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Asset Performance Management Market to Witness Huge Growth by Key Players: ABB, SAP, GE Digital, IBM, AVEVA, OSIsoft, Bentley Systems, Siemens, Oracle, Infor, AspenTech, DNV GL, eMaint, Nexus Global, Accruent and Others.

05-05-2020 08:13 AM CET | IT, New Media & Software

Press release from: ReportsandReports

Asset Performance Management Market to Witness Huge Growth

According to Market Study Report, Asset Performance Management Market provides a comprehensive analysis of the Asset Performance Management Market segments, including their dynamics, size, growth, regulatory requirements, competitive landscape, technological trends and emerging opportunities of global industry. This report also provides market landscape and market share information in the Asset Performance Management Market. An exclusive data offered in this report is collected by research and industry experts team.

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The Global Asset Performance Management (APM) Market size is expected to grow from USD 3.3 Billion in 2020 to USD 6.7 Billion by 2025, at a Compound Annual Growth Rate (CAGR) of 15.1% during the forecast period. This report spread across 147 pages, profiling 20 companies and supported with 109 tables and 36 figures are now available in this research.

Top Key Players Profiled in the Asset Performance Management Market:
o ABB (Switzerland)
o SAP (Germany)
o GE Digital (US)
o IBM (US)
o AVEVA (UK)
o OSIsoft (US)
o Bentley Systems (US)
o Siemens (Germany)
o Oracle (US)
o Infor (US)
o AspenTech (US)
o DNV GL (Norway)
o eMaint (US)
o Nexus Global (US)
o Accruent (US)
o Aptean (US)
o Operational Sustainability (US)
o Rockwell Automation (US)
o ARMS Reliability (Australia)
o IPS (Germany)
o Uptake Technologies (US)

"Predictive asset management segment to grow at the highest CAGR during the forecast period"
Predictive maintenance is a type of maintenance that monitors the condition of assets using sensors. These sensors supply data in real time, which is used to predict when the asset will require maintenance and prevent equipment failure. Predictive maintenance allows the maintenance frequency to be as low as possible and prevents unplanned reactive maintenance, without incurring costs associated with undertaking several preventive maintenance measures.

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"Energy and utilities vertical to account for the largest market size in 2020"
Energy and utility companies have been challenged repeatedly by changes that have been brought on by globalization, and new environmental policies. Among utility and energy companies, operational excellence means getting more from the assets that serve their customers. Many companies believe that systems offering flexibility, scalability, and open integration standards will improve their overall productivity. APM solutions help reduce environmental risks, improve the performance of treatment facilities, and reduce equipment and operational failures.

"Small and medium-sized enterprises segment to record a higher growth rate during the forecast period"
The adoption of APM solutions among Small and Medium-sized Enterprises (SMEs) is estimated to grow at the highest CAGR during the forecast period. These enterprises face the greater challenge of limited budgets as compared to large enterprises, and require better methods to resolve complexities and optimize the cost of their business processes. There are APM solutions that can scale based on budget and resource requirements.

"North America to account for the highest market share during the forecast period"
North America is estimated to dominate the global APM market due to the presence of a large number of data centers in the region and a rise in the popularity of technology. Asset performance and the quality of the organization's products and services are impacted by the reliability of the asset or equipment. Thus, enterprises need to adhere to industry compliances for managing their assets.

Breakdown of primary participants' profile:
o By Company Type: Tier 1 - 27%, Tier 2 - 50%, and Tier 3 - 23%
o By Designation: C-level Executives - 43%, Directors Level - 27%, Manager Level -30%
o By Region: North America - 46%, Europe - 26%, APAC - 16%, MEA - 7% and Latin America - 5%.

Competitive Landscape of Asset Performance Management Market:
1 Competitive Leadership Mapping
1.1 Visionary Leaders
1.2 Dynamic Differentiators
1.3 Innovators
1.4 Emerging Companies

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Reason to access this report:
The report is expected to help the market leaders/new entrants in this market by providing them information on the closest approximations of the revenue numbers for the overall APM market and its segments. This report is also expected to help stakeholders understand the competitive landscape and gain insights to improve the position of their businesses and to plan suitable go-to-market strategies.

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