Asset Performance Management Market Overview
The Global APM Market is expected to expand at 10.7% CAGR to reach a market value of 18,765.1 million in 2025.
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High demand for improving machine efficiency, productivity, and performance is a primary factor driving the growth of the market during the forecast period. Organizations worldwide are facing pressures of capital and operational expenditure and are actively trying to reduce the same. Cutting down on assets may not always be the solution in such situations. As such, asset performance management systems help improve the efficiency, productivity, and performance of assets. APM solutions automate tasks, such as maintenance planning, thereby reducing unplanned downtime and increasing asset availability. APM can be used to optimize various processes, such as operations, maintenance, and quality management. It is especially helpful in verticals where wastage of resources and inefficiency occur. This approach helps improving key metrics such as uptime, mean time to repair (MTTR), asset longevity, cost, quality/yield, and safety. Successful implementation of these metrics helps improve crucial key performance indicators (KPIs) such as margins, revenue, and customer satisfaction.
Segmental Analysis
The APM market segment has been categorized on the basis of offering, deployment mode, vertical, and region.
Based on offering, the APM market has been segmented into software type (data management software, predictive asset analytics tools, enterprise asset management software, and pattern recognition software) and services (professional and managed)
Based on deployment mode, the APM market comprises on-premise and cloud.
By vertical — manufacturing, oil & gas, energy & utility, healthcare, IT & telecommunication, and others.
Regional Analysis
Asia-Pacific is expected to register the highest CAGR during the forecast period. For the purpose of analysis, the market in Asia-Pacific has been categorized as China, Japan, India, and the rest of Asia-Pacific. The market in Asia-Pacific attained a market share of 20% in 2018. Governments of countries such as China, Japan, and India are focused on the development of its manufacturing and oil & gas industries and advancements in digital technology, which can boost the growth of the market during the assessment period.
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Competitive Analysis
The prominent players profiled in the APM market include Aspen Technology (US), AVEVA Group PLC (UK), Bentley Systems, Incorporated (US), Detechtion Technologies (Canada), IBM Corporation (US), Operational Sustainability, LLC (US), Rockwell Automation (US), SAP SE (Germany), SAS Institute Inc. (US), and Schneider Electric (France). Apart from these, other companies that have significant market share that include ABB (Switzerland), ARMS Reliability (Australia), DNV GL (Norway), GE Digital (US), IPS (Germany), SAP SE (Germany), Siemens (Germany), Uptake Technologies Inc. (US)
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The need to ensure continued reliability on physical assets is predicted to transform the asset performance management market 2020.
A 10.7 % CAGR is estimated to guide the market worth to USD 18,765.1 million by 2025.
The surging demand level from the manufacturing sector and elevated demand for progressing machine efficiency are predicted to spur the asset performance management market share in the impending period.The energy & utility segment requires constant monitoring, and this is projected to guide the asset performance management market size around the world.
Request a Free Sample @ https://www.marketresearchfuture.com/sample_request/8149 Competitive Outlook: The prominent contenders operating in the asset performance management market are AVEVA Group PLC (UK), Bentley Systems, Incorporated (US), Detechtion Technologies (Canada), IBM Corporation (US), Operational Sustainability, LLC (US), Aspen Technology (US), SAP SE (Germany), ARMS Reliability (Australia), Siemens (Germany) Rockwell Automation (US), SAP SE (Germany), SAS Institute Inc. (US), and Schneider Electric (France), ABB (Switzerland), DNV GL (Norway), GE Digital (US), IPS (Germany), and Uptake Technologies Inc. (US) to name a few.
Based on the regions, the asset performance management market has been segmented into Europe, the Middle East, Asia Pacific, Africa, North America, and South America.
The rapid adoption of advanced technologies and improvements in industrial technology are a few of the factors accountable for the development of the asset performance management market.
The Asset Performance Management Market Research report provides an in-depth analysis of the industry, including current and future growth patterns, end-user analysis and key data that have been validated by experts.
This report examines the market's importance, share and size, demand and supply as well as models, competitive landscape, industry chain analysis and other important factors.
The Asset Performance Management Market Research Report assesses the global Asset Performance Management Marketplace industry market.
These segments are examined carefully to provide a greater understanding of global and regional markets.
This report includes detailed information on regional market performance and competitive analysis in order to assist clients in making informed decisions about their investments in the Asset Performance Management market.
The report covers the following: • SAP• Ge Digital• Ibm• Aveva• Osisoft• Bentley Systems• Siemens• Oracle• Infor• Aspentech• Dnv Gl• Emaint• Nexus Global• Accruent• Aptean• Operational Sustainability• Rockwell Automation• Arms Reliability• Intelligent Process Solutions• Uptake Technologies• Detechtion Technologies• SAS Institute Inc.• Schneider Electric• ABB• eMaint Asset Performance Management Market Segmentation Asset Performance Management Market, by Product Type Asset Performance Management Market, by Material Asset Performance Management Market, by Type of Vehicle Asset Performance Management Market Report Scope REPORT ATTRIBUTE INFO For years 2021-2028, market size available Considered the base year for 2021 Historical data 2015-2020 Forecast Period 2021-2028 Quantitative units Revenues in USD millions and CAGR 2021-2028 Segments covered Types, Applications and End-Users.
Global Asset Performance Management Market Research Report — by Offering {Software Type(Data Management Software, Predictive Asset Analytics Tools, Enterprise Asset Management Software, and Pattern Recognition Software) Services(Managed Services And Professional Services)}, Deployment Mode (Cloud, On-Premise), Vertical (Manufacturing, Oil & Gas, Energy & Utility, Healthcare, IT & Telecommunication), and by Region {North America (US, Canada, Mexico), Europe (Germany, UK, France, Italy, Spain, and Rest of Europe), Asia Pacific (China, Japan, Rest of Asia Pacific, and India), the Middle East & Africa, and South America} — Forecast till 2025Asset Performance Management Market OverviewThe global asset performance management (APM) market is expected to reach 18,765.1 million by 2025, growing at a CAGR of 10.7% during the forecast period (2018–2025).
In this report, Market Research Future (MRFR) includes market segmentation and market dynamics to offer a better glimpse of the market in the coming years.Applications of IT(Information Technology) and OT(Operational Technology) in the manufacturing sector is expected to drive the growth of asset performance management during the forecast period.
The convergence of IT and OT is used to monitor events, processes, and devices and adjust enterprise and industrial operations.
IoT solutions customized for asset performance management allow manufacturing firms to plan and optimize present asset requirements, predict asset failure for zero downtime through repairs and replacement of stressed assets, and ensure seamless operations.
As such, asset performance management systems help improve the efficiency, productivity, and performance of assets.
APM solutions automate tasks, such as maintenance planning, thereby reducing unplanned downtime and increasing asset availability.
Asset Performance Management MarketThe sudden challenges created by the ongoing COVID-19 are captured effectively to exhibit the long term growth projections in the MRFR report on Asset Performance Management Market.
The growth sectors of the Asset Performance Management Market are identified with precision for a better growth perspective.The global asset performance management market is awaited to reach the approximate valuation of 18,765.1 million in 2025, claims Market Research Future (MRFR), by attaining a CAGR of 10.7% during the forecast period (2017-2023).Top Drivers and Key BarriersThe rising applications in IT (Information Technology) and OT (Operational Technology) in the manufacturing sector, as well as high demand for improving machine efficiency, are taking the market towards growth.
Mounting need for productively and enhanced performance has also led to the development of asset performance management in the past couple of years.The beneficiaries offered by the asset performance management, such as reliability and availability with happens with the help of asset performance management software has also contributed largely to the global market growth of asset performance management.
At the same time, as per the study, the asset performance management will also witness considerable growth during the forecast period is the surging number of large-sized facilities and necessities.
These are counted among the essential factor in the market growth in almost every region of the world.On the flip side, the factor of the high cost of implementing such solutions is resulting in limited deployment among SMEs, which could hinder the growth of global market for asset performance management in the future.Market SegmentationThe worldwide asset performance management market, as per the study, has been segmented by the elements of offering, deployment mode, and vertical.With respect to offering: Software types and services are the segments.
Wherein, the software type segment has been categorized among data management software, predictive asset analytics tools, enterprise asset management software, and pattern recognition software.
