Remote Asset Management Industry
A remote asset management software is the perfect tool for a modern day enterprise owner. It enables you to keep tabs on your assets & aids in managing them much more efficiently. This technology basically paves way for a dual sided communication amongst the asset and the central application authority. It can be utilized effectively to employ and control the asset much more suitably than before. Lately, the demand for this software has risen drastically. Thanks to this, the remote asset management market is being benefitted.
In simple words remote asset management enables the recipient to monitor an asset since the time it was brought to the time its service life ends. In business terms – from procurement to disposal. By the use of this software users can get to know the exact location of their product, how it is being employed and other essential information regarding it.
This comprehensive tool can help business owners manage their assets in the right manner. By doing this they can garner the best results for their business. Majority of the companies these days are opting for this beneficial software. Going by this, it can be confidently said that this technology will achieve great heights of success in the coming years.
Market Scenario
The industrial sector is flooded with various kinds of technological advancements. Due to this it can be confidently asserted that in the coming years this market will garner a whole lot of benefits. In terms of revenue, the market is expected earn around USD 26.57 billion. During the forecast period of 2018-2022, the market is estimated to tread forward at a staggering CAGR of 26.89%.
There are many growth drivers collectively bring about success and development for this market. One of the major growth propellers is the heightened usage of wireless communication in the industrial & commercial sectors. As a result of excessive usage, the market has been hugely benefitted.
Another factor that further drives the growth of the market is the higher necessity for adoption of internet of things based asset management. In addition to these, there are some other factors like improving asset service cycle and drop in the cost of ioT components further foster the growth of the market.
Remote Asset Management Market
According to Market Research Future, market has been segmented into application, solutions and region.
By Solutions-
- Surveillance and security
- Network Bandwidth management
- Asset Performance management
- Application management
- Connectivity management
- Professional services
- Managed services
- Real-time location tracking
- Asset condition monitoring
- Predictive maintenance
By Application-
- Automation
- Healthcare and wellness
- Smart retail
- Utilities and grids
- Production monitoring
- Connected logistics
- Fleet management
- Others
Connected logistics & fleet management accounted for the largest market share because of the integrating advanced technologies, delivering real-time online information for vehicle maintenance, vehicle status whether its moving or stopped, engine status and others. It also helps supply chain managers because of asset tracking.
Predictive maintenance accounted for the largest market share majorly due to providing solutions for asset failure or quality issues, reduction in maintenance costs. Also, predictive maintenance plays an important role across various industries.
The key players in the global remote asset management market include IBM Corporation (U.S.), Cisco Systems, Inc U.S.),AT&T Intellectual Property (U.S), Hitachi, Ltd. (Japan), Verizon Communications, Inc. (U.S.), PTC Inc. (U.S.), SAP SE (Germany), Rockwell Automation, Inc. (U.S.), Schneider Electric SE (France), and Infosys Limited (India) and others.
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Remote Asset Management IndustryIn this era of Industry 4.0, the technology advancements revolve around connected devices, Internet of Technology (IoT), and wireless technologies.
The vendors of technology have been developing innovating services and solutions that would leave no stone unturned to enhance the efficiency of the enterprises, And why not?
It necessitates that the organization is equipped with modern technologies to counter modern day problems.Remote asset management services mainly cater to the monitoring and tracking of the condition of the remotely located assets.
With the expansion of the global footprints of organizations, problems related to the management of these assets started popping up.
It provides the managers with ample time to focus on decision making and core business.
These benefits are as follows –TrackingRemote asset management facilitates the management of an entire list of assets owned and leased, disposed and changed, etc.
Remote Asset Management Market ResearchAccording to Market Research Future Analysis, Remote Asset Management Market has been valued at USD ~27 billion by 2022 growing with ~27% of CAGR during forecast period 2016 to 2022.Remote Asset management helps remote monitoring, maintenance of assets, machines to help businesses to grow.
The two way communication in remote asset management is the main feature of remote asset management.The opening up of two-way communication between the asset and the central application helps better control and management of assets.
The growing demand for the adoption of Iot based asset management, enhancing asset lifecycle and declining cost of IoT components which helps in cost-effective remote asset management solutions are the main factors contributing to the growth of the market.Also, various functions such as intrusion detection, access control systems, asset tracking, asset recovery, real-time monitoring, real-time notifications, and others provides solutions to monitor.
Hence, asset tracking, monitoring, and management would help supply chain managers to locate, check status, fleet data, routing, scheduling, driver behavior, diagnostic, and othersAccording to Market Research Future, market has been segmented into application, solution and region.Remote Asset Management MarketAccording to Market Research Future, market has been segmented into application, solutions and region.By Solutions-Surveillance and securityNetwork Bandwidth managementAsset Performance managementApplication managementConnectivity managementProfessional servicesManaged servicesReal-time location trackingAsset condition monitoringPredictive maintenanceBy Application-AutomationHealthcare and wellnessSmart retailUtilities and gridsProduction monitoringConnected logisticsFleet managementOthersConnected logistics & fleet management accounted for the largest market share because of the integrating advanced technologies, delivering real-time online information for vehicle maintenance, vehicle status whether its moving or stopped, engine status and others.
It also helps supply chain managers because of asset tracking.Predictive maintenance accounted for the largest market share majorly due to providing solutions for asset failure or quality issues, reduction in maintenance costs.
Also, predictive maintenance plays an important role across various industries.More Information@Global Remote Asset Management Market Report- Forecast 2022|MRFRRemote Asset Management Market by Solutions and Application, Global Remote Asset Management Market…Read on marketresearchfuture.comAbout Market Research Future:At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Reports (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R),a Continuous-Feed Research (CFR), and Market Research and Consulting Services.Contact:Market Research Future+1 646 845 9312Email: [email protected]
February 12, 2019: In 2018, the global Industrial Remote Asset Management market size was million US$ and it is expected to reach million US$ by the end of 2025, with a CAGR of during 2019-2025.This report focuses on the global Industrial Remote Asset Management status, future forecast, growth opportunity, key market and key players.
The study objectives are to present the Industrial Remote Asset Management development in United States, Europe and China.The key players covered in this studyABBSchneider ElectricPTC IncDownload sample Copy of This Report at: https://www.radiantinsights.com/research/global-industrial-remote-asset-management-market-size-status-and-forecast-2019-2025/request-sample Rockwell AutomationRobert BoschGeneral ElectricMarket segment by Type, the product can be split intoApplication ManagementDevice ManagementConnectivity ManagementComplete Report Available @ https://www.radiantinsights.com/research/global-industrial-remote-asset-management-market-size-status-and-forecast-2019-2025 Market segment by Application, split intoPowerOil & GasMarineWater & WastewaterMarket segment by Regions/Countries, this report coversUnited StatesEuropeChinaJapanSoutheast AsiaIndiaCentral & South AmericaThe study objectives of this report are:To analyze global Industrial Remote Asset Management status, future forecast, growth opportunity, key market and key players.To present the Industrial Remote Asset Management development in United States, Europe and China.To strategically profile the key players and comprehensively analyze their development plan and strategies.To define, describe and forecast the market by product type, market and key regions.In this study, the years considered to estimate the market size of Industrial Remote Asset Management are as follows:History Year: 2014-2018Base Year: 2018Estimated Year: 2019Forecast Year 2019 to 2025About Radiant InsightsRadiant Insights is a platform for companies looking to meet their market research and business intelligence requirements.
We assist and facilitate organizations and individuals procure market research reports, helping them in the decision making process.
We have a comprehensive collection of reports, covering over 40 key industries and a host of micro markets.
In addition to over extensive database of reports, our experienced research coordinators also offer a host of ancillary services such as, research partnerships/ tie-ups and customized research solutions.For More Information, Visit Radiant Insights Contact:Michelle ThorasCorporate Sales Specialist, USARadiant Insights, IncPhone: 1-415-349-0054Toll Free: 1-888-202-9519Email: [email protected] Blog URL: http://ictmarketforecasts.wordpress.com
