IFS is committed to facilitating operational improvements by connecting the right people, tools, and equipment to an asset. The Gartner Market Share results reinforce IFS’s success in asset-intensive industries and its dedication to delivering exceptional service experiences for customers.
