Ready to understand the new trends shaping maintenance management? This article investigates the CMMS market and CMMS software trends for 2023.

Compare Top CMMS Software Leaders

Computerized maintenance management software (CMMS) — a category that also includes enterprise asset management software (EAM) and facilities management software (FM or CAFM) — is stepping confidently into the future. Let’s see how.

What This Article Covers:

• Key Takeaways
• Market Trends
• Software Trends
• Final Thoughts

Key Takeaways

Here are some interesting stats about the CMMS market.

• 66% of teams say they use a CMMS to track their maintenance programs.
• CMMS and EAM are giving way to a new form of asset management called asset performance management.
• Workplace safety will become a top priority for facility managers and organizations.
• North America will be the largest CMMS market and Asia will be the fastest-growing market.
• AI and the IoT are going to have a huge impact on how organizations manage their assets.
• To stay competitive, both CMMS vendors and organizations utilizing CMMS will have to be adaptive and innovative in the coming years.

Compare Top CMMS Software Leaders

Market Trends

The CMMS software market is projected to reach $1.7 billion by 2028, growing at a CAGR of 8.41% from 2021 to 2028.

North America occupies the largest chunk of the CMMS market and all regional markets are expected to grow, but the markets in Asia and the larger APAC region are growing exponentially.

• Maximo
• UpKeep
• Fiix
• ServiceChannel
• Asset Esentials
• iMaint
• eMaint
• Maintenance Connection
• Hippo CMMS
• Spacewell
• MPulse
• MVP Plant
• ManagerPlus

Compare Top CMMS Software Leaders

Top Trends

Now that you’ve had a basic rundown of the market, we can get into the good stuff.

For starters, 66% of teams say they use CMMS to track maintenance programs.

With capabilities that assist with work order management, preventive maintenance, asset and facility upkeep, and more, it’s no wonder so many use CMMS platforms for their maintenance activities.

Where else is the field of asset maintenance and management headed? What are some CMMS trends we should expect to see? Let’s take a look.

• Preventive Maintenance
• Asset Performance Management
• AI, Industry 4.0 & the IoT
• Workplace Safety
• Inventory Management

1. Preventive Maintenance

Preventive and predictive maintenance techniques will become more prevalent in 2023 and throughout the next ten years to decrease unplanned downtime, lengthen asset life spans, cut costs, boost labor productivity and raise safety. A wealth of business data and useful insights for process improvements that you may produce by employing CMMS software will be the driving force behind this.

2. Asset Performance Management

Asset performance management creates a strong, proactive solution by fusing the maintenance scheduling capabilities of CMMS with the asset tracking and management capabilities of EAM along with the interconnectivity of the internet.

Asset performance management enables users to track the performance of their assets in real-time, keeping an eye out for prospective faults and breakdowns to halt them before they occur.

To execute condition-based monitoring and extend the life span of both the asset as a whole and the individual components that make it up, you combine predictive maintenance and preventive maintenance in this situation. Users will be able to greatly reduce their losses due to unanticipated asset breakdowns thanks to this proactive approach to a technology that is already preventive.

3. AI, Industry 4.0 & the IoT

Any research on business asset management trends for 2023 should include a section on the impact of artificial intelligence (AI) and the IoT. Some CMMS software leverages intelligent technologies that can perform labor-intensive tasks and remove uncertainty from maintenance planning for you and your staff.

Smart, connected devices are the future of our world. As such, the Internet of Things (IoT), Industry 4.0 and AI are hot topics in almost every industry, especially those that utilize machines. When our machines are smart, they can monitor themselves and send real-time data back to managers, preventing various unexpected failures.

Businesses are using the IoT much more frequently, and they are leveraging the data it generates to support maintenance and asset management initiatives. Enterprise software will provide plant and maintenance managers a more senior seat at the table by transforming their job from a cost center to a profit center. This includes predictive maintenance and analytics for real-time asset management choices.

The aim of enhanced IoT autonomy and integration is to gather more and better data. This empowers users to make decisions based on data consistent with long-term objectives. Software development will go hand in hand with the development of Industry 4.0, IoT and AI as they all advance and become more pervasive in our society.

Compare Top CMMS Software Leaders

4. Workplace Safety

An endeavor to enhance cooperation and communication between the operations, maintenance and safety departments will be one of the most significant safety themes in 2023. You can improve data sharing by utilizing company-wide solutions rather than isolated tools.

Additionally, by leveraging the same data, your teams may carry out the proper tasks at the appropriate times, improving the efficiency and compliance of safety teams and contributing to the building of safer workplaces.

5. Inventory Management

To prevent unplanned downtime and production halts, maintenance managers must also ensure that spare parts and components are always accessible. As a result, one of the most recent developments in maintenance management is improving inventory management.

Modern CMMS systems have made inventory and spare component management simpler than ever. A reliable CMMS software solution enables maintenance managers and technicians to designate which spare parts are needed by which pieces of equipment, an anticipated time frame for when the machine will need a component to be changed, etc.

A data-driven approach to inventory control eliminates waste, speeds up item delivery, and raises prices, ultimately improving maintenance control.

Compare Top CMMS Software Leaders

Final Thoughts

This is just a glimpse of the changes the CMMS market is projected to go through in 2023.

Our experts say that adaptation, flexibility and innovation will set CMMS companies apart in the future. Their predicted trajectory for CMMS technology reflects these values and a spirit of improvement and evolution.

AI and the IoT will become present in everyday operations in a big way, making asset management easier and more efficient for users as asset performance management comes into its own. Customer care is key, and customer choice is equally important when it comes to choosing how to improve CMMS products. The verdict is in, and the future is bright!

What CMMS trends are you watching for 2023? Let us know in the comments below!