DUBLIN, Oct. 27, 2023 /PRNewswire/ — The “Global Asset Performance Management Market (2021-2027) by Component, Organization Size, Deployment, Industry, and Geography, Competitive Analysis, Impact of Covid-19, 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 2023 and is expected to reach USD 7.3 Bn by 2027, 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
The global asset performance management market is segmented based on component, organization size, deployment, industry, and geography
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 Quadrant
The report includes 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.
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
10.1 Introduction
10.2 North America
10.2.1 US
10.2.2 Canada
10.2.3 Mexico
10.3 South America
10.3.1 Brazil
10.3.2 Argentina
10.4 Europe
10.4.1 UK
10.4.2 France
10.4.3 Germany
10.4.4 Italy
10.4.5 Spain
10.4.6 Rest of Europe
10.5 Asia-Pacific
10.5.1 China
10.5.2 Japan
10.5.3 India
10.5.4 Indonesia
10.5.5 Malaysia
10.5.6 South Korea
10.5.7 Australia
10.5.8 Russia
10.5.9 Rest of APAC
10.6 Rest of the World
10.6.1 Qatar
10.6.2 Saudi Arabia
10.6.3 South Africa
10.6.4 United Arab Emirates
10.6.5 Latin America
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/9s1eyu
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