Asset Performance Management Market Size, Share & Trends Analysis Report By Deployment Mode, By Category (Predictive Asset Management, Asset Reliability Management, Asset Strategy Management), By Vertical, And Segment Forecasts, 2019 - 2025

Published: Sep, 2019 | Pages: 100 | Publisher: Grand View Research
Industry: Consumer Goods | Report Format: Electronic (PDF)

The global asset performance management market size is estimated to reach USD 24,401.62 million by 2025, exhibiting a CAGR of 9.15% from 2019 to 2025, according to the new report by Grand View Research, Inc. The growing adoption of dedicated systems for managing the performance of assets to achieve operational excellence is expected to fuel the market growth. Managing the performance of assets can help companies in optimizing the usage and maintenance of their operational assets, such as plants, equipment, and infrastructure. Some of the assets that are actively monitored by companies using dedicated systems include heavy machinery, heavy equipment, turbine engines, and power transformers.

A system deployed for managing the performance of assets typically includes various solutions, such as asset strategy and risk management, predictive asset management, reliability-centered maintenance, and condition-based maintenance, among others. Incumbents of various end-use industries, including energy & utilities, mining & metal, oil & gas, and manufacturing, utilize these solutions depending on their needs and preferences. The manufacturing segment held a significant market share in 2018 and is expected to account for a sizeable share over the forecast period because there are several small and large manufacturing plants across the globe and all of them are expected to adopt solutions to manage the performance of their assets.

The energy & utilities segment held the largest asset performance management (APM) market share in 2018 owing to a large number of energy & utility companies that are actively investing in systems to manage the performance of their assets. For instance, Tata Power of India is leveraging AVEVA Group plc's PRiSM Predictive Asset Analytics for avoiding failures of assets and reducing equipment downtime. The system has benefitted Tata Power in the form of higher reliability and enhanced performance of critical assets. Additionally, predictive analysis enabled by the system has also helped the company in controlling maintenance costs.

Companies having a high degree of reliance on the capability of their assets have to often confront unplanned downtimes stemming from failures of assets, ineffective data gathering approaches while monitoring assets, hardships in realizing operational capabilities of assets, inability to determine unforeseeable risks, and ineffective maintenance scheduling, which can potentially impact their profits goals. Managing the performance of assets can help such companies is reducing the instances of unplanned downtimes. Cloud-based systems for managing the performance of assets are particularly allowing companies to manage their assets cost-effectively. The launch of IIoT-compatible systems and the increasing adoption of cloud solutions are expected to be among the crucial factors driving the market growth.

Further key findings from the report suggest:

• The rapid industrial shift towards digitalization of monitoring and maintenance activities is prompting companies to invest aggressively in digital solutions to manage the performance of assets

• Use of advanced processes and tools, such as regression analysis, neural network analysis, and Monte Carlo simulation, in managing the performance of assets is driving the growth of the predictive asset management segment

• The on-premises segment is projected to dominate the asset performance management market over the forecast period owing to the growing preference for on-premises customized systems

• The hosted segment is expected to register a CAGR of more than 11% from 2019 to 2025. The public cloud segment held a market share of more than 60% in 2018 and is expected to maintain its dominance over the forecast period

• The predictive asset management segment is expected to register a CAGR exceeding 11% from 2019 to 2025 as the approach shifts from predictive to preventive.

 Table of Contents

Chapter 1 Methodology and Scope
                 1.1 Research Methodology
                 1.2 Research Scope and Assumptions
                 1.3 List of Data Sources
Chapter 2 Executive Summary
                 2.1 Asset Performance Management - Industry Snapshot & Key Buying Criteria, 2014 -2025
Chapter 3 Market Variables, Trends & Scope
                 3.1 Market Segmentation and Scope
                 3.2 Asset Performance Management Market Size and Growth Prospects
                 3.3 Asset Performance Management - Value Chain Analysis
                 3.4 Market Dynamics
                     3.4.1 Market driver analysis
                         3.4.1.1 Integration of asset performance management with complementary technologies for more efficient use cases
                         3.4.1.2 The growing adoption of cloud-based asset performance management and increasing data security
                         3.4.1.3 The rapid industrial shift towards digitization of asset monitoring and maintenance activities
                     3.4.2 Market restraint analysis
                         3.4.2.1 High prices of asset performance management systems due to complex and customized system requirements
                     3.4.3 Market opportunity analysis
                         3.4.3.1 Leveraging advanced technologies such as machine learning and artificial intelligence in the development of asset performance management systems
                 3.5 Key Opportunities - Prioritized
                 3.6 Asset Performance Management - Key Company Analysis, 2018
                     3.6.1 Key company analysis
                 3.7 Industry Analysis - Porter's
                     3.7.1 Supplier power
                     3.7.2 Buyer power
                     3.7.3 Substitution threat
                     3.7.4 Threat of new entrants
                     3.7.5 Competitive rivalry
                 3.8 Asset Performance Management - PESTEL Analysis
                     3.8.1 Political landscape
                     3.8.2 Environmental landscape
                     3.8.3 Social landscape
                     3.8.4 Technology landscape
                     3.8.5 Legal landscape
                 3.9 Major Deals & Strategic Alliances Analysis
                     3.9.1 Joint ventures
                     3.9.2. Mergers & acquisitions
                     3.9.3. Licensing & partnerships
                     3.9.4. Technology collaborations
                     3.9.5. Strategic divestments
Chapter 4 Asset Performance Management Market: Deployment Mode Estimates & Trend Analysis
                 4.1 Asset Performance Management Market: Deployment Mode Analysis
                     4.1.1 On-premises
                     4.1.2 Hosted
                         4.1.2.1 Public cloud
                         4.1.2.2 Private cloud
Chapter 5 Asset Performance Management Market: Category Estimates & Trend Analysis
                 5.1 Asset Performance Management Market: Category Analysis
                     5.1.1 Predictive asset management
                     5.1.2 Asset reliability management
                     5.1.3 Asset strategy management
                     5.1.4 Others
Chapter 6 Asset Performance Management Market: Vertical Estimates & Trend Analysis
                 6.1 Asset Performance Management Market: Vertical Analysis
                     6.1.1 Energy & utilities
                     6.1.2 Oil & gas
                     6.1.3 Manufacturing
                     6.1.4 Mining & metal
                     6.1.5 Government & public sector
                     6.1.6 Transportation
                     6.1.7 Chemicals & pharmaceutical
                     6.1.8 Others
Chapter 7 Asset Performance Management Market: Regional Estimates & Trend Analysis
                 7.1 Asset Performance Management Market Share by Region, 2018 & 2025
                 7.2 North America
                     7.2.1 U.S.
                     7.2.2 Canada
                     7.2.3 Mexico
                 7.3 Europe
                     7.3.1 U.K.
                     7.3.2 Germany
                     7.3.3 France
                 7.4 Asia Pacific (APAC)
                     7.4.1 China
                     7.4.2 Japan
                     7.4.3 India
                 7.5 South America
                     7.5.1 Brazil
                 7.6 MEA
Chapter 8. Competitive Analysis
                 8.1. Recent Developments & Impact Analysis, By Key Market Participants
                 8.2. Company/Competition Categorization (Key Innovators, Market Leaders, Emerging Players)
                 8.3. Vendor Landscape
                     8.3.1. Key company market share analysis, 2018
                 8.4. Company Analysis
                     8.4.1. Company market position analysis
                     8.4.2. Competitive dashboard analysis
                     8.4.3. Synergy analysis: Major deals & strategic alliances
Chapter 9 Competitive Landscape
                 9.1 ABB
                     9.1.1 Company overview
                     9.1.2 Financial performance
                     9.1.3 Product benchmarking
                     9.1.4 Recent developments
                 9.2 Aspen Technology, Inc.
                     9.2.1 Company overview
                     9.2.2 Financial performance
                     9.2.3 Product benchmarking
                     9.2.4 Recent developments
                 9.3 AVEVA Group plc
                     9.3.1 Company overview
                     9.3.2 Financial performance
                     9.3.3 Product benchmarking
                     9.3.3 Recent developments
                 9.4 BENTLEY SYSTEMS, INCORPORATED
                     9.4.1 Company overview
                     9.4.2 Product benchmarking
                     9.4.3 Recent developments
                 9.5 DNV GL AS
                     9.5.1 Company overview
                     9.5.2 Financial overview
                     9.5.3 Product benchmarking
                     9.5.4 Recent developments
                 9.6 General Electric
                     9.6.1 Company overview
                     9.6.2 Financial performance
                     9.6.3 Product benchmarking
                     9.6.4 Recent developments
                 9.7 IBM Corporation
                     9.7.1 Company overview
                     9.7.2 Financial performance
                     9.7.2 Product benchmarking
                     9.7.3 Recent developments
                 9.8 SAP
                     9.8.1 Company overview
                     9.8.2 Financial performance
                     9.8.3 Product benchmarking
                     9.8.4 Recent developments
                 9.9 SAS Institute Inc.
                     9.9.1 Company overview
                     9.9.2 Financial overview
                     9.9.3 Product benchmarking
                     9.9.4 Recent developments
                 9.10 Siemens
                     9.10.1 Company overview
                     9.10.2 Financial performance
                     9.10.3 Product benchmarking
                     9.10.4 Recent developments

List of Tables

TABLE 1 Asset performance management market, 2014 - 2025 (USD Million)
TABLE 2 Asset performance management market by region, 2014 - 2025 (USD Million)
TABLE 3 Global asset performance management market by deployment mode, 2014 - 2025 (USD Million)
TABLE 4 Global asset performance management market by category, 2014 - 2025 (USD Million)
TABLE 5 Global asset performance management market by vertical, 2014 - 2025 (USD Million)
TABLE 6 On-premises deployment mode market, 2014 - 2025 (USD Million)
TABLE 7 On-premises deployment mode market by region, 2014 - 2025 (USD Million)
TABLE 8 Hosted deployment mode market, 2014 - 2025 (USD Million)
TABLE 9 Hosted deployment mode market by region, 2014 - 2025 (USD Million)
TABLE 10 Public cloud hosting type market, 2014 - 2025 (USD Million)
TABLE 11 Public cloud hosting type market, by region, 2014 - 2025 (USD Million)
TABLE 12 Private cloud hosting type market, 2014 - 2025 (USD Million)
TABLE 13 Private cloud hosting type market by region, 2014 - 2025 (USD Million)
TABLE 14 Predictive asset management category market, 2014 - 2025 (USD Million)
TABLE 15 Predictive asset management category market by region, 2014 - 2025 (USD Million)
TABLE 16 Asset reliability management category market, 2014 - 2025 (USD Million)
TABLE 17 Asset reliability management category market by region, 2014 - 2025 (USD Million)
TABLE 18 Asset strategy management category market, 2014 - 2025 (USD Million)
TABLE 19 Asset strategy management category market by region, 2014 - 2025 (USD Million)
TABLE 20 Others category market, 2014 - 2025 (USD Million)
TABLE 21 Others category market by region, 2014 - 2025 (USD Million)
TABLE 22 Energy & utilities vertical market, 2014 - 2025 (USD Million)
TABLE 23 Energy & utilities vertical market by region, 2014 - 2025 (USD Million)
TABLE 24 Oil & gas vertical market, 2014 - 2025 (USD Million)
TABLE 25 Oil & gas vertical market by region, 2014 - 2025 (USD Million)
TABLE 26 Manufacturing vertical market, 2014 - 2025 (USD Million)
TABLE 27 Manufacturing vertical market by region, 2014 - 2025 (USD Million)
TABLE 28 Mining & metal vertical market, 2014 - 2025 (USD Million)
TABLE 29 Mining & metal vertical market by region, 2014 - 2025 (USD Million)
TABLE 30 Government & public sector market, 2014 - 2025 (USD Million)
TABLE 31 Government & public sector market by region, 2014 - 2025 (USD Million)
TABLE 32 Transportation vertical market, 2014 - 2025 (USD Million)
TABLE 33 Transportation vertical market by region, 2014 - 2025 (USD Million)
TABLE 34 Chemicals & pharmaceutical vertical market, 2014 - 2025 (USD Million)
TABLE 35 Chemicals & pharmaceutical vertical market by region, 2014 - 2025 (USD Million)
TABLE 36 Others vertical market, 2014 - 2025 (USD Million)
TABLE 37 Others vertical market by region, 2014 - 2025 (USD Million)
TABLE 38 North America asset performance management market by deployment mode, 2014 - 2025 (USD Million)
TABLE 39 North America asset performance management market by category, 2014 - 2025 (USD Million)
TABLE 40 North America asset performance management market by vertical, 2014 - 2025 (USD Million)
TABLE 41 U.S. asset performance management market by deployment mode, 2014 - 2025 (USD Million)
TABLE 42 U.S. asset performance management market by category, 2014 - 2025 (USD Million)
TABLE 43 U.S. asset performance management market by vertical, 2014 - 2025 (USD Million)
TABLE 44 Canada asset performance management market by deployment mode, 2014 - 2025 (USD Million)
TABLE 45 Canada asset performance management market by category, 2014 - 2025 (USD Million)
TABLE 46 Canada asset performance management market by vertical, 2014 - 2025 (USD Million)
TABLE 47 Mexico asset performance management market by deployment mode, 2014 - 2025 (USD Million)
TABLE 48 Mexico asset performance management market by category, 2014 - 2025 (USD Million)
TABLE 49 Mexico asset performance management market by vertical, 2014 - 2025 (USD Million)
TABLE 50 Europe asset performance management market by deployment mode, 2014 - 2025 (USD Million)
TABLE 51 Europe asset performance management market by category, 2014 - 2025 (USD Million)
TABLE 52 Europe asset performance management market by vertical, 2014 - 2025 (USD Million)
TABLE 53 U.K. asset performance management market by deployment mode, 2014 - 2025 (USD Million)
TABLE 54 U.K. asset performance management market by category, 2014 - 2025 (USD Million)
TABLE 55 U.K. asset performance management market by vertical, 2014 - 2025 (USD Million)
TABLE 56 Germany asset performance management market by deployment mode, 2014 - 2025 (USD Million)
TABLE 57 Germany asset performance management market by category, 2014 - 2025 (USD Million)
TABLE 58 Germany asset performance management market by vertical, 2014 - 2025 (USD Million)
TABLE 59 France asset performance management market by deployment mode, 2014 - 2025 (USD Million)
TABLE 60 France asset performance management market by category, 2014 - 2025 (USD Million)
TABLE 61 France asset performance management market by vertical, 2014 - 2025 (USD Million)
TABLE 62 Asia Pacific asset performance management market by deployment mode, 2014 - 2025 (USD Million)
TABLE 63 Asia Pacific asset performance management market by category, 2014 - 2025 (USD Million)
TABLE 64 Asia Pacific asset performance management market by vertical, 2014 - 2025 (USD Million)
TABLE 65 China asset performance management market by deployment mode, 2014 - 2025 (USD Million)
TABLE 66 China asset performance management market by category, 2014 - 2025 (USD Million)
TABLE 67 China asset performance management market by vertical, 2014 - 2025 (USD Million)
TABLE 68 Japan asset performance management market by deployment mode, 2014 - 2025 (USD Million)
TABLE 69 Japan asset performance management market by category, 2014 - 2025 (USD Million)
TABLE 70 Japan asset performance management market by vertical, 2014 - 2025 (USD Million)
TABLE 71 India asset performance management market by deployment mode, 2014 - 2025 (USD Million)
TABLE 72 India asset performance management market by category, 2014 - 2025 (USD Million)
TABLE 73 India asset performance management market by vertical, 2014 - 2025 (USD Million)
TABLE 74 South America asset performance management market by deployment mode, 2014 - 2025 (USD Million)
TABLE 75 South America asset performance management market by category, 2014 - 2025 (USD Million)
TABLE 76 South America asset performance management market by vertical, 2014 - 2025 (USD Million)
TABLE 77 Brazil asset performance management market by deployment mode, 2014 - 2025 (USD Million)
TABLE 78 Brazil asset performance management market by category, 2014 - 2025 (USD Million)
TABLE 79 Brazil asset performance management market by vertical, 2014 - 2025 (USD Million)
TABLE 80 MEA asset performance management market by deployment mode, 2014 - 2025 (USD Million)
TABLE 81 MEA asset performance management market by category, 2014 - 2025 (USD Million)
TABLE 82 MEA asset performance management market by vertical, 2014 - 2025 (USD Million)

List of Figures

FIG. 1 Market segmentation and scope
FIG. 2 Asset performance management market size and growth prospects 2014 - 2025 (Revenue in USD Million)
FIG. 3 Asset performance management - Value chain analysis
FIG. 4 Market dynamics
FIG. 5 Key opportunities prioritized
FIG. 6 Porter's five forces analysis
FIG. 7 Asset performance management - PESTEL analysis
FIG. 8 Asset performance management market: Deployment mode analysis
FIG. 9 Asset performance management market: Category analysis
FIG. 10 Asset performance management market: Vertical analysis
FIG. 11 Regional marketplace: Key takeaways
FIG. 12 Regional outlook, 2018 & 2025
FIG. 13 Asset performance management market: North America regional analysis
FIG. 14 Asset performance management market: Europe regional analysis
FIG. 15 Asset performance management market: Asia Pacific regional analysis
FIG. 16 Asset performance management market: South America regional analysis
FIG. 17 Asset performance management market: MEA regional analysis