Asset Performance Management Market Size, Share & Trends Analysis Report By Deployment Mode, By Category (Predictive Asset Management, Asset Reliability Management, Asset Strategy Management), And Segment Forecasts, 2019 – 2026

Category: Information & Communication Technology (ICT)
Published On: 6 December, 2020
Pages: 170
Report Code: GR - 51226
Formats: pdf, excel

KEY MARKET INSIGHTS

This report covers COVID-19 impact analysis on Asset Performance Management Market Size, Share & Trends Analysis Report By Deployment Mode, By Category (Predictive Asset Management, Asset Reliability Management, Asset Strategy Management), And Segment Forecasts, 2019 – 2026

Request Sample

GlobeResearch estimates that global Asset Performance Management market is expected to reach the market value of around USD 7,543Mn by 2026 and is predicted to grow at a CAGR of around 11% during 2020 – 2026.

Market Insights

The asset performance monitoring helps interpret and evaluate all input and output assets data provided to operators for continuous assessment and review of total asset performance in order to obtain decisive insights into the planning properties. The asset management programme allows quantitative predictions to extract insights into decision-making and feedback through the use of mathematical techniques and methods for the performance of older assets. It allows businesses to maximise their availability and reliability of physical assets. It encourages proactive and informed decision-making in the face of actual asset failure, which can lead to delays in output. It also leads to the proper management of the asset, monitoring of the status of the operating equipment and processes for in-stop replacement and maintenance decisions. The findings are primarily used to minimise unexpected work and increase asset life by business managers, managers, security officers and key decision-makers.

COVID-19 Impacts on Market

Due to the increasing need for companies to reassess elements of their performance management framework to adapt to the current context of their organisations, the industry is expected to prosper in the years to come. During the pandemic, businesses use different specialised skills for the Smart Asset Performance Management (APM) and Enterprise Asset Management (EAM) programmes. Such capabilities include IoT and Industrial IoT networking, smart sensors, condition tracking, predictive maintenance, edge equipment and RCM systems to help solve and detect potential maintenance problems. On the other hand, it leads to helping organisations strengthen their performance management and reduce maintenance costs that drive growth in the APM market through the implementation of advanced pandemic asset management solutions. Siemens Energy and Bentley Solutions, for example, joined forces in October 2020 to launch a successful tracking approach for the oil & gas industry. This approach integrates the experience of Bentley Systems Inc. with Siemens Energy in oil and gas equipment in terms of asset efficiency tools. The solution would improve the operation and reliability of equipment and reduce the cost of safety and repairs in oil & gas organisations.

Regional Stance

In North America, one of the key drivers of business development in North America is the high adoption of the Commercial Internet of Things (IoT), the increasing use of artificial intelligence (AI) and other intelligently linked devices. Moreover, the demand for digital transformation among many enthusiasts has increased and various technologies have become more convergent, such as cloud computing and artificial intelligence (AI), which have had a huge impact on the region, increasing the region’s IT budget. However, the Asia-Pacific region is expected to experience higher growth rates during the asset output management forecast period due to increased demand for asset management across Asia-Pacific as high-end manufacturing facilities have emerged, mass production is increasingly needed and small and medium-sized enterprises have a positive impact on rising demand for digitisation. Government and the public sector, along with defence companies in Asia/Pacific, are also aggressively investing in asset and resource management, which is projected to fuel the business growth of asset performance management.

Market Segmentation

 ATTRIBUTE

  DETAILS

Study Period

  2015 – 2027

Base Year

  2019

Forecast Period

  2020 – 2027

Historical Period

  2016 – 2018

Unit

  Value (US$)

 

 

 

Segmentation

Market by Deployment Mode

  • On-premise
  • Cloud-based

Market by Organizational Size

  • Large Enterprises
  • Small- & Medium-sized Enterprises

Market by End Use

  • Energy and Utilities
  • Healthcare and Life Sciences
  • Chemical and Pharmaceuticals
  • Government and Defense
  • IT and Telecom
  • Oil and Gas
  • Manufacturing
  • Mining and Metals
  • Food and Beverages
  • Others

 

Key Players and Strategies

 ATTRIBUTE

  DETAILS

Key Players

  • ABB Group
  • Aveva Inc.
  • Infor Inc.
  • Oracle Corporation
  • SAP SE
  • SAS Institute Inc.
  • Siemens AG
  • Bentley System
  • GE digital
  • IBM Corporation
  • Others

FAQs

Request a Free sample to learn more about this report.

Table Of Contents

  1. Introduction
    • Scope of The Study
    • Market Segmentation
      • Asset Performance Management Market - By Deployment Mode
      • Asset Performance Management Market - By Organizational Size
      • Asset Performance Management Market - By End Use
      • Asset Performance Management Market - By Region
        • By Country
  2.  Key Takeaways
  3.  Research Methodology
  4.  Asset Performance Management Market Landscape
    • Overview
    • Pest Analysis
    • Ecosystem Analysis
  5.  Asset Performance Management Market - Key Market Dynamics
    • Key Market Drivers
    • Key Market Restraints
    • Key Market Opportunities
    • Future Trends
    • Impact Analysis of Drivers and Restraints
    • Impact of Covid-19 Pandemic on Global Asset Performance Management Market
  6.  Asset Performance Management Market - Global Market Analysis
    • Asset Performance Management - Global Market Overview
    • Asset Performance Management - Global Market and Forecast To 2027
    • Market Positioning/Market Share
  7.  Asset Performance Management Market - Revenue and Forecasts To 2027 – Deployment Mode
    • Overview
    • Deployment Mode Market Forecasts and Analysis
      • On-premise
      • Cloud-based
  8.  Asset Performance Management Market - Revenue and Forecasts To 2027 – Organizational Size
    • Overview
    • Organizational Size Market Forecasts and Analysis
      • Large Enterprises
      • Small- & Medium-sized Enterprises
  9. Asset Performance Management Market - Revenue and Forecasts To 2027 – End Use
    • Overview
    • End Use Market Forecasts and Analysis
      • Energy and Utilities
      • Healthcare and Life Sciences
      • Chemical and Pharmaceuticals
      • Government and Defense
      • IT and Telecom
      • Oil and Gas
      • Manufacturing
      • Mining and Metals
      • Food and Beverages
      • Others
  10.  Asset Performance Management Market Revenue and Forecasts To 2027 – Geographical Analysis
    • North America
      • North America Asset Performance Management Market Overview
      • North America Asset Performance Management Market Forecasts and Analysis
      • North America Asset Performance Management Market Forecasts and Analysis - By Deployment Mode
      • North America Asset Performance Management Market Forecasts and Analysis - By Organizational Size
      • North America Asset Performance Management Market Forecasts and Analysis - By End Use
      • North America Asset Performance Management Market Forecasts and Analysis - By Countries
        • United States Asset Performance Management Market
          • United States Asset Performance Management Market By Deployment Mode
          • United States Asset Performance Management Market By Organizational Size
          • United States Asset Performance Management Market By End Use
        • Canada Asset Performance Management Market
          • Canada Asset Performance Management Market By Deployment Mode
          • Canada Asset Performance Management Market By Organizational Size
          • Canada Asset Performance Management Market By End Use
    •  Europe
      • Europe Asset Performance Management Market Overview
      • Europe Asset Performance Management Market Forecasts And Analysis
      • Europe Asset Performance Management Market Forecasts and Analysis - By Deployment Mode
      • Europe Asset Performance Management Market Forecasts and Analysis - By Organizational Size
      • Europe Asset Performance Management Market Forecasts and Analysis - By End Use
      • Europe Asset Performance Management Market Forecasts and Analysis - By Countries
        • Germany Asset Performance Management Market
        • Germany Asset Performance Management Market By Deployment Mode
        • Germany Asset Performance Management Market ByOrganizational Size
        • Germany Asset Performance Management Market By End Use
        • France Asset Performance Management Market
        • France Asset Performance Management Market By Deployment Mode
        • France Asset Performance Management Market ByOrganizational Size
        • France Asset Performance Management Market By End Use
        • Italy Asset Performance Management Market
        • Italy Asset Performance Management Market By Deployment Mode
        • Italy Asset Performance Management Market By Organizational Size
        • Italy Asset Performance Management Market By End Use
        • Spain Asset Performance Management Market
        • Spain Asset Performance Management Market By Deployment Mode
        • Spain Asset Performance Management Market By Organizational Size
        • Spain Asset Performance Management Market By End Use
        • UK Asset Performance Management Market
        • UK Asset Performance Management Market By Deployment Mode
        • UK Asset Performance Management Market By Organizational Size
        • UK Asset Performance Management Market By End Use
        • Rest of Europe Asset Performance Management Market
        • Rest of Europe Asset Performance Management Market By Deployment Mode
        • Rest of Europe Asset Performance Management Market By Organizational Size
        • Rest of Europe Asset Performance Management Market By End Use
    •  Asia-Pacific
      • Asia-Pacific Asset Performance Management Market Overview
      • Asia-Pacific Asset Performance Management Market Forecasts And Analysis
      • Asia-Pacific Asset Performance Management Market Forecasts and Analysis - By Deployment Mode
      • Asia-Pacific Asset Performance Management Market Forecasts and Analysis - By Organizational Size
      • Asia-Pacific Asset Performance Management Market Forecasts and Analysis - By End Use
      • Asia-Pacific Asset Performance Management Market Forecasts and Analysis - By Countries
        • Australia Asset Performance Management Market
        • Australia Asset Performance Management Market By Deployment Mode
        • Australia Asset Performance Management Market By Organizational Size
        • China Asset Performance Management Market
        • China Asset Performance Management Market By Deployment Mode
        • China Asset Performance Management Market By Organizational Size
        • China Asset Performance Management Market By End Use
        • India Asset Performance Management Market
        • India Asset Performance Management Market By Deployment Mode
        • India Asset Performance Management Market By Organizational Size
        • India Asset Performance Management Market By End Use
        • Japan Asset Performance Management Market
        • Japan Asset Performance Management Market By Deployment Mode
        • Australia Asset Performance Management Market By Organizational Size
        • Australia Asset Performance Management Market By End Use
        • South Korea Asset Performance Management Market
        • South Korea Asset Performance Management Market By Deployment Mode
        • South Korea Asset Performance Management Market By Organizational Size
        • South Korea Asset Performance Management Market By End Use
        • Rest of Asia Pacific Asset Performance Management Market
        • Rest of Asia Pacific Asset Performance Management Market By Deployment Mode
        • Rest of Asia Pacific Asset Performance Management Market By Organizational Size
        • Rest of Asia Pacific Asset Performance Management Market By End Use
    •  Middle East & Africa
      • Middle East & Africa Asset Performance Management Market Overview
      • Middle East & Africa Asset Performance Management Market Forecasts And Analysis
      • Middle East & Africa Asset Performance Management Market Forecasts and Analysis - By Deployment Mode
      • Middle East & Africa Asset Performance Management Market Forecasts and Analysis - By Organizational Size
      • Middle East & Africa Asset Performance Management Market Forecasts and Analysis - By End Use
      • Middle East & Africa Asset Performance Management Market Forecasts and Analysis - By Countries
        • South Africa Asset Performance Management Market
        • South Africa Asset Performance Management Market By Deployment Mode
        • South Africa Asset Performance Management Market By Organizational Size
        • South Africa Asset Performance Management Market By End Use
        • Saudi Arabia Asset Performance Management Market
        • Saudi Arabia Asset Performance Management Market By Deployment Mode
        • Saudi Arabia Asset Performance Management Market By Organizational Size
        • Saudi Arabia Asset Performance Management Market By End Use
        • A.E Asset Performance Management Market
        • A.E Asset Performance Management Market By Deployment Mode
        • A.E Asset Performance Management Market By Organizational Size
        • A.E Asset Performance Management Market By End Use
        • Rest of Middle East & Africa Asset Performance Management Market
        • Rest of Middle East & Africa Asset Performance Management Market By Deployment Mode
        • Rest of Middle East & Africa Asset Performance Management Market By Organizational Size
        • Rest of Middle East & Africa Asset Performance Management Market By End Use
    • South America
      • South America Asset Performance Management Market Overview
      • South America Asset Performance Management Market Forecasts And Analysis
      • South America Asset Performance Management Market Forecasts and Analysis - By Deployment Mode
      • South America Asset Performance Management Market Forecasts and Analysis - By Organizational Size
      • South America Asset Performance Management Market Forecasts and Analysis - By End Use
      • South America Asset Performance Management Market Forecasts and Analysis - By Countries
        • Brazil Asset Performance Management Market
        • Brazil Asset Performance Management Market By Deployment Mode
        • Brazil Asset Performance Management Market By Organizational Size
        • Brazil Asset Performance Management Market By End Use
        • Argentina Asset Performance Management Market
        • Argentina Asset Performance Management Market By Deployment Mode
        • Argentina Asset Performance Management Market By Organizational Size
        • Argentina Asset Performance Management Market By End Use
        • Rest of South America Asset Performance Management Market
        • Rest of South America Asset Performance Management Market By Deployment Mode
        • Rest of South America Asset Performance Management Market By Organizational Size
        • Rest of South America Asset Performance Management Market By End Use
  11. Industry Landscape
    • Mergers and Acquisitions
    • Agreements and Collaborations and Join Ventures
    • New Deployment Mode Launches
    • Expansions and Other Strategic Developments
  12. Asset Performance Management Market and Key Company Profiles
    • ABB Group
      • Key Facts
      • Business Description
      • Deployment Modes and Services
      • Financial Overview
      • Key Developments
    • Aveva Inc.
      • Key Facts
      • Business Description
      • Deployment Modes and Services
      • Financial Overview
      • Key Developments
    •  Infor Inc.
      • Key Facts
      • Business Description
      • Deployment Modes and Services
      • Financial Overview
      • Key Developments
    •  Oracle Corporation
      • Key Facts
      • Business Description
      • Deployment Modes and Services
      • Financial Overview
      • Key Developments
    •  SAP SE
      • Key Facts
      • Business Description
      • Deployment Modes and Services
      • Financial Overview
      • Key Developments
    •  SAS Institute Inc
      • Key Facts
      • Business Description
      • Deployment Modes and Services
      • Financial Overview
      • Key Developments
    • Siemens
      • Key Facts
      • Business Description
      • Deployment Modes and Services
      • Financial Overview
      • Key Developments
    • Bentley System
      • Key Facts
      • Business Description
      • Deployment Modes and Services
      • Financial Overview
      • Key Developments
  13. Appendix
    • About Globe Research
    • Glossary of Terms

Market Segmentation

 ATTRIBUTE

  DETAILS

Study Period

  2015 – 2027

Base Year

  2019

Forecast Period

  2020 – 2027

Historical Period

  2016 – 2018

Unit

  Value (US$)

 

 

 

Segmentation

Market by Deployment Mode

  • On-premise
  • Cloud-based

Market by Organizational Size

  • Large Enterprises
  • Small- & Medium-sized Enterprises

Market by End Use

  • Energy and Utilities
  • Healthcare and Life Sciences
  • Chemical and Pharmaceuticals
  • Government and Defense
  • IT and Telecom
  • Oil and Gas
  • Manufacturing
  • Mining and Metals
  • Food and Beverages
  • Others

 

Key Players and Strategies

 ATTRIBUTE

  DETAILS

Key Players

  • ABB Group
  • Aveva Inc.
  • Infor Inc.
  • Oracle Corporation
  • SAP SE
  • SAS Institute Inc.
  • Siemens AG
  • Bentley System
  • GE digital
  • IBM Corporation
  • Others

FAQs

Methodology

Research Methodology

Globe Research employs comprehensive and iterative research methodology focused on minimizing deviance in order to provide the most accurate estimates and forecast possible. The company utilizes a combination of bottom-up and top-down approaches for segmenting and estimating quantitative aspects of the market. In Addition, a recurring theme prevalent across all our research reports is data triangulation that looks market from three different perspectives. Critical elements of methodology employed for all our studies include:

Preliminary data mining

Raw market data is obtained and collated on a broad front. Data is continuously filtered to ensure that only validated and authenticated sources are considered. In addition, data is also mined from a host of reports in our repository, as well as a number of reputed paid databases. For comprehensive understanding of the market, it is essential to understand the complete value chain and in order to facilitate this; we collect data from raw material suppliers, distributors as well as buyers.

Technical issues and trends are obtained from surveys, technical symposia and trade journals. Technical data is also gathered from intellectual property perspective, focusing on white space and freedom of movement. Industry dynamics with respect to drivers, restraints, pricing trends are also gathered. As a result, the material developed contains a wide range of original data that is then further cross-validated and authenticated with published sources.

Statistical model

Our market estimates and forecasts are derived through simulation models. A unique model is created customized for each study. Gathered information for market dynamics, technology landscape, application development and pricing trends is fed into the model and analyzed simultaneously. These factors are studied on a comparative basis, and their impact over the forecast period is quantified with the help of correlation, regression and time series analysis. Market forecasting is performed via a combination of economic tools, technological analysis, and industry experience and domain expertise.

Econometric models are generally used for short-term forecasting, while technological market models are used for long-term forecasting. These are based on an amalgamation of technology landscape, regulatory frameworks, economic outlook and business principles. A bottom-up approach to market estimation is preferred, with key regional markets analyzed as separate entities and integration of data to obtain global estimates. This is critical for a deep understanding of the industry as well as ensuring minimal errors. Some of the parameters considered for forecasting include:

    • Market drivers and restrains, along with their current and expected impact
    • Raw material scenario and supply v/s price trends
    • Regulatory scenario and expected developments
    • Current capacity and expected capacity additions up to 2027

We assign weights to these parameters and quantify their market impact using weighted average analysis, to derive an expected market growth rate.

Primary validation

This is the final step in estimating and forecasting for our reports. Exhaustive primary interviews are conducted, on face to face as well as over the phone to validate our findings and assumptions used to obtain them. Interviewees are approached from leading companies across the value chain including suppliers, technology providers, domain experts and buyers so as to ensure a holistic and unbiased picture of the market. These interviews are conducted across the globe, with language barriers overcome with the aid of local staff and interpreters. Primary interviews not only help in data validation, but also provide critical insights into the market, current business scenario and future expectations and enhance the quality of our reports. All our estimates and forecast are verified through exhaustive primary research with Key Industry Participants (KIPs) which typically include:

    • Market leading companies
    • Raw material suppliers
    • Product distributors
    • Buyers

The key objectives of primary research are as follows:

    • To validate our data in terms of accuracy and acceptability
    • To gain an insight in to the current market and future expectations

Data Collection Matrix

Perspective

Primary research

Secondary research

Supply side

  • Manufacturers
  • Technology distributors and wholesalers
  • Company reports and publications
  • Government publications
  • Independent investigations
  • Economic and demographic data

Demand side

  • End-user surveys
  • Consumer surveys
  • Mystery shopping
  • Case studies
  • Reference customers


Industry Analysis Matrix

Qualitative analysis

Quantitative analysis

  • Industry landscape and trends
  • Market dynamics and key issues
  • Technology landscape
  • Market opportunities
  • Porter’s analysis and PESTEL analysis
  • Competitive landscape and component benchmarking
  • Policy and regulatory scenario
  • Market revenue estimates and forecast up to 2027
  • Market revenue estimates and forecasts up to 2027, by technology
  • Market revenue estimates and forecasts up to 2027, by application
  • Market revenue estimates and forecasts up to 2027, by type
  • Market revenue estimates and forecasts up to 2027, by component
  • Regional market revenue forecasts, by technology
  • Regional market revenue forecasts, by application
  • Regional market revenue forecasts, by type
  • Regional market revenue forecasts, by component

Download Free Sample