HxGN EAM Identified as a Leader in Enterprise Asset Management
Despite the maturity of the market, Enterprise Asset Management (EAM) remains a highly competitive field. This is according to independent research and advisory firm, Verdantix, who explores the current software market in its Green Quadrant: Enterprise Asset Management Software 2024 report.
Verdantix outlines that since 2022, a seismic shift has occurred in the market. The evolution of technology, such as AI and generative AI, has played a key role in this, alongside a closer association between EAM and asset performance management (APM) software. The firm also notes that “Spend on the EAM software market reached $4.5 billion in 2024, and will grow at a 9% CAGR to reach $6.4 billion in 2028,” indicating that this is a field still in motion.
In Verdantix’s report, key insights are shared into the state of the current market, alongside information about several EAM solutions providers. Within this overview, Hexagon has been identified as a ‘Leader’ for our Enterprise Asset Management solution, HxGN EAM due to the following capabilities:
- “Leading technical capabilities, with strong integration options through Databridge Pro”
- “Market-leading operational risk and information management capabilities”
- “Roadmap focus on an integrated product suite”
In this blog, we will further explore these features and other key findings from the report. Plus, how we continue to support our customers with their quest for improved enterprise asset performance improvement and digital transformation.
HxGN EAM
If you are new to HxGN EAM, let us first introduce you to our industry-leading asset management solution. Now operational for over 30 years, HxGN EAM is designed to extend asset lifecycles and improve productivity. The solution enables organizations to adopt and deploy advanced asset management tactics to achieve efficient workflows and processes. By tracking many critical assets within a facility, HxGN EAM reports on the condition of equipment and tracks when maintenance or repairs are needed ahead of time, avoiding downtime or other delays.
Leading Technical Capabilities
To evolve and excel, the ability to operate flexibly and securely is paramount. By harnessing scalable EAM solutions, organizations across industries can create a solid technical foundation that can grow and adapt alongside their business.
In Verdantix’s report, “Hexagon achieved top scores for four technical capabilities, with perfect scores (3.0/3.0) for business intelligence, deployment options and deployment environment.” Our data management capabilities were also highlighted as “market leading.”
Take HxGN EAM Visualization Studio as one example. With this technical capability, our customers are able to achieve advanced visualizations that help them gain insights into their assets through the ability to access and interact with drawings, floor plans and existing facilities with reality capture tools. The result? Increased control and visibility over key facilities.
The ability to adapt seamlessly with ever-evolving business needs and processes gives organizations the flexibility and confidence to move with the times. Paired with leading integration opportunities and capabilities, this gives them a competitive edge over other players in the market.
Integrated Product Suite
Alongside scalability, the power of integration capabilities for reliable, efficient and more sustainable operations cannot be understated. In our approach to EAM, we want to ensure that our products can talk to one another, connecting data and sharing insights. But that’s not all. To further digital transformation and an openness to integration, we understand the importance of linking with multiple enterprise software platforms and industrial systems – also from third-party providers.
“With the release of Databridge Pro, Hexagon established its openness to the integration of other providers’ systems, while also improving the data transformation and routing across Hexagon products.” - Verdantix, Green Quadrant: Enterprise Asset Management Software 2024
HxGN EAM Databridge Pro is central to this. Launched in early 2024, Databridge Pro enhances data flow and operational efficiencies. This, coupled with Hexagon’s acquisition of Itus Digital (now HxGN APM), strengthens our overall approach to EAM/APM activities. In Verdantix’s 2024 Green Quadrant report, for example, our “platform interoperability & integrations received the second-highest score in the analysis, at 2.8/3.0.”
Considered alongside our technical capabilities discussed earlier, the integrations we facilitate are key to our recognition as a leader in Enterprise Asset Management. Together, they provide our customers with the visibility, insights and connections needed to reach individual business goals and operational excellence.
Market-Leading Data Management
The third area highlighted by Verdantix was our operational risk and information management capabilities. These are essential for companies looking to use the data captured from assets to improve decision-making and overall performance. In the report, with “2.6/3.0 and 2.8/3.0 respectively, Hexagon received the highest scores for its operational risk management (ORM) and information management capabilities.”
Alongside efficiency, having a good grasp of operational risk is crucial for safety considerations. HxGN EAM’s Safety Management model is a standard feature of the solution and empowers organizations to deploy safety precautions and identify any potential hazards in good time.
In the words of Tom Kurtz (Vice President, Portfolio Strategy for EAM at Hexagon’s Asset Lifecycle Intelligence division) the key areas highlighted in Verdantix’s Green Quadrant: Enterprise Asset Management Software 2024 report recognize “...our company’s unwavering commitment to delivering state-of-the-art EAM solutions, which are instrumental in helping clients attain their operational and sustainability objectives.” Looking to the future, Kurtz comments that this status “...also reinforces our commitment to continued innovation, ensuring our solutions perpetually align with the dynamic needs of the industry.”
Connecting the dots, bringing essential data to the surface and facilitating collaboration between tools, platforms and software are key components needed to ensure EAM success. With many companies investing in digital transformation journeys, EAM will be a central focus for organizations across a number of sectors.
HxGN EAM is being used by companies in industries such as infrastructure and transport, mining and minerals, oil and gas, and power and utilities. Perhaps you could be next? For more information, read the report in full, and reach out to one of our EAM industry experts.
About Verdantix
Verdantix is the essential thought-leader for world-enhancing innovation. We support change-makers with our proprietary data, unique expertise and executive networks. Our impactful analysis is delivered via a digital platform, consulting engagements and in-person events to thousands of decision-makers in more than 100 countries. From offices in London, New York and Boston, the Verdantix research team applies the principles of rigour, accuracy and curiosity to help our globally distributed clients solve their most complex challenges.