IFS ranked in the Gartner Market Share: All
Software Markets, Worldwide, 2023 report
LONDON, May 22, 2024 /PRNewswire/ -- IFS, the leading
technology innovator in cloud and Industrial AI software, today
announces that for the third consecutive year Gartner has named IFS
the #1 for market share in the Enterprise Asset Management (EAM)
market.
IFS is named #1 in the Gartner Market Share: All Software
Markets, Worldwide, 2023 report, based on a market share of
20.3%, revenues of $452m and 36.4%
year-over-year growth in 2022-2023.
Kevin Price, Global Head of
Enterprise Asset Management at IFS, said: "Our third
consecutive #1 ranking on EAM from Gartner is clear evidence that
we are getting it right - by consistently listening to our
customers and delivering value for them. We are very proud to have
retained this position, hot on the heels of our Q1 2024 financial
results which revealed the best start to a year in IFS history,
with annual recurring revenue up 26% year-over-year."
Price added: "Asset-intensive enterprises continue to
move to IFS because our total customer-focus and industry depth
means we provide compelling use cases that are fast, easy to
implement and deliver value quickly. Customers can achieve this
from a single composable platform that offers advanced
functionality, AI innovation embedded, and flexible deployment
options. And our best-of-breed EAM delivers incredible value for
those customers who want to modernize their maintenance operations.
Existing customers are also expanding their use of IFS technology
to transform, grow, operate more efficiently and more sustainably,
and provide those outstanding Moments of Service for their own
customers."
The report provides an overview of worldwide enterprise software
spending, including EAM, stating that: "worldwide enterprise
software spending grew by 11.1% to $786.4
billion in 2023 from $708.0
billion in 2022. Customer experience and relationship
management (CRM), database management systems (DBMS), and security
remained the largest software markets. Analytic platforms emerged
as the fastest-growing application software market with a 14.4%
growth rate, and networking software emerged as the fastest-growing
infrastructure software market with a 14.2% growth rate."
IFS offers two powerful and flexible EAM solutions. IFS Cloud
EAM is a composable solution with embedded IFS.ai capabilities that
address the unique demands of complex asset-intensive environments
through a single integrated platform. Since it is composable, it is
easily combined with ERP and Service Management capabilities to
automate the management of assets to control maintenance, optimize
performance and support ESG goals. It is designed to meet the
current and future needs of asset-intensive industries such as
Energy and Utilities, Construction & Engineering,
Manufacturing, Services, Aerospace & Defense and Telecoms.
IFS Ultimo EAM combines a fully integrated environment, health,
and safety (EHS) and operations suite with out-of-the-box
industry-specific solutions built for manufacturing, logistics, and
healthcare. Designed for organizations that manage industrial and
fleet assets alike, IFS Ultimo offers rich functionality for
planning, monitoring, optimizing and executing maintenance
activities and automating workflows.
Learn more about how IFS supports asset-intensive industries
at: https://www.ifs.com/solutions/enterprise-asset-management
Gartner, Market Share: All Software Markets, Worldwide, 2023,
22 April 2024.
GARTNER is a registered trademark and service mark of Gartner,
Inc. and/or its affiliates in the U.S. and internationally and is
used herein with permission. All rights reserved.
GARTNER does not endorse any vendor, product or service depicted
in its research publications, and does not advise technology users
to select only those vendors with the highest ratings or other
designation. Gartner research publications consist of the opinions
of Gartner's research organization and should not be construed as
statements of fact. Gartner disclaims all warranties, expressed or
implied, with respect to this research, including any warranties of
merchantability or fitness for a particular purpose.
CONTACT:
Contact information
EUROPE / MEA / APJ: Adam Gillbe
IFS, Director of Corporate & Executive Communications
Email: press@ifs.com
Phone: +44 7775 114 856
NORTH AMERICA / LATAM:
Mairi Morgan
IFS, Director of Corporate & Executive Communications
Email: press@ifs.com
Phone: +44 7918 607 299
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