Enterprise Asset Management still an opportunity for the unknown players

Enterprise Asset Management is worth $1.2 billion today and is expected to cumulatively grow at 6.5%. How can solution providers succeed given the fact that there are just so many players out there? Even if you provide the latest tools that works on SOA (Service Oriented Architecture) platform and that integrates with wireless applications, you may still end up struggling to compete against giants such as IBM, IFS and Invensys who currently employs more than 1,000 programmers, salesmen and marketers serving multiple sectors, generating revenues of at least $20 million from EAM alone.

However, its not totally bleak for unknown solution providers. Even major players lack dominance in certain geography market and segment area. One hint is in the Middle East where there are just so many untouched market segments. They include the increasing trend of instant knowledge cities popping up within the region. Those intelligent buildings, power generators, office maintenance, and smart public transportation are assets that not only needs to be monitored but the technology that comes with them may require complex assessment of depreciation value and lifecycle management

The key here is to find the niche that your company is most capable of doing. Just like any businesses, if you are not IBM of the day, the only way forward is to value add your solution by collaborating with reputable and effective partners. Naturally, working with those whose brands are known worldwide would heighten your level playing field and if done smartly, will minimize your client acquisition cost. From AGIT Consulting's experience, getting players a list of possible clients are a necessity, but it's also too basic. More importantly is the need to assess your company properly in the market and do a detail planning before attacking the ocean, blue or red.