LeapZipBlog: Market-NewsFlash's blog: Asset Performance Management Market 2025- All Secrets & Future Forecast In One Place - Check It Now

Asset Performance Management Market 2025- All Secrets & Future Forecast In One Place - Check It Now

November 20, 2019 by Market-NewsFlash  

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 2025

Asset Performance Management (APM) Market Overview

The 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. Currently, Industry 4.0 is revolutionizing the manufacturing industry. This phase demands the use of intelligent technologies such as machine learning, AI, IoT, and enhanced IT infrastructure to build smart manufacturing plants in the future. 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. These technological changes in the manufacturing sector are fueling the adoption and implementation of asset performance management solutions.

Competitive Analysis

The prominent players operating in the APM market are 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 a 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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Segmental Analysis

The global APM market has been segmented on the basis of offering, deployment mode, vertical, and region.

Growth

Regional Analysis

Regionally, the APM market has been divided into North America, Europe, Asia-Pacific (APAC), and the Middle East & Africa, and South America

Europe was the second-largest market in 2018 in terms of market share; it is projected to grow at a CAGR of 10.9%. Some of the factors that contribute to the growth of the asset performance management market include the presence of companies such as Nexus Global, BMC Software, Inc., Assetic, Schneider Electric, and the rapid growth of manufacturing industry. An Increase in government budgets and the launch of new technologies in the UK are also some of the primary factors contributing to the growth of the global asset performance management market.

The market in Asia-Pacific is projected to gain a share of 20% in 2018. China is expected to be a leading country-level market and is expected to register 12.2% CAGR followed by Japan. Advancements in digital technology are one of the factors promoting the growth of the market during the assessment period.

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About 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), Continuous-Feed Research (CFR), and Market Research and Consulting Services.
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