Asset performance management Market Research Report 2021 Segmented by Applications, Geography, Trends and Projection 2030

Global Asset performance management Market is valued approximately at USD 13.2 billion in 2018 and is anticipated to grow with a healthy growth rate of more than 9% over the forecast period 2019-2026. Asset performance management (APM) systems are used to enhance the consistency and accessibility of physical assets while reducing risk and operating costs. Asset performance management usually comprises of condition monitoring, asset integrity management, predictive maintenance, reliability-centered maintenance, and often includes technologies such as visualization, asset health data collection, and analytics. Asset performance management (APM) is a proven methodology to lower unplanned downtime, reduce maintenance costs, and EH&S risks reduction as well. The market is witnessing significant growth as occupants of various industries, such as chemical, oil & gas, manufacturing, aviation among others, are opting for digital solutions to manage the performance of their assets as part of the efforts to decrease their operating expenses.

Request To Download Sample of This Strategic Report:

For instance, in July 2018, the Colombia Air Force (COLAF) signed agreement with GE aviation to provide digital asset performance management solution for their fleet of military aircrafts. Through this agreement, the Columbian air force aims to enhance its operational efficiency and fleet availability. Similarly, in 2017, MaxGrip and Shell announced renewal of agreement for asset performance and integrity management to manage the capital-intensive assets. The rapid industrial shift towards digitization of asset monitoring and maintenance activities coupled with the growing adoption of cloud-based asset performance management and increasing data security are key driving forces of the market growth. Furthermore, incorporation of Industrial IoT (IIoT) and Industry 4.0 provide new opportunities to improve overall business performance. However, relatively high cost of the asset performance management impedes the growth of the market over the forecast period of 2019-2026.

In the statistics by Eurostat, the total value of the ICT sector including manufacturing and services of ICT in Europe, was estimated to be more than EUR 475 billion in the year 2017. Out of these, the ICT services sector accounted for the largest share. Moreover, the ICT services sector is predicted to be ten times larger than that of ICT manufacturing. On the other hand, the ICT services consist of computer programming, consultancy and related activities, along with telecommunication activities, out of which the former held about 49.1% share while the latter held around 30.3% share in the year 2017. These factors are estimated to impact positively towards the growth of the market in the next few years. According to the statistics by GSMA Intelligence, total cellular connections worldwide as of May 2020 was recorded to 10,18 billion.

As per the Eurostat, the total value of the ICT sector in Europe, including the ICT manufacturing and ICT services, was estimated to be more than EUR 475 billion in 2017. In this sector, the ICT services account for the major share as it is predicted to be ten times larger than the share held by ICT manufacturing. ICT services consist of computer programming, consultancy and related activities which held about 49.1% share while the telecommunications activities held around 30.3% share in the segment in 2017. These factors are estimated to impact the market growth in a positive manner in the next few years.

The regional analysis of global Asset performance management market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading/significant region across the world in terms of market share owing to Advances in industrial technology coupled with higher adoption of asset performance management by the different industry verticals. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2019-2026. Factors such as advances in digital technology, demand for better solutions to manage industrial plants would create lucrative growth prospects for the Asset performance management market across Asia-Pacific region.

Major market player included in this report are:
Aspen Technology, Inc.
AVEVA Group plc
Bentley Systems, Inc., Inc.
General Electric
IBM Corporation
SAP ERPSAS Institute
Siemens AG

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Deployment Mode:

By Vertical:
Energy & Utilities
Oil & Gas
Mining & Metal
Government & Public Sector
Chemicals & Pharmaceutical

By Region:
North America
Asia Pacific
Latin America
Rest of the World

Furthermore, years considered for the study are as follows:

Historical year – 2016, 2017
Base year – 2018
Forecast period – 2019 to 2026

Request To Download Sample of This Strategic Report:

Target Audience of the Global Asset performance management Market in Market Study:

Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers

Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2017-2026 (USD Billion)
1.2.1. Asset Performance Management Market, by Region, 2017-2026 (USD Billion)
1.2.2. Asset Performance Management Market, by Deployment Mode, 2017-2026 (USD Billion)
1.2.3. Asset Performance Management Market, by Vertical, 2017-2026 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Asset Performance Management Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Scope of the Study
2.2.2. Industry Evolution
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global Asset Performance Management Market Dynamics
3.1. Asset Performance Management Market Impact Analysis (2018-2026)
3.1.1. Market Drivers
3.1.2. Market Challenges
3.1.3. Market Opportunities
Chapter 4. Global Asset Performance Management Market: Industry Analysis
4.1. Porter’s 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.1.6. Futuristic Approach to Porter’s 5 Force Model (2016-2026)
4.2. PEST Analysis
4.2.1. Political
4.2.2. Economical
4.2.3. Social
4.2.4. Technological
4.3. Investment Adoption Model
4.4. Analyst Recommendation & Conclusion
Chapter 5. Global Asset Performance Management Market, by Deployment Mode
5.1. Market Snapshot
5.2. Global Asset Performance Management Market by Deployment Mode, Performance – Potential Analysis
5.3. Global Asset Performance Management Market Estimates & Forecasts by Deployment Mode 2016-2026 (USD Billion)
5.4. Asset Performance Management Market, Sub Segment Analysis
5.4.1. On-Premises
5.4.2. Hosted

About Kenneth Research

Kenneth Research is a reselling agency providing market research solutions in different verticals such as Automotive and Transportation, Chemicals and Materials, Healthcare, Food & Beverage and Consumer Packaged Goods, Semiconductors, Electronics & ICT, Packaging, and Others. Our portfolio includes set of market research insights such as market sizing and market forecasting, market share analysis and key positioning of the players (manufacturers, deals and distributors, etc), understanding the competitive landscape and their business at a ground level and many more. Our research experts deliver the offerings efficiently and effectively within a stipulated time. The market study provided by Kenneth Research helps the Industry veterans/investors to think and to act wisely in their overall strategy formulation

Contact Us

Kenneth Research
Phone: +1 313 462 0609

Steven is working as a news editor with America News Hour. He started his career as a freelance news writer in 2012 and has helped people in all aspects of online marketing through the expert industry coverage. In addition to writing content as a freelancer, he is also an expert in business, lifestyle, politics, sports and tech & science news. His articles are now featured on the overwhelming news website and channels such as MarketWatch, Routers etc.

Leave a Reply