LeapZipBlog: Market-NewsFlash's blog: Asset Performance Management Market 2025 | Latest Update, Trends & International News In One Place - Check Out Now

Asset Performance Management Market 2025 | Latest Update, Trends & International News In One Place - Check Out Now

December 9, 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 Market Highlights

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).

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Top Drivers and Key Barriers

The 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 Segmentation

The 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. Among these, the enterprise asset management software segment accounted for the largest market share in 2018 and is now anticipated to record a CAGR of 8.5% during the assessment period.

In terms of deployment: Cloud and on-premise are the segments. Wherein, the on-premise deployment segment occupied a relatively more significant market share of 63.3% in 2018, and now it is touted to register a CAGR of 9.5% during the forecast period.

Vertical based segmentation of the market comprises of manufacturing, oil & gas, energy & utility, healthcare, IT & telecommunication, and more. Among these, the oil & gas segment occupied the largest market share in 2018; and now it is probable to record a CAGR of 11.2% during the review 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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