About Asset Performance Management (APM)
Asset performance management (APM), a proven approach to improve reliability, decrease the maintenance cost and minimizing risk & operating cost. In the upcoming years, new construction and infrastructure projects in various industry such as oil & gas, healthcare, aerospace & defense and transportation sector are expected to fuel the demand for APM solution worldwide. These projects needs solutions includes inventory tracking, asset management and improved work efficiency.
Attributes | Details |
---|
Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
Analyst at AMA Research estimates that United States Players will contribute the maximum growth to Global Asset Performance Management (APM) market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
ABB Ltd. (Switzerland), CGI Group Inc. (United States), Dude Solutions, Inc. (United States), eMaint (United States), IBM Corporation (United States), IFS AB (Sweden), Infor (United States), Oracle Corporation (United States), Ramco Systems (India), SAP SE (Germany) and Schneider Electric SA (France) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are Vesta Partners, LLC (United States), Prevas AB (Sweden) and General Electric Co. (United States).
Segmentation Overview
AMA Research has segmented the market of Global Asset Performance Management (APM) market by Type (Parts Type and System Type), Application (Aerospace & Defense, Automotive & Transportation, Machine Manufacturing, Healthcare, Energy & Utilities and Others) and Region.
On the basis of geography, the market of Asset Performance Management (APM) 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).
If we see Market by , the sub-segment i.e. will boost the Asset Performance Management (APM) market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.Influencing Trend:
Increasing Need of Tracking Ability of Assets in an Organization
Market Growth Drivers:
Increased Asset Life of Aging Infrastructure and Reduced Maintenance and Procurement Costs
Challenges:
Consistently Changes and Upgradation of Technology and Lack of Skilled & Expertise Professionals
Restraints:
High Deployment Cost for Small & Medium Enterprises
Opportunities:
Increasing Deployment of Cloud-Based Solutions among Various Industry
Market Leaders and their expansionary development strategies
In May 2021, Dude Solutions acquired the strategic asset management firm Assetic. Assetic experts helped professional asset managers evaluate, plan and prioritize capital investment projects. Assetic is the only cloud-based asset management provider with advanced predictive modeling capabilities that ease infrastructure maintenance, extending asset life and reducing maintenance and renewal costs.
In March 2021, industrial cloud company Infor, a leading resource management, recycling and energy recovery company, deployed Infor EAM to enhance asset performance management. It is already resident at its main facility in London's Belvedere, with a transit station and other business units to follow. The platform is set up to optimize organization, coordination and intelligence surrounding maintenance planning and related inventory.
Key Target Audience
Support and Maintenance Service Providers, Implementation Service Providers, Training and Education Service Providers, Energy and Utilities Companies, System Design and Development Vendors and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.