The Global Asset Performance Management Market size was estimated to be US$ 14.4 billion in 2019. Increasing investment in development of smart industrial solutions, expanding manufacturing and process industries across the globe, and rising penetration of advanced analytics solution across industrial applications are major factors contributing towards the growth of global asset performance management market.
Asset performance management (APM) is an essential tool in monitoring, maintaining and improving reliability and availability of physical assets for optimized operational performance. The asset performance management solutions facilitate information sharing and application integration between maintenance and operations.
It primarily focuses on predictive maintenance, condition monitoring, reliability-centered maintenance and asset integrity management with the help of advanced technologies such as asset health data collection, analytics and visualization. It helps in optimizing the production process by predicting potential failures before their occurrence.
Increased investment in Smart Factory, Industrial Internet of Things (IIoT) and Industry 4.0 is anticipated to fuel the adoption of advanced analytics tools to predict and prevent asset failures in order to optimize production lead time and improve safety of critical assets. This is anticipated to contribute towards the growth of global asset performance management market in coming years.
North America contributed the largest share to the global asset performance management market in 2019 owing to the presence of leading solution developers and increased investment in advanced industrial solutions. The demand for advanced analytic solutions has increased significantly across the United States owing to proliferation of Smart Factory and Industrial Internet of Things across several end use industries.
Development and early adoption of advanced industrial solutions across the region is anticipated to drive the growth of the North America asset performance management market during forecast period. Asia Pacific is anticipated to be the fastest growing segment during the forecast period owing to increased investment in adoption of advanced industrial solutions and expansion of multiple end use industries across major countries in East Asia.
Asset Performance Management (APM) Market Share Analysis, by Geography (2022)
The report titled “Asset Performance Management (APM) Market - Global Market Share, Trends, Analysis and Forecasts, 2023-2032” wherein 2021 is historic period, 2022 is the base year, and 2023 to 2032 is forecast period. Additionally, the study takes into consideration the competitive landscape, wherein the report would provide company overview and market outlook for leading players in the global Asset Performance Management (APM) market.
Furthermore, the report would reflect the key developments, global & regional sales network, business strategies, research & development activities, employee strength, and key executive, for all the major players operating in the market.
The global asset performance management (APM) market is segmented on the basis of component, deployment, organization size, end use industry, and geography. Based on component, the global asset performance management market is segmented into solution and services. The asset performance management solutions are further sub-segmented into asset strategy management, asset reliability management, predictive asset management, and others. The asset performance management services are further sub-segmented into professional services (implementation and integration, support and maintenance, and consulting) and managed services. Based on deployment, the global asset performance management market is segmented into cloud and on-premise. Based on organization size, the global asset performance management market is segmented into large enterprise and small and medium enterprise (SME). Based on end use industry, the global asset performance management market is segmented into oil & gas, energy & utility, chemicals, manufacturing, pharmaceuticals, food & beverages, metal & mining, healthcare, aerospace & defense, IT & telecommunication, and others. Based on geography, the global Asset Performance Management (APM) market is segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America.
The research provides in-depth analysis of prominent players holding majority share of the global market with a focus on all operating business segment and would identify the segment of the company focusing on asset performance management. Further, market share of prominent companies in the global asset performance management market would also be estimated.
The study takes into consideration the key competitive information such as business strategy, product portfolio, key development, SWOT analysis, and research and development focus of all the asset performance management companies.
The global asset performance management market study would take into consideration the participants engaged throughout the ecosystem of the market, along with their contribution. Product portfolio would focus on all the products under the asset performance management business segment of the company.
Similarly, the recent development section would focus on the latest developments of company such as strategic alliances and partnerships, merger and acquisition, new product launched and geographic expansion in the global asset performance management market.
Major players active in the global asset performance management market include ABB, Aspen Technology, Inc., AVEVA Group plc, BENTLEY SYSTEMS, INCORPORATED, DNV GL AS, General Electric, IBM Corporation, Infor, Oracle, OSIsoft, Rockwell Automation, Inc., SAP SE, SAS Institute Inc., Siemens, and Uptake Technologies Inc.
By Component
By Deployment
By Organization Size
By End-use Industry
By Geography
The sample report for the Asset Performance Management (APM) Market can be obtained on demand from the website. Also, the 24*7 chat support & direct call services are provided to procure the sample report.
The major active players are ABB, Aspen Technology, Inc., AVEVA Group plc, BENTLEY SYSTEMS, INCORPORATED, DNV GL AS, General Electric, IBM Corporation, Infor, Oracle, OSIsoft, Rockwell Automation, Inc., SAP SE, SAS Institute Inc., Siemens, and Uptake Technologies Inc..
The end-use segments in Asset Performance Management (APM) market are Oil & Gas, Energy & Utility, Chemicals Manufacturing, Pharmaceuticals, Food & Beverages, Metal & Mining, Healthcare, Aerospace & Defense, IT & Telecommunication and Others.
North America is the principal contributor to the global Asset Performance Management (APM) market.
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