Global Asset Performance Management Market (2021 to 2026) - by Component, Organization Size, Deployment, Industry and Geography
DUBLIN, Oct. 26, 2021 /PRNewswire/ -- The "Global Asset Performance Management Market (2021-2026) by Component, Organization Size, Deployment, Industry, Geography, Competitive Analysis and the Impact of COVID-19 with Ansoff Analysis" report has been added to ResearchAndMarkets.com's offering.
The Global Asset Performance Management Market is estimated to be USD 3.8 Bn in 2021 and is expected to reach USD 6.6 Bn by 2026, growing at a CAGR of 11.5%.
Key factors contributing to the growth of the asset performance market are the rising need for risk-based maintenance devices in asset-intensive industries. Such solutions can be helpful in delivering critical insights into the productivity of the assets in the organization. Also, there have been rising investments in cloud-based applications such as augmented reality applications, which can be a growth driver to the Asset Performance Management (AFM) market. Application of IT and OT (Operational Technology) in the manufacturing industries and rising demand for improving machine efficiency, productivity, and performance are factors driving the growth of the market.
The cost of implementing these solutions is comparatively high. Thus, it has resulted in less deployment among SMEs. Also, a lack of awareness about cybersecurity is likely to hamper the growth of the market.
Market Dynamics
Drivers
- Rising Need for Risk-Based Maintenance
- Need to Maximize Economic Return on Assets
- Rising Investments in Cloud-Based Applications
Restraints
- High Cost of Implementation
- Lack of Awareness about the Cybersecurity Issues
Opportunities
- Implications of Industry 4.0 and Iiot in Asset Intensive Industries
- Growing Use of Analytics Among Asset Performance Management Solutions
- Government Regulations for Manufacturing Plants Amidst Environmental Concerns
Challenges
- Lack of Industry Expertise
Company Profiles
Some of the companies covered in this report are ABB, Aspen Technology Inc., Bentley Systems Incorporated, General Electric, Osisoft, Prevas AB, Infor Inc, Siemens AG, SAP SE, GE Digital and IBM Corporation, etc.
Competitive Quadrat
The report includes a Competitive Quadrant, a proprietary tool to analyze and evaluate the position of companies based on their Industry Position score and Market Performance score. The tool uses various factors for categorizing the players into four categories. Some of these factors considered for analysis are financial performance over the last 3 years, growth strategies, innovation score, new product launches, investments, growth in market share, etc.
Why buy this report?
- The report offers a comprehensive evaluation of the Global Asset Performance Management Market.
- The report includes in-depth qualitative analysis, verifiable data from authentic sources, and projections about market size. The projections are calculated using proven research methodologies.
- The report has been compiled through extensive primary and secondary research. The primary research is done through interviews, surveys, and observation of renowned personnel in the industry.
- The report includes in-depth market analysis using Porter's 5 force model and the Ansoff Matrix. The impact of Covid-19 on the market is also featured in the report.
- The report also contains the competitive analysis using the Competitive Quadrant, the analyst's Proprietary competitive positioning tool.
Report Highlights:
- A complete analysis of the market including parent industry
- Important market dynamics and trends
- Market segmentation
- Historical, current, and projected size of the market based on value and volume
- Market shares and strategies of key players
- Recommendations to companies for strengthening their foothold in the market
Key Topics Covered:
1 Report Description
2 Research Methodology
3 Executive Summary
4 Market Overview 4.1 Introduction 4.2 Market Dynamics 4.2.1 Drivers 4.2.2 Restraints 4.2.3 Opportunities 4.2.4 Challenges 4.3 Trends
5 Market Analysis 5.1 Porter's Five Forces Analysis 5.2 Impact of COVID-19 5.3 Ansoff Matrix Analysis
6 Global Asset Performance Management Market, By Component 6.1 Introduction 6.2 Solutions 6.2.1 Asset Strategy Management 6.2.2 Asset Reliability Management 6.2.3 Predictive Asset Management 6.2.4 Others 6.3 Services 6.3.1 Professional Services 6.3.1.1 Implementation and Integration 6.3.1.2 Support and Maintenance 6.3.1.3 Consulting 6.3.2 Managed Services
7 Global Asset Performance Management Market, By Organization Size 7.1 Introduction 7.2 Large Enterprises 7.3 Small and Medium-Sized Enterprises
8 Global Asset Performance Management Market, By Deployment 8.1 Introduction 8.2 Cloud 8.3 On-premise
9 Global Asset Performance Management Market, By Vertical 9.1 Introduction 9.2 Energy and Utilities 9.3 Oil and Gas 9.4 Manufacturing 9.5 Mining and Metals 9.6 Healthcare and Life Sciences 9.7 Chemical and Pharmaceuticals 9.8 Government and Defense 9.9 Information Technology (IT) and Telecom 9.10 Food and Beverages 9.11 Others (Real Estate, Transport and Logistics)
10 Global Asset Performance Management Market, By Geography
11 Competitive Landscape 11.1 Competitive Quadrants 11.2 Market Share Analysis 11.3 Competitive Scenario 11.3.1 Mergers & Acquisitions 11.3.2 Agreements, Collaborations, & Partnerships 11.3.3 New Product Launches & Enhancements 11.3.4 Investments & Fundings
12 Company Profiles 12.1 ABB 12.2 Aspen Technology, Inc. 12.3 AVEVA Group plc 12.4 BENTLEY Systems, Incorporated 12.5 DNV GL AS 12.6 GE Digital 12.7 IBM Corporation 12.8 SAP SE 12.9 SAS Institute Inc 12.10 Siemens AG 12.11 Oracle Corporation 12.12 Infor Inc 12.13 Schneider Electric 12.14 Prevas Ab 12.15 Arc Advisory Group 12.16 Nexus Global Business Solutions 12.17 Osisoft 12.18 Emaint 12.19 Accruent 12.20 Aptean 12.21 Rockwell Automation 12.22 Arms Reliability 12.23 Intelligent Process Solutions 12.24 Uptake Technologies
13 Appendix
For more information about this report visit https://www.researchandmarkets.com/r/lmvmc6
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