(MENAFN- PR Newswire) DUBLIN, Oct. 27, 2021 /PRNewswire/ -- The "Global Asset Performance Management Market (2021-2027) by Component, Organization Size, Deployment, Industry, and Geography, Competitive Analysis, Impact of Covid-19, Ansoff Analysis" report has been added to ResearchAndMarkets.com's offering.
The Global Asset Performance Management Market is estimated to be USD 3.8 Bn in 2021 and is expected to reach USD 7.3 Bn by 2027, growing at a CAGR of 11.5%.Key factors contributing to the growth of the asset performance market are the rising need for risk-based maintenance devices in asset-intensive industries. Such solutions can be helpful in delivering critical insights into the productivity of the assets in the organization. Also, there have been rising investments in cloud-based applications such as augmented reality applications, which can be a growth driver to the Asset Performance Management (AFM) market. Application of IT and OT (Operational Technology) in the manufacturing industries and rising demand for improving machine efficiency, productivity, and performance are factors driving the growth of the market.The cost of implementing these solutions is comparatively high. Thus, it has resulted in less deployment among SMEs. Also, a lack of awareness about cybersecurity is likely to hamper the growth of the market. Market Dynamics
Drivers
- Rising Need for Risk-Based Maintenance
- Need to Maximize Economic Return on Assets
- Rising Investments in Cloud-Based Applications
Restraints
- High Cost of Implementation
- Lack of Awareness about the Cybersecurity Issues
Opportunities
- Implications of Industry 4.0 and Iiot in Asset Intensive Industries
- Growing Use of Analytics Among Asset Performance Management Solutions
- Government Regulations for Manufacturing Plants Amidst Environmental Concerns
Challenges
- Lack of Industry Expertise
The global asset performance management market is segmented based on component, organization size, deployment, industry, and geography
Company Profiles
Some of the companies covered in this report are ABB, Aspen Technology Inc., Bentley Systems Incorporated, General Electric, Osisoft, Prevas AB, Infor Inc, Siemens AG, SAP SE, GE Digital and IBM Corporation, etc. Competitive Quadrant
The report includes Competitive Quadrant, a proprietary tool to analyze and evaluate the position of companies based on their Industry Position score and Market Performance score. The tool uses various factors for categorizing the players into four categories. Some of these factors considered for analysis are financial performance over the last 3 years, growth strategies, innovation score, new product launches, investments, growth in market share, etc. Why buy this report?
The report offers a comprehensive evaluation of the Global Asset Performance Management Market. The report includes in-depth qualitative analysis, verifiable data from authentic sources, and projections about market size. The projections are calculated using proven research methodologies.The report has been compiled through extensive primary and secondary research. The primary research is done through interviews, surveys, and observation of renowned personnel in the industry. The report includes in-depth market analysis using Porter's 5 force model and the Ansoff Matrix. The impact of Covid-19 on the market is also featured in the report. Report Highlights:
- A complete analysis of the market including parent industry
- Important market dynamics and trends
- Market segmentation
- Historical, current, and projected size of the market based on value and volume
- Market shares and strategies of key players
- Recommendations to companies for strengthening their foothold in the market
Key Topics Covered: 1 Report Description 2 Research Methodology 3 Executive Summary 4 Market Overview 4.1 Introduction 4.2 Market Dynamics4.2.1 Drivers4.2.2 Restraints4.2.3 Opportunities4.2.4 Challenges4.3 Trends 5 Market Analysis 5.1 Porter's Five Forces Analysis5.2 Impact of COVID-195.3 Ansoff Matrix Analysis 6 Global Asset Performance Management Market, By Component 6.1 Introduction6.2 Solutions6.2.1 Asset Strategy Management6.2.2 Asset Reliability Management6.2.3 Predictive Asset Management6.2.4 Others6.3 Services6.3.1 Professional Services6.3.1.1 Implementation and Integration6.3.1.2 Support and Maintenance6.3.1.3 Consulting6.3.2 Managed Services 7 Global Asset Performance Management Market, By Organization Size 7.1 Introduction7.2 Large Enterprises7.3 Small and Medium-Sized Enterprises 8 Global Asset Performance Management Market, By Deployment 8.1 Introduction8.2 Cloud 8.3 On-premise 9 Global Asset Performance Management Market, By Vertical 9.1 Introduction9.2 Energy and Utilities9.3 Oil and Gas9.4 Manufacturing9.5 Mining and Metals9.6 Healthcare and Life Sciences9.7 Chemical and Pharmaceuticals9.8 Government and Defense9.9 Information Technology (IT) and Telecom9.10 Food and Beverages9.11 Others (Real Estate, Transport and Logistics) 10 Global Asset Performance Management Market, By Geography 10.1 Introduction10.2 North America10.2.1 US10.2.2 Canada10.2.3 Mexico10.3 South America10.3.1 Brazil10.3.2 Argentina10.4 Europe10.4.1 UK10.4.2 France10.4.3 Germany10.4.4 Italy10.4.5 Spain10.4.6 Rest of Europe10.5 Asia-Pacific10.5.1 China10.5.2 Japan10.5.3 India10.5.4 Indonesia10.5.5 Malaysia10.5.6 South Korea10.5.7 Australia10.5.8 Russia10.5.9 Rest of APAC10.6 Rest of the World10.6.1 Qatar10.6.2 Saudi Arabia10.6.3 South Africa10.6.4 United Arab Emirates10.6.5 Latin America 11 Competitive Landscape 11.1 Competitive Quadrants11.2 Market Share Analysis11.3 Competitive Scenario11.3.1 Mergers & Acquisitions11.3.2 Agreements, Collaborations, & Partnerships11.3.3 New Product Launches & Enhancements11.3.4 Investments & Fundings 12 Company Profiles 12.1 ABB12.2 Aspen Technology, Inc.12.3 AVEVA Group plc12.4 BENTLEY Systems, Incorporated12.5 DNV GL AS12.6 GE Digital12.7 IBM Corporation12.8 SAP SE12.9 SAS Institute Inc12.10 Siemens AG12.11 Oracle Corporation12.12 Infor Inc12.13 Schneider Electric12.14 Prevas Ab12.15 Arc Advisory Group12.16 Nexus Global Business Solutions12.17 Osisoft12.18 Emaint12.19 Accruent12.20 Aptean12.21 Rockwell Automation12.22 Arms Reliability12.23 Intelligent Process Solutions12.24 Uptake Technologies 13 Appendix For more information about this report visit
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