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Verdantix Says Improving Industrial Asset Management With Digital Technologies Is Gathering PaceThe operational excellence agenda has dramatically increased asset management digitization efforts according to a new study from independent research firm Verdantix. The increase in momentum for asset management digitization will be driven by asset reliability and safe operations becoming a high priority within operational excellence initiatives, rise in spend on operational excellence initiatives, cost-cutting programmes, new technology, and the COVID-19 pandemic and the ensuing economic recession. "In 2020, the twin shocks of the COVID-19 pandemic and ensuing economic downturns disrupted supply chains, closed industrial facilities and changed end-customer spending habits," commented Sebastian Winter, Verdantix industry analyst. "Rather than reducing spend on asset management software applications and other solutions that are part of operational excellence initiatives, these twin factors have increased it." Key findings of the Verdantix report Market Overview: Asset Management Software Landscape:
"The asset management software market includes a diverse set of vendors with solutions for managing information, optimizing work plans and execution, and to improve asset performance," continued Winter. "This market has seen rapid changes over the last few years, and we expect to see this continue with the integration of process safety management into asset management workflows, the emergence of maintenance analytics and digital twins, and continued growth of field service management leveraging connected worker solutions." Learn more on the Verdantix webinar: "Optimising Industrial Facility Management: The Landscape Of Asset Management Software".
View source version on businesswire.com: https://www.businesswire.com/news/home/20210302005980/en/ |