Remote Asset Management Market Scope
Remote asset management provides an improved means for locating, monitoring, and controlling remotely the use of fixed and or movable assets. The World is seeing the dawn of novel industrial revolution, arriving on the wings of wireless communications and fostered by the rise of connected objects. Today, it is widely known as the IoT. Remote Asset Management is one of the many use cases of the IoT revolt. The world of sensors, gateways and cloud applications is transforming the complete landscape of management and control at the disposal of an organization that has assets in remote offices and dispersed areas. Many industries already have benefitted tremendously from video surveillance and its applications. Manufacturing sector is most promising sector utilizing the remote asset management. Moreover, other sectors also have started the use of remote asset management solutions and services. According to AMA, the Global Remote Asset Management market is expected to see growth rate of 14.89%
Research Analyst at AMA estimates that United States Players will contribute to the maximum growth of Global Remote Asset Management market throughout the predicted period.
Hitachi (Japan), Schneider Electric (France), Siemens (Germany), AT&T (United States), Cisco (United States), PTC (United States), IBM (United States), Rockwell Automation (United States), SAP (Germany), Infosys (India), ABB (Switzerland), Verizon (United States) and Vodafone Group (United Kingdom) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research are Bosch.Io (Germany), Meridium (United States), Eambrace (United States), Accruent (United States), Roamworks (United Arab Emirates), Rapidvalue Solutions (India), RCS Technologies (India), Ascent Intellimation (India) and APAT (Canada).
The study have segmented the market of Global Remote Asset Management market and Region with country level break-up.
On the basis of geography, the market of Remote Asset Management has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
Increase in Affordability of Cloud Computing Services
Market Growth Drivers:
Surge In the Adoption of IoT-Enabled Remote Asset Management Solutions to Manage Assets Efficiency, Decreasing Cost of IoT-Based Sensors Optimize Asset Life Cycle through Remote Asset Management Solutions, Predictive Maintenance to Boost the Adoption of Remote Asset Management and Growing Demand for Remote Asset Management from Various Industry Verticals
Selecting the Right Solution That Aligns With the Remote Asset Management Needs Pose a Major Challenge
Data Security and Confidentiality Concerns Hampers the Growth of the Market
COVID-19 Pandemic is expected to Open New Avenues for the Remote Asset Management Industry, Extending Remote Asset Life Cycle Using Advanced Technologies and Advancement of IoT and Cloud Computing Technology Offering Economic Benefits
Market Leaders and their Expansionary Development Strategies
On 14 Oct 2020, Cisco announced two new cloud-managed sensor solutions that help businesses simplify asset and facility monitoring across their organizations, from indoor IT closets to outdoor Operation Technology (OT) spaces at scale.
On 6 Nov 2019, IBM announced Maximo Asset Monitor, a new AI-powered monitoring solution designed to help maintenance and operations leaders better understand and improve the performance of their high-value physical assets. An extension of IBM's market-leading IBM Maximo capabilities, this new solution will help unlock essential insights with AI-powered anomaly detection and provide enterprise-wide visibility into critical equipment performance. The result is faster problem identification that can inform better decisions and reduce downtime.
Key Target AudienceRemote Asset Management Software Companies, Remote Asset Management Service Providers, Research & Consulting Firms, Regulatory & Government Bodies, Upstream & Downstream Vendors, End Users and Others
About ApproachThe research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a
preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.