In January 2025, TMA Systems, a world-leading provider of enterprise asset and computerized maintenance management systems (CMMS), launched a major collaboration with Sourcewell, a prestigious cooperative purchasing organization. The new partnership will make it easier for North American government, educational, and nonprofit agencies to access TMA's next-generation maintenance management solutions, facilitating their procurement process.
Sourcewell is renowned for facilitating public sector purchasing through pre-negotiated contracts that allow organizations to sidestep long procurement processes. Through this contract, accredited organizations such as schools, municipalities, and government agencies can now purchase TMA's CMMS software to automate their asset management and maintenance. TMA's software solutions are designed to make these businesses more productive, reduce their operation costs, and extend the lifecycle of their equipment by providing them with efficient solutions to manage work orders, automate preventive maintenance scheduling, and track assets in real-time.
This alliance is a strategic step for both companies. TMA Systems broadens its presence in the public sector with its innovative CMMS solutions to more North American institutions. For Sourcewell, this partnership adds to its portfolio by acquiring TMA's well-established maintenance management systems specifically designed to address the needs of government, educational, and not-for-profit agencies.
Through simplifying the process of procurement, this deal enables such organizations to deploy best-of-class CMMS solutions with ease and value so that they are able to enhance their maintenance department and reduce cost in the long run. This partnership shows the way the two firms are joining hands in an attempt to support the public sector in fulfilling its operational needs and enhancing innovation and efficiency.
According to Coherent market insights computerized maintenance management system industry is growing at a high rate, expected to increase from USD 2.17 billion in 2024 to USD 3.28 billion by 2031, reflecting a compound annual growth rate (CAGR) of 6.1%.
There are several major factors responsible for this growth, including an increase in demand for operational effectiveness, effective asset management, and regulatory compliance in the industry. Organizations across different sectors are adopting CMMS systems to enhance maintenance operations, reduce downtime, and maximize asset utilization, ultimately prolonging the life of their equipment. In addition, the ability of CMMS to facilitate regulatory compliance by maintaining accurate maintenance and inspection records is supporting its adoption.
In spite of its expansion, the market also presents some challenges. High costs of implementation are a major impediment, particularly for small and medium-sized enterprises (SMEs) that can be overwhelmed by the initial investment needed for the adoption of CMMS. Furthermore, the complexity of integrating CMMS within legacy enterprise environments is a challenge, especially for older systems of firms. Issues of security of data, particularly with cloud-based CMMS solutions, also pose a problem since companies prefer to protect sensitive information.
