Plant Asset Management Market 2024 Technological Breakthroughs after COVID-19 Pandemic

Tom C

The plant asset management market is expected to grow from USD 5.5 billion in 2019 to USD 9.4 billion by 2024, at a CAGR of 11.3%. The market’s growth is propelled by surging adoption of lean manufacturing practices by several organizations, increasing focus on providing cloud-based PAM solutions to satisfy customer demands, escalating demand for asset management software that can identify potential failures to avoid futuristic loss, and growing need for real-time data analytics.

Plant Asset Management Market for cloud-based (online) deployment to grow at higher CAGR from 2019 to 2024

The market for cloud-based (online) PAM solutions is expected to grow at the highest CAGR during the forecast period. The adoption of cloud-based (online) PAM software solutions is the most suitable option for small and medium-sized enterprises due to its low cost. Quick installation and easy access to cloud save time and help end-user industries to make better decisions to improve efficiency, as well as focus on other important business parameters.

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Automation assets to exhibit high growth in PAM market during forecast period

The plant asset management market for automation assets is expected to register the highest CAGR during the forecast period. Increasing adoption of automation systems to enhance the production capacity in the process industries. However, different types of automation systems such as programmable logic controllers (PLCs) and distributed control systems (DCSs) find applications in discrete industries, thereby fueling the demand for PAM solutions for effective handling of automation assets too.

Plant Asset Management Market in APAC to grow at highest CAGR during forecast period

The PAM market in APAC is expected to grow at the highest CAGR during the forecast period. The adoption of PAM solutions is high in APAC due to the growing manufacturing sector in the region. Most of the key manufacturers from different industries have shifted their manufacturing plants in APAC due to the low labor cost and availability of a skilled workforce. These manufacturing units are using asset management solutions for the improvement in the overall manufacturing processes, which is expected to drive the growth of the PAM market in the region.

Key Market Players

As of 2018, Emerson (US), Honeywell (US), Rockwell (US), ABB (Switzerland), Schneider (France), Yokogawa (Japan), General Electric (US), and Siemens (Germany) dominated the PAM market.

Tom C

Plant Asset Management Market Opportunities and Challenges

Tom C 2020-01-20

According to the new market research report "Plant Asset Management Market (PAM) by Offering (Software and Services), Deployment Mode (Cloud-based and On Premises), Asset Type (Production Assets and Automation Assets), End-user Industry (Process and Discrete), and Geography - Global Forecast to 2024", published by MarketsandMarkets™, the Plant Asset Management Market is projected to grow from USD 5.5 billion in 2019 to USD 9.4 billion by 2024, at a CAGR of 11.3%.

Major factors fueling the market growth include surging adoption of lean manufacturing practices by several organizations, increasing focus on providing cloud-based PAM solutions to satisfy customer demands, escalating demand for asset management software that can identify potential failures to avoid futuristic loss, and growing need for real-time data analytics.

Ask for PDF Brochure:https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=8606975 Services to lead plant asset management market by 2024 The deployment of PAM software is a costly process and a one-time activity, whereas PAM services that include maintenance needs, software upgrades, and personnel training are demanded by end-user industries continuously.

Hence, PAM services have a more significant contribution to generating more revenue than PAM software solutions.

Further, market players are focusing on offering industry-specific services to meet the ever-changing demands of different industries.

Production assets to hold largest share of PAM market during forecast period Rising adoption of PAM solutions for monitoring rotating and reciprocating equipment, among others, across various industries is expected to drive the growth of the PAM market during the forecast period.

Plant Asset Management Market Analysis and Demand with Forecast To 2023

Shweta Raj 2021-01-14

Plant Asset Management Market Research Report: Information by Offering (Software, Service), by Deployment Mode (Offline, Cloud), by Asset Type (Production Asset, Automation Asset), by End-User (Chemical, Aerospace and Defense) by Region - Global Forecast till 2023Market OverviewMarket Research Future (MRFR) emphasizes in its research report that the global market 2020 is projected to rise rapidly over the review period, achieving a significant market valuation from USD 5.20 Billion in 2017 to USD 8.78 billion by 2023, and a healthy CAGR of 9.5% over the review period.

Drivers and RestraintsGrowing demand for a cloud-based plant asset management solution drives the plant asset management market.

Growing awareness about the adoption of low-cost manufacturing plants, rising customer needs and growing trends in integrating IT and operational technology among others are key factors driving growth in the plant asset management sector.

This is due to the rising IoT market and an increasing demand from end-user industries for new technologies.On the other hand, one of the major factors hampering the growth of the plant asset management market is high initial cost of investment.

In addition, the need for periodic upgrading and the complexities involved in plant asset management solutions installations can hinder market development.Get a Free Sample @ https://www.marketresearchfuture.com/sample_request/1788Segmental AnalysisBy offering, the market is bifrucated into software and services.By deployment mode, the plant asset market is divided into offline deployment and cloud deployment.By asset type, the market is bifurcated into production asset and automation asset.By end user, the market is divided into chemical, energy and power, food and beverages, oil and gas, healthcare, aerospace & defense, automotive, and others.Regional AnalysisThe global business regional analysis was conducted in four major regions including Asia Pacific, North America, Europe and the rest of the world.Asia-Pacific owing to the presence of numerous main players and vendors in the area is expected to dominate the plant asset management market.

The rising economy has led to growth in Japan, India, China and other Asian countries as the industries adopt plant asset management to minimize maintenance costs.This trend is fueling market growth as foreign investment in the region is growing.

Forecasting Success: A Deep Dive into the Growth of Digital Asset Management

Pushpendra Shukla 2023-11-23

The data recorded in the report range ten years, trailed by a methodical audit to lead a top to bottom investigation of the Digital Asset Management Market. Owing to this, digital asset management was widely adopted to cater to such complexities. com/Inquire-before-buying/digital-asset-management-market Recent Developments in the Digital Asset Management Market· In September 2020, Nuxeo launched a next-generation Salesforce Connector to enhance the integration between the Nuxeo Platform and Salesforce Lightening and to facilitate better content management from within the Salesforce platform. Reasons to Acquire Digital Asset Management Market Report· Increase your understanding of the market for identifying the best and suitable strategies and decisions on the basis of sales or revenue fluctuations in terms of volume and value, distribution chain analysis, market trends and factors· Gain authentic and granular data access for Digital Asset Management Market so as to understand the trends and the factors involved behind changing market situations· Qualitative and quantitative data utilization to discover arrays of future growth from the market trends of leaders to market visionaries and then recognize the significant areas to compete in the future· In-depth analysis of the changing trends of the market by visualizing the historic and forecast year growth patternsTable of ContentsDigital Asset Management Market is segmented into deployment, organization size, end user and region. Delvens offers significant facts and figures across various industries: Healthcare, IT & Telecom, Chemicals & Materials, Semiconductor & Electronics, Energy, Pharmaceutical, Consumer Goods & Services, and Food & Beverages.

Digital Asset Management Market | Trend Analysis, Regional Outlook, And Forecasts 2031

Biswadeep 2022-02-24

With updated market numbers according to the effects of the coronavirus, the report provides the most accurate expected digital asset management market growth numbers from 2022-2031. id=5278&type=smp The global digital asset management market size is expected to grow from $4. com/report/digital-asset-management-global-market-report The Digital Asset Management Global Market Report 2022-31 by The Business Research Company evaluates digital asset management market size, growth rate, drivers, digital asset management industry trends, and major companies. Impact Of COVID-19 On Digital Asset Management5. Key Mergers And Acquisitions In The Digital Asset Management Market29.

Wireless Asset Management Market Growth Analysis, Outlook Report 2024-2033

Bhuvan 2024-02-26

Learn More On The Wireless Asset Management Market:https://www. The wireless asset management market size is expected to see rapid growth in the next few years. Major companies operating in the wireless asset management market are adopting new technologies to sustain their position in the market. The wireless asset management market report table of contents includes:Executive SummaryWireless Asset Management Market CharacteristicsWireless Asset Management Market Trends And StrategiesWireless Asset Management Market - Macro Economic ScenarioGlobal Wireless Asset Management Market Size and Growth. info/ Healthcare Blog: https://healthcareresearchreports.

Digital Asset Management Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2025)

Mnm 2021-12-01

The report "Digital Asset Management Market by Component (Solution and Services), Business Function (HR, Sales Marketing, and IT), Deployment Type, Organization Size, Vertical (Media Entertainment, Retail eCommerce, and BFSI), and Region - Global Forecast to 2025", size is projected to grow from USD 3. This growth is supported by the need for creating curated digital assets, enabling its centralized storage, and optimizing inter-department and intra-department collaboration. Factors such as rising digital assets, increasing digitalization, and rising enterprise spending on digital solutions have also contributed to the high adoption of the DAM solution. About MarketsandMarkets™MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM".

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